February 25, 2025 • 19 mins
So if you are reading this, there is a good chance that you've heard about the Silicon Valley Bank Collapse last week. It is important to note that while this is a scary time, it doesn’t mean that your business is at risk. The unexpected will happen in a moment. Whether you’re starting a business, growing one, or just living life, you need to make sure that bad things don't bring it down.
In this podcast, I put together a list of 5 simple things we can do to ensure our businesses are protected; when the unexpected occurs. So breathe, we are all in this together. It is something that can be scary but it is not the end of the world, we must always just be prepared! I hope you enjoy this week's episode! If you loved it or hated it I would appreciate an honest review on whatever platform you are listening on.
We are in the process of uploading all of our previous podcasts since they got deleted! We are working on getting everything back up and running.
Thank you for your patience!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
For the Etsy sellers out there.
You may have received a emailthis week from Etsy saying that
your payment was going to bedelayed by a few days.
Well, turns out, silicon ValleyBank collapsed, and this is the
bank that Etsy uses, so it hasimpacted the small business
owner that sells on Etsy, and so, of course, I've had people
(00:21):
asking me about this, how it'sgoing to impact them.
Should they completely get awayfrom Etsy and start their own
website?
So in today's episode, I'mgoing to answer this, and we're
going to go over five simpleways to safeguard your business
when the unexpected happens, soyou will not be caught off guard
, and when the unexpected doeshappen, you will be prepared for
(00:44):
it.
So stay tuned.
Speaker 2 (00:45):
As natural creatives, we love our projects, we love
our craft time and we'll neversay no to a quick trip to
Michael's.
Although running a handmadebusiness is rewarding, it can
also be overwhelming.
Hey, creative mamas.
Casey here, and as a mother oftwo feisty toddlers and a
business owner myself, I get thenap time hustle and live it
(01:06):
daily.
Managing the house, jugglingthe kids and getting those
orders out on time can train thelife right out of us.
But what if there was a way toconvert that business of yours
into an online passive incomegenerating machine?
Well, I'm here to tell you.
It's not only possible, butcompletely yours for the taking.
I'm on a mission to give all ofthe nap time hustling crafty
(01:29):
moms out there the right tools,systems and strategies needed to
convert your own businessesinto consistent yet flexible
income online, all while doingwhat you do best creating.
So put those kiddos down fortheir nap what you do best
creating.
So put those kiddos down fortheir nap.
Pop in some earbuds and kickback.
This is where you stop tradingtime for dollars.
(01:49):
This is where you claim yourlife back.
This is the Naptime HustlePodcast.
Speaker 1 (01:58):
Okay.
So to start off with thatquestion, you know, does this
mean that, like we should beafraid?
Like you know, does this meanthat we should be afraid?
Does this mean that Etsy is infinancial trouble?
Is our business secure?
I've had re-questions similar tothis this week, so let's go
over it Now.
I never received an email fromEtsy, and I dug into that and
(02:23):
realized that it only was sentto the people who have their
Etsy account set up on dailypayouts, so they receive money
from Etsy every single day.
I have arranged mine to beevery month.
Some people choose every otherweek, just depends on what you
(02:43):
want, but the people that did orshould have received their
daily payout are the ones thatgot this email or should have
received some payout.
From what I am hearing.
Okay, and so Etsy has come out.
They've said that it's justgoing to be delayed a little bit
, but this kind of put peopleinto panic.
(03:05):
Anytime that a business thatyou're selling through is having
financial issues of any kind,people freak out.
To put it plain and simple,they just freak out.
Now I understand, and for goodreason, because, especially if
(03:27):
you're depending on that moneyto come in each day and it's not
.
It can be stressful, and so onething that I was asked by
someone recently was does thismean that I should go over and
start my own website, selling onmy own website?
I'm not saying that youshouldn't do that, but do I feel
like, because of this situationwith Etsy, you should go run
(03:51):
off and do that because of whatjust happened here?
No, because here's the thingwhen you have your own website
and many of you have beenlistening to this podcast, you
know my whole business that Iteach I feel that the best way
to get started online when youare a creative, when you're a
(04:13):
DIYer, crafter, builds with yourhands or creates with your
hands or designs.
Etsy is a great place and isthe leading marketplace online
to sell these type of digitalfiles, for these craft machines,
for these at-home creativebusinesses who also sell on Etsy
(04:34):
.
Okay, and so Etsy is a platformthat's easy to get started on,
because they already have all ofyour customers that you need
who are actively buying.
When you go over to social mediaor immediately start trying to
sell on social media or on yourwebsite or wherever you have to
(04:57):
one, convert the customer who'slooking at your stuff over on
social media.
People aren't actively buying.
They don't go to social mediato buy stuff.
Over on social media, peoplearen't actively buying.
They don't go to social mediato buy.
Yes, that does take place, butthe conversion is a little
harder.
Over on Etsy we have peoplesearching digital download for
Cricut.
They are looking to buy.
That sale is going to comeeasier because those people are
(05:23):
buyers.
Over on social media they arenot buyers Okay.
So what about your website?
They can be buyers there too,right, casey?
Yes, but getting people over toyour website when you're
starting from scratch, when youdon't have a following, when you
don't have an email list, acommunity, when you don't have a
following, when you don't havean email list, a community
(05:49):
starting to build your brand onyour own website, on your own
blog, from scratch, it's goingto take some time to gain
followers and enough followersand enough of an audience of an
email list to supplement yourtime that you're putting into it
.
You can start generating anincome faster when selling on
Etsy because they're alreadythere, they're ready to buy and
(06:10):
you don't have to transition orwork on that conversion one, but
then you also don't have tobuild up that customer base that
is going to pay the bills.
So again, that model that Iteach, I think the first place
to start is Etsy, in oursituation, selling digital
(06:34):
downloads, and then if,eventually, you want to build
your and I shouldn't say if youwant to build your and I
shouldn't say if you want to thesecond phase, once you have
your sales coming in, once youhave the revenue consistently
coming in through your Etsy shop, then it's time to start
(06:55):
working on building yourbranding and your audience off
of Etsy.
And why do I suggest that?
Because one it helps yourincome on Etsy.
It helps you in the algorithm.
You sending your own traffic.
It shows Etsy.
Look, I'm sending my own peopleand people are actually coming
to my website and your ownaudience is more likely to buy
(07:17):
than the millions of buyers onEtsy who are just roaming right
People on your list.
They've already decided thatthey like you, they like your
products, they want to buy fromyou.
And so when you're able to sendyour own traffic and your own
audience, that's even less hardof a sale than the Etsy audience
.
See, we're transitioning, we'regoing through this process,
(07:38):
we're stepping through thephases and with each phase, as
you build your following, itgets easier and easier to sell
to them if you're doing it right, okay, and so yes, you're
sending your.
You could send your audienceback to Etsy.
They can buy from you there.
But the key is the flexibilityit gives you.
Now they are your audienceBecause over here on Etsy,
(08:01):
that's their audience, that'stheir people.
They own that information.
You can only grab their emailaddress and put it onto your
email list and start promotingto them.
If you have their permission,they have to give you that.
They've already given that toEtsy.
Etsy send in emails like crazy,and so that is really your shop
(08:23):
is rented space on Etsy.
That's what it is.
Now.
When you transition, you add ashop or whatever to your own
website.
That's your space.
But it also comes with somedisadvantages, and I wanted to
point this out too, because Ithink the worst case scenario,
(08:44):
or maybe not even that, justsomething bad or unexpected
happens and people automaticallythink, oh my gosh, should I get
out of here?
Let's get out of Dallas.
This place isn't safe Becauseour minds are trying to keep us
safe.
Our minds are telling us toavoid danger.
(09:05):
It's normal, it's a naturalthing.
But here's the thing On yourown website, you have to find
your own bank.
You have to find your ownmarketplace.
You have to build your format,and nowadays it's easier than
back in the day when I startedand we had to really build up
(09:28):
the entire cart system and gridsystem from scratch or bits and
pieces of it from scratch, andget it all working together.
Now you can just go on over toShopify and it's already there.
You just grab a template andplug and play, but you are
dependent.
Let's say, you do go withShopify and that's your website,
and it is your website and it's, like you know,
(09:51):
digitalfannypackscom.
I don't even know, but I don'tknow why I thought fanny packs,
digital fanny packs, what theheck.
Anyways, now you're on Shopifyand Shopify is the platform that
you're depending on and it'sthere.
Whoever their payment gatewaysare through, that's who you
(10:13):
become dependent on.
Now you're transitioning fromEtsy over to, yes, a platform
that has more flexibility, whichis a good thing, but know that
there's also going to be someheadache not headache, a little
bit more work that comes withthis.
(10:33):
You need to be the one toupdate your site.
When something breaks, you haveto fix it.
When there's taxes or changesto tax laws, like Etsy is taking
out the taxes automatically themarketplace taxes so we don't
have to worry about that.
But when it's your own websiteand you're selling there, you
(10:54):
got to start keeping and stayingup to date on all that
information so that you staylegal and so that you're doing
things right.
And then what if your bank,whoever that is through, the
same thing happens.
And so it's not that the bankcollapsing.
Silicon Valley Bank collapsingis the same thing.
(11:16):
And this happening to Etsy means, or is, a horrible thing.
I mean, yeah, payments aredelayed a few days, and who's to
say that Etsy didn't havesomething in place already and
prepared for something bad likethis to happen?
I'm not a spokesperson for Etsy, don't know if this is true,
(11:38):
but who's to say that, becausepeople were able to receive
their funds, their payouts,within a few days, that that
wasn't a result of Etsy having abackup plan, whereas if they
hadn't, it could have been a lotlonger?
So we don't know, and that'sall I'm saying.
We don't know the specifics,but when you are selling online
(12:02):
in any way, shape or form, nomatter where you go, there's
going to be some other businessthat you're dependent upon, some
other platform that you'redepending upon, some other
payment gateway or bank orsoftware that if they go under
(12:23):
or they have problems, you'regoing to suffer too, and that's
all that happened here with Etsy, and so is everything just like
doom and gloom.
Casey, you aren't really sharingtoo many positive things about
this.
It just sounds like we'rescrewed if we do, we're screwed
if we don't.
No, that's not what I'm saying.
What I'm saying is these thingshappen no matter what, but what
(12:46):
we can do is control ourselves,is set up our businesses to be
a safeguard against theunpredictable, unexpected things
that it's not a matter of ifthey will happen, things that
it's not a matter of if theywill happen, it's when they will
happen.
So I've come up with fivethings that will safeguard your
(13:08):
business, that will prepare foreverything that I could think of
happening in your business.
So number one since this is allabout financial, I think most
important is an emergency fund.
We should already have anemergency fund.
Three to six months of expensessaved up If that's a lot, then
at least have one month, ifthat's too much, of expenses and
(13:31):
our businesses saved up.
This is not what we live off of.
This is where our businessexpenses are.
So have aim for I mean at leastone month, but I would say aim
to three to six months.
This is part of Dave Ramsey'smodel that he uses you guys have
heard me talk about him big fanand he is all about becoming
(13:53):
financially independent, whichis what I believe in and what I
hope all of you can do too,because when we are financially
independent in our businesses,when things like this happen,
it's a lot more stress-free andwe don't have to worry about
(14:14):
what if this happened.
Okay, so we can be and havethat peace.
Number two diversify income.
So you can have two shops.
Maybe it's not just digitalsales, maybe you can have a shop
selling physical, handmadeproducts.
Still, though, both of yourshops are on one marketplace, on
one platform.
Maybe you could also tryselling your downloads over on
(14:37):
design bundles or on your ownwebsite, or maybe it's a new
product entirely, maybe bloggingand earning a commission off of
your ads.
Maybe, over on social media,you can start sharing videos and
sharing the tools that you useand receiving kickback from that
.
There's lots and lots ofdifferent ways.
(14:57):
My way is education I sharewhat I teach and I earn an
additional income from thecourses that I sell online.
Okay, and so diversify yourincome.
Then you aren't justindependent on the one thing.
And so if something happensthat's related to that income,
(15:19):
that just disrupts that income,that disturbs it and is no
longer coming through.
Well, you have this to fallback on.
Number three backups.
Since we are digital sellers,we need to make sure that all of
our computer stuff, all of ourfiles, is saved, and I would say
physically.
So, yes, you save it to yourcomputer Also.
(15:41):
Get an external hard drive,back it up to there.
Mac makes it pretty easy.
They have a time machine thatyou can just automatically run
in the background, that it isconstantly backing all of the
files on your computer up to,and then you can also back up to
the cloud, like Google Drive,dropbox, icloud.
(16:05):
You can be backing up to thoseas well.
Then you have two copies, andthat's what I encourage you guys
.
There's two other places whereyou have things saved.
So if everything on yourcomputer goes kaput, then you
aren't SOL.
You have your external harddrive, but, just in case, you
also have a cloud version too.
(16:25):
Number four what if somethinghappens to you?
Maybe this business is the onlyincome that you have.
What do you do if you getinjured, heaven forbid, or
something happens.
Autopilot Put as much of yourbusiness on autopilot as you can
(16:46):
so you can outsource.
You can hire a team to help you, maybe hire a Etsy shop VA to
manage things.
You can automate your emails.
You can send thoseautomatically when people sign
up to your list and have aseries of emails that you send
them.
But then you can also automateyour social media.
(17:08):
Through Tailwind you canschedule emails and schedule
posts.
Well, not on Tailwind, tailwind.
You can schedule social mediaposts out to a month, several
months, and just have everythingplanned out in advance, and
that's what I encourage.
At like a month, several months,and just have everything
planned out in advance, andthat's what I encourage.
At least a month, have youremail scheduled out a month,
(17:28):
have your social media postsscheduled out a month.
And this is something that Ineed to do a lot better and
actually practice what I preach.
I always struggle with this onegetting ahead.
But what if something happensand you have to go put out this
(17:48):
fire over here or you have to gotake care of yourself and you
can't work on the business?
Autopilot, autopilot, everything.
And I would say start withwhatever contributes to your
income?
First, answer that what areasin my business, what do I do in
my business that generates orhelps generate the income?
(18:10):
Is it send out weekly emails,social media posts?
What is it?
Is it videos?
Get those scheduled out atleast a month I would say even
further in advance, if you can,okay.
And then, last but not least,security Online security.
It's getting to be bigger andbigger of an issue, and so, as
(18:32):
online business owners, we needto make sure that all of our
software is up to date.
Our computer and operatingsoftware is up to date.
We need to change our passwordsregularly and have passwords
that are complex, so it's notjust like Peggy is the name
right.
You need to make sure that it'slike different capitalizations
(18:54):
and characters and numbers,because the harder or the longer
string and more complex thepassword is, the harder it will
be to crack.
And then also two-factorauthentication turning that on
on all of your accounts,wherever that is.
That will help as well.
Okay, you guys?
So those are the five thingsthat I recommend to safeguard
(19:15):
your business.
If you enjoyed this episode andlearned something from this
that you appreciated, I wouldlove it if you could just give
me a review, an honest review.
Let me know how I'm doing.
I would appreciate that.
All right, you guys.
That's it.
I'll see you next time.
Bye.
For the Etsy sellers out there.
You may have received a emailthis week from Etsy saying that
your payment was going to bedelayed by a few days.
Well, turns out, silicon ValleyBank collapsed, and this is the
bank that Etsy uses, so it hasimpacted the small business
owner that sells on Etsy, and so, of course, I've had people
(00:21):
asking me about this, how it'sgoing to impact them.
Should they completely get awayfrom Etsy and start their own
website?
So in today's episode, I'mgoing to answer this, and we're
going to go over five simpleways to safeguard your business
when the unexpected happens, soyou will not be caught off guard
, and when the unexpected doeshappen, you will be prepared for
(00:44):
it.
So stay tuned.
Speaker 2 (00:45):
As natural creatives, we love our projects, we love
our craft time and we'll neversay no to a quick trip to
Michael's.
Although running a handmadebusiness is rewarding, it can
also be overwhelming.
Hey, creative mamas.
Casey here, and as a mother oftwo feisty toddlers and a
business owner myself, I get thenap time hustle and live it
(01:06):
daily.
Managing the house, jugglingthe kids and getting those
orders out on time can train thelife right out of us.
But what if there was a way toconvert that business of yours
into an online passive incomegenerating machine?
Well, I'm here to tell you.
It's not only possible, butcompletely yours for the taking.
I'm on a mission to give all ofthe nap time hustling crafty
(01:29):
moms out there the right tools,systems and strategies needed to
convert your own businessesinto consistent yet flexible
income online, all while doingwhat you do best creating.
So put those kiddos down fortheir nap what you do best
creating.
So put those kiddos down fortheir nap.
Pop in some earbuds and kickback.
This is where you stop tradingtime for dollars.
(01:49):
This is where you claim yourlife back.
This is the Naptime HustlePodcast.
Speaker 1 (01:58):
Okay.
So to start off with thatquestion, you know, does this
mean that, like we should beafraid?
Like you know, does this meanthat we should be afraid?
Does this mean that Etsy is infinancial trouble?
Is our business secure?
I've had re-questions similar tothis this week, so let's go
over it Now.
I never received an email fromEtsy, and I dug into that and
(02:23):
realized that it only was sentto the people who have their
Etsy account set up on dailypayouts, so they receive money
from Etsy every single day.
I have arranged mine to beevery month.
Some people choose every otherweek, just depends on what you
(02:43):
want, but the people that did orshould have received their
daily payout are the ones thatgot this email or should have
received some payout.
From what I am hearing.
Okay, and so Etsy has come out.
They've said that it's justgoing to be delayed a little bit
, but this kind of put peopleinto panic.
(03:05):
Anytime that a business thatyou're selling through is having
financial issues of any kind,people freak out.
To put it plain and simple,they just freak out.
Now I understand, and for goodreason, because, especially if
(03:27):
you're depending on that moneyto come in each day and it's not
.
It can be stressful, and so onething that I was asked by
someone recently was does thismean that I should go over and
start my own website, selling onmy own website?
I'm not saying that youshouldn't do that, but do I feel
like, because of this situationwith Etsy, you should go run
(03:51):
off and do that because of whatjust happened here?
No, because here's the thingwhen you have your own website
and many of you have beenlistening to this podcast, you
know my whole business that Iteach I feel that the best way
to get started online when youare a creative, when you're a
(04:13):
DIYer, crafter, builds with yourhands or creates with your
hands or designs.
Etsy is a great place and isthe leading marketplace online
to sell these type of digitalfiles, for these craft machines,
for these at-home creativebusinesses who also sell on Etsy
(04:34):
.
Okay, and so Etsy is a platformthat's easy to get started on,
because they already have all ofyour customers that you need
who are actively buying.
When you go over to social mediaor immediately start trying to
sell on social media or on yourwebsite or wherever you have to
(04:57):
one, convert the customer who'slooking at your stuff over on
social media.
People aren't actively buying.
They don't go to social mediato buy stuff.
Over on social media, peoplearen't actively buying.
They don't go to social mediato buy.
Yes, that does take place, butthe conversion is a little
harder.
Over on Etsy we have peoplesearching digital download for
Cricut.
They are looking to buy.
That sale is going to comeeasier because those people are
(05:23):
buyers.
Over on social media they arenot buyers Okay.
So what about your website?
They can be buyers there too,right, casey?
Yes, but getting people over toyour website when you're
starting from scratch, when youdon't have a following, when you
don't have an email list, acommunity, when you don't have a
following, when you don't havean email list, a community
(05:49):
starting to build your brand onyour own website, on your own
blog, from scratch, it's goingto take some time to gain
followers and enough followersand enough of an audience of an
email list to supplement yourtime that you're putting into it
.
You can start generating anincome faster when selling on
Etsy because they're alreadythere, they're ready to buy and
(06:10):
you don't have to transition orwork on that conversion one, but
then you also don't have tobuild up that customer base that
is going to pay the bills.
So again, that model that Iteach, I think the first place
to start is Etsy, in oursituation, selling digital
(06:34):
downloads, and then if,eventually, you want to build
your and I shouldn't say if youwant to build your and I
shouldn't say if you want to thesecond phase, once you have
your sales coming in, once youhave the revenue consistently
coming in through your Etsy shop, then it's time to start
(06:55):
working on building yourbranding and your audience off
of Etsy.
And why do I suggest that?
Because one it helps yourincome on Etsy.
It helps you in the algorithm.
You sending your own traffic.
It shows Etsy.
Look, I'm sending my own peopleand people are actually coming
to my website and your ownaudience is more likely to buy
(07:17):
than the millions of buyers onEtsy who are just roaming right
People on your list.
They've already decided thatthey like you, they like your
products, they want to buy fromyou.
And so when you're able to sendyour own traffic and your own
audience, that's even less hardof a sale than the Etsy audience
.
See, we're transitioning, we'regoing through this process,
(07:38):
we're stepping through thephases and with each phase, as
you build your following, itgets easier and easier to sell
to them if you're doing it right, okay, and so yes, you're
sending your.
You could send your audienceback to Etsy.
They can buy from you there.
But the key is the flexibilityit gives you.
Now they are your audienceBecause over here on Etsy,
(08:01):
that's their audience, that'stheir people.
They own that information.
You can only grab their emailaddress and put it onto your
email list and start promotingto them.
If you have their permission,they have to give you that.
They've already given that toEtsy.
Etsy send in emails like crazy,and so that is really your shop
(08:23):
is rented space on Etsy.
That's what it is.
Now.
When you transition, you add ashop or whatever to your own
website.
That's your space.
But it also comes with somedisadvantages, and I wanted to
point this out too, because Ithink the worst case scenario,
(08:44):
or maybe not even that, justsomething bad or unexpected
happens and people automaticallythink, oh my gosh, should I get
out of here?
Let's get out of Dallas.
This place isn't safe Becauseour minds are trying to keep us
safe.
Our minds are telling us toavoid danger.
(09:05):
It's normal, it's a naturalthing.
But here's the thing On yourown website, you have to find
your own bank.
You have to find your ownmarketplace.
You have to build your format,and nowadays it's easier than
back in the day when I startedand we had to really build up
(09:28):
the entire cart system and gridsystem from scratch or bits and
pieces of it from scratch, andget it all working together.
Now you can just go on over toShopify and it's already there.
You just grab a template andplug and play, but you are
dependent.
Let's say, you do go withShopify and that's your website,
and it is your website and it's, like you know,
(09:51):
digitalfannypackscom.
I don't even know, but I don'tknow why I thought fanny packs,
digital fanny packs, what theheck.
Anyways, now you're on Shopifyand Shopify is the platform that
you're depending on and it'sthere.
Whoever their payment gatewaysare through, that's who you
(10:13):
become dependent on.
Now you're transitioning fromEtsy over to, yes, a platform
that has more flexibility, whichis a good thing, but know that
there's also going to be someheadache not headache, a little
bit more work that comes withthis.
(10:33):
You need to be the one toupdate your site.
When something breaks, you haveto fix it.
When there's taxes or changesto tax laws, like Etsy is taking
out the taxes automatically themarketplace taxes so we don't
have to worry about that.
But when it's your own websiteand you're selling there, you
(10:54):
got to start keeping and stayingup to date on all that
information so that you staylegal and so that you're doing
things right.
And then what if your bank,whoever that is through, the
same thing happens.
And so it's not that the bankcollapsing.
Silicon Valley Bank collapsingis the same thing.
(11:16):
And this happening to Etsy means, or is, a horrible thing.
I mean, yeah, payments aredelayed a few days, and who's to
say that Etsy didn't havesomething in place already and
prepared for something bad likethis to happen?
I'm not a spokesperson for Etsy, don't know if this is true,
(11:38):
but who's to say that, becausepeople were able to receive
their funds, their payouts,within a few days, that that
wasn't a result of Etsy having abackup plan, whereas if they
hadn't, it could have been a lotlonger?
So we don't know, and that'sall I'm saying.
We don't know the specifics,but when you are selling online
(12:02):
in any way, shape or form, nomatter where you go, there's
going to be some other businessthat you're dependent upon, some
other platform that you'redepending upon, some other
payment gateway or bank orsoftware that if they go under
(12:23):
or they have problems, you'regoing to suffer too, and that's
all that happened here with Etsy, and so is everything just like
doom and gloom.
Casey, you aren't really sharingtoo many positive things about
this.
It just sounds like we'rescrewed if we do, we're screwed
if we don't.
No, that's not what I'm saying.
What I'm saying is these thingshappen no matter what, but what
(12:46):
we can do is control ourselves,is set up our businesses to be
a safeguard against theunpredictable, unexpected things
that it's not a matter of ifthey will happen, things that
it's not a matter of if theywill happen, it's when they will
happen.
So I've come up with fivethings that will safeguard your
(13:08):
business, that will prepare foreverything that I could think of
happening in your business.
So number one since this is allabout financial, I think most
important is an emergency fund.
We should already have anemergency fund.
Three to six months of expensessaved up If that's a lot, then
at least have one month, ifthat's too much, of expenses and
(13:31):
our businesses saved up.
This is not what we live off of.
This is where our businessexpenses are.
So have aim for I mean at leastone month, but I would say aim
to three to six months.
This is part of Dave Ramsey'smodel that he uses you guys have
heard me talk about him big fanand he is all about becoming
(13:53):
financially independent, whichis what I believe in and what I
hope all of you can do too,because when we are financially
independent in our businesses,when things like this happen,
it's a lot more stress-free andwe don't have to worry about
(14:14):
what if this happened.
Okay, so we can be and havethat peace.
Number two diversify income.
So you can have two shops.
Maybe it's not just digitalsales, maybe you can have a shop
selling physical, handmadeproducts.
Still, though, both of yourshops are on one marketplace, on
one platform.
Maybe you could also tryselling your downloads over on
(14:37):
design bundles or on your ownwebsite, or maybe it's a new
product entirely, maybe bloggingand earning a commission off of
your ads.
Maybe, over on social media,you can start sharing videos and
sharing the tools that you useand receiving kickback from that
.
There's lots and lots ofdifferent ways.
(14:57):
My way is education I sharewhat I teach and I earn an
additional income from thecourses that I sell online.
Okay, and so diversify yourincome.
Then you aren't justindependent on the one thing.
And so if something happensthat's related to that income,
(15:19):
that just disrupts that income,that disturbs it and is no
longer coming through.
Well, you have this to fallback on.
Number three backups.
Since we are digital sellers,we need to make sure that all of
our computer stuff, all of ourfiles, is saved, and I would say
physically.
So, yes, you save it to yourcomputer Also.
(15:41):
Get an external hard drive,back it up to there.
Mac makes it pretty easy.
They have a time machine thatyou can just automatically run
in the background, that it isconstantly backing all of the
files on your computer up to,and then you can also back up to
the cloud, like Google Drive,dropbox, icloud.
(16:05):
You can be backing up to thoseas well.
Then you have two copies, andthat's what I encourage you guys
.
There's two other places whereyou have things saved.
So if everything on yourcomputer goes kaput, then you
aren't SOL.
You have your external harddrive, but, just in case, you
also have a cloud version too.
(16:25):
Number four what if somethinghappens to you?
Maybe this business is the onlyincome that you have.
What do you do if you getinjured, heaven forbid, or
something happens.
Autopilot Put as much of yourbusiness on autopilot as you can
(16:46):
so you can outsource.
You can hire a team to help you, maybe hire a Etsy shop VA to
manage things.
You can automate your emails.
You can send thoseautomatically when people sign
up to your list and have aseries of emails that you send
them.
But then you can also automateyour social media.
(17:08):
Through Tailwind you canschedule emails and schedule
posts.
Well, not on Tailwind, tailwind.
You can schedule social mediaposts out to a month, several
months, and just have everythingplanned out in advance, and
that's what I encourage.
At like a month, several months,and just have everything
planned out in advance, andthat's what I encourage.
At least a month, have youremail scheduled out a month,
(17:28):
have your social media postsscheduled out a month.
And this is something that Ineed to do a lot better and
actually practice what I preach.
I always struggle with this onegetting ahead.
But what if something happensand you have to go put out this
(17:48):
fire over here or you have to gotake care of yourself and you
can't work on the business?
Autopilot, autopilot, everything.
And I would say start withwhatever contributes to your
income?
First, answer that what areasin my business, what do I do in
my business that generates orhelps generate the income?
(18:10):
Is it send out weekly emails,social media posts?
What is it?
Is it videos?
Get those scheduled out atleast a month I would say even
further in advance, if you can,okay.
And then, last but not least,security Online security.
It's getting to be bigger andbigger of an issue, and so, as
(18:32):
online business owners, we needto make sure that all of our
software is up to date.
Our computer and operatingsoftware is up to date.
We need to change our passwordsregularly and have passwords
that are complex, so it's notjust like Peggy is the name
right.
You need to make sure that it'slike different capitalizations
(18:54):
and characters and numbers,because the harder or the longer
string and more complex thepassword is, the harder it will
be to crack.
And then also two-factorauthentication turning that on
on all of your accounts,wherever that is.
That will help as well.
Okay, you guys?
So those are the five thingsthat I recommend to safeguard
(19:15):
your business.
If you enjoyed this episode andlearned something from this
that you appreciated, I wouldlove it if you could just give
me a review, an honest review.
Let me know how I'm doing.
I would appreciate that.
All right, you guys.
That's it.
I'll see you next time.
Bye.
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