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How to Make Money on Etsy

But what if you would like to make your Etsy business your full-time occupation and not just a hobby side hustle? There are thousands of people out there who could appreciate your art, and here are a few tips on reaching them.

Published

2 years ago

February 15, 2022

TwinzTech

There are thousands of people out there who could appreciate your art, and here are a few tips on reaching them.

Esty offers creative people the possibility to offer handcrafted items with ease and grace, and it is the most popular platform for unique artisan items. But what if you would like to make your Etsy business your full-time occupation and not just a hobby side hustle? There are thousands of people out there who could appreciate your art, and here are a few tips on reaching them.

Table of Contents

1. Create a Captivating Brand Identity

When in sales, you need to create your own brand identity – how you would like people to perceive you and your products. This is a conscious process, and you should put some time and effort into doing it.

You can start by selecting an evocative brand name, and it should be something that reminds you of the style of the products you will sell. If you already have a brand, you can use an Etsy username checker to see if it is available. If it isn’t, try using variations so that your visitors can find you easily.

After selecting your brand name, think of your target audience. Who will visit your shop and buy it? Create a buyer persona and list all their preferences in your mind’s eye. It is crucial to create your product descriptions, banners, images, and stories around your shop so that this buyer persona can identify with them.

When they visit your shop, they will feel mesmerized by all it is about because it will be like you understand them. They feel at home. As an outcome, they are more likely to buy your items – because they have already created a soul-bound relationship with you!

Create a Captivating Brand Identity

2. Make Great Photos of Your Products

The only way your potential buyers can see your products is through the product pictures you post. This is why it is vital to the flourishing of your business to post fantastic pictures of your products. You do not need special equipment; most smartphones can take high-quality photographs nowadays. Learn the basics of product photography and carefully select the light and the angle to make your products shine in the best way possible.

If your photos are appealing and engaging, there is a greater chance that visitors will turn into buyers!

3. Tell Stories

People that venture to Etsy instead of Amazon or Ikea are inspired by the idea of having something unique, made with love by a creative person. They love to support small businesses, and they love to hear the stories of the business owners. Do not be shy to tell your story and how each product is made. This transparency will add authenticity and will encourage more sales of your items.

4. Use Relevant Keywords and Tags

When creating your listings, you can add tags and keywords in your product names and descriptions. Please take full advantage of them as people who come to Etsy usually search for a specific product, and they type in in the search bar a keyword or key phrase. When your product name and listing contain that, they can find you in the search results!

5. Take Advantage of Etsy Education for Sellers

Most people that open a shop on Etsy are not business people but artists and creators. This is why Etsy has provided a whole set of educational tools that can help you with different aspects of running a handicraft business. From helpful newsletters with insights to forums, handbooks for beginners, a supportive community, and much more!

Running a good Etsy shop is possible, and you too can achieve it. All it takes is some passion, desire to learn and improve, and a lot of hard work!

Business

Navigating the Process of Selling Deceased Estate Shares

This article aims to provide a comprehensive guide to selling shares from a deceased estate. Process of Selling Deceased Estate Shares.

Published

4 days ago

May 9, 2024

TwinzTech

Navigating the Process of Selling Deceased Estate Shares

Table of Contents

1. Understanding the Basics of Selling Deceased Estate Shares

Dealing with a deceased estate can be a challenging and emotional process, especially when it comes to handling financial assets like shares. This article aims to provide a comprehensive guide to selling shares from a deceased estate.

2. What are Deceased Estate Shares?

Deceased estate shares refer to the stocks and shares that were owned by an individual who has passed away. These shares become part of the deceased’s estate and are subject to the terms of their will or estate plan.

3. The Importance of Valuing the Shares

The first step in selling deceased estate shares is to obtain a current valuation. This valuation is crucial for several reasons: it helps in distributing the estate among beneficiaries, it may be necessary for tax purposes, and it gives an idea of the market value of the shares.

4. Legal Requirements and Executor Responsibilities

The executor of the estate plays a pivotal role in the management and distribution of the deceased’s assets. This section will cover the legal responsibilities and steps the executor needs to take to lawfully sell the shares.

5. Obtaining Probate

Before any action can be taken with the shares, it’s often necessary to obtain probate. Probate is a legal process that confirms the executor’s authority to deal with the deceased’s assets.

Transferring Shares into the Executor’s Name

Once probate is granted, shares may need to be transferred into the name of the executor. This process varies depending on the company and the type of shares.

6. The Process of Selling Shares

After completing legal formalities, the executor can proceed with selling the shares. This section will outline the steps involved in this process, including choosing a brokerage or financial service, understanding market conditions, and making informed decisions.

Deciding on the Right Time to Sell

Timing can significantly impact the returns from selling shares. Executors need to consider market conditions and financial advice to determine the best time to sell.

Completing the Sale

This subsection will detail the actual process of selling shares, including placing orders, handling transaction fees, and ensuring all regulatory requirements are met.

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7. Navigating Tax Implications and Reporting

Managing tax obligations is a critical aspect of selling deceased estate shares. This section will explain the potential tax implications and the importance of accurate reporting for both capital gains tax and inheritance tax considerations.

Understanding Capital Gains Tax Responsibilities

When shares are sold, any profit made from the time of the deceased’s passing to the sale date may be subject to capital gains tax. Executors need to be aware of these implications and plan accordingly.

Inheritance Tax Considerations

In some jurisdictions, the value of the deceased estate’s shares might impact inheritance tax calculations. It’s essential for executors to understand these aspects in order to ensure compliance with tax laws.

8. Common Challenges and How to Overcome Them

Selling deceased estate shares can present unique challenges. This section will discuss common issues such as disputed wills, fragmented information about the shares, and market volatility.

Dealing with Disputed Wills and Beneficiary Disagreements

Disputes over the will or disagreements among beneficiaries can complicate the process. Executors must handle these situations delicately and legally.

Managing Market Volatility

Shares can be subject to market fluctuations. Executors should be prepared for this volatility and may need to consult financial advisors to navigate these waters effectively.

9. Tips for Executors Handling Deceased Estate Shares

This section will provide practical advice for executors, including the importance of seeking professional advice, keeping thorough records, and communicating clearly with beneficiaries.

Seeking Professional Financial and Legal Advice

The complexity of selling shares from a deceased estate often necessitates professional advice. This can range from legal counsel to financial advisory services.

Record Keeping and Communication with Beneficiaries

Maintaining transparent and thorough records is crucial. Executors should also prioritize clear and consistent communication with all beneficiaries to avoid misunderstandings.

Conclusion

Selling shares from a deceased estate is a responsibility that requires careful attention to legal, financial, and interpersonal dynamics. By understanding the process, staying informed about tax obligations, and tackling challenges head-on, executors can fulfill their duties effectively and respectfully.