Before You Quit Your Job, Ask Yourself . . .

1. Is there really a market for this product? Just because family and friends say your product is great doesn’t mean the market will be so kind. Don’t kid yourself. Test the waters by trying a small local show or a church boutique.

2. Can you sell? Being friendly and outgoing is often more important than having a good product, says Tracy Beckman, owner of Beckman’s Handcrafted Gift Show. “I’ve seen good salespeople with mediocre products do quite well.”

3. Do you have business skills? Your art will only carry you so far, but business skills are key to survival. Can you keep books, track inventory, manage growth, money and employees, and deliver when and what you promise?

4. Do you have a plan for business growth? It’s best to start slow, then add a show at a time. “People who grow too quickly are at more risk than those who don’t grow at all,” says Beckman.

5. Do you really know how much you need to sell to break even, then make a profit? People accustomed to regular paychecks for covering living expenses often don’t grasp that the money that comes in must cover business expenses, raw materials and overhead, and then maybe give the crafter something to live on. “Knowing how much of the money to keep for yourself--and how much to reinvest in your company--is probably the hardest part of the business,” says Laurie Jo Phillips of Laurie Jo Designs.

6. How will you market your product? Will you exhibit at local craft fairs or wholesale handcraft shows? Will you hire a manufacturer’s rep or try to get your products in craft malls? Will you advertise, build a mailing list, network? Make a plan.

7. Do you have self-discipline? Being self-employed is not for people who don’t like to work. You have to go to work early and stay late. Forget about vacation pay. “But if you enjoy what you do, that will carry you through days when the show hasn’t gone too well, or no one’s buying your latest creation,” says Phillips.

8. Can you take criticism? In spite of the fact that these creations come from the depths of your psyche, you need to respond to buyers, says Beckman. If they say they’d like the piece larger or in a different color, make it larger and in a different color.

9. Will you be able to let go as you grow? Crafters start out doing everything, but as they grow they have to delegate and that, for some, is hard. You can’t make money unless you have volume, and you can’t do a volume business without help.

10. How will you change your product with the times? Even if your product is hot one season, that doesn’t mean it will stay hot. Survivors keep up on trends and keep their products fresh and evolving.

Bonus question: Do you have a rich uncle?