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If I Were BROKE, These Are 4 Things I Would Do 

Creative Hive
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We can’t always choose our circumstances - and sometimes, we might find ourselves in a position where we’re seriously struggling financially. It’s not a great boat to be in.
I know that the recent pandemic put a lot of stress on our pockets and it might not feel like we have a way out. Believe me when I say there is hope for you and your online business - regardless of where you are financially. Today, I’m here to share some tips that can help you regain an income and get back on track financially. In short, if I were broke - here are four things I’d do to pick things up again.
I’ve been running my own businesses for 15 years now, and I’ve built these from the ground up - without much to speak of financially, when I started out. Today, my first business, Tiny Hands, makes $200k a year and that’s the smallest of the three businesses I own. So, I know firsthand how to build up from zero - and I’m happy to share my insight with you.
If for whatever reason, I found myself down on my luck financially, here are the four things I would do.
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10 мар 2021

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Комментарии : 91   
@CreativeHiveCo
@CreativeHiveCo 3 года назад
🚨NEW FREE WORKSHOP FOR 2022🚨 Learn how to create a PROFITABLE handmade business online without keeping up with social media 🔽 Watch the free workshop here: bit.ly/3xKnFMA
@denisel1553
@denisel1553 3 года назад
I'm a simple woman: I see Mei and I click.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Haha! I like that formula! 😂 Thank you for clicking and watching!
@elianamckee
@elianamckee 11 месяцев назад
Me too!❤❤❤
@AmyLouiseArt
@AmyLouiseArt 3 года назад
Thank you Mei! So many people including me struggle with finances - I feel a lot of pressure at the moment to try new things, create more art, launch new products, etc, but money is tight and I don't feel I'm able to do all these things to make a success from my art. I've been working two jobs for 4 years as well to support myself so I find this video really helpful and I definitely don't want to give up! This makes me feel better knowing that I can still be successful with what I have got 💜
@CreativeHiveCo
@CreativeHiveCo 3 года назад
It can be very frustrating, Amy, to not be able to just invest how we want to. But creatives can definitely be....creative 😉 when it comes to work-arounds.
@mcee555
@mcee555 3 года назад
This was really solid + dynamic advice! You considered different contexts and gave people enough options to choose from :)
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Thanks so much - I'm happy to hear that! I appreciate you watching!
@jamiebee408
@jamiebee408 3 года назад
I love this channel so much. Thanks, Mei! Your advice is always informational, as well as inspirational.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
I really appreciate that! (Love your avatar, btw!) Thank you so much for watching!
@jamiebee408
@jamiebee408 3 года назад
@@CreativeHiveCo Thanks! 😊🎨
@RuthAnnNordin
@RuthAnnNordin 3 года назад
As soon as I heard "credit card", I could hear Dave Ramsey screaming to deliver pizzas, save up the cash, and then invest the $2,000 into the business. LOL For people who can manage credit cards well, I think this strategy could work. You really have to be good to pull it off.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Yes, any strategy using credit cards has to be for those who are disciplined enough to use them wisely, for sure. I think of it kind of as a small loan without going through the loan processes. I recommend anyone doing this have a payback strategy in place.
@emersonmeyer
@emersonmeyer 3 года назад
Your videos are always so informational and inspirational! Love this thumbnail, too! haha
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Haha, thank you, Emerson! I appreciate you watching! 😊
@jazriv2949
@jazriv2949 3 года назад
You have the BEST content out there for starting your business, thank you so much.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
I appreciate that so much! I really appreciate you watching!
@handieworksnails1217
@handieworksnails1217 3 года назад
your videos are always so informative and helpful thank you so much, you are such a lovely person xx
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Awww, thank you so much! I can't tell you how much I appreciate that!
@lnc-to4ku
@lnc-to4ku 3 года назад
Thank you so much for the great advice!💗
@CreativeHiveCo
@CreativeHiveCo 3 года назад
You are so welcome! Thank you so much for watching!
@melaniedyal5883
@melaniedyal5883 2 года назад
Love your videos! Honest, practical advice! Thank you
@CreativeHiveCo
@CreativeHiveCo 2 года назад
Thank you, Melaine! I really appreciate you watching!
@Whitedarkish
@Whitedarkish 3 года назад
Thanks for the advice! I’m lucky to have a great family that supports my small venture. I show them my monthly sales to gain their trust and that their investments in me is on good hands. Hope this helps to motivate me to work through this situation as well :)
@CreativeHiveCo
@CreativeHiveCo 3 года назад
I love that, Derence! It's great to have such an amazing support system - you are very lucky!
@annepower3313
@annepower3313 3 года назад
Love this video and your channel. So helpful and concise. Thank you x
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Thank you so much, Anne! I appreciate that so much. I'd love for you to subscribe if you haven't yet! 💗
@annepower3313
@annepower3313 3 года назад
@@CreativeHiveCo Already have, I listen to you daily at the moment! : D
@penguin_mom
@penguin_mom 2 года назад
Thank you Mei for this excellent video! My husband and I are struggling with finances. He doesn't have a job and I am a graphic designer, but since I got married haven't been working. I feel like I don't know how to start my own business. although I have a lot of ideas and designs already done! I take inspiration from videos on youtube about people that are succeeding in some area, and always there is a phrase about them that speaks to me. So I take notes always. And I am taking a course about digital marketing now.
@CreativeHiveCo
@CreativeHiveCo 2 года назад
If you haven't seen my free workshop yet, you might be interested in it! www.creativehiveco.com/workshop/?
@btdarterschannel112
@btdarterschannel112 3 года назад
Thanks for the tips, Mei! 😃📣📹👍
@CreativeHiveCo
@CreativeHiveCo 3 года назад
You're welcome! Thank you so much for watching!
@naomihenry1925
@naomihenry1925 3 года назад
Thank you Mei.so useful and timely for me!!
@CreativeHiveCo
@CreativeHiveCo 3 года назад
I'm so glad to hear that, Naomi! Thank you so much for watching!
@cathyfarmer3691
@cathyfarmer3691 Год назад
Thank you for doing these videos, you have been a world of help to me.
@CreativeHiveCo
@CreativeHiveCo Год назад
Thank you so much, Cathy! This really made my day!! ❤️
@desleykakoulidisgallaway3382
@desleykakoulidisgallaway3382 3 года назад
Mei thanks for your great advice
@CreativeHiveCo
@CreativeHiveCo 3 года назад
My pleasure!! Thank you so much for watching!
@jazriv2949
@jazriv2949 3 года назад
I would love to see a video on step by step how to start a Shopify account/website.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Hi Jaz! I have a blog post on that! www.creativehiveco.com/how-to-build-your-own-website-with-shopify-in-under-1-hour/
@smomslifestyle
@smomslifestyle Год назад
Great advice Mei for shop owners just getting started too. 😊
@CreativeHiveCo
@CreativeHiveCo Год назад
Thank you so much! ❤️
@remj17
@remj17 3 года назад
Hi Mei, I am trying to get my ideas into profitable business but I have sooooo many quesrions. Specially when it comes to taxes. Where can I go to figure out tax questions. Also, did you get a tax id for each of business? Or did you get one same tax id where all your hand made itema get taxes collected? I know its likely that you wont see this but maybe someone else can jump in and guide me in the right direction. Great Job woth your channel, i have definitely learned much from you.
@sabrinatortora6019
@sabrinatortora6019 3 года назад
I have the same questions. The tax part scares me. I believe if you don’t have a tangible product you don’t have to collect sales tax.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Hi Reyna! I really like TaxJar for tax questions. www.taxjar.com/ You can also look at your state's Secretary of State website because they will often have specific information for your state. I did get a tax ID for each business so that I could keep information separate, but you don't have to do that if you don't want to and just use one blanket for each. (I am NOT a tax professional so you might want to check in with an accountant to do what's best for your situation.) I also have this video on setting up a business legally that you might like! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-DmyTnvth2ps.html
@darrylgoodwin7461
@darrylgoodwin7461 3 года назад
As always you so informative, thinking of setting up outside and sell some of my creations to generate $$ now that i've gotten a my vaccines and of course pratice being safe, I may make a few dollars to put into my business for a websites. 🙏🏼
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Fantastic Darryl!
@JC-lg3ue
@JC-lg3ue 3 года назад
Hi , great video's , I'm looking to get into digital art what will be the best tool for this ? Is the ipad pro good for this ? Kind regards
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Hi JC! I've got a video dedicated to digital art! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-uzFeXqhHxEE.html
@JC-lg3ue
@JC-lg3ue 3 года назад
@@CreativeHiveCo thank you.
@katden
@katden Год назад
Mei ypu are absolutely adorable , I enjoy listening to you and you are a very good speaker, You've grown a fabulous business. Your advice is spot on.
@CreativeHiveCo
@CreativeHiveCo Год назад
Thank you so much for the sweet words, Kat!! It really made my day! ❤️
@wittyk8581
@wittyk8581 2 месяца назад
Thank you for being there for all of us. You are truly inspiring
@CreativeHiveCo
@CreativeHiveCo 2 месяца назад
Aw, thanks a bunch! 🙌 Let's keep inspiring each other!
@liliespetals19
@liliespetals19 3 года назад
Do you have a video about the financial aspects, like prepping for taxes?
@CreativeHiveCo
@CreativeHiveCo 3 года назад
I have a blog on bookkeeping apps here: www.creativehiveco.com/review-top-bookkeeping-apps-makers/ Beyond that, I typically recommend taxjar.com for all things taxes!
@liliespetals19
@liliespetals19 3 года назад
@@CreativeHiveCo nice! Your videos make everything seem simple. I know a lot of sellers get anxious about the tax aspects, especially when it's their first time or first business. Thanks for the link, I'll check it out!
@asiac8968
@asiac8968 3 года назад
The best thing you can do is maintaining records of all business related transactions and keeping these transactions separate from personal transactions.
@hauwakulu6772
@hauwakulu6772 3 года назад
I like the advice it making my life more easier thank you very very much😃😃😃😃😃😃😃
@CreativeHiveCo
@CreativeHiveCo 3 года назад
I'm so happy to hear that!!!
@sharamills6622
@sharamills6622 3 года назад
Wo, I want to hear about your husband POD art biz doing 900k!!!
@CreativeHiveCo
@CreativeHiveCo 3 года назад
I talk about it here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-GbdxCZwP_p4.html and here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-0dnunIe-Epo.html
@EngineeringFun
@EngineeringFun Год назад
Mei-Mei, this is one of the prettiest channels on YT and you are a little bee. One question, when you say it makes 200k/year, it means revenue or profit?
@CreativeHiveCo
@CreativeHiveCo Год назад
Aww. Thank you so much!! ❤️ It's revenue. 😊
@EngineeringFun
@EngineeringFun Год назад
@@CreativeHiveCo Typically, in the ballpark, what kind of profit margin percentage we are looking at on your tiny hands and your husband's store? Thanks!
@CreativeHiveCo
@CreativeHiveCo Год назад
Hi! I explained about pricing (which is what my husband and I also use) in my pricing formula video here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H3r9M3QhnNQ.html
@nandykats1432
@nandykats1432 3 года назад
Hi sister is your course "a sale a day " useful if I plan to own a part time biz?
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Yes, it is! The course can be applied to your part time business if you want to see consistent sales from it.
@nandykats1432
@nandykats1432 3 года назад
@@CreativeHiveCo okay sis!
@BenitaMCWCaruthers
@BenitaMCWCaruthers 3 года назад
thank you very imformative. I am looking to start an online craft site to assist sell my product. I thonk your pricing metgod and the suggestions of how to start up with low to no cash is good except for me I have not been good at using cc in the past so I steer clear of cc and go with what I have on hand luckily I have lots of inventory matterial to use on hand.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
That is good that you know that about yourself, Benita. That way you are not putting yourself in a bad position. That is very smart.
@emilly1987
@emilly1987 3 года назад
Now......what if you don't have a credit card, can't and don't want to get one. Any real advice?
@CreativeHiveCo
@CreativeHiveCo 3 года назад
You can try a crowdsourcing app like Kickstarter or Kiva.
@pokepeyy
@pokepeyy 3 года назад
get a personal loan it won't hurt your credit and has a lot lower interest rate, but you should get a credit card most likely you'd start at a $500 credit limit a month (go through your bank it'll all be in the same place and make it easy) you should use between 30-10% of your credit limit and pay it off in full every month. (pretend its your debt card only use what you have and the less you spend on it the higher and faster your credit will go up) credit card make up 75% of your credit score so if you use it in the right way you will have a great credit score which allows you to have more and better options with just about anything in life, that's why you also don't want to go into debt with a credit card bc it affects your score so much. 1. get a personal loan 2. get a credit card 3. use 30-10% or less than your credit limit 4. PAY YOUR CREDIT CARD OFF IN FULL ON TIME OR(EARLIER IF YOU CAN) EVERY MONTH OR BILLING CYCLE>> IF YOU DONT THAT WILL GET SENT TO THE CREDIT BURIALS AND TANK YOUR SCORE AND WILL BE THERE FOR 7 YEARS!!!!!!! 5. always pay off your credit card first, than pay your loan. I hope this helps(:
@thatgoose2639
@thatgoose2639 3 года назад
I don't understand how tiny hands makes $200,000 a year. Etsy shows your shop has 2092 sales since 2008. That's about $95 per sale since 2008. What am I missing?
@LL-ex1gp
@LL-ex1gp 3 года назад
She sells in other places and does wholesale. They wouldn’t show in Etsy unless someone placed an order through her Etsy shop.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Yes, like LL said above, Etsy is just a passive income stream for me. I have my own website at tinyhandsonline.com and I do a large wholesale business.
@thatgoose2639
@thatgoose2639 3 года назад
@@CreativeHiveCo I figured you would be selling somewhere else to make that sort of loot. The thing that disappoints me is that the etsy shop doesn't reflect the success of the business which would mean etsy, ultimately, is a bad place to do business.
@CreativeHiveCo
@CreativeHiveCo 3 года назад
For Etsy, I have things listed that are reproducible, so they can auto-renew when they sell. Beyond the listings, I don't put much extra effort into Etsy. I don't drive traffic over there and I don't pay for ads. So the traffic I get there is basically set-it-and-forget-it traffic.
@desirula
@desirula 3 года назад
I’m in the worst stage of my business, :( I make sales but I have too much debt, overdrafts... I cannot even afford your course it’s horrible..
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Desiree, that is so frustrating - I'm so sorry you are in that position! Is there a way you can cut down on any of your business costs so that the sales you get bring in more of a profit?
@desirula
@desirula 3 года назад
@@CreativeHiveCo I’ve tried, but that would lower the quality of my candles (yes I make candles) and I’m making barely 3 orders per week
@CreativeHiveCo
@CreativeHiveCo 3 года назад
Without seeing your site, it's hard to know which direction to point you. If you'd like to email me your shop link, feel free. mei@creativehiveco.com
@desirula
@desirula 3 года назад
@@CreativeHiveCo I emailed you last night... YOU ARE AWESOME! THANK YOU SO MUCH
@diamondsngunns88
@diamondsngunns88 2 года назад
@@CreativeHiveCo I’m in a similar situation. I’ve bootstrapped everything and am feeling overwhelmed at the slow growth. Can you help with some guidance/advice? Thank you 🙏🏽😭💜
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