I’m preparing to retire to the shop soon and would like to make my hobby a quasi-business to suppliment retirement income. I came accross what appeared to be a credible character named Ed McDonough who has figured out the business side of woodworking and packaged his knowledge on CD.
Before I plunk down hard cash, can anyone tell me anything about this guys course and or reputation.
Thanks for your help!
CROC
Replies
http://www.selfgrowth.com/experts/ed_mcdonough.html
http://profitfromwood.com/
http://anintuitivelife.com/EdMcDonough.htm
Sounds like most of those infomercial shills to me.
Get Tauntons book on making money with your woodworking and contact you local Small Business Bureau.
Edited 5/8/2008 5:33 pm ET by RickL
I agree with RickL.
Infomercial sham.
BB
Croc --
Get a copy of Jim Tolpin's Working At Woodworking, from Taunton Press. It should have all the answers you're looking for. Mine is the original 1990 printing, but I'm sure it's been updated.
You might check your local library before ordering.
Kreuzie
Also-- try cottagehome.net -- they have several of his books.
Edited 5/8/2008 10:59 pm ET by kreuzie
Croc,
Don't know the man but...
The surest way to make money in woodworking is to sell things about "how to make money in woodworking" and the second best way is to sell the woodworker toys. Those that do woodworking make far less than all those that market to them, and work harder at it. Goes for just about any profession. Quasi or full time.
I agree with Kreuzie, get a copy of Jim Tolpin's "working". It does go into specific marketing areas unique to woodworking. I have it and it's pretty good but still, perhaps unfairly, it mimics just about every other "How to make money at..." Book. Go to any Barnes/Noble type place and look in the business section and you will find a plethora of books that say the same thing.
One common thing across all fields is that marketing, self-promotion and sales effort are vastly more important to success than whatever the talent is that is being marketed. Great work will not , by itself, get you volume of work. It's not the quality of what you make but how you sell it. One recent movie had the line, "it's how you tell the story".
Those that are well known in any field, including this one are not shrinking violets. The woodworkers that write for FWW didn't get there by accident. If you want to make a business of it, don't wait to be discovered. You won't be discovered just sitting there, no matter how great your stuff is. Word of mouth may bring in a job now and again but don't depend on word of mouth. Bad word of mouth can destroy a rep quickly, but reputation alone often doesn't pay off till your children have the business.
Even if you just want to make enough to pay for your toys, think marketing. Your church, local clubs, show your photos to local newspaper feature editors. Write and illustrate and article for them. Mailing lists with high income zips. Your former office compadres. Business cards at hardware stores, paint stores. Make a web-site. Work with decorators,designers and museum directors--people of influence, they are market makers. I personally think "networking" is a waste of time but that also may be an option. If your into cabinet work, contractors and architects. You can always turn away the work .
Market. It's surprisingly easy.
Imho
Your making the right start by looking at the "how do I do it".
Regards,
BB
Croc:
RickL summed it up and I'd like to add a couple thoughts. Develop a business plan, spend a lot of time on the marketing aspect and hire a good CPA. Your local Chamber of Commerce will have a tremendous range of resources as well and if you've got a good relationship with a banker share your ideas with him/her as they more often than not will provide input and assistance even if you're not looking to borrow money.
In the end your ability to market what you make will determine the level of your success.
Enjoy!
Madison
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