458 | How to Build Multiple Revenue Streams in a Product Business with Melissa Hyatt with Melissa Hyatt
Proof to ProductShow Notes
What happens when one client makes up 85% of your income, and then that client cancels the contract? For Melissa Hyatt, that moment became the reason she built a business with several ways to earn. Melissa shares her path from design director at Waverly Fabrics to running her own stationery and watercolor brand, and how a sketch on a piece of copy paper turned into a line of watercolor kits that has sold more than 1,000 units. In this episode, you'll learn: Why Melissa decided never to rely on one client again, and the five revenue streams she built instead: wholesale, teaching, licensing, art commissions, and direct-to-consumer How her first wholesale account came from a former Waverly colleague's referral, and why the network you already have matters Why she limits commissions and in-person classes to avoid burnout, and how that burnout led her to turn her teaching into a product How adding a higher-priced product raised her average order value, brought in new types of stores, and led to in-store teaching opportunities The inventory lesson from her first big trade show orders: she under-ordered brushes, shipped a few weeks late, and not one retailer canceled
Today's episode is brought to you by our Is Wholesale Right for You workshop. Wholesale is not the only way to make money selling your products. Selling in bulk to retail stores that order multiple times a year instead of relying on one-off direct-to-consumer sales— yes please! Whether you are brand new to wholesale or you've hit a sales plateau, this free 25-minute on-demand workshop will give you actionable steps that you can take to strengthen your wholesale sales and marketing right away. SIGN UP You can view full show notes and more at http://prooftoproduct.com/458 Quick Links: Free Resources Library Free Email Marketing for Product Makers PTP LABS Paper Camp Mentioned in this episode: Take the free quiz! Map out your next 90 days here: http://prooftoproduct.com/quiz
More from Proof to Product
One pattern I've noticed time and time again after working with thousands of product brands across lots of different categories, is that while our products might be different or our tools and platforms might change, all of our core business foundations and fundamentals are not changing. And that's exactly why I wanted to share this short clip from the archive, something that I think is worth revisiting because the takeaways still hold true today. Maybe listening will spark an idea or help you take action on a decision that you've been sitting on. Really, the goal here is to help you take your next intentional step in business. That's what I want for you. Enjoy this clip! You can listen to the full episode with Reese Spykerman of Design By Reese here: http://prooftoproduct.com/224 Quick Links: Free Wholesale Audio Series Free Resources Library Free Email Marketing for Product Makers PTP LABS Paper Camp Mentioned in this episode: Take the free quiz! Map out your next 90 days here: http://prooftoproduct.com/quiz
"How did you get your products into so many stores?" Melissa Gullatte hears this question often. Her business, Gracefully Made Art, started with original paintings and wedding invitations. After her first daughter was born, she pivoted to officially licensed collegiate and sorority gifts. She took Paper Camp in spring 2023, thinking wholesale would be a nice side channel. Three years later, wholesale is two-thirds of her revenue and she's in more than 1,000 stores. In this episode, you'll learn: How collegiate and sorority licensing works: applying school by school, getting each product category and every piece of artwork approved, and planning six months to a year ahead of launch How Melissa landed Ole Miss after two years of rejections Why sorority licensing opened up a national market when collegiate products sell regionally How she prices for wholesale first, with royalties of 12 to 20 percent built in, then sets her retail price from there What tactics got her into 1,000+ stores How she keeps retailers reordering, and why fewer SKUs helped her business grow
I know you have a lot on your plate right now. You've got products to make, orders to ship, and about a hundred decisions that you're making every day. I do not take it lightly that you are spending time with me today and I want to thank you for being here. Today's episode is a short, focused, throwback episode designed to give you one thing that you can do today to move your business forward. No fluff, no filler, just ideas that we've shared in the past that will benefit you today. Let's dive in! You can listen to the full episode with Mei Pak of Creative Hive Co here: http://prooftoproduct.com/265 Quick Links: Free Wholesale Audio Series Free Resources Library Free Email Marketing for Product Makers PTP LABS Paper Camp Mentioned in this episode: Take the free quiz! Map out your next 90 days here: http://prooftoproduct.com/quiz
How do you decide what to make next, what to cut, and where to put your limited time and money? For Elizabeth Rees, founder of Chasing Paper, the answer has come from her customers for nearly 13 years. She shares how customer feedback shaped her product format, her materials, her wholesale approach, and her newest line, and why she checks every instinct against the data before acting on it. In this episode, you'll learn: Why Chasing Paper sold wallpaper in panels instead of rolls from the start, so a customer with a small project could spend $60 instead of $250 and buy in at any budget How launching with two materials, Standard and Luxe, worked like an accidental A/B test, and why Elizabeth discontinued the lower-priced option about nine months in instead of continuing to explain the difference How Chasing Paper treats wholesale as a customer acquisition channel, drop-shipping for retail partners and using those placements to build brand trust Why the trade program, where repeat rate, average order value, and lifetime value run three to four times higher than direct-to-consumer, became the reason to launch fabric Why deepening relationships with the customers you already have can matter more than constantly finding new ones, and why a small team has to be selective about new channels How Elizabeth pairs instinct with data, and why one source of truth for attribution keeps her team from cherry-picking numbers to support a hunch
I know you have a lot on your plate right now. You've got products to make, orders to ship, and about a hundred decisions that you're making every day. I do not take it lightly that you are spending time with me today and I want to thank you for being here. Today's episode is a short, focused, throwback episode designed to give you one thing that you can do today to move your business forward. No fluff, no filler, just ideas that we've shared in the past that will benefit you today. Let's dive in! You can listen to the full episode here: http://prooftoproduct.com/419 Quick Links: Free Wholesale Audio Series Free Resources Library Free Email Marketing for Product Makers PTP LABS Paper Camp Mentioned in this episode: Take the free quiz! Map out your next 90 days here: http://prooftoproduct.com/quiz