458 | How to Build Multiple Revenue Streams in a Product Business with Melissa Hyatt

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

Map out your next 90 days!
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your product brand right now?
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Takes about 2 minutes

MEET MELISSA

Melissa Hyatt is an artist and surface pattern designer based in Connecticut. After studying surface pattern design at Syracuse University, she spent more than two decades designing textiles, wallpaper, and licensed products in New York, including five years as design director at Waverly Fabrics. Today she sells coastal-inspired stationery, original watercolor art, and watercolor kits, and teaches watercolor workshops.

CONNECT WITH MELISSA

WEBSITE: www.melissahyatt.com | INSTAGRAM: @melissajanehyatt


Connect with Katie Hunt

Katie Hunt is a business strategist, podcaster, mentor and mama to four. She helps product based businesses build profitable, sustainable companies through her conferences, courses and coaching programs.

Website: prooftoproduct.com  |   Instagram: @prooftoproduct

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