When Danny Buck co-founded CRAFTD London, a men’s jewelry line, in 2018, he brought lessons learned from past ventures to shape CRAFTD’s approach to growth. “There’s no shame in being small and profitable,” Danny says. “Ignore the ego side of it and don’t compare. I think comparison is the thief of joy, as they say.”
A previous foray into entrepreneurship with a watch brand called Circular generated significant revenue, but ultimately lost £300,000 ($380,000). That experience taught Danny to not be caught up in his ego. With CRAFTD, Danny and his co-founder Alex Cannon focus on slow, sustainable, and profitable growth, selling men’s jewelry such as chains, bracelets, and rings through their Shopify store.
Ahead are the steps Danny took when building CRAFTD to ensure it would continue to grow and expand while staying independent.
1. Understand your market before you start
Danny advises new entrepreneurs to resist the urge to scale or plan too far ahead before researching and surveying the market. “I would recommend starting as slow as you possibly can, understanding the market and the headaches that come with it,” Danny says.
Before launching CRAFTD, Danny and Alex researched the history of men’s jewelry, quality issues, shipping fees, and workarounds. This allowed them to avoid unnecessary stressors that came with operating the line.
As a result, they grew CRAFTD slowly, doubling its annual sales for three years, reaching more than £30 million ($38 million) in total sales. They achieved this by starting with only one product and gradually expanding their product line based on customer demand.
2. Invest in product development over marketing
While marketing played a crucial role in CRAFTD’s early days, Danny says their focus has since shifted: “It’s the most boring answer ever, but [our investments are into product]. We’ve kind of reached the point now where we don’t consider ourselves a marketing company anymore. We consider ourselves a product [company].”
Instead of investing heavily in in-house content and running as a brand and marketing agency, CRAFTD chose to invest in higher quality products and operations. This meant expanding product lines, offering more sizes, and investing in inventory and warehousing capabilities. For example, it increased its ring offerings and expanded sizing options. It also invested in an expensive warehouse to accommodate their growing inventory.
Your creative marketing content is important, but shouldn’t take priority over your products themselves. “It doesn’t necessarily move the needle, a piece of creative, so [growth comes] through product development, which some people will argue that’s where you should start,” Danny says.
3. Build a flexible, remote-first team
CRAFTD operates with a team of 15 people, despite its high gross revenue. This efficiency is partly due to a remote-first approach implemented after the pandemic lockdowns. “We have no set working hours,” Danny explains. “As long as the work gets done, the results get achieved, it doesn’t bother me.”
The team uses Basecamp for communication and project management, allowing them to collaborate across different time zones in places like Latvia and Australia. This flexibility allows CRAFTD to maintain a lean, efficient operation. Part of a sustainable growth strategy includes maintaining the lowest possible operational costs for the company and its team.
4. Balance brand building with direct response marketing
CRAFTD’s approach to marketing has evolved over time. In 2022, the brand invested heavily in brand-building activities, including influencer marketing, podcast sponsorships, and celebrity partnerships. While these efforts increased brand visibility, they didn’t translate to sales.
In response, the company shifted its strategy the following year. It redirected its marketing budget toward more direct response channels. “We took all that money [from the year before] and we put it into advertising on Facebook, Google, a bit of Snapchat, and that brought more profitable growth in 2023.” Danny’s experience underscores the importance of continually evaluating and adjusting marketing strategies.
Danny’s emphasis on profitability over rapid expansion, investment in product development, and creation of a flexible team structure all contribute to CRAFTD’s continued success. For aspiring entrepreneurs, the key takeaway is clear—prioritize building a resilient, profitable business rather than chasing vanity metrics or unsustainable growth. Remember Danny’s advice: “There’s no shame in being small and profitable.”
Tune in to the full interview on the Shopify Masters podcast to hear some of the lessons Danny has experienced, and how you can build a business that not only survives but thrives in the competitive world of ecommerce.
