I've had my own ecommerce craft shop, not on Etsy. If you don't have a lot of different types of items but have multiple colors and styles, have ALL of them up. A lack of a big inventory doesn't need to look like you have bare shelves.
I started my Etsy shop in August 2016 and was a complete newb. By the end of 2017, I had made multiple six figures. My best advice is to do the following:
1. Product photography is one of the most important things you can invest in. Good photos get sales. Mediocre photos get ignored.
2. Learn Etsy SEO. There are a number of resources online that can teach you about this, and invest in Marmalead's keyword software.
3. Encourage customers to write you reviews. It will help your rankings & establish trust.
4. Take advantage of Etsy's holiday sales (i.e., Etsy promoted stores that were offering discounts during the holidays)
5. Establish other revenue streams. Expand beyond Etsy. Set up an eCommerce website and also sign up for Amazon Handmade. (P.S. We make much more on Amazon Handmade as compared to Etsy)
6. Pitch your product to be included in subscription boxes. This is a unique and cost-effective way to get in front of new customers.
I have so many other tips and suggestions but these are the most important/actionable for now. Feel free to give me a follow up call if you want more details on any of this. Thanks!