[Jewelry making - Article 00173] - Re: [Orchid] [Biztalk] Success in business

[Daniel R. Spirer]

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    While I am happy for Gerry that he has achieved a successful
    business model for his own particular business, his methods will not
    necessarily work for the majority of list members who are jewelers
    and not gem cutters. While the idea of paring down your customer base
    to a few good people is nice, in retail it is critical that you build
    up your customer base as much as possible.  If you don't have a
    plethora of customers walking in all the time buying your work and
    telling their friends about how much they like your work you simply
    are not going to be successful. 

    You also need to take into account the differences in costs
    associated with running a retail operation with a storefront versus
    doing shows, or working out of a home workshop.  It is unclear
    whether the reduction in pricing Gerry is talking about is a
    reduction from his original wholesale pricing or his retail pricing. 
    It is entirely possible that the retail pricing was too high to begin
    with in the mediums he was using to sell his merchandise.  However
    since the problem that most newbies have in this business is
    undervaluing their work I, personally, would be extremely hesitant to
    recommend to anyone without a firm track history to lower their
    pricing. 

    Please also note that Gerry is now having a hard time keeping up
    with the work load.  This is often an indication that pricing has
    gone too low. I have always felt it is better to be able to sell a
    few less pieces at a higher markup so that there is still time left
    in the day to enjoy my family, look at the flowers for new
    inspirations and watch the occasional sunset. Daniel R. Spirer, GG
    Spirer Somes Jewelers 1794 Massachusetts Ave Cambridge, MA 02140
    617-491-6000 spirersomes AT earthlink.net www.spirersomes.com  

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