[Jewelry making - Article 00043] - Re: [Orchid] Costs of materials

[Gerry]

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All,

    Over many years I have fought the battle of cost of inventory versus
    turn over. To this day I do not have a definative answer.  Daniel
    Spier's business operation did not occur overnight. From what I have
    gathered from his postings he started small and struggled very hard
    to get a clientelle and store front where he can make a decent
    living.  Even though I often disagree with his business practices I
    do not for one instance wish to belittle his success nor do I think
    his practices are in any way illegal. It is a plus for all of us that
    he shares his experience on this open forum. The same goes for all
    whom share thier experience. 

    My experience says that you must take chances to be successful in
    business.  That means risking more of your own money to have the
    chance to be successful.  In the past year I have changed my business
    quite radically. First of all I am now concentrating more on retail. 
    Secondly I am moving into finished products.  Thirdly I am showing at
    different venues.  To make this happen I have invested money buying
    finished jewelry from other artists, had other artists make jewelry
    for which I have paid them, and am making jewelry myself.  I took all
    the profit from this years Tucson Show and put it directly into this
    change.  That is about 35% of my total profit for the year.  We have
    only had two shows since this change and both were quite successful. 
    I sell designer gold, commercial gold, commercial silver, designer
    silver, and artist jewelry as well as my loose gemstones. I am also
    picking up orders to mount my stones and make slightly different
    jewelry.. 

    Take a chance.  Even if it is only one piece of jewelry at a time. 
    Try it and see. 

    Gerry Galarneau, in absolutely beautiful Arizona,  sunny, breezy,
    and 70's.  Everything is blooming and I have too much work waiting to
    be done. 


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