[Jewelry making - Article 00463] - Re: [Orchid] The first step to starting a jewelry business

[Devora Evgi]

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Hi Tania,

    Perhaps some of my experience and insights can help you. Though I am
    working at a craft I love, business to me is entirely professional.
    I do not let stress get to me or else I could spiral downwards with
    no help of salvation. 

    Going into business is indeed very different than working for
    others. To the naked eye, it may seem that you are finally freed
    from grueling taskmasters and that you can set your own schedule.
    Actually, though this is in part true, it does not mention the fact
    that you will be actually working more hours because you need to
    usually wear additional hats, which may include, marketing person,
    salesperson, accountant, logistics, shipping, etc. (You can also
    hire somebody else to perform these jobs.) The biggest benefit is
    that you are your own Mistress and don't have any glass ceiling. You
    can even work at three in the morning. :-))) But make no mistake; a
    business is in business to make money. And that's why you need to
    ensure your future by drawing up a business plan and researching
    your target markets very well, even before you open your business.
    What do you make? Who will buy them? How will you sell? How will you
    reach your market? 

    You can also just take the plunge and make itemsthen search for
    market venues. This is not recommended by me. Better to draw up a
    plan that lists your business goals, timelines and schedules,
    company growth, marketing and sales targets, and last but not
    leastfinancial issues such as expenses (loans, taxes, raw materials,
    packaging, rent, etc.) versus profit. This will give you a great
    picture of your Game Plan. You can see whether your business has a
    chance to survive. Without a clear picture of where you are going,
    it will be harder to maintain your business. You should think
    positive rather than "I hate my old job so I will open a business". 

    If you go into business, always make sure you have enough cash
    stashed away for the cash flow aspect of your business. Many new
    businesses end before they begin because there is not money to fund
    those critical first months. 

    Last word of advice: aim for the blue sea. In business, you have a
    red sea and a blue sea to choose from. The red sea is full of
    swimmers and is so packed, you can't even swim1 It is red from all
    that back-stabbing... On the other hand, the blue sea is not too
    crowded and contains relaxed swimmers. For example, say you want to
    open a fitness club. That puts you smack in the middle of the red
    sea! But say you want to open one for women alone, who just want to
    work out even if they don't look all that great in their workout
    clothes (yet). That's the blue sea! It's the same with jewelry. There
    are trays of MacJewelry everywhere! I sometimes get seasick... 

    Many people transition smoothly to their business by working at
    their job while starting a part-time business. This is what I am
    doing. It allows me to pay the bills while growing a customer bank.
    I am paving the way to make my jump soon without rushing anything. 

    Tania, I most sincerely wish you all the best and much success. I
    hope I have been able to help! Feel free to contact me off list. 

Keep shining,
D
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