A Word (or Two) to the Wise

In business, when it's your name over the door, it doesn't mean you get to work half as much ... it means you get to work twice as much.

Choose your priorities wisely.

Most spend too much time on what is urgent and not enough time on what is important. – Stephen Covey
 
If you fail to plan, you plan to fail. 

Make a plan.  Execute the plan.  Be flexible enough to change the plan when necessary.

An ounce of application is worth a ton of abstraction. – Booker T. Washington   

If you work just for money, you’ll never make it, but if you love what you’re doing and you always put the customer first, success will be yours. – Ray Kroc

Starting a business is hard work.  Maintaining a business is hard work.  If you're lazy, you'll find out if bankruptcy is hard work.

If you don't have a target, you can be sure you'll never hit it.

Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy. – Norman Schwarzkopf

The golden rule for every business man is this: “Put yourself in your customer’s place. – Orison Swett Marden

Leadership is doing what is right when no one is watching. – George Van Valkenburg

Success in business requires training and discipline and hard work. 

Yesterday’s home runs don’t win today’s games. – Babe Ruth  

To think creatively, we must be able to look afresh at what we normally take for granted. – George Kneller

In all realms of life it takes courage to stretch your limits, express your power, and fulfill your potential. – Suze Orman

Look well to this day. Yesterday is but a dream and tomorrow is only a vision. But today well lived makes every yesterday a dream of happiness and every tomorrow a vision of hope. Look well therefore to this day. – Francis Gray

In business, I’ve discovered that my purpose is to do my best to my utmost ability every day. That’s my standard. I learned early in my life that I had high standards. – Donald Trump

Whether you think you can or whether you think you can’t, you’re right! – Henry Ford

To win without risk is to triumph without glory. – Pierre Corneille

Statistics suggest that when customers complain, business owners and managers ought to get excited about it. The complaining customer represents a huge opportunity for more business. – Zig Ziglar

Success is hard .. but failure is harder.      

Naming the Babies

When I first began my business, I realized early on that my designs were reproducible ...after all, I started because of a wedding.  I also figured out that I needed a way to identify each style so orders could be taken and multiples made.  Pretty easy ... each design needs a name.  But what names to use?  Lots of options were considered and I needed to make allowance that the number of design styles would expand and change over time.   With several groups of designs, there was a fair amount to consider.  I wanted a group of names that would communicate elegance and grace – a name like “Bubblegum Jellopops “ wasn’t going to cut it.

My main line of jewelry styles use crystals with either white or cream pearls.  I decided to use it to honor special women (and girls) in my life.   The names are in alphabetical order and almost every name in my “Fantasy Girls” group represents someone who I have loved or admired.  It was hard to come up with names for a couple of the letters so I looked through baby books to see what names meant and chose accordingly.  For the most part, the names from the early part of the alphabet are the small styles and they get progressively longer as we get further down the letters.  And as time has passed, and I’ve gone far beyond 26 styles of earrings, I’ve added second (and sometimes even third) names for the letters.  My business started by making earrings so I have lots of those designs ...but when I started making necklaces, I had a new problem with naming.  While I was in the process of figuring out what to do about those names, I happened to watch a classic movie with the main character being royalty.  It occurred to me that the royal titles seemed a natural next step in extending my Girls line.  Yes ... we have a few typical titles like Duchess or Contessa or Empress ...but we have (or will eventually have) some unique names.  Bantiarna is an Irish Baroness and Grevinna is a Swedish countess. 

"In The Mood" Earrings

My second largest jewelry line uses a variety of pearl colors with crystals to match.  Some designs can cross over from the Girls ... but some styles are unique to this line.  You may already know I’m a fan of movies from the 1930's and 40's, but I also love the music!  So this line is called “Big Band Baubles” and the designs are named for the titles of some great songs from that era!  I started with some of my very favorites from Glenn Miller then moved on to Cole Porter standards and songs done by Frank Sinatra.  “In the Mood” is one of my best sellers!

Right from the beginning, I’ve also made jewelry using Semi-precious stones.  A lot of people impart mystical qualities to various stones, but I’m not of that neighborhood ...so what to name them.  I did want these names to be very distinct from my other design names.  We had occasion to spend several weeks on a working vacation in Florida and I encountered a couple unusual (but very pretty sounding) names - like “Jacaranda” and “Lantana” (both flowers).   As a very northern girl, I found tropical words intriguing ...and the idea for naming the stones was born.  This line is a bit different because each stone family has it’s own name, and then each design has it’s own name.  “Bling” is the same style in every stone.  Many stone families are represented by names resembling their colors.  For instance, Snow Jade, a translucent white stone, is named “Lantana” which is a tropical white flower.  The Jacaranda tree bears blue flowers so was the perfect name for Blue Chalcedony.  Not all names are exceptionally tropical – Banana Fofana seemed like a fun name for Yellow Aragonite and Pirates Cove works well for Black Onyx. 

I have 2 other lines, both with fewer styles.  Bracelets are all named for classic movie actresses – Garland, Taylor, Hepburn, Monroe.  And I have a line of mixed colors based on seasons and holidays called “Seasons Dreams”.  “Autumn Dreams” is a beautiful fall blend of browns, gold, olive and Indian red.  “Summer Dreams” are beachy colors of capri, aqua, light smoked topaz (sandy colored) and white pearls.  In honor of St Patricks Day, “Irish Dreams” features crystals of emerald and erinite mixed with white pearls.  Each of the combinations of the Seasons Dreams line has a miniature called Sweet Dreams.  And I’ve made allowances to eventually offer earrings, bracelets and anklets using each of the Dreams combinations.

There are ideas tumbling around my head for a couple more combinations – new lines that I’ll develop someday.  And they already have names set aside for them.  I love what I’m doing now but my creativity is not limited to Swarovski crystals and pearls – so I actually have another Etsy shop so the name is “reserved” – something more fitting for an entirely different kind of style.  No plans to launch any new shop this year – Gentle Adornments is keeping me busy enough – that and the fixer-upper house we’re working on!  But maybe when the house is settled?.....

Business Planning part 2

A couple weeks ago (Jan 14), I confessed my laziness.  I’ve allowed certain circumstances to dictate my business decisions without even trying to think beyond those circumstances.   Well, all that is changing.

I seldom have problems with my creative side – I struggle with the more concrete aspects of the business side of what I do.  I found a website that’s been very helpful for me: 

http://www.productiveflourishing.com/

Check out the link "New Here?" for lots of nifty articles!

I can’t say there is a whole lot that’s really new – I’ve known all this stuff.  But since it’s the time of year for evaluating, the reminder has been excellent!  And the writer lays out his principles in such a logical manner, it has prompted all sorts of thoughts and ideas for HOW to approach, implement, and improve my business. 

I do like to plan.  Even if I don’t follow the plan exactly, the process of preparing a plan helps me to think through my priorities and what activities I need to implement.  Writing it down helps me to articulate my thoughts and it’s easier to act with focus and purpose.

Years ago, I read a book called “Confessions of an Organized Housewife” by Denise Schofield.  At the time, I was trying to de-clutter my house.  One of her premises was that if you have an overall plan, and you implement it, your thoughts no longer need to be consumed by worry whether something needs to be done – you have accounted for it – you can relax.  In the housework realm, if you decide you need to clean the bathroom mirror twice a week, and you make Tuesday and Friday your mirror cleaning days, once you do it on Tuesday, you don’t even have to think about it again until Friday – the task is complete and you are freed from the strain of indecision about when to do it again.  Another of her premises is that any project, no matter how large and looming, can be made manageable by breaking it down into small tasks (“you can eat an elephant one bite at a time”).  I'm working to translate these concepts to my business planning ...

More on making a plan in a couple weeks.

Procrastination ... or always put off til tomorrow...

Do you ever put things off until the last minute?  Or wait too long to tackle a project?  Then you struggle to complete it on time ... or you miss out on sleep or meals to make it happen?  I think we all do it once in a while ... some of us do it more.  Most high schoolers do it at some point...I’ll bet we’ve all had a paper we didn’t start until the night before it was due?

Admittedly, I was worse at it when I was younger.  There were tasks I didn’t like doing ... and I’d stall as long as possible to avoid them.  That’s a common cause for procrastination.  There’s always the hope that “if I ignore it, it will go away” ...and sometimes it actually does.  But I found that most of the time, I was just delaying the inevitable and until the task was finished, it weighed on me like a ball and chain.  I couldn’t enjoy my life and I was often preoccupied with the unfinished project.  As a fairly rational person, it just made sense to change my habit and get those unpleasant jobs out of the way.  In general I’ve been successful in my efforts and it really does make life less stressful.  I can relax and have fun when I’m supposed to have fun without the distraction of a project hanging over my head.

Sometimes a task can seem so small, it doesn’t really rise to the level of “important” ... but that can be deceptive.  If you suspect you have a mouse in your kitchen and you need to set a trap, it’s easy to overlook a task that minor.  But a mouse can do a LOT of damage (and leave disgusting evidence behind), especially to packaged foods and clean dishes ...so putting off that little task can cause big hassles (and real dollars) later.   There’s a reason for the old proverb “a stitch in time saves nine”.

But there is another type of procrastination – a person who says they’ll do something, but they consistently fail to do so.  I think they have good intentions and every desire to do the task but they habitually drop the ball.  The habitual part is the problem.  Frankly, after a while, I start to feel very disillusioned and disrespected...and I find that I start questioning their integrity.  Did they really mean it or did they just tell me they’d do it to get me off their back?  I can cut someone a lot of slack for an occasional disappointment – everyone has stuff happen now and then.  But when someone can NEVER follow through ... well, there's a problem. 

This kind of problem can have an adverse effect for someone in business.  I know a small business owner who is easily distracted.  So when an employee says that materials need to be ordered, the boss always says, “Yes .. I’m on it” ... but it turns out to be days before the parts are ordered.  By then, it’s become urgent ...and stressful.  Production suffers, employees are frustrated, and profits aren’t nearly what they could be.  When production slows down and customers have to wait for their orders, the company’s reputation suffers too.  When a person constantly lives doing only the urgent, my husband calls it “fighting fires” ... and he doesn’t like doing that.  For 13 years, he was a project manager and had to anticipate material and worker needs ...and fighting fires was nothing but trouble.  A little "fire prevention" goes a long way.

So if you’re a procrastinator,  how do you find balance?  How do you get things done in a timely manner?  Part of it is nothing more than good old-fashioned self-discipline – being determined to get done as quickly as possible.  For some, it may help to make a prioritized task list – deciding what is most important and doing it first.  Remove unnecessary distractions.  It may be learning to say “no” – and not taking on more than you can do.  My husband has a terrible time with that one – he can’t help but help people.  I love him for his tender heart ... but every once in a while, he needs a little nudge to say “no”.   You may also have to learn to say “no” to something fun – it can be a bummer at the time – but you can reap some real rewards later in energy, restful sleep,  lack of frustration and peace of mind .... and even profits!  Maybe the most important thing you can do (and I rarely see it done by people who procrastinate) is anticipate what the consequences will be if something is left undone.  If a task is put off, how will it impact your life, your family, your time, your mood, your business, your employees, your bottom line?

So are you a fire fighter?  Or are you on top of your to do list?  Tell me ... how do YOU overcome procrastination?

Silver Gone Crazy!

Nope.  I don't get to write a great blog about terrific new designs -- this one is about the price of silver and what it may mean for my business.  Like many other jewelry designers, I'm feeling the pinch. 

Winter is my "slow time" -- I'm not doing craft shows and because I don't need to replace my supply as quickly, I haven't been buying silver lately.  I bought some silver at the end of January to do a couple weddings and now that I'm preparing for my first craft show (in May), I'm checking my stock and browsing at my favorite sterling supplier.  Needless to say, I was SHOCKED to see how the price had risen!!  When I last purchased silver, the price per ounce was hovering around $27.  Today it's over $45.  This is going to necessitate some price increases -- I wonder if my customers are going to understand?

I have an excel spread sheet that I've devised to track the costs of making each jewelry design I offer.   There is a list of the supplies I use and in the next column the individual cost of each item.  Because most of my designs use multiples of some supplies, I also have columns that multiply the individual cost by certain quantities -- x2, x4, x6, x8 and so on with a few larger quantities to allow for making necklaces which use larger amounts of some components.  (This may seem a bit complicated, but when I was setting it up, I couldn't figure out how to multiply a single component within the formulas I was going to use.)  In this sheet, there is also a list of the designs I make and in the column next to that, each design has a "cost formula" -- a list of the components needed using the cost of each.  For instance, if a pair of earrings uses a 6mm pearl, I'll need 2 (1 for each earring) -- in the formula, I list the box number (column letter and line number) for the cost of 2 pearls.  Each component is listed using the cost for the quantity used and all the component costs are added using the "sum" function to give me the actual cost of making each individual design.   I hope this is making sense -- it sounds a lot more complicated than it is.  This system becomes very effective when I need to change the price of a component.  Today, when I changed the cost of a sterling silver headpin, the cost of every piece of jewelry using headpins was appropriately adjusted.  I can now determine what price I should charge for each design, with the full knowledge of exactly how much the design will cost me to make. 

Unfortunately, today, I had to change a lot of silver prices.  From here, there are different thoughts on how and when to change the prices of my jewelry -- and maybe I can get some feedback from you. 

1.  Even though I haven't purchased silver at the higher price, I should raise prices now to accommodate the new costs.  While on the surface, this may not seem quite fair, it should be noted that I like to keep my prices the same throughout the entire craft show season -- if I raise prices now, I probably won't raise them again this year.  Because I suspect that silver prices are going to continue to increase (the prices are tied to the value of the dollar and as long our government continues it's current course of printing more money and huge spending, the dollar is going to continue to decline), later I will be absorbing additional increases without raising my prices. 

2.  I can raise prices as I purchase new silver.  The upside is that customers buying from my old supply would be paying my old prices.  The downside is that it will also cost me time and money to re-label every time I use more expensive silver.  My craft shows all fall into a certain geographical area so it's entirely possible for a customer to see me at more than one show -- if prices rise between shows on an item they were considering, will they really understand?  Or will it deter them from making the purchase?  

Anyone have any thoughts?  

I've been reading some forums .. it sounds like a lot of jewelry makers are going to increase their use of copper.  I haven't decided how I feel about making such a change for myself ... and maybe we'll explore that on another day.  I also have some concerns about even doing craft shows this summer -- we'll save those thoughts for another day too.

Re-Evaluating ... Again

Well, it's that time of year.  Lots of people take stock of their lives ... many make New Year's Resolutions or start diets or just promise themselves to "do better".  

I've been taking a look at my business -- my business practices,  marketing, product line and the various aspects of doing what I do.  I haven't finished this examination, but I've decided to make some changes.

A year ago, I did a lot of research into marketing.  It's probably one of my weak points and something I knew little about.  I purchased several books from successful Etsy sellers with information on how to be successful selling on Etsy.  Some of the suggestions they made were pretty elementary and common to all sellers.  However, each seller had a unique thought or two -- something to consider.  
  
I carefully mapped out a strategy making both major and minor changes.  I changed my business name, purchased professional graphics and  took hundreds of new photos (which I'm still editing to make them right for listings).  I launched this new business with high hopes.  Unfortunately, the sales did not materialize.  My online sales account for only about 4% of my business.



So now what?


Time to evaluate.  What have I done right?  What have I done wrong?  What may need just a little tweaking?


A year ago, I examined my pricing structure and opted to include shipping in my product pricing.  I had hoped that the lure of "free shipping" would be irresistable to buyers.  Hasn't worked out that way.  So today, I've made the first business change for the new year -- I've gone back to adding shipping.  I was going to need to increase prices somewhere -- the price of silver is up and I've had to find a new source for one of my frequently used items, which also means a bit of an increase.  So, rather than increase the prices of my products, I've added the shipping again.  I'm actually kind of disappointed, but i think it will probably work out ok.

Undoubtedly, there will be more changes coming ... but for now, one cautious step at a time.  And I'll keep reading and studying, listening to the advice of those who are making it work and analyzing if their practices will work for me too.  Keeping fingers crossed....!!!

Wanna Ride?

My husband is such a sweetie! And he's very encouraging about my jewelry business, especially about taking it in the direction of marketing to brides. Doing craft shows has been good but we get a lot of feedback from people indicating that my style is really perfect for weddings. Keith has researched a bit and found a number of Bridal Shows coming up in our area and figures we should attend a couple of them to see how they're run, what kinds of setups vendors are using, what kind of traffic there is, etc.

I've already done a bit of research myself to find out booth sizes and fees -- needed to start somewhere. Found that "bigger" shows are pricey .. at least, compared to what I've been paying for craft shows. Most of my craft shows fall between $50-100 for a booth of 10x10 to 12x12. The bridal shows I've found run closer to $800 for an 8x10 or 10x10 space. I'll be continuing to look! And I'm developing a checklist of things I think need to be done before I dive headlong into doing Bridal Shows:
1- continue show research to find out which shows are the best attended, as well as requirements, space available, booth fees, contacts, set up and take down arrangements
2- focus new product development on bride's accessory needs (bracelets, hair and veil accessories)
3- develop a catalog/brochure
4- develop a procedure for taking orders, including a policy for quantity discounts, special requests, and financial arrangements (deposits, cancellations, returns, payment terms)
5- develop displays, pricing and policies for consignment sales through bridal shops (shows will put me in contact with bridal shops as well as with brides and there may be consignment opportunities)
6- packaging -- right now, it's simple tags and bags -- may need to spruce that up
7- upgrade my booth display
There's a lot involved with this ... we'll save it for the next post.
With Thanksgiving and Christmas holiday coming up, I'm not sure how far I'll get with my list but this should be an interesting journey! From time to time, I may need to ask for input too. Wanna ride?

So .. Why the Changes? Part 5

Business has been rolling along ok ... not fabulous but ok. I started doing some research on marketing (because I was a serious rookie about this stuff) and I began paying close attention to what people were telling me at craft shows. I came to the realization that my business name, B-Jeweled By Susan, might not have been the best choice.

When I first named my business, I was only thinking of doing craft shows and my contact with customers would be live. “B-Jeweled By Susan” was fine in print (on business cards and flyers) and substituting the “e” with a hyphen looked kinda clever.

But then I got an email address. And I was introduced to Etsy. Neither wanted to take my hyphen or my spaces ... so my online name became “bjeweledbysusan”. It’s not a bad name .... but no one can find it. When you’re in business, that sorta defeats the purpose! Even my friends say they have a hard time remembering the unusual spelling so they got frustrated trying to get through on my email or find me at Etsy. If my friends are having this problem, nobody else is finding me either!

And there was another problem -- to those who haven’t seen my name in print, it looks like I don’t know how to spell .... because the “bjeweled” without the “e” really doesn’t make much sense without the hyphen (b-jeweled).

And, to be honest, when I first started at Etsy, I made some mistakes. Nothing glaring or terrible. Just didn’t get off to a great start. I'm thinking that a fresh start might be a good thing.

So, before I get too much more invested in my name and image and marketing, I want to change my business name. That has turned out to be a bigger project than I expected ... but it’s all working out. On Etsy, that means opening a new shop and it involved quite a bit of research. And choosing the new name? Well ...... more later.......

Nurturing the Baby - Part 2

I grew up on a farm, and I’ve always had a garden – so I have long understood the concepts of nurturing and patience. (They also came in handy as we raised our kids!) Once the seed was planted to start a jewelry business, things began to happen. I began to develop designs and started looking for supplies. I told the ladies at church about my interest and a couple of them started watching for ads for craft shows. I was a total rookie about this stuff – and somewhat like the gardener needs a little rain at just the right time, I was learning a little here and a little there – just when I needed to learn it.

I have to tell ya ... those first craft shows were a little rough. I only had about 7 styles of earrings. My “display” was a foam board covered with white lace, propped up with plate easels. Earrings were on homemade cards and the cards were tacked to the board with clear push pins. In each show, I had a board full of sterling earrings and a board of silver plated. As I look back now, it was NOT pretty. But it got me through my first few shows and in spite of the terrible presentation, people liked my work – and I made a little money.

Our youngest daughter went to work for a small Midwest chain of jewelry stores. Unfortunately, the stores failed and she was out of work. But when her store was closing, she was able to get some of the displays for me (for free!). So I graduated to spinners for my earrings, put my earrings on real earring cards and I had a couple busts to display a necklace or two. I felt like I was in the big time! As I made the transition to the new displays, I also decided to go exclusively with sterling silver and eliminate the cheap plated stuff – it was a good move. By this time, I was also up to 18 or 20 earrings designs. My craft shows were stepping up and business was improving.

At one of the craft shows, I met another vendor who was VERY sweet! She had a nice business card and had a web store on a site called “Etsy”. I’d never heard of it, but as she explained it, I found myself intrigued. Etsy is an online marketplace for artists and crafters to set up shops – kind of a web based craft show. This gal, who was selling children’s items, was enjoying quite a bit of success. I signed up! But there was a lot I didn’t understand about doing business online .... and I made quite a few mistakes. More to learn. (Sigh)

As I look back at taking those first baby steps, I’m amazed the baby learned to walk!! And like any baby, once they learn to walk, the next thing you know, they’re running! More later...

Crafty Conception - Part 1

I’ve always been crafty – able to work with my hands, take some basic materials and make something pretty out of them. And I’ve used that ability in many settings, but particularly in making a home. Those years when “country style” was popular – well, they were MADE for me! And I’m one of those people who can pretty much just look at something and figure out how it’s made. The one exception was making baskets – I took a class to learn how to make them because, while I knew weaving, I didn’t know much about using reed or finishing a basket. If it involves fabric, I can usually figure it out in minutes and I think I have a natural eye for balance and color – I know that I have memory for color (which has come in handy on more than one occasion!).

A few years ago, I bought a new outfit that was very pretty, but the color was a complete deviation from the rest of my wardrobe. Now, I don’t really wear a lot of jewelry but this outfit was dressy and I knew I would want earrings to go with it (at least). I browsed several costume jewelry shops but found nothing that stood out. I went to visit my daughter, who had recently been to a jewelry making party/class – she showed me a couple basic techniques – and we were off to the craft store! I picked up a couple basic tools and a few jewelry supplies and we headed back to her house where I made my first necklace. I knew about “lead crystal” but I hadn’t heard of Swarovski – but I’d found some Swarovski crystals that looked like they might go with my outfit. They were the Padparadscha color and I mixed them with white pearls – it was a stunning match! And I was hooked!

Because of the travel involved in our ministry (and for a long list of other reasons) I homeschooled our 2 youngest children – over 15 years. For those who are unfamiliar with homeschooling, I can only say that it is a huge commitment of time for the teaching parent. When our youngest daughter graduated from high school, I felt a little at loose ends. I suddenly found myself with a lot of time on my hands. Because we are missionaries, and have never been fully supported, I began looking at a job to help financially. But because we also move so often, my options were very limited – employers don’t usually like to hire someone who is moving in a few months. And I didn’t want a job that would interfere with our ministry and the commitments I have there (these are my first priority). I’ve done home-based businesses and considered them, but they are most successful when you develop repeat customers and some require maintaining stock – neither of which suited our circumstances. I needed to do something with flexibility and mobility but requiring only a small space.

I’d gotten a lot of positive comments from the ladies at church about my jewelry – and they seemed impressed that I could make my own. Then a friend, who’s daughter was getting married, was complaining about how difficult it had been to find nice jewelry that was reasonably priced. Timing is everything! I began to consider a jewelry business – and B-Jeweled By Susan was born! More later....