Starting Your Own Handmade Jewelry Business?

Avoid these 12 Mistakes  (Part 1)

A lot of jewelry designers have been known to start their business on a whim with no planning what so ever. This is pretty typical because most jewelry designers give preference only to the art of designing and creating jewelry. But if you’ve decided that you want to be able to earn from your art then you need to give the business side of things a little notice too.

New jewelry designers may make some very common mistakes when they start their business. Here are a few of them so that you know what not to do.

1.      Using Your Personal Bank Account and Credit Card for Business PurposesCredit Card

A lot of professionals do this, not just emerging jewelry designers. People just don’t bother to make a separate account for their business because they consider it too much of a hassle. This is a very bad strategy to adapt because it will ultimately lead to financial confusion. You need to keep the cash flow and the expenses of the business completely separate. Initially, using the same account will seem simpler but it will turn out to be a nightmare to explain if you were ever audited.

2.      Not Focusing on a Specific Target Market

Buyers can have eccentric tastes but jewelry designers can’t afford to think that their jewelry will be liked by every one. Most designers lose their vision thinking that their pieces will speak to different people in different ways, which may be a very ineffective business strategy to adapt. If you want to brand your business, then you have to focus on a specific target market.

3.      Not Designing a Practical Collection

There is only so much you can push design boundaries. Jumbling a bunch of pieces together might allow you to explore your inner artistic vision, but it may not have the expected impact on the business front. You need to design a collection that is cohesive, marketable and most importantly, saleable.

4.      Setting the Price Way Too High

Just because you have designed and created the jewelry pieces, doesn’t mean you can set any price you see fit. You need to factor in the price of the raw material, its demand in the market, the competitors’ price, and the efforts you have invested, before setting the right price.

5.      Not Focusing on Photography

You might get away with photographing the jewelry yourself, but in most cases, people usually don’t. You need to hire a professional photographer for this job or at the very least someone who is well versed in the art of photography. The sale of your jewelry completely depends on how good the pieces look in the pictures. A photographer will be able to help you with that.

6.      Don’t Start off on the Wrong Foot

You need to think long term. You need to build a relationship with the clients because this will make them choose your designs again and again. Avoid being too salesy or upfront when dealing with clients.

Stick around for Part 2 of this blog to know what other mistakes you should avoid when starting your own handmade jewelry business. Till then, you can browse through the rest of the website for amazing tips on how to start a successful handmade jewelry business, setting up a jewelry workshop, jewelry making and much more.