If you are enthusiastic about making jewelry, you have probably had women stop you in the street and ask to purchase your creations, or had a friend ask you to make a gift for someone special. At some point, the question “Should I start a jewelry business?” is unavoidable. There are many wonderful aspects of owning a jewelry business including creativity, making women look and feel gorgeous, time flexibility and the ability to work at home, which is especially appealing to Moms.
Starting a Jewelry Business is tempting but before you decide to make the leap, ask yourself a few crucial questions:
- Am I ready to spend many hours a week working ON my business
- What in my already busy schedule am I willing to give up to free up this time?
- What is my real goal? Generating income or funding my hobby?
It is crucial to be clear about your Goal! If you just want to fund your hobby, you will only have to spend about 20% of your time on administrative tasks leaving 80% for jewelry design and creation. If you are serious about generating income you will spend up to 90% of your time working on BUSINESS issues rather than making jewelry. Are you Cool with that?
The Joys of starting Small: I really believe in this model!
-No Huge investment necessary
-Gives you a chance to see if being an entrepreneur suits you.
-You can learn from your mistakes without dire consequences.
-You have time to get to know your customer profile. Do my actual customers match the profile of my target market?
-You can fund your own growth from profits.
-You can grow at your own pace because you don’t have bank payments or investors breathing down your back.