The Five Things that Can Doom Your Handmade Jewelry Business Fast!

After observing so many people attempting to enter the handmade jewelry business and watching their successes and failures, I think I've come up with the five primary reasons why a jewelry business fails. I think if we can address these issues, we'll achieve a much greater degree of success in our businesses. Here they are:

Lack of Focus

I know we've discussed this before and you're probably tired of hearing it but I see this mistake made so often. You must have a focused jewelry collection with a signature style in order to successfully establish a brand with the consumer.

When you go shopping for clothing by Ralph Lauren, you expect to see an all American, classic, almost preppy look to his pieces. How would you react if he decided to come out with a line of frilly, fussy pieces with loud prints? You might feel a confused and even a bit betrayed. Wouldn't your customers potentially have the same reaction? Confusion in the mind of a consumer definitely doesn't help to boost sales.

Spend some time studying some of the more successful handmade jewelry lines on the market and see if you can define their focus or their signature look. Chances are that most of the successful ones have one. What's yours?

Caveat: This doesn't mean you can't introduce some newness into your jewelry line. In fact, it's important that you do. (see the next entry). Just make sure you do it gradually and that it's still consistent with your theme.

Lack of Originality

You can't make what everyone else makes and expect to be successful in the jewelry design business. If you do, you end up competing on the basis of price which is a sure recipe for failure. Consumers are always seeking out what's new and different in the marketplace. If you have the "same old, same old", they're going to walk right by your jewelry booth.

Inability or Unwillingness to Market

You can make the most beautiful jewelry in the world, But, if you don't know how to market it, it's never going to leave your possession. It's important to define who your market is and how you're going to reach them. Start with one marketing idea and test it thoroughly. Do it consistently for a period of time and monitor the results.

Remember, consumers need to see an ad at least 3 times before they take action. Don't be afraid to try new and unconventional marketing techniques. Try them methodically and test as you go. Lastly, use your time wisely by marketing your handmade jewelry at every opportunity i.e. leave a business card with your payment at a restaurant, wear your jewelry etc.

Lack of Belief in Yourself

This is an important one that we've spent very little time discussing. If you don't believe in yourself and project that belief, neither will anyone else. It takes time to establish a market for your handmade jewelry designs. You have to persevere, try new marketing techniques, and believe that you will ultimately achieve success.

One of the very best books I've read for motivation and overcoming self limiting beliefs is this one . It's very inexpensive book that's worth every penny. I've read my copy at least five times and will probably reread it again. If you don't believe you can succeed at this, you're going to quit at the first sign of rejection. Studies have shown that people often quit at the point when they're starting to make a turnaround. Don't let this happen to you!

Not Researching the Marketplace

Although you need to have a unique style that differentiates yourself from other jewelry designers, you don't want to design in a vaccuum. If the prevailing trend is tiny post earrings, you don't want to go overboard with huge earring designs that hang down to the shoulders.

Likewise, if it's the year where all of the fashions shown are in neutral shades, there's not going to have much of a market for your pastel beaded necklaces. Keep up with those trends but don't allow yourself to be completely dictated by them.

These are the five main points I wanted to discuss that can make and break you in the handmade jewelry world. There are other minor points such as pricing, display etc. but if you address the issues outlined above, the minor points will likely fall into place. Ask yourself if you're making any of the above mistakes. If so, take action and see if you aren't rewarded with increased sales.

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Thanks for reading. :-)

Kristie