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On the show this week Vanessa Burkitt is joined by Richard Haruni, Gem dealer and Director at The Gem Bank. Also on the show is this weeks Jewellery and Fashion Highlights and a competition to give you the chance to get your hands on tickets to go to an extraordinary event that Catherine Jones is hosting showcasing platinum jewellery.
Download “Star Radio’s Jewellery & Fashion Show – May 7th 2012″ (26.54 MB, 19:19)
It’s a tough old business world out there, especially in light of recent news that we could be about to hit a double dip recession. So you might be asking yourself what you can do to make your business stand out in these difficult times where everybody is clamouring for business in an ever decreasing market.
As you already know Vision and Goal setting is crucial to a successful business and this month I have been talking predominantly about Unique Selling Propositions – USP. When anybody starts their own venture they have a vision that their business is going to be unique and the service or product that they are offering is going to be far superior than what is being offered by the competition. And that may be true, but the trick is to let your potential customers know that. In this busy world of ours people want to know who and what you are at a glance. You might have the best, most up to date name around for your business but if you don’t have a USP, customers will pass you by.
One of the biggest advantages of USP’s is that it is a very easy concept to understand. You just need to concentrate on making it work for you and your business. The basic idea is to come up with a few words (a phrase) which suggests to the customer that if they buy this product they will receive this specific benefit. It needs to be unique to your product; something the competitors do not offer. It must say something strong enough to attract attention and pull new customers. Make the phrase revolve around the main benefit of your business. It also has to be something you know your customers are going to care about. Of course, just having any old USP is not enough. It has to be a good one!
You may ask why is it so critical to have a unique selling proposition (USP)? Well actually, this is one of the more important elements to a successful business. Let’s face it, unless you have invented something completely unique you will have business competitors. So it stands to reason that when you are marketing your company you need to make it stand out, to make it memorable and to distance yourself from the competition.
Of course nothing that is worth doing is ever easy. The task of coming up with your own USP can be tough and time consuming but it’s well worth the work. Your business vision is a good place to start, you can use it to help find your USP. By creating a USP, you will be offering something to your target market that will stay in their minds. It can then be used alongside your company name, on all of your sales and marketing literature.
To make life a little easier for you, this month’s planner contains a full explanation and work sheet on how to create your own USP. So if you haven’t already, you might want to start focusing on your marketing by finding your Unique Selling Proposition. Let this be your vision and goal this month.
For more information on finding your Unique Selling Proposition just follow the link www.thegembank.com/yearplanner and sign up to start realising your dreams of business success for 2012!
2012 was no different. And as every girl knows, even the most stunning gown would never be complete without accessorising with the latest jewellery designs.
The 84th Academy Awards saw current Hollywood step back in time to old Hollywood. This was the year that a silent French film made all the noise. The crème de la crème of Hollywood stars followed suit, by wearing classic simple dresses and adding the sparkle with large statement pieces of newly designed and vintage jewellery.
Brilliant white diamonds set in platinum were very much the trend this year, with only a few exceptions wearing gold. Elegant jewellery design was very well represented; we saw creations from Anna Hu, Fred Leighton, Harry Winston, Neil Lane, Tiffany & Co, Louis Vuitton, to name but a few.
Natalie Portman opened the trend this year for white diamonds set in platinum by stepping onto the red carpet wearing a stunning utterly timeless platinum and diamond v-shaped cluster necklace with matching earrings all by Harry Winston.
Louis Vuitton proved that charm bracelets are still very much in vogue by loaning Emma Stone their new interpretation of the Charm bracelet from their prefall 2012 High Jewellery Collection.
Not to be out done, Octavia Spencer who won an Oscar for best supporting actress, wore 20 – carat diamond and platinum briolette chandelier earrings with a large diamond and platinum cocktail ring to match by Neil Lane.
Neil Lane also accessorised Angelina Jolie’s little black dress with 20 – carat cushion cut drop earrings teamed with a matching 15 – carat cushion cut white diamond ring.
Tiffany & Co vintage and new designs were worn by many stars. Most notably was Cameron Diaz, who wore an emerald cut white diamond necklace and a large white diamond dome ring to match.
Meryl Streep, winner of best actress for “The Iron Lady”, stood out from the crowd this year as being one of the very few women wearing gold; in the form of large vintage gold drop earrings by Fred Leighton.
Of course not to be outdone the boys completed their red carpet look with beautiful but understated watches. Most notably for this was Jean Dujardin, Oscar winner for Best Actor in “The Artist.” He wore a Jaeger-LeCoultre Memovox Tribute to Deep Sea Watch.
So the future of Jewellery design for this year seems to be at least in part, simple elegant glamour with a touch of old Hollywood class!
I’ve added a few links below for you to get a real eyeful of all the oscar action.
http://www.professionaljeweller.com/pics-10929-red-carpet-jewellery-at-the-oscars-2012/
http://www.thejewelleryeditor.com/2012/02/oscars-2012-and-who-wore-what-at-the-84th-academy-awards/
http://www.adorn-london.com/jewellery-blog/celebrity-style-jewellery-blog/oscars-red-carpet-jewelry-trends/
http://www.ibtimes.com/articles/306566/20120229/oscars-2012-red-carpet-celebrity-jewelry-accessories.htm
Our Goals Drive Us Forward
Everyone has dreams* be it business or personal, big or small and most dreams can be turned into goals. The whole point of setting a goal is to help you bridge the gap between where you are now and where you want to be in the future. The reason as to why you should do it, is that it focus’s the mind. It is too easy to get bogged down with the day to day running of your business and to let your goals slide, don’t let the procrastinator that lives within us all win and don’t let the everyday stuff get in the way of you achieving your dreams.
February’s edition of the Creative Year Planner is all about how to set your goals. You will need to register, www.thegembank.com/yearplanner, but it is absolutely free. Below, I go into a little about why goals are important.
Setting Goals Makes Things Happen
By setting your goals and working towards them, it is much easier to attain the things that you want. People who set and achieve their goals are people who have decided what they want, committed themselves to going after it and haven’t let anything stand in their way. As I have mentioned in the past I have used goal setting to drive my business through these extreme economic times. Thankfully my business is improving. I put this down to hard work, having a vision of what I wanted and goals to help me achieve my vision – I’m still working on it though.
I understand that for many designer jewellers and indeed the creative community at large; areas of business are sometimes the last thing on the agenda for this quarter. But as Picasso once said “action is the foundational key to all success.” Meaning you have to actively engage in and work at achieving your goals. “Goal setting is the road map to business success”. It’s a simple way of laying the foundations of what you want to achieve and integrating it with your daily activities.
See the Bigger Picture then Break it Down
By seeing the bigger picture – whether it’s reaching a certain type of customer, exhibiting in a certain event, or launching a new jewellery line this year – breaking it down in to its bite sized chunks, with timed outcomes along the way, you will find that big goals, can very quickly become achievable.
Give Yourself a Realistic Deadline
You may or may not be familiar with the idea of setting SMART* goals. For those who are not, goals should be specific, measurable, achievable, realistic and timetabled to really be effective. Each element carries equal weighting, but having a deadline (that is realistic) can help you not only plot your progress, but will give you regular reasons to celebrate as you tick off goals you have achieved. A deadlines will encourage you to focus on your goals, maybe even creates a sense of urgency where necessary. Planned well, goals also sharpen the mind and make things happen!
Remember to be Realistic
Of course it is equally important to be realistic when planning your deadlines, as failure to achieve your goal may result in disappointment and discouragement. Break down each goal into a manageable stages, then work out a reasonable and tolerable time frame to each of those stages. But remember if you don’t hit your deadline, it’s not the end of the world; all you need to do is re-set it!
For more information on achieving goals with a deadline just follow the link www.thegembank.com/yearplanner sign up is free and if all that happens to you is you get closer to achieveing your goals and improving your business, then I’m happy.
*Dreams = Vision
Spread the love all year
Many businesses right now are breathing a sigh of relief that the big Christmas dash is out of the way and most are already starting to look forward and plan for next Christmas, and who could blame them, after all the Yule season is where alot of businesses make the bulk of their money. But does this have to be the case? For example Valentines Day is almost upon us, and even though we are currently living through an economic decline, Valentines sales still remain high. Statistics over the past few years say demand in the U.K for products this season is getting higher and higher especially for diamonds, with coloured diamonds also becoming more and more in vogue. In fact according to the American Express Spending & Saving Tracker ”love-struck consumers are expected to spend 8 percent more this year than in 2011, with four million people expected to announce their engagement on February 14!”
It’s not just on Valentines Day that people are splashing the cash. Recent sales figures show that there are consumers out there who are prepared to save up and open their wallets on special occasions. Because of this, the demand for diamonds and other high end luxury items is quite still high, despite this difficult economic climate that we are living through.
There is a big British year ahead full of huge calendar events that are ripe with sales opportunities that we can all cash in on, such as the Olympics and The Queens Diamond Jubilee. These events can be used to help even out the demand for sales throughout the year so that Christmas trading is no longer so heavily relied on. To make the most of these holiday sales it is important to look ahead and find ways to exploit and capitalise on each opportunity, then plan it effectively!
Let us not forget that bankers have hearts and feelings too, and as such I feel that we all have a responsibility to aid them in the hour of their need by helping alleviate some of the pressure on their bonus laden wallets by encouraging them to lighten their load by spreading the love of their hard earned wage, with a fine jewellery purchase, to give themselves a pat on the back for a job (cough) well done!
To help organise the year ahead why don’t you sign on to my Year Planner www.thegembank.com/yearplanner.
Happy Valentines!
Talk to someone different
As you were stuffing yourself with mulled wine and mince pies many of you were probably thinking about the coming year and what you could do to achieve your business goals. Or so we like to think. With the economic climate still looking uncertain at best, this makes that process even harder.
What’s worse, is that our inability to set out our priorities for the coming year (other than survive) creates anxiety as we go through the year. So that come the end of the year, we’re so frazzled and drained, that all we can do is eat more mince pies, drink more mulled wine and start all over.
I used to go through this cycle, year after year and as the financial crisis hit in 2008, would regularly find myself starring into the abyss of my computer, alone and helpless. Shortly after 2008 I decided to do something about it, but there was very little available for the jewellery trade as a whole and for the creative designers even more so. That is when I decided to do something about it.
If you have received my recent emails, or my invitation card, you may already know that I have decided to share what I’ve learned in the past few years on how to deal with the extreme economic crisis that we are all currently living through. I am a firm believer in creating a vision and setting goals. So from January, I will be launching my Creative Year Planner. It is a free monthly guide that will take you through the steps that are essential to get motivation and clarity in your business and most importantly, how to take it forward.
If it all sounds like hard work, don’t panic it isn’t. It does take time, direction and a little dedication.
Good news is that there is still time to sign up for the Yearly Planner, just follow the link www.thegembank.com/yearplanner
A vivion aired is a vision shared
Happy New Year!
Richard
January
In between the mulled wine and mince pies many of us are thinking about the coming year and what we can do to achieve our business goals. At least that’s what we tell ourselves we are going to do. With the economic climate still looking uncertain at best, this makes that process even harder.
What’s worse, is that our inability to set out our priorities for the coming year (other than survive) creates anxiety as we go through the year. So that come the end of the year, we’re so frazzled and drained, that all we can do is eat more mince pies, drink more mulled wine and start all over.
I used to go through this cycle, year after year and as the financial crisis hit in 2008, would regularly find myself starring into the abyss of my computer, alone and helpless. Shortly after 2008 I decided to do something about it, but there was very little available for the jewellery trade as a whole and for the creative designers even more so. That is when I decided to do something about it.
If you have received my recent emails, or my invitation card, you may already know that I have decided to share what I’ve learned in the past few years on how to deal with the extreme economic crisis that we are all currently living through. I am a firm believer in creating a vision and setting goals. So from January, I will be launching my Creative Year Planner. It is a free monthly guide that will take you through the steps that are essential to get motivation and clarity in your business and most importantly, how to take it forward.
Vision and Goal setting is a much tried and tested successful method for me. I have found that setting goals gives you a long term vision with short term motivation. It minimises distractions and focus’s the mind, in fact goal setting is one of the strongest keys to a successful business. Clarity and Vision ensure that your efforts are focused on achieving a clearly defined outcome.
It all sounds like hard work, but it really isn’t. It does take time, direction and a little dedication.
Good news is that there is still time to sign up for the Yearly Planner, just follow the link www.thegembank.com/yearplanner
Share your visions and goals!
Happy New Year!
Richard
Luxury by definition is very hard to pin down, as luxury means different things to different people. In this industry however, luxury is the highest measure of quality.
So, how are you going to convince your customer that when they buy from you they are not just getting another piece of jewellery? That when they buy from you, what they get is a piece of luxury, that their purchase is a quality piece of jewellery that can last a lifetime.
Whether you are a modern, contemporary or traditional jeweller, the rules for proving that your jewellery is luxury are the same. Ask yourself, do you strive to meet every individual customers needs? Are you prepared to tailor the service to meet their requirements? Is every piece of jewellery you produce important to you?
In every business, customer satisfaction is the key to success. When selling your jewelry, it is important to deliver ‘the luxury experience’ to every customer. Try to make every customer feel special, individual and distinct from everybody else. There are many ways in which you can convey to your customer the quality and luxury of your products, by the piece of jewellery itself, and the experience of choosing and buying it. These factors will give them piece of mind and confidence in your product.
The luxury experience starts with the first point of contact, which is as soon as they walk through your door. Treat every client as an individual; give them a highly interactive and personal service. Whether the customer is choosing a piece from a collection or inquiring about a bespoke piece, show them that you care. By giving them a perceived personal connection it makes each potential buyer feel important to you. By indentifying their requirements and striving to achieve them, this ensures their confidence in the quality and therefore luxury of your jewellery.
Set yourself and your jewellery apart by showing your pride in each piece. Tell the customer what is it that you do that makes your jewellery special. Tell them about the quality of the materials you use, and give them the information on how they are sourced. If they are looking for a bespoke piece to be made, you could let them be part of the process, perhaps letting them choose the gemstones that will be used. This will make the experience of buying from you rewarding and fulfilling for the customer.
Where luxury products struggle is when they are sold on the price tag alone. The customer who buys solely on price is probably doing so just to be showy and to flaunt their wealth. When this occurs, the emotions between seller and customer are different. Instead of the customer feeling special and individual, the connection is not made, and the experience for both parties can be an empty cold one. By not connecting with your customer any chance of repeat business is very much reduced.
Reviewing Your Goals – 6 months on…
Time flies when you are working hard on your own business! It’s hard to believe we are already at the half way mark in 2011. At this point in the year it is a good time to look back and take stock of what goals have been achieved over the last six months. We need to remind ourselves of the goals we set, and we need review them, to see what did and did not go well for us. So, have you achieved the things that you set out to do in 2011? And be honest, did you have a clear idea of what it was that you wanted to achieve in the first place?
What Kinds of Goals are you Setting?
Goal setting is a much tried and tested practice, it minimises distractions and focus’s the mind, in fact goal setting is one of the strongest keys to a successful business. There are many important points to consider when setting up your business goals, the easiest way to do this is by following the S.M.A.R.T method – every goal is to be; Specific, Measurable, Achievable, Realistic and Timely. At first the process can seem daunting, but don’t worry, it doesn’t need to be. The first thing you need to do is give yourself time to go through this process. I would recommend a minimum of half a day. Then ask yourself – for every goal that you want to set, is it specific, can you measure its success, is it realistically achievable, does it have a realistic chance of success, and finally, set yourself a time scale in which to achieve the goals and to review them!
My Own Goals for 2011
For my own business, I had three main goals that I wanted to achieve within the first half of the year. First and foremost my main goal was to make an online sale. Of course in order to reach that point, I would to have done enough to make the whole process work. I had to get my stock in order, my website ready, my payment system set up, just to make 1 sale. I am very proud to say that I achieved that sale in May this year, although it did take me three years of hard slog to get there!
My second goal was to put a sales team together. Again success was achieved, I’m pleased to say that I now have Gaetane and Marcia who both give excellent support to my customers; which is something I could never have achieved without them.
Last, but definitely not least, my third goal was to develop my online support for customers. I did this by working on and regularly updating my website, and by developing the information that I offer to my customer base. In addition to this I have regularly updated my blog to keep you all in the loop of what’s going on.
Now, I’m considering what I want to achieve for the next six months, and which goals I need to set in order to achieve them.
What goals have you achieved in the last six months, have you had success with them, or did you find it a struggle?
Post your comments below.
Handmade unique rings
In today’s tough economic times retailers and jewellery manufacturers are looking for an edge. What is needed is innovation and an injection of something creative into the business. However, tell many retailers to get creative, to freshen things up, and you will watch a look of dread creep over their faces. Often we find ourselves wanting and looking for change, but that change eludes us.
One source of change can come from a section of the industry that is often viewed as ‘alternative’, an area many out of town jewellers struggle to fully understand. The designer maker, I believe, holds a key to great innovation in any local jewellery market.
If retailers have taken on designer jewellers, they have often remained at the fringes of the display. By introducing the work of designer makers into a jewellery retailer, you are able to strike the perfect balance between showing more unusual or adventurous pieces in a more commercial setting, as quite often these pieces may only be seen in ‘gallery’ type shops where the emphasis is not on selling, but more viewing jewellery.
The retailer has much to benefit from this relationship, as not only do they access a source of creativity that they might not have exposure to (let’s face it trawling around international jewellery shows, looking for ‘the usual’, whatever that may be, is hardly inspirational), but they have an opportunity to create a relationship with a supplier that is actually passionate about what they do. This passion can be used to drive sales, which is let’s face it what we’re interested in.
Designers care more about their work, they take more time to make it, often have a story behind it, will often make one offs and their pieces of jewellery will generally be handmade from start to finish. In today’s economic climate, unique, handmade, locally made, inspired by, exclusive are all key selling terms and there is a flourishing source of home grown designers willing to go the extra mile to build their name and satisfy their customers.
The designers have a responsibility here too. Designer pieces are going to be harder to sell, let’s face it. You will have to work hard not only making the piece and giving it some commercial appeal, but you also have to give the retailer the tools to sell it; your story so that they can sell with confidence. If you’ve flown half way around the world to source your own stones that give you the inspiration, say so. If you use shapes that relate to something in nature, the person selling your jewellery needs to know that. If all your materials are ethically sourced – and you can prove it, do so. You’ll need your press pack, and resume (just a background and any awards you might have won) to give yourself credibility.
The designer jeweller needs to give the retailer confidence. Apart from the story, there also needs to be an element of flexibility. I am not one for sending things out on sale or return, but you don’t want the retailer to feel they might get stuck with something. To this end you offer a flexible exchange policy for certain items.
Promoting designer jewellery in a jewellery retail setting has to be to everyone’s advantage. But it takes effort to sell by the retailer and effort to support the retail sale by the designer. These efforts will pay dividends for both as this is what the consumer is looking for today.
Please let me know how you have succeeded and where you have faltered in promoting the sale of design led jewellery.
