4 Simple Steps To Home Beading Business Success.
Turning your hobby of beading making into a business could offer you a much more exciting time than you think.
Doing something you love is the most rewarding thing in the world, especially if its paying you money, but many people go broke when starting out their own business. Having the correct organizational structures in place at the beginning is critical to your success, or failure.
Like any business you should have one goal.
Creating a positive flow of cash!
If you are not making a profit then you are going broke and while you may love making jewelry there are still bills to pay so it's essential that you start making a profit as soon as possible.
When starting out your own beading business, or any business for that matter, there are many things that need taking care of and there is normally no one to help. You need to be the business development manager, accountant, stock controller, customer care operator, printer, designer and many more things rolled into one.
By following these four steps you can be sure that you start your home beading business in the best way possible.
1. Keep inventory of your stock.
Now this sounds like a simple enough thing but so many people have no idea what they have in stock. If you dont know what you have in stock then how do you know what you need to buy? By keeping strict tabs on your stock level you can save countless hours wasted counting parts not to mention the money you save by not running to the store to buy another one of the same thing which you already have stuffed at the back of one of your drawers.
2. Know the cost price of all your jewelry pieces so that you can work out what you need to sell them for. You need to work out what pieces have been used to make a completed jewelry piece AND include your time as well. Its no good just marking up a few percent on the parts that you have used, your time is valuable too. By knowing exactly what your jewelry pieces cost to make then you can work out what your profit margin should be when you sell them.
3. Have a good invoicing system. When you sell your completed jewelry pieces to your customers you need an invoicing system that will track your payments. Being able to look back at your records and see what money's are outstanding to you will help you quickly and easily chase up payments from customers.
4. Branch out and get other people to sell your jewelry for you. By getting other people to host jewelry parties of their own they can sell your goods and you can offer them a percentage of the takings. By doing this on consignment, so no money is needed up front by the seller, then they are more likely to agree. However by doing this you need to keep very careful records of what has gone out and what comes back so that you can keep on top of your stock levels.
The four steps above should outline some of the major factors that you need to consider when running your own jewelry business.
I hope you have much success in your jewelry business.
Doing something you love is the most rewarding thing in the world, especially if its paying you money, but many people go broke when starting out their own business. Having the correct organizational structures in place at the beginning is critical to your success, or failure.
Like any business you should have one goal.
Creating a positive flow of cash!
If you are not making a profit then you are going broke and while you may love making jewelry there are still bills to pay so it's essential that you start making a profit as soon as possible.
When starting out your own beading business, or any business for that matter, there are many things that need taking care of and there is normally no one to help. You need to be the business development manager, accountant, stock controller, customer care operator, printer, designer and many more things rolled into one.
By following these four steps you can be sure that you start your home beading business in the best way possible.
1. Keep inventory of your stock.
Now this sounds like a simple enough thing but so many people have no idea what they have in stock. If you dont know what you have in stock then how do you know what you need to buy? By keeping strict tabs on your stock level you can save countless hours wasted counting parts not to mention the money you save by not running to the store to buy another one of the same thing which you already have stuffed at the back of one of your drawers.
2. Know the cost price of all your jewelry pieces so that you can work out what you need to sell them for. You need to work out what pieces have been used to make a completed jewelry piece AND include your time as well. Its no good just marking up a few percent on the parts that you have used, your time is valuable too. By knowing exactly what your jewelry pieces cost to make then you can work out what your profit margin should be when you sell them.
3. Have a good invoicing system. When you sell your completed jewelry pieces to your customers you need an invoicing system that will track your payments. Being able to look back at your records and see what money's are outstanding to you will help you quickly and easily chase up payments from customers.
4. Branch out and get other people to sell your jewelry for you. By getting other people to host jewelry parties of their own they can sell your goods and you can offer them a percentage of the takings. By doing this on consignment, so no money is needed up front by the seller, then they are more likely to agree. However by doing this you need to keep very careful records of what has gone out and what comes back so that you can keep on top of your stock levels.
The four steps above should outline some of the major factors that you need to consider when running your own jewelry business.
I hope you have much success in your jewelry business.
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