Somewhere along the road in business we all have to make a decision about what we are good at and what our passion is - it's no different for me; I like dangle earrings.
What I like is the creative and using my hands to make them.
Tonight my wife and I went over to a lodge to set up and show off my jewelry. The gift shop at the lodge had some samples of someone else's work. The items were really nice, but the prices were so far out of line for this local market that I wondered if the designer knew it.
Well, as the guests came into the main room where we were set up and began looking at my items, the complements about the design and pricing began to flow. It was amazing. We did more business in two hours than we had previously done in any showing, including day long festivals, and I took on no less than three special orders.
What does all that mean? It meant that the work that I had put in understanding the local market in both style and spending habits paid off. Doing your due diligence is an absolute must and knowing your market is tantamount to success. Also, knowing your competition doesn't hurt either. My style is unique and matched with my price structure I have a winner.
Do yourself a favor and do the research, be a secret shopper and go into your competitor's shop, stop by their booths at festivals and shows, take notes and adjust your business plan accordingly. You will be surprised at the pay off.
"Inquiring Minds Want to Know"
Doug
www.JDKellyJewelry.com
Saturday, October 2, 2010
Subscribe to:
Posts (Atom)
