Holiday Game Plan...?

Today's Silver Price: $33.79/t.oz.

Game Plan: None.

Am I supposed to have one?

During an online forum on Etsy I heard that for the holiday season you should plan for increased sales, therefore you must have increased inventory. The audience members were asking what the experts were doing to prepare for the holidays. The experts suggested simplifying your collection of merchandise- or editing down to the most popular items. Focus on creating items that are proven sellers. Hmmm, I guess this is no time for experimenting.

This makes me think of a presentation I watched on creating your own path to success. The presentation was entitled "Design Your Own Success." The speaker was Sharon Ann Lee who is a cultural trend analyst, writer and artist. The presentation is about 30 or 40 minutes and I highly recommend watching if you have the attention span especially if you are a small business owner. There's also some good life lessons in there. She explains the difference between when "your ass is broke," and when "money is coming out of your ass." Good stuff.

ANYWAY.... One way Lee says we can be more successful is to become more efficient in our work. Lee explains the 80/20 rule, or the Pareto principle. It goes like this: 20% of your work brings in 80% of your results (revenue), and therefore 80% of your work and effort only brings in 20% of your results. She states that you should cut out the 80% of your effort that is not producing maximum results, thus giving you more free time. Interesting theory, however I have yet to determine what 20% of my effort is most profitable.

If I were to compare painting to jewelry making, painting definitely takes more time and effort, and so far has been the least profitable. A painting may take 5 hours, 10 hours or more to complete. Usually a piece of jewelry takes 20-30 minutes to complete and maybe less. So perhaps I should focus solely on producing jewelry? Devote my time and money to creating as much jewelry as possible and put the painting projects to the side. I hate the sound of that. But it may be a sound business decision. Did I just figure out what the 80% to cut is???

And thus ensues the battle between heart and mind!

Holiday Prep!

Today's Silver Price: $34.11/t.oz.

I've got one month to go before I do a craft fair and a holiday boutique party in one weekend (Dec 3 and 4)! I'm hoping that these two events will be my most successful yet! I'm also hoping that silver prices stay relatively low this month because I need to stock up on materials. The price of silver has been creeping up in the last couple of weeks. The patterned sterling silver wire that I bought recently worked out REALLY well, so I am hoping to purchase more of it. And.... it comes in copper!  I'm going big on rings this time around. I made a great ring out of the patterned wire but I gave it to my mother and forgot to take pics. I'll have to make another ASAP so I can post images. I also learned to use a Dremel to grind down rough edges on the wire. I'm on my way to being a real metalworker, haha!

The patterned wire also lends itself to making cuff bracelets, however it requires a bracelet mandrel- which I don't have! From what I've seen they cost about $30 to $40. I may just have to spring for one! The wire is bent or hammered around the mandrel to form a bracelet shape. Pretty simple process and could produce some very popular pieces (no alliteration intended).

I have a new necklace idea that I want to try. I saw it at a jewelry party- it's a 2-in-1 necklace. Basically it's a 32" necklace that can be doubled to become a 16" necklace. I think it would be pretty expensive to make in silver so it may have to be only in copper. Maybe I'll try out some silver-plated material, but that makes me nervous. I worry that the silver plating will chip or peel. Also I think any cuts made would not be clean. I guess I'll never know until I try it.

So I've been re-thinking my display as I seem to do before almost every show, lol. For my first show I displayed my earrings on homemade black earring cards. Then for a couple of events I used window screens to hang my earrings from. The window screens were great because they allowed light to pass through the earrings and a lot of my pieces have glass beads that reflect light. However when a pair of earrings was purchased it was a little tedious to take them off the screen and put them back on a card. I'm debating whether or not I should go back to the card display... which now that I think about it may pose a problem as I believe I threw out the display box I built... hmmmm. I might also need more boxes for ring display, since I plan on having a ton of rings available. If I have necklaces to display (which I haven't in the past) I will have to come up with some new display ideas. Better start planning for it now...

I'm very excited about these two events coming up and I am anxious to see what the public will think of my new items. There's lots of work to be done so I will be a busy bee for the next month! Time to get the production line (me) cranking!