Forums: Discussions for entrepreneurs and small business.

Hi SUNsters,

Now that i am a member of SUN community, it`s my dream to put up a new business that really starts from SUN. I am considering online jewelry shop but i`m not sure if this will be acceptable to the online market.

My family has a small scale gold mining and we deliver the gold to our Philippine Central Bank Smelting and Refining Department as part of country`s gold reserve. The jewelry that we make is STANDARD carat. If it`s 24K, we can guarantee that it`s really 24K. Diamond has a CERTIFICATE that comes from our overseas suppliers. I can lower the price than what`s in the market coz gold comes from family`s mining business.

Jewelry products will be launched here upon the approval of the SUNsters if this idea is acceptable in the market.

Jean

jean808,

I recently posted at the BrandBuilding thread about your Resort pitch. I did not have a firm grasp on your offer. Yes! An online JewelryStore is a great online business to pursue. I`m sure that others will have more to say about it, but I`d like to say something. First, the best way to sell is direct from supplier. It`s your family business? Then, make your own style of Jewelry by Jean! And secondly, if you hope it can be sold primarily through a SUN marketing effort, may I suggest that you look into the Mall concept of a member venture of like-minded parntership over at the `Could we create a business together` thread. You could have a storefront of your own with your own expression of SUN Jewels. Or something with your own style and presentation. Anyway. Go for it. Jewelry is a hot seller if you can make it yourself and represent a unique style.

Hi frndchps,

Thanks a lot. Yes, i placed my vote already.

For the gold, it comes directly from our family`s small scale gold mining business. But for the diamond, we dont have a mining here so we actually ordered it from our overseas supplier and has a certificate of the real carat of it. Thanks for that great suggestion that i could have my storefront with my own expression of SUN Jewels. It`s really a great idea!

If ever, Jewelry is my first online venture (e-commerce) but my chinese friend which we supply gold running the jewelry store for almost 30 years now conservatively.  Yes, i could have my OWN designs.

Best regards,

Jean

With so much money at stake my guess is buyers would prefer brick&mortar jewellers so they can safely exchange their hard-earned money for jewelry.  Credibility is at stake with high amount, even at lower price.

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Hi Innovator7,

It`s like saying indirectly NO for an answer?

Yes, you`re absolutely right in saying that credibility is at stake with high amount but  how can a new entrepreneurs venture in this field if they are not given a chance?

Jean

Jean: 

If you have your own unique designs or you have a unique way of presenting your jewelry online and you mine the raw material~ I`d say~

GO FOR IT!

Start putting a few samples out and gauge the response.

My first thought when I hear about an existing business idea, is what`s the differentiator? In your case, you`ve got a helluva differentiator, if you ask me! Having your own gold mine brings to mind what`s-is-name...Juan Valdez, and the ad marketing campaign for Maxwell House coffee...I think?

The point is that although online jewelry seems to succeed fairly well in many cases, regardless of there being so many companies, yours would have a fantastic opportunity for sales! Consider that Wal-Mart recently got into the "organic" business in a big way. Why? Because people want purity in their food, with the implication of authenticity in all products.

People are tired of being ripped off, sold a bill of goods, and having to put up with cheap junk made in China just so as to save a few pennies in operations. Now along comes a jewelry store that can guarantee(!) authenticity! I think it`s a huge possibility, and would say to definitely go for it. I`d only qualify it by focusing on that marketing of "the real deal" kind of thing. Stick with gold, not gems, and hire a great designer.

:-)

Thanks a lot MiteyMite. I will try to put samples here. You are right, much better that SUNsters will suggest for any improvement.

Jean

Hi Craig, actually it`s my family`s small gold mine. The company name is Rañola-Jordan Small Scale Gold Mining Company. Well, i could say that i have 1 tunnel but i am there to protect the environment too. It`s hard to become an environmentalist and your family has this business. So, i see to it that they won`t do open pit mining that will ruin the environment. No blasting and other modern equipments to be used that will destroy the trees.

Yes, precisely right. Me too wants purity. Thanks for that suggestion. It brings hope to any entrepreneurs like me that aspiring to venture in Jewelry Store. Actually we do jewelry for our close friends and relatives and  through the help of my chinese friend with  30 years business in Jewelry, i could say that  i have a know how already but not in online Jewelry.  One thing that i don`t know yet and i have to consider in online is the freight and insurance. I`m not sure if only Fedex that caters in this business or there are other forwarding company?

Best regards,
Jean

There`s a classic movie, "Network," from whence the phrase "I`m mad as hell and I`m not gonna take it" derives. But additionally, there`s another very important bit of dialog in which the character says, "What I know, nobody can teach me. What I don`t know, I can learn."

The key to being an entrepreneur is to have the vision, the creativity, and the passion to make something out of nothing---to create something where before it, there was nothing but bits and pieces. Nobody can instill that style of living into someone, they can only develop it themselves.

However; when you initiate the business idea, from that point forward you can learn ALL of the rest! So don`t worry about freight, shipping, delivery systems, and that kind of thing at this point. Focus instead of the overall vision of the businss; how you can best utilize the various resources you`ve mentioned. You have a small gold source, a developer and designer, and the will to form the business.

The rest is part of a business plan. You can get help organizing these resources, training in how to structure the business, and all the rest. But what you can`t get, is that central vision of an idea that you develop as your own passion. :-)