All, Mature is a word that strikes to the heart and applies to all
humans no matter what task they are accomplishing. Mature in the
sense of this discussion is about the ability to maximize your
selling by recognition of your product. I have experienced this
many times in my sales experience at shows and one to one with
jewelers. Customers expect my stock to have certain items available
every time they see me. Introducing a totally new line must be
approached cautiously and as a supplement to products for which I am
established.
My sales experience has shown many doors are closed because my
products are often not made of the top 1% of materials. Prospective
customers admire the artistry and skill, but do not purchase because
the material quality is too low. Lack of money from the loss of
these sales puts a definite cap on my ability to expand and create.
You may experience this same problem with the metals you use and the
materials you craft into the metals. After 20 years my business has
not matured to the point that I have the monetary flexibility to
compete in many markets. Establishing an acceptable product line is
the first step to overcoming marketing problems. Bernd Munstiener
will be exhibiting in Phoenix this week. His products will be as
expected. I would call the products and success of Munsteiner
mature. Work by German cutters is not more skilled than mine. They
are established, with a solid marketing strategy. They are mature.
Products made by Munsteiner sell for 10 times more than similar
products that I produce. An item that I can sell for $150 they will
get $1500. If I increase my price to their level I do not sell.
That is why I no longer produce similar products to other gemstone
cutters. I have to establish my own line. When my products and
marketing generate enough capital to expand into the targeted
market my business will be mature. Gerry Galarneau