Jewellery Business Week – Hayley Kruger on learning from experience

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Hayley Kruger sells her own statement jewellery designs under the Hayley Kruger Adornment brand as well as teaching a range of classes including  beading and leather jewellery  at the London Jewellery School.

She is also one of the presenters on the videos for our distance learning business course.

What motivated you to start your own jewellery business?
I have always been strongly independent and so having my own business was an inevitable goal, but I was finally driven to it after working as a jewellery designer for many high street brands, where you are very restricted by what you can design.
And so when the opportunity came about that I could create my own range I jumped at the chance.

What has been your best business decision?
Having opted out of big business loans, when this was still available, I avoided  being restricted having to pay back large amounts of money.  Meaning that I had to learn very quickly about cash flow and how to manage my invoices. Some  might say that a large loan would have bought me more exposure and PR, as  well as fancier studios, but I have witnessed other business and designers who  did take this route and now they have a heavy burden to bear.  Particularly  during this tough financial time.

What has been the biggest surprise/shock about running your own  business?
Things rarely go according to plan. And plans always take three times longer than expected. Fact!

Would you like to share a mistake you’ve made that others could learn from?
Be prepared and know your prices before approaching any potential stockists.  I embarrassingly made the mistake of not doing this once and ended up feeling like a total amature and fool.  The stockist questioned me on the wholesale and retail prices of my products and the lead times that it would take to full fill and order, as all stockists do.
I know now that this is obviously the most important information to any potential buyer, as we are both running a business after all.  However all I wanted was for some one to tell me how wonderful my jewellery was.  Some times it is hard to distance yourself for the emotional connection  that you have with your work and  to put on a business head, but this comes with time.

What one thing would you say to someone starting their own jewellery business?
Be hard working, tenacious and above all be passionate about what you do.
As if you don’t love it, how can you expect any one else to love it too, but don’t be put of or dissapointed if a few retailers or buyers turn you down, as you can’t please every one all the time.

Take their comments on board and be prepared to learn and grow.

Special offer to help grow your business

biz 2Don’t forget there is still time to take advantage of the special jewellery week 15% discount on our distance learning jewellery business course which covers all aspects of running a successful jewellery business from legal and tax issues, to budgets, selling and pricing and marketing your products.  The course includes over a hour of videos, a workbook and case studies of successful jewellers, as well as including a year’s membership of LJS which gives you discounts from suppliers and a listing on the LJS Members’ Directory.

To get your discount buy the course before midnight on Sunday 20 January 2013 and enter the code LJSDL13 at the check out. Please note the discount is restricted to one per person.

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