This can be a great and fruitful adventure on your way to setting up your own independent financial future away from the corporate ladder. But without the correct management skills many people go broke or end up working for minimal wages trying to make ends meet.



What do you think the number one thing is you need to be aware of when starting out?

Creating a positive flow of cash!

Creating that positive cash flow in your business is the most important thing as without it you are going to go broke!

Starting up a home jewelry business, or any other business for that matter means there are lots of jobs that you have to take care of yourself. Most of the time there will be no one to help you. You will need to be your accountant, designer, printer, stock controller and many more things besides.

Lets look at some of the essential things that will help you in your beading business:

1. Monitor your stock levels with a good inventory system:

By keeping track of your stock levels you will save so much time, money and effort that this is simply a must to do. Knowing what you have at any one time means that you will be able to plan your jewelry making, after all how much time do you waste if you start making a piece only to find that you don't have all the parts to complete it?

2. Cost out exactly what goes into your jewelry pieces including your time. By knowing exactly what your pieces cost to produce you can then calculate the best price you can sell them for so that you can make your maximum profit.

3. Have a good invoicing system. When you sell your completed jewelry pieces to your customers you need an invoicing system that will track your payments. Being able to look back at your records and see what money's are outstanding to you will help you quickly and easily chase up payments from customers.

4. Branch out and get other people to sell your jewelry for you. By getting other people to host jewelry parties of their own they can sell your goods and you can offer them a percentage of the takings. By doing this on consignment, so no money is needed up front by the seller, then they are more likely to agree. However by doing this you need to keep very careful records of what has gone out and what comes back so that you can keep on top of your stock levels.

By at least following the four basic steps outlined above you should be able to help get your beading business organised and making profits.

Good luck with your jewelry business.