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 organizational skills many people go broke or end up working for minimal wages trying to make ends meet.

When starting your jewelry business there is one major factor you should keep in mind.

Keeping your cash flow positive!

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

When starting out your own jewelry business, or any business for that matter, there are many things that need taking care of and there is normally no one to help. You need to be the business development manager, accountant, stock controller, customer care operator, printer, designer and many more things rolled into one.

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

1. Keep inventory of your stock.
Now this sounds like a simple enough thing but so many people have no idea what they have in stock. If you don’t know what you have in stock then how do you know what you need to buy? By keeping strict tabs on your stock level you can save countless hours wasted counting parts not to mention the money you save by not running to the store to buy another one of the same thing which you already have stuffed at the back of one of your drawers.

2. Know the cost price of all your jewelry pieces so that you can work out what you need to sell them for. You need to work out what pieces have been used to make a completed jewelry piece AND include your time as well. Its no good just marking up a few percent on the parts that you have used, your time is valuable too. By knowing exactly what your jewelry pieces cost to make then you can work out what your profit margin should be when you sell them.

3. Invoicing your customers.
You have to bill people for the pieces that you have made so you will need an invoicing system that can easily create invoices that look professional. If your jewelry looks professional then it makes good business sense to have professional looking invoices for your customers.

4. Consignment Records.
Hopefully you may be at a stage where other people are selling your jewelry for you. Here again you need to keep track of your stock, what’s sold, what’s returned, how much mark-up do you sell to them for.

The four steps above should outline some of the major factors that you need to consider when running your own jewelry business.

Here's to your success!