Start a gemstone business
(First steps)
Easy
Post difficulty
5 min
Post Length
Gemology
Gem-related Field
We received two messages this week from students who want to start their own gemstone business. They asked for some advice and we thought it'd be nice if we shared our thoughts on the subject with you!
Work
Nothing Comes Out Until There Is A Strong Desire To Do So!
First and foremost, we feel it is critical to understand your objectives. You may want to launch a gemstone business, but keep in mind that Rome was not built in a day!
We strongly suggest you get your first job out of university in a gemstone company where you will be dealing with hundreds of stones every day. You will become accustomed to the different stones in your hands in this way. Remember that life is not what you learn at school. You are never prepared to face perfect conditions as depicted in your academic books! This almost rarely occurs.
Your customers will always have an idea in mind, and they will most likely be the ones that know exactly what they want. If you are not ready to propose alternatives to what they desire, you are already doing it wrong!
The first piece of advice would be to basically learn the job. It is not a simple task. But don't burn the steps; instead, be patient and observe. See if you truly enjoy what you're doing.
We strongly suggest you get your first job out of university in a gemstone company where you will be dealing with hundreds of stones every day. You will become accustomed to the different stones in your hands in this way. Remember that life is not what you learn at school. You are never prepared to face perfect conditions as depicted in your academic books! This almost rarely occurs.
Your customers will always have an idea in mind, and they will most likely be the ones that know exactly what they want. If you are not ready to propose alternatives to what they desire, you are already doing it wrong!
The first piece of advice would be to basically learn the job. It is not a simple task. But don't burn the steps; instead, be patient and observe. See if you truly enjoy what you're doing.
Business
Think Outside The Box
I (the marketing guy) have worked for a wide range of companies throughout my career. And today, I can rightly assume that the gemstone industry is a highly specific field that is restricted to a few codes. If you give me a pencil and ask me to sell it, I'll come up with hundreds of ways to advertise it, either in amusing ways or with out-of-the-box ideas. This, however, does not apply to the gemstone industry (even less if you are dealing in high-end jewellery).
However, there are countless ways we could improve the industry: ethics, sustainability, working conditions, and so on. This brings us to the second part of our advice: look for added value on the market. When starting a business, you should consider a hundred different options. There is already a multitude of competitors in the market!
What could you do to set yourself out from the crowd? Should you arrange one-on-one meetings with your customers and go stone-hunting with them on the field? Should you focus on only ONE type of gemstone and become an expert in that field? Should you become an influencer in this field? Why don't you put your gemstones on display in the Metaverse?
However, there are countless ways we could improve the industry: ethics, sustainability, working conditions, and so on. This brings us to the second part of our advice: look for added value on the market. When starting a business, you should consider a hundred different options. There is already a multitude of competitors in the market!
What could you do to set yourself out from the crowd? Should you arrange one-on-one meetings with your customers and go stone-hunting with them on the field? Should you focus on only ONE type of gemstone and become an expert in that field? Should you become an influencer in this field? Why don't you put your gemstones on display in the Metaverse?
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Some ideas may seem ridiculous, but believe me when I say that if you keep doing what you're doing for years and never stop, you'll quickly become "that's the guy to contact if you need this."
Business
Is It REALLY what you want to do?
Finally, or perhaps most importantly, for students who want to start their own gemstone business, consider this: do you really...REALLY...want to start a gemstone business?
Have you considered how difficult it could be to run your own business without prior experience? Have you considered all of the taxes, certificates, payment methods, accounting, marketing, sales, insurance, and lost items, among other things? Have you considered how difficult it may be if you start out on your own and don't attract any customers for the first few months while still having to pay certain fees?
I don't want to discourage you from doing it (that would be my absolute opposite ambition!), but I do want you to understand that it is difficult to start everything from scratch, especially straight after finishing your education and having little experience. You could do that and learn everything on the fly, but it's a bit risky and entirely dependent on you. Go for it if you're confident enough in what you're doing.
Have you considered how difficult it could be to run your own business without prior experience? Have you considered all of the taxes, certificates, payment methods, accounting, marketing, sales, insurance, and lost items, among other things? Have you considered how difficult it may be if you start out on your own and don't attract any customers for the first few months while still having to pay certain fees?
I don't want to discourage you from doing it (that would be my absolute opposite ambition!), but I do want you to understand that it is difficult to start everything from scratch, especially straight after finishing your education and having little experience. You could do that and learn everything on the fly, but it's a bit risky and entirely dependent on you. Go for it if you're confident enough in what you're doing.
Taking high-quality pictures is what distinguishes us from our competition (in some ways). GemMatrix also specializes in ethical and traceable stone sourcing. We have also been in business since 2004, giving us time to establish ourselves in a busy market.
Comments Section
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Benjamin Poudevigne
Social Media Manager at GemMatrix
With over ten years of marketing experience, I finally decided to settle down in Bangkok to work in an area that I have always been interested in: the gemstones industry. I'm still learning how the market works on a daily basis, and I enjoy sharing my experience with those who are interested in learning more about gems in general.