Starting Your Own Gemstone e-Business

October 18, 2013 by: 0

If you have interest in gems and jewelry, you can think of starting your own gemstone e-business. It is a simple and effective way to propel your interests and earn money at the same time. It is ideal for people looking to work from home. When it comes to starting your own gemstone e-business, you will need to put in a great deal of time and effort. Setting up a gemstone business online does not only need perseverance but also an unlimited cash flow. For the uninitiated, this might become a daunting task. With that in mind, it is always potent to seek help of experienced professionals. They will not only help you source high quality stones but will also aid you in starting your gemstone e-business on a large scale.


Things to Keep In Mind When Starting Your Own Gemstone E-business

Buy Online: Entrepreneurs who wish to start their business on a small capital can choose to purchase gemstones from the mining sites itself, to find them in affordable rates. With this, the ability to identify gemstones might come in handy. It is always good to have a trusted expert testifying the validity of the stones on the matter. This way, you can save yourself from potential potholes and subsequent losses. A number of jewelry trade shows and stores offer genuine items that can be purchased for affordable prices. Even with the cost of shipping, packaging and handling involved, you can make an affordable purchase.

Choose What Gems to Buy: One of the first things to consider before starting your own gemstone e-business is deciding the type of gems you want to sell. Either you can hire an experience gem cutter or you can choose to purchase cut gems beforehand. The advantage of starting your own gemstone e-business is that you can leave a high margin for profit, depending on the rarity of the gems procured. This can successfully make do for the initial capital cost setup involved in hiring skilled gemstone handlers, cutters and machinery.

Get Experienced Personnel: If you decide to buy pre-cut stones, then it is essential to get a stonecutter who is experienced enough to handle the job. In the gemstone business, every cut needs to be scrutinized with utmost finesse. The mere cut alone can add to the value of the gemstones. Otherwise, a single badly placed cut can reduce a precious diamond to cheap glasswork. In such a case, additional attention must be paid to cutting stones of lighter colors. Having proper knowledge of the cut and clarity can really help you in starting your own gemstone e-business.

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Identify Your Consumer Base: The next thing to consider is your target audience. If you can indentify your consumer, you will have won half the battle. Selling your products online to a number of high-end buyers and collectors will not only help you expand your client base, but also find a potent connection with them. A streamlined viewpoint of customers can bring forth better suggestions and products to keep them hooked. The best way to understand new trends is to conduct regular market researches in terms of price and quality. This way you will be able to get better exposure for your business and hence get a wider range of customers.

Starting Your Own Gemstone E-business: Outlook and Scope

While diamonds might prove to be a girl’s best friend, you can also reap rewards by dabbling into the gemstone business as well. With a number of speculations rising on the feasibility and outlook of starting your own gemstone e-business, it is essential to address the prospective long-term goals beforehand. This will not only make your decision resolute but shall also help you take better steps in starting your own gemstone e-business. With enough skill and expertise, you will be able to identify dealers with quality products and even find high-end buyers for the same. Since you are the broker in the proceedings, you will profit from both the purchase of gemstones as well as the sale. All of this can be achieved from infrastructure set up in the comfort of your home. You can jump into profits without much of an initial investment. If you are smart enough, you will never need to invest any capital in the buying or the selling business, you will be able to earn profits by merely correlating the relationship with the prospective buyer and the seller. The resulting potential of this venture is what makes it such an advantageous one. This enterprise has the potential to cross national barriers and eventually turn into an international venture, if every aspect is handled correctly.

First Steps in Starting Your Own Gemstone E-Business
Much of your initial capital and efforts will be analyzing your knowledge. Having a prior knowledge of gemstones can save a lot of effort, but it is always advised to brush up on the knowledge. The next step is advertising your business and drawing out potential customers for investment and sale alike. You will also need to invest in infrastructural facilities like a fast and reliable computer and a high-speed internet service. Eventually once you have sourced your material, you will need to create a website to create and maintain a potential client base. With growing sales, you will need to review your finances and consider expansion into other realms. You need to target international, tech savvy customers who are either looking for gemstones for personal consumption or to sell it for professional reasons. It becomes your primary responsibility to ensure customer satisfaction. Seamless transactions will have to be the core mantra in starting your own gemstone e-business. Investing in social networking websites to connect better with your customers is another premise to consider.

Tips to Help Maximize Your Web Presence While Starting Your Own Gemstone E-business
Given that starting your own gemstone business is no walk in the park, there are certain steps one needs to take before they can expect their business to be a roaring success. Online retailing is entirely different from its organic counterpart. It therefore needs to be handled differently to be able to see the light of day. Online marketing is attaining its height and every home business is vying for the top spot. In lieu of this cutthroat competition, one needs to be prepared in every sense of the word. Here are some tips to help you in starting your own gemstone e-business.

1.       Do Your Homework: Setting up an online jewelry endeavor is incomplete with prior knowledge of gems, stones, metals etc. With that aside, there are a number of things that also need equal attention. Firstly, you need to come up with a catchy name for your business and eventually get it registered with your regional chamber of commerce. You need to understand the implications of sales tax and therefore should take ample measures to make sure that you are never at fault with timely tax payments. For any query regarding the setting up of taxes on your local gemstones business, you can contact your trusted business advisor to come to your aid.
2.       Set up Clear Policies: When it comes to starting your own gemstones e-business, you need to give store policies a great deal of thought. Such policies will define the user experience and when treated with care can attract more customers to your venture. These policies include setting up returns, delivery, deposits and appropriate payments types. If you find the prospect of developing store policies from scratch daunting, then you can look at other online store policies for reference. This will help you get a leg up from your competition, as you will be able to delineate what policies you would like to include and which ones you can successfully do away with. Analyze your findings according to the business model you are willing to set up. You should keep enough room in your policy designing to include future amendments and expansions.
3.       Use Good Pictures: When setting up an online store for jewelry, one cannot emphasize on the importance of pictures enough. They not only draw customers to the product but also boost its chances of being shared on a social networking platform. This makes it an extremely important factor in boosting sales. Thus, you need to get good and high quality pictures. These pictures should not be of low resolutions, grainy or under lit. If the customer cannot see the expected degree of detail, then he cannot put enough faith or interest into your brand or the products that you have to offer. It also gives off the image that you are not taking your venture seriously.
4.       Product Descriptions are important: While a picture may relate a thousand words, a well-written description can add to the product image. Often even with the great degree of detail, photographs of your products cannot answer the basic queries. Customers might want to know what the cut, color, weight and clarity of the said gemstone is. If such information is mentioned cleanly in descriptions in an attractive way, it will push customers that much closer to purchasing the gemstone. This is also a great way to include search engine optimization techniques into your website. Including search-worthy keywords in your description will return more customers to your website, every time they run a search on a search engine.
5.       Provide Strong Customer Support: you cannot hope to just set up a website and leave the rest to chance. While the internet proves to be an excellent mediator, often customers need additional help in purchasing products. These queries pertain to product delivery, payments, returns and replacements that need prompt addressing. To that end, just having a support forum is not enough. Hiring a constantly available customer backend service will inadvertently draw more customers. With more customer satisfaction, you can expect resale and peer promotion in vogue. Besides, having a live customer support desk opens pathways for better interaction and generates precious feedback. Having an efficient support staff might seem like a heavy investment at the start, but it is sure to pay off in the future.

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Starting your own Gemstone e-business: Investing in the Right E-Commerce Platform 
The era of organic shopping is now out to die. Online shopping sites are growing in popularity. Therefore, it will be a folly not to reap the rewards of this phase. A decade ago, setting starting your own gemstone e-business was unthinkable mostly because setting up the website itself was such a task. This was hardly cost effective and left a great deal of loopholes in design. Because of which, customers were mostly unsatisfied of their transactions. Thanks to modern ecommerce designing platforms like Magento and Shopify, designing a website for your e-business is now easy. With a flurry of features being offered by both, how can the inexperienced proprietor select what is best for him?

The first thing to look at here is the pricing. A number of ecommerce designing websites are offering their interactive services for a small fee. Magento charges a monthly subscription of $80. This is extremely affordable for startup businesses as it gives them the self-reflexive nature that they crave for. The next thing to consider is the features. You need to opt for an ecommerce platform, which gives out the most user friendly and effective features. To that end, Magento’s features hardly need expert knowledge. Developers find working on magento’s platform much easier than any other does. With a host of extensions, you can change the entire look and feel of your gemstone website. When it comes to starting your own gemstone e-business, you need a platform that does your bidding without much effort. Magento Go is one such platform that offers a host of user-friendly extensions like accidental cart recovery, flat rate shipping, flexible payment options and live chat with customers. Most of these extensions are built in to the system and can be invoked by a non-technical person as well. This means that you do not have to hire a developer every time you need to tweak your website.

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Starting your own gemstone e-business can be a scary affair if one does not know what to do. Thankfully, this article should be able to point out the possible shortcomings, to help you make your venture a stronger one.

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