Comprising a bevy of wonderful jewellers, the Australian jewellery trade operates in conjunction with a strong economy where people live privileged lifestyles.
Despite this, I constantly hear negativity from members of the trade: complaints that the economy is bad; that there is a lack of customers; and that competition from imports is stiff, as is the general competitiveness of the business.
But if you really love what you do, you will find a way to reach your goals. Isn't it more rewarding when something is difficult to achieve - and you finally do achieve it?
Overall there is enough business for everybody - business for cheaper jewellery, business for high-end, importing and exporting. The consumer is more aware of jewellery now than ever and there are many more buyers.
Instead of constantly lamenting the negative, let's harness the positive energy the trade really gives us. First, let's look at what we could improve upon.
Manufacturing is one facet of the trade we could focus upon more heavily. There hasn't been many new apprentices coming through of late.
I would attribute this trend to our workshop conditions. Many workshops are really more for individual, rather than corporate, designers. People are becoming much more professional and aware that they need to have a special angle/trend that they work towards. The standard of craftsmanship is much higher today than ever before.
However, our downfall is that we're not really manufacturing in a big way; we are not looking at the big picture. By operating single-person workshops, we are craftsmen rather than large-scale manufacturers. So the big manufacturing industry is just not there, and we're not really looking at the big picture: to manufacture on a global market instead of just an Australian market.
This is a real shame because suppliers and manufacturers are looking at the imports coming from Korea, China and India and saying, "We can't compete." But this is untrue. There isn't just one type of jewellery existing; there are several different types, and not everybody wants the same standard.
In Australia, we are reputed for producing well-finished hand-makes. On this basis, we can compare ourselves with the Swiss, the Italians and the French; however, when we compare China's offering, we're comparing our product with reproduced, big-volume lines made under cheap labour.
With this jewellery, good enough is near enough. Australia should not try to make its jewellery cheaper to compete. It should instead concentrate on producing better-quality, higher-end pieces.
Today in business, you must be very sharp, an entrepreneur. You have to be a designer and you've got to be out there with a genuine desire to be different and innovative, travelling, gauging trends and sparking new ideas. As your customer becomes more discerning, you must too. You must be aware of what is happening in the world industry, not just Australia. What are the Americans doing? What are the Europeans and Asians doing?
Once you've amassed this insight, you can then feel confident in your product, in your business and in your industry. This air of confidence will resonate to your customers, and enhance the relationship you have with them.
Today's customers are not just going to walk into your store and buy a $10,000 diamond. They need to feel comfortable, to understand what's happening, before making the big purchase.
If you are confident in your product, your customers feel confident in buying from you and that reflects in your sales. Where else does confidence come from? From being positive.
There's no point complaining about the problems with the industry because these won't help you to be successful (and no one is going to listen anyway). Instead, resolve the problem and always look for the silver lining.
About the author
Name: Nicola Cerrone
Company: Cerrone Jewellers
Age: 57 (but 21 at heart)
Position: managing director
Qualifications: manufacturer, entrepreneur, designer at large. Importer, exporter
Years in industry: 40
Soapbox is a monthly column that aims to allow industry figures the opportunity to discuss specific industry problems and how they can be solved. If you would like to appear in soapbox and have your say, please contact the editor on 03 9696 7200 or email: ajed@gunnamattamedia.com.au