Thursday, September 22, 2011

Is Atlas Shrugging?

 Hershey Kiss Pendant, good buy or not?
In the book Atlas Shrugged by the author Ayn Rand, the character Henry Rearden makes a speech while on trial. This trial scene in the book is where a judge asks Rearden “if the public deems it necessary to curtail Rearden’s profits, doesn’t the public have that right?” Rearden’s reply is “the public has the right to curtail his profits anytime they wish, by refusing to buy my products.”

Such is the case of the closing of GemClear Laboratories. According to a National Jeweler article GemClear opened four years ago to take advantage of the federal regulations that require irradiated diamonds and gemstones to be tested for radiation emissions. The idea is to protect the public from potentially harmful radiation, a good idea. Unfortunately for GemClear many producers have installed in-house labs to handle the work and thusly, GemClear is now out of business. Of course, GemClear is blaming the government for lack of enforcement, but is this really true? GemClear is claiming that some labs are doing shoddy work and the government is failing to enforce their regulations. Would turning all the work over to GemClear solve this issue? Are ALL the other labs doing shoddy work?

Since when did we need the government to keep a business in business? The jewelry industry can be very mercurial. Not only is it based on general business practices, but fashion trends and the economy have a huge effect on what happens, good or bad. Business owners make their own decisions regarding which direction they want to go. If a jewelry store owner decides to invest heavily in diamonds versus gemstones, or gold versus silver, they are the ones who have to own that decision. What the market and consumers dictate may have an adverse effect as well as a positive effect on their bottom line.
 Green Amethyst Necklace, good buy or not?
If I fail to stock my inventory with jewelry pieces that customers want to buy it’s kind of my fault. While every jewelry store owner should try and keep abreast of all the latest trends, it is almost impossible to predict what will be the hot item of the year. Trends and fads change so quickly who knows what everyone is looking for today.

While my own inventory selections have not been perfect, I know that sometimes it’s just a matter of finding the right customer. I have pieces that do not seem as popular as I thought, which is puzzling, since I actually like some of these pieces best. While other pieces that seemed a little trendy or costly can fly out the door on any given day and other days they languish. The bottom line is I am responsible for what happens to my business. I cannot and should not blame the government for the choices I make about my business. I should let my customers decide if they like my jewelry, which so far they like pretty well.
 10mm Amethyst Stud Earrings, good buy or not?

No comments:

Post a Comment