How The Rise In Silver Prices Will Effect My Business

I've talked a lot about fear on my blog and about trying to move beyond fear.......

Lately I have been stuck in a pretty deep swamp of fear.

You see my industry is changing. When I started out in my jewelry career only 3 short years ago the cost of silver, my metal of choice, was around $18 an ounce. Today silver is at an all time high of $38 an ounce and it is only expected to continue rising in price. They are anticipating that it could get as high as $60 an ounce by the end of this year and in the next couple of years could rise as high as $250 an ounce.

I use sterling silver in every single piece of jewelry I make. Sterling silver chain, clasps, earring hooks, posts, wire, and sheet. It's all silver. Which means that every single component of my pieces has more then doubled in cost and is going to continue to rise. Which is really freaking scary.

When I talk about this in my circle,the average response is always "why don't you just raise your prices?" and yes, I will have to raise my prices. But this is a bigger issue then just raising my prices. Raising my prices to the extent that I will have to if silver prices get as high as predicted could completely change the market that I'm selling to. It could mean that my current market, my amazing customers that I have been selling to for the past number of years might no longer be able to buy my work, or will at least have to buy less often, or really think before buying. I really value my customers and my stores so thinking about them no longer being my target market is scary. I worry that this rise in silver prices will push out some of the businesses at my level in the industry if we don't prepare for it.

I feel like I need to get out of my frozen in fear state of mind and be proactive and protective of my business that I've built. So I've come up with some options and would love some feedback and thoughts from my customers, my fellow jewelers, my peers, other business owners, mentors, smart people, and Donald Trump (because I'm pretty sure he reads my blog).

Here are the options:

1. Continue growing my line as it is and increase my prices as needed.

2. Change to plated silver components in my jewelry, possibly even silver plated enameled pieces to keep my prices in the same price range they are in.

3. Explore alternative materials......base metals, fabrics..etc to try to keep costs down and prices low.

4. Create a gold line. Move higher end with my work and embrace a higher end market.

5. Move to Argentina, find a husband named Pablo and drink wine all day and all night.


If you want to share some feedback, ideas, tips, or just have a conversation with me please comment below or send me an email to info@pkkdesign.com

Rejection Sucks

As a jewelry artist I face rejection regularly.

For my career I apply to shows, exhibitions, galleries, magazines, books....they all have a fee to apply ranging from $15 - $50 dollars, sometimes I email them them photos, sometimes I send them actual jewelry pieces. Then they look.............and then I wait.

I wait with the mind frame that, "It would be great......I would be so excited......I feel like this is going to happen.....I'm going to get in, accepted, loved, adored......This is the right place for me....It would be great....my family would be so proud of me.....I would be so proud of me......I'm going to get accepted.......but if it doesn't happen I'll still be proud of me.....things will still be great......really they will...." All of these thoughts swirl inside my mind each time I send off an application for something.

And sometimes they do say Yes....which is such a high....so fun......so exciting......so lifts me up and continues to propel me higher.

You can see some of my proudest Yes moments here on my new media page.

But sometimes they say no.......you're not ready......it's not the right fit.....its so pretty but not right for us......try again next year......best of luck.....it's not you it's us....well okay they don't say that one, I say that one.

Hearing No......feels devastating.....like a punch in the stomach.....like a big doubt snowball thrown my way......No matter how many times I tell myself you need to have a thicker skin, it's not a big deal, it's all a part of learning and growing, you will try again and get in, you're amazing and talented and great things will come your way.....no matter how many of these mantras I tell myself....rejection still sucks. It really really sucks.

But everyone who has ever had a passion will understand..........The rejection isn't enough to stop me. I try something else, I try again.....I rise each time I fall.

Here is one of my favourite things to do when I hear No.....

I play this song really loud and sing along. "A Better Son or Daughter" by Rilo Kiley.




I would love to know what other people do when they hear a No and need to be uplifted.
Please feel free to share with me in my comments section or on my facebook page.

My Unconventional Business Tips

I have a one page Jewelry business plan for 2011.

This goes against everything that I learned in every business class I've ever taken. But i don't like business plans, They're like turtle necks to me - I see the usefulness, but i don't like the way they feel on my body.

My 2011 business plan is hand written on one page ripped out of my sketchbook. I've pinned it up on my bulletin board and it has 12 things on it.

I've researched the shit out of things in the past, I've written marketing plans, competitive analysis, SWOT's, financial plans....blah blah blah. I'm glad that I've done this, but the thought of opening up my plan on my computer and updating it makes me cringe. So for 2011, i decided to do things a little differently. I decided that 2011 is my year for no mucking around. I know what i want to do, now I need to do it. 12 things.....so far I've already started 4 of them...and things are rolling.

I haven't ended up with my deviant business planning ways overnight. Here's a little list of resources that I've found useful this far in my business:

The Women's Enterprise Society - I was a part of a peer mentoring group this time last year which was well worth it.

Tara Gentile - I've taken one of her e-courses and learned a lot.

Danielle LaPorte - I am loving my Fire Starter Sessions - which I won from a little contest Danielle offered. Yup, that's right I won.

Kerri Smith's Artist Survival Kit -Whenever i feel like I can't keep doing this Kerri Smith's hilarious Artist Survival Kit helps me to continue.

Alyson B Stanfield Art Biz Coach

Stayin' Alive: Survival Tactics for the Visual Artist

Growing a Jewelry Business

My business is growing. It is not growing really fast....I tried the fast and furious method when I first started out in business two years ago....lots of stores, big orders.......trust in people to be as honest as I am. I learned that business can be a tough world and when dealing with sharks "niceness" doesn't always get you paid. I learned a hard lesson early on in my career and I am thankful for that.

I now am pleased to be growing my business slower, and smarter. I am not a big flashy company. I am me. My two hands, my passion, my skills, the stories of my life turned into jewelry. I am my most alive self when I am creating...designing, hammering, enameling. I am my most content self when I am surrounded by art, by beauty, by other things that have been created by two hands and a whole lot of passion.

This is why I am delighted to have Patsy Kay Kolesar Design in Tartooful. Tartooful is a stunning little gallery located in Edgemont Village in North Vancouver.

Tartooful, 1.n. an object that is both beautiful and functional. well designed; of lasting value. 2 v. to beautify through simplicity. declutter; find the essence of beauty; surround oneself only with works of art. 3 adj. stylish and whimsical.

Tartooful is indeed filled with beautiful and functional products. It is stunning from the outside and draws you in. Once inside the shop I was in bliss - it is thoughtfully designed like a great art exhibition but also has a welcoming warmth to it that makes you want to engage with each of the carefully selected lines. The owner of the shop Cathy Church, chooses items for her space that she connects with, that tell a story and that offer something a little bit different to the world.

I think that it is a great fit for my jewelry. I am happy to have PKKD a part of this lovely shop. I am happy that my business is growing slowly, carefully, and with integrity.

You can click on these links to follow Patsy Kay Kolesar Design and Tartooful on Facebook. It's a great way not to miss out on new designs and to get updates on events.