Category Archives: economics

David Geller, 14th generation jeweler, author of the Geller Blue Book, and expert on jewelry retail, wrote an open letter to the jewelry industry that is a must-read for all of us.

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              We humans aren’t particularly fond of change. The status quo feels safe, and it allows us to operate on auto-pilot. But while auto-pilot is excellent for basic functions like breathing and walking, it’s … Continue reading

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Where costs + branding effort = margins The zeitgeist issue of the week is pricing strategy, and how to price products for acceptance in the market. This is an issue all my clients confront. For software clients, pricing strategy differs … Continue reading

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All business owners must differentiate or compete on price, but the stakes are much higher for designer businesses. Differentiation on design is the primary argument for maintaining higher prices, and failure to do so undermines the entire business premise. Do you know which questions to ask when establishing your pricing strategy? Continue reading

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The changes you choose to make now will have tremendous impact on the success you can expect in the future. Too many companies are cutting loose important (strategic) talent, eliminating their advertising budgets, changing their marketing strategies, and reducing their operations to customer-unfriendly shells in fear-fueled efforts to survive. Continue reading

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I invite you to ponder two thoughts over the weekend. I’d like you to think about the effects of fear, and the benefits of action. Continue reading

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A depressed economy takes existing conditions and magnifies them. It’s like stop-action photography. The bad business decisions we make that would normally unfold over years, instead unravel in a year, a quarter, or even a month. This is how we explain some organizations in every industry thriving while their competitors contract and fail. Continue reading

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The 24-hour news cycle requires 24-hour news content. The news world looks to itself for reportage. The competition to produce stories leads to little – or rushed – thought and analysis. News consumers dislike ambiguity and crave comfort, so the news media spoon-feeds us certainty and pre-approved bias. The result? Very few people understand the current economy, economic history, or the potential pitfalls and promise of various solutions. Continue reading

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Sure the economy is difficult. But you’re going to go to work anyway, right? So take a page from the independent retailers (booksellers, music stores, jewelry stores, video stores) who have thrived in the face of significant big-box retail competition. If you start viewing the difficult economy as if it were a difficult competitor, perhaps you can convert that helpless feeling of anxiety to a bout of righteous activity instead. Continue reading

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Recent government intervention makes it likely that we will experience another short burst of growth prior to experiencing a recession. Job growth hasn’t increased because it can’t – the labor market is too tight. But an interesting trifecta – the government’s new financial incentives for business to invest in infrastructure, the weak dollar creating export growth, and the emerging baby-boomer retirement wave – should contribute to earnings growth for American workers over the next few years. Continue reading

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