Tag Archives: process

The Million Pound Necklace: Inside Boodles – review by Zoe Davidson.

 

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Just watched ‘The Million Pound Necklace: Inside Boodles’, a documentary showcasing the company’s process in craftsmanship and eye for detail for their most expensive, yet, high-fashion emerald necklace… And WOW the diamonds, emeralds and sapphires are unbelievable.

c940713bc0c31e455ef328501ddd6f54Seems that customer service is of top priority for their company, such as serving champagne and one on one attention whilst in their Boodles boutiques. From customer’s experience, they feel like they’re not being pressured to buy and like they are part of a “club”, a friendly charming service. The jewellery is indeed pricey, thus it is important to focus their marketing towards extra-special customers, such as celebrities like Classical Singer, Katherine Jenkins (seen left) and millionaires, to keep them in business. Marketing strategies include advertising only in a few luxury jewellery magazines, “word of mouth”, and hosting special events such as the latest, Boodle Boxing Ball, in Monaco seen in the documentary.

Katherine Jenkins looking stunning                                                                                                                           wearing Boodles Vintage Lace pieces.

Whilst all looking real good in this industry, there is a lot of risk and investment involved. The amount of effort in finding the right customers and attention to every last detail is paramount. After 2 months of making, the final emerald necklace was revealed, called “Green Fire”. The whole suite costs £2,500,000, whilst the statement necklace costs 1 million pounds, which they are still, yet, to seek a buyer.

Boodles-Green-Fire-Necklace-Adorn-Jewellery-Blog

“Green Fire” emerald necklace worth 1 million pounds — Will you be the next buyer?

Have a watch of this video ‘The Making of a Masterpiece’ which allows the viewers inside Boodles creative process of making the intricate Vintage Lace necklace.

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Design & The Market: Me Choosing My Path

Oh dear. So yes – putting life in my hands. Today in our Design Market group we looked at choosing the path we would take into achieving our potential business. What you need to think about to make it a sustainable and successful one. Scary stuff.

To begin with, we had a look at our ‘would-be’ customers and wrote down a list of the customer groups they would be. For example: Students; Fashion Runway Buyers; Hospital Buyers; etc. For each one we had to outline what their needs would be, what we would be offering them, how many there are, and so forth. Through this method of analysing our future customers it helps to see if your business has potential and whether it is actually needed. For my business, I found a number of different customer groups which I think is good because it brings range and excitement of varying customers. However, I think I would need a rather large team to back me up on the amount of work I would need to do!

Next, we headed into the Blueprinting Modelling sector. This, I found, was the most difficult. Just couldn’t get my head round where to put things! Blueprinting is a detailed flow diagram of your business’s stages in carrying out, for example, a commission piece. It just shows how your business will function when it’s actually doing business. For me, I looked at where I would go to create contacts then try get some of my work out to the public somehow, find people to work with me and so on. Sounds do-able. This allowed me to view the process of my hopeful business at hand. How it might work. How I can change it tomake it work.

Lastly, we looked at the importance of building relationships in business. Not lovey-dovey ones, professional team-work ones. It is important because it makes all stages in the process work. Imagine doing it all yourself? We focused on the four areas of activity in business. The Generator, the Realiser, the Distributor and the Customer. We had to find people we would need for each of the areas. I placed myself in the Realiser zone, as well as other collaborators, because I feel that is where my strengths lie. However, I would over-see other areas frequently. This exercise allows me to see who I would need to build relationships with and it’s importance. Building relationships improves and makes your business stronger. More sustainable. You just need to make sure there is plenty of trust and that they love the business as much as you do.

These exercises were helpful in outlining how my business would operate, create contacts/clients and who I would need to make it happen. Building relationships crops up again and again. It seems now that who you know can help greatly in business – like the old saying: “It’s not what you know, it’s who you know”.

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