b'JUST THE RIGHT AMOUNTYouve probably noticed at some point when a product or service is very rare, it doesnt create a large market demand. When something becomes prevalent enough for many people to find interest in it, or a need for it, demand from a much wider audience grows. By Bill BoyajianIs it better to have the only gas station on a corner, or to beThisremindedmeofwhatyouneedinyourjewelrystore one of several on a busy intersection? Is it more profitable fortoday. I see stores with showcases so full of stuff that it boggles a restaurant to be on restaurant row, or to be at a destinationmy mind. Jewelers dont realize that they have beautiful new all its own? Why do car dealerships tend to congregate in oneproducts next to old styles that simply dont sell, but they still major area, even though they compete with each other? Itskeep putting the goods out each morning and putting them the same at a shopping mall with many jewelry stores. back in the safe each night. What you dont need is so many items in your cases that cause customers to be confused, or Thetruthis,ittakesjusttherightamountofproductsorsimply put off by old products that just dont sell.services to generate interest and demand. In Dubai, there is a shopping mall with some 250 jewelry stores in one majorOnefatherandsonIknowhadconstantargumentsabout destination. Is that too many, or just the right amount? how many ring styles and bridal lines they had in inventory. The father said we need everything out. The son said there Man-made diamonds created little interest when they wereare only a dozen or so actual styles that our bridal customers very rare and unavailable to the masses. Now that productionreally want. Why then clutter up our showcases with things that hasincreasedsignificantly,andmarketingspendismoresimply dont sell and worse yet, confuse our customers about prevalent,demandfrommorepeoplehasrisenandthewhat to buy.product is a reality in the marketplace instead of a curiosity.The truth is, you dont need everything you think you need. WewerevisitingYellowstoneNationalParklastFallandBut you do need the right jewelry with the right styles and at stubbledacrossawonderfulcoffeeshopwithgreatcoffeethe right prices to make everything work. Take a hard look at drinks, superb pastries, and a very interesting bookstore. Weyour cases this week and ask yourself what products you would spent a lot of time there just hanging out because it was a greatbuy and wear from your own store. One owner said it this way. environment to be in to start each morning. The store had aI cant find one piece from my own store that I would want to wonderful selection of books. Not a huge amount, but justwear. Now thats a shame.enough to keep our interest and in a wide variety of subjects we might not encounter even in a large Barnes & Noble. Bottom line, its not how much you have; its what you have and whether thats what your customer wants. Think about this the next time you go to open a new line or add merchandise to your mix. You the need the right products, and in just the right amount.Bill BoyajianBill is the former long-time president of the Gemological Institute of America, and is currently founder & president of Bill Boyajian & Associates, Inc. His company consults for a wide variety of businesses in the gem and jewelry industry, specializing in leadership, business, and organizational development, family transition, and succession planning. Bill is the author of Developing the Mind of a LeaderYour Path to Lead and Inspire People. He is a sought-after business coach and speaker, and can be reached at bill@billboyajianassociates.com.12 | The Jewelry Business Magazine'