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12 The Jewelry Business Magazine CREATE SUSTAINABLE PROSPERITY CDs are FDIC insured and offer sustainable interest payments. In this low interest rate environment it is difficult to prosper on the current interest from CDs. Bonds offer sustainable prosperity in the form of interest payments to the bondholders. Bonds are backed by the entity that offered them for sale such as a corporation municipality state government or the U.S. government which offers Treasury bonds. Some municipal bonds may offer tax-free interest. Even though bond interest rates are currently low bonds may serve to diversify your portfolio offset market volatility or even reassure lenders who view bonds as an asset they can understand value and possibly use as collateral. How to Create Sustainable Prosperity Sustainable prosperity implies stackable income streams of recurring revenue. Apple created an entirely new model when it introduced its 99-cent music downloads. It also profits from monthly recurring storage fees. Netflix changed the movie rental business with its monthly subscriptionprogramformovies.Pandoracreatedasubscription fee model for music streaming. Data storage services such as Dropbox charge monthly fees to store large otherwise unmanageable data. Doctors now have monthly or annual subscription services for their concierge medical services. Disruptive Strategies for Sustainable Prosperity We used to say think outside the box. Now we say there is no box. The book Blue Ocean Strategy suggests that the innovative businessperson can create a market where there was none in effect blue oceans of uncontested markets based on differentiation and low cost. Uber upended the entire taxi business with a new low-cost cashless business model that is typically transacted from a mobile device. Airbnb dislodged the lodging industry with its worldwide online model. Facebook started as a social network and transformed itself into an unprecedented and hugely successful targeted advertising website. Sustainable Prosperity in Your Jewelry Business Can you create stackable income streams of recurring revenue in your business This may require you to take an entirely new view of yourself and maybe even reinvent your business model. Can you think of ways that you can be a fine jewelry retailer and .. a recurring revenue stream service provider Amazon is a retailer who embraced the future and created a whole new business model online. They took that a step further to invent Prime a recurring revenue package delivery service. So Amazon a retailer is now a huge online retailer and a package delivery service. Apple is a computer company and a music download and data storage provider. Sustainable Legacy Sustainable prosperity for the jewelry industry may require that your business succeed throughout your lifetime and into the next generation if you expect to use your store and inventory as part of your retirement plan. What is your innovative business model to attract new younger customers to create stackable income streams of recurring revenue and secure your legacy How do you stay relevant in a digital world It starts with a state-of-the-art website and a dynamic web presence that extends to mobile devices and beyond. Donna M. Phelan MBA to Speak at AGS Conclave Join Donna M. Phelan MBA GG at AGS Conclave on Saturday April 16th 2016 at noon for a lively session on Prosperity Retirement New Strategies for Success. Donna shares the top 10 money secrets of millionaires 16 quick fixes for a broken budget and why money is like a smartphone. Learn new strategies for success and how to write a formal business plan for financing. Donna M. Phelan MBA Donna M. Phelan is the author of Women Money and Prosperity A Sisters Perspective on How to Retire Well. www.donnamphelan.com Donna has spent 19 years at some of Wall Streets largest and most prestigious investment firms. She holds an MBA in Finance from the University of Connecticut and provides personal finance advice to clients in twenty states coast to coast. She has been featured in USA Today Yahoo Finance. com CNBC.com NBC.com and The Houston Chronicle among others. Donna has lectured at conferences nationwide on a broad range of financial topics and is the author of numerous articles on investments retirement and financial planning. Donna was formerly President of the American Association of Individual Investors AAII Connecticut state chapter and was active in the Financial Womens Association FWA in New York. She is currently a member of the South Bay Estate Planning Council in Los Angeles. Prior to working on Wall Street Donna was Principal of a jewelry design and manufacturing company whose customers included Tiffany Co C. D. Peacock and Cartier for whom she did freelance design.