It's a Matter of Taste

Here are a few facts: Polished diamond sales are down, rough is expensive, financing is below needs or bares high interest, the European economic outlook is grim, generic marketing is nonexistent, the prevalent price list is out of whack, in China GDP is growing but the pace is slowing, in India the exchange rate is driving manufacturing costs through the roof and the mood is as low as the Dead Sea. Welcome to the summer of 2012. Now what?

In an interview given in 1995, ten years after he was kicked out of Apple and running a company that clearly did not inspire him much, Steve Jobs had a gloomy yet mildly stated outlook. However, when asked about Apple or Microsoft, his criticism burst out, kicking and roaring. He said the two companies had no vision, were running on luck rather than understanding, and lacked foresight. Eventually, in reply to another question, he uttered about Microsoft, "They just have no taste."

At first it seemed a snobby and elitist thing to say, but something much deeper emerged when he later added, "The way we are going to ratchet it up, our species, is to take the best and to spread it around to everybody, so everybody grows up with better things."

That was his vision, maintained at one of his lowest points in life, looking 10-15 years ahead.

Back to the facts above – the diamond jewelry industry is at a low point, but forward looking should not be abandoned. What is our vision? How do we pour "taste" into the cup of our doings?

Instead of thinking 15 years ahead, let's look just six months ahead. The November-December retail holiday selling season is approaching, it's time to put gloomy feelings aside and get prepared for it.

In 2008 and 2009, the mood was so low that people were plowing the streets with their nose. Nevertheless, the holiday seasons were very good. Those that prepared for it – despite the dismal outlook – reaped the rewards.

As many are heading to their vacations, this is your opportunity to think creatively, write down ideas, consider them, trash some, improve others and eventually come up with a strategy and execute it, with renewed energy, come September.

Do it with taste – with the best people, best product, best designs – and spread it around, so everybody grows up with better things. And by "things" we mean diamond jewelry!

Have a great vacation, I'll be back in September.

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