Columnists David Brown

David Brown

Diamond Drilldown - Are your diamond departments delivering?

With diamond jewelry being one of the few unique product areas that jewelry retail has to itself, it makes good business sense that a reasonable amount of time and attention should be devoted to this. Hence the Diamond Drilldown we will be concentrating on in the lead up to December. If diamonds are not a significant part of your sales then it’s time to ask why.

As a benchmark we recommend the first goal should be to have Diamond Departments Totals of at least 45% of your Total Sales on the KPI (key performance indicator) report. There are already some stores that are achieving better than this, so their target should be 50%. Whatever your current level you always need to be aiming higher.

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The secret to a loving vendor relationship

Recently I was discussing inventory with a retail client, and we spoke about the amount of aged inventory they had with a particular vendor. The retailer had asked the ve...

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Will your business be your nest egg?

So, you’re working in your business, with no plans to retire. You might even believe it is too early to plan your retirement.

But hold on - at some point or other you wi...

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Every journey starts with a step - and a direction

In the daily grind of trying to earn a living, it’s easy to forget the true purpose of what you’re trying to achieve – or even whether the true motivation behind yo...

How to plan your future growth

How to plan your future growth

Over our last few articles you will have completed the steps in determining your long-term required wealth, the level of gross profit and the sales you will require to ac...

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Understanding your Gross Return on Investment

Understanding your Gross Return on Investment

In the previous 3 articles we have discussed the GAP between your required future wealth and where you are now. We have looked at how much gross profit you will require e...

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Is your inventory what you need for your long term goals?

Is your inventory what you need for your long term goals?

In our last article (find it at www.southernjewelrynews.com) we focused on the GAP in sales figures required and the level of gross profit needed to achieve your long ter...

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Narrowing your sales gap

Narrowing your sales gap

Last month we spoke about determining what level of sales and gross profit you needed to achieve in order for your business to deliver on your requirements – namely a c...

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Do you remind yourself daily of your purpose for being in business?

It’s very easy as a business owner to get caught up in the daily problems and hassles of running a business. Sometimes you need to step back and take a look at what it ...

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