It seems to me that most jewelry store owners, sales managers, and salespeople are working in their store or business, not necessarily on their store or business. What is the difference you may be asking? Working in your business is simply reacting to the day-to-day happenings within the organization. Most are waiting on customers, buying merchandise, accounting for the merchandise and the receipts of the day, displaying merchandise, creating and running advertisements and doing various promotions. Others are working on their business by proactively seeking new information, reading as many business books and trade journals as possible, attending educational seminars and actually growing the business.
I have always believed that if a jewelry store owner or manager can create an environment of personal growth and development, then that organization will be successful. People cannot just react to the way things are. Aggressive, progressive people need to create business, not just wait for business. Many people have been doing things the same way for years, if not decades. Retail is changing, the jewelry business is certainly changing, the way people shop and buy merchandise has changed, and I know that it will continue to change.
If you keep doing things the same way you have always done things, how could you expect any different results?
I have talked many times, about what I call the five silver bullets to productivity improvement. These five silver bullets could also be called “Good, Sound, Business Principles.” These things need to be incorporated into all aspects of a retail jewelry store today.
- Goals - set on three levels: minimum, goal and stretch goal
- Accountability - on all levels including but not limited to, personnel, merchandise, and marketing
- Training and Coaching - The four areas are Sales Techniques, Product Knowledge, Operational Knowledge, and Customer Service
- Non-Negotiable Sales, Customer Service, and Operational Standards - these things cannot be compromised in your company. For example: Thanking customers, turning over a sale that is going south, clienteling, how a repair is written, attempting to close and adding-on, how the store is opened and closed to name just a few.
- A Training Process - Jewelry stores need a training process in the same four areas, sales techniques, product knowledge, customer service, and operations. You can’t assume anything - jewelry retailers need a formal system.
The retail jewelry pie isn’t going to get any bigger in the near future; however, your portion of the retail jewelry pie can increase substantially. It is through the consistent application of good, sound business principles, or installing the five silver bullets, that will almost guarantee success well into the future.
I will be the first to admit that it isn’t easy. There is no short cut to the success counter. It takes a lot of hard work, self-determination, enthusiasm, drive, leaving your ego at home, perseverance, motivation, and extra effort to make a store or a business what you have always dreamed that it would be and what your customers hope that it will be when they walk in the front door.
I am reminded of a plaque that I have had on my desk for thirty years, it reads.
“Enthusiasm is a catalyst, when added to wisdom and experience, can produce small miracles. If you want to turn hours into minutes, renew your enthusiasm.”
I can think of no better time than right now to renew your enthusiasm for your store or business and make things happen. It is all available for the taking.