Connect with us

Tip Sheet

A Fit Place to Meet Potential New Customers … and More Tips for July

mm

Published

on

TO OUR GROWING list of unlikely places to meet potential customers, Phillip Bosen of Bosen Associates recommends your local CrossFit class. He cites the following three reasons: 1) It isn’t cheap, but those who become regulars are committed to investing in themselves (ideal clients); 2) The sense of belonging to a tribe is quickly forged when you sweat and accomplish goals together; which in turn supports 3) People buying from people they know (You!). And you’ll get fitter, which is not a bad side benefit.

Reframing the Internet

Many jewelers lament the transparency that the Internet has brought to pricing and jewelry sales. But Alex Weil of Martin’s Jewelry in Manhattan Beach, CA, thinks they should welcome it instead. “We find it makes things easier when clients come in already knowing what to expect on prices and what they would like to purchase,” he says. “It remains up to us to provide the experience and fulfillment of the request.”

Build Better Sellers

If you’re a young store and don’t yet have a standout salesperson on your team, a good way to help create one is by sending staff members to other stores to watch their great salespeople in action. Have a relationship with a non-competing jeweler with outstanding salespeople in your state or region? Write a letter to them, starting with “Hey, I’d like to ask you for a really big favor …”

Quickest Draw Wins

Ready, aim, fire. That was overwhelmingly the approach of successful U.S. entrepreneurs, according to University of Virginia business scholar Saras Sarasvathy: The successful ones rarely made long-range business plans and scorned market research. Instead, they went for quick wins — a few sales, then a few more.

Concede Fast, Lose Fast

Britain’s chief Brexit negotiator David Davis’s management textbook, How To Turn Round A Company, offers some interesting takes on how to come out on top in business talks. His list of golden rules includes “quick negotiations are very bad for one party or the other” and “losers make the first concession on major issues.” Instead, he recommends making “piecemeal concessions with a declining concession pattern. Make the opposition work for their concessions, and when the deal is struck, make them feel that they have done well.”

Hold Off On the “To” Field

Have you ever sent an email to the wrong person — like a long, sarcastic lament about a demanding customer … to that very customer? To prevent that from happening again, email app maker Sanebox suggests leaving the “To” field blank until you’ve proofread your email. It’s a small step that can save you enormous embarrassment.

Advertisement

No Surprise Firings

An employee should never be surprised to learn they are being fired. If their first response is “Why, why me?” the fault lies with poor management, says Jack Welch, explaining that it was obviously never made clear to the individual that he or she wasn’t measuring up. Says Welch: “You tell the bottom 10 [percent] where they stand, and if they don’t improve, you tell them to go. You want to field the best team; the only way you’re going to do it is by having the best players.”

Pretend You’re at Home

Monique Breaux, lead designer with Posh Interiors in Lafayette, LA, says that increasingly, owners of sophisticated retail environments are looking to incorporate elements of residential design as they seek to make their spaces elegant but not intimidating. So, if you’re planning an update, consider consulting a designer who has experience designing upscale home interiors.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Downsizing? Wilkerson Is Here to Help

Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular