Connect with us


How to Inspire Your Team to Show More Enthusiasm … and More of Your Questions for July

Plus … do non-compete agreements really mean anything?




How to Inspire Your Team to Show More Enthusiasm … and More of Your Questions for July

How can I get my staff to show some enthusiasm in the store?

Sales trainer Ivan Levi suggests you try this exercise: Form a circle and have each person state what he or she appreciates about fellow team members. The positive comments may well surprise you (especially the ones about you). “I have seen the grumpiest team-member walk on air for days after this exercise,” says Levi, who recommends you run the exercise monthly in sales meetings. The result will be a smiling, more confident sales force. And the best part is that your customers will notice a positive change in your store, he says.

I’m thinking of asking all my staff to sign non-compete agreements. Good idea?

A non-compete can keep someone from revealing trade secrets or from competing in a relatively small geographic area for a limited period of time, but — to be valid — it can’t be much broader than that. Courts generally aren’t sympathetic to contracts that prevent a person from earning a living. They’re also expensive to have drawn up properly and later enforced. And ultimately, they should be unnecessary if you run your store well, meaning hiring team players and doing things to ensure customers stay loyal to your store, not to any individuals within it. That implies an onus on you, the owner, to stay involved in all important sales, even if it’s just to say congratulations).

What should I look for in a creditcard processing contract?

The first thing to ask for is “interchange plus,” which is the most transparent pricing structure for business owners. Unlike tiered pricing, interchange plus ensures processors get paid the same amount no matter what kind of transaction occurs. For example, in tiered pricing, rewards-card transactions are charged a higher interchange rate as well as a higher processor markup. Although the higher interchange can’t be avoided, with interchange plus pricing the processor markup is the same no matter what kind of card is swiped. This makes it easier for you to estimate your processing costs each month.

Second, see if they’ve included a cancellation or early termination fee clause. If they have, insist that it be removed.

Ignore any offers of “free” or leased equipment. It rarely is free, is cheap anyway and you’ll have more freedom to switch to another processor if something goes wrong in the relationship.

Final thing, be wary of seemingly low introductory rates. When you see an ad offering a 1 percent fee, give the processor a call and ask how much the rate is when a rewards card or a commercial card is swiped. Most reps will get uncomfortable telling you that information, because it will be much higher. Such teaser pricing is typical for tiered and its evil cousin ERR pricing, which should always be avoided.


What makes a good apology?

Unguarded sincerity is always a good start — and then according to a recent study, you want your apology to include these six elements:

• An expression of regret
• An explanation of what went wrong
• Acknowledgment of responsibility
• A declaration of repentance
• An offer of repair
• A request for forgiveness

According to Roy Lewicki, the professor at Ohio State University’s Fisher College of Business who led the study, the key element is acknowledging your responsibility followed by your offer of repair. “If you say you want to fix things, and explain how, your apology will go a lot further,” he says.

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



Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

Promoted Headlines






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


Latest Comments

Most Popular