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Manager's To Do

Cash Flow Ideas, Staff Brainstorm Topics and More Manager’s To-Do Items for July

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July 2-8

MERCHANDISING Move your birthstone display to a more prominent spot to remind your clients of this fun tradition. This should become a periodic exercise and July is a great time to start, as ruby, in addition to being a really cool birthstone, is a favorite alternative for the center stone in engagement rings.

OUTREACH Things a bit slow at your store? Olympian Diamonds’ Aleah Arundale recommends going to retirement homes and giving talks on gold buying. “It’s tough when business is slow. The most important thing is to keep trying different things.”

SALES Have a brainstorming session with your staff about what data need to be tracked in order to measure productivity and to find areas that can be improved. There are the obvious ones such as sales to goal, average sale and closing ratio — but look at casting a wide analytical net to capture those hidden indicators of performance, such as add-on as a percentage of sales, phone calls made, Instagram chat interactions and anything else they can come up with.

July 9-15

MANAGEMENT Here’s something time-management experts are always recommending: weekly reviews of your week — a habit, yes, but one that involves stepping out of the daily habitual stream to gain perspective. And now is the perfect time to implement it.

BENCH Consider purchasing a gold and diamond tester. Some jewelers put it off because they think it might be complicated or take time learning to use it. But they’re really simple to operate.

MARKETING Schedule repair clinics in the slow summer months for those customers who love jewelry for the handiwork involved.

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July 16-22

PLANNING June is the month for weddings, right? After all, that’s the origin of the popular term, “June Bride.” Well, Hallmark doesn’t agree. According to its figures, August has become the most popular wedding month over the past four years. June comes second. What’s that mean? Tweak your wedding marketing plan and try again.

ONLINE To stay relevant, you should refresh your website every two years and fine-tune it every six months. That six months is up. Customers will visit your store only if they like your website and think it looks modern. Does your site have simple lines, motion, huge photos and at least a hint of prices? If not, get busy.

July 23-29

REPAIRS Go through finished repairs for jobs that haven’t been picked up. Then the day before payday, call the owners and suggest they come and pick up the piece (while they’ve still got the cash).

EVENTS In a lifestyle center, strip mall or downtown location? Take the lead in organizing a community block party. Loads of fun and a great crowd generator.

PLANNING The idea of living on in perpetuity in digital form has some appeal, but it could be a headache for your surviving family because they may not be able to access many of your online accounts. The answer? Appoint a digital executor — a tech-savvy person who will be able to close or manage accounts in line with your wishes.

Over the years, INSTORE has won 76 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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Wilkerson Testimonials

Cleaning House for a New Generation

At Komara Jewelers in Canfield, Ohio, Wilkerson handled all the aspects of its retirement sale just as owner Bob Komara’s children took over day-to-day operations of the business. They’d used other companies before, says Brianna Komara-Pridon, but they didn’t compare. “If we had used Wilkerson then, it would have been so much better.”

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Manager's To Do

Get Everything In Place For Mother’s Day, Spring Clean Your Shop and More To-Do Items for April

Your managerial planning for the month starts here.

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Mar 31-Apr 6

INVENTORY Start your Mother’s Day (May 12 this year) preparations by going through last year’s data. Compare popular price points with what you have in stock now.

MERCHANDISING If you haven’t done it yet, buy white cotton gloves for everyone to wear when they’re moving product around — they keep skin oil off jewelry and prevent sterling goods from tarnishing.

Apr 7-13

BUYING The biggest names in bridal fashion will showcase their spring and summer collections during Bridal Fashion Week in New York. Will last year’s royal wedding still influence trends? Tune in to the online coverage to find out what is likely to get young brides excited this year.

MARKETING Get ready for Mother’s Day by planning a “Dad and child early evening out.” Select a shortlist of gifts for Dad and the kids to choose from. Offer gift-wrapping. Send out your first round of emails or mailers by the middle of April.

Apr. 14-20

NETWORKING Contact any churches, synagogues or women’s groups in your area. Tell them you’ll speak for free about gemstones and jewelry at their luncheon meetings.

TECHNOLOGY Everyone complains about the distractions of digital technology, but then they let every app on their phone buzz and flash at them all day long. Today, turn off your notifications. All of them, if you can (with the exception of web-connected smoke alarms, of course.)

Apr 21-27

FINANCIALS Review your cash-flow projections. With the economy in a state of flux, it’s easy to run into a mismatch between the cash flowing in, what you’re taking out, and what you owe your vendors.

INVENTORY Finalize Father’s Day watch and jewelry orders. And don’t forget anniversary jewelry — your ticket to profiting from all those June weddings of years past.

Apr 28-May 4

SALES Set up T.O. teams, recommends sales trainer Shane Decker. When you see two people who work well together, schedule them together. “The success of a T.O. team — two different selling personalities or opposite genders paired together — can skyrocket,” Decker says.

WORKSHOP More spring cleaning, this time in the shop. Use a steam cleaner on your tools but get rid of anything you have not used in a year. Straighten up your bench. Having things where you can find them leads to more efficiency and fewer headaches.

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Siblings Day, National Volunteer Week and More Important April Dates

Seize on this date to own the ideas of truthfulness and trust in your community.

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10 Sure, sometimes they wouldn’t surrender the TV remote, and you had to wear red because they got the blue top, and they never seemed to do their fair share of the dishes … But they are also the only other people on the planet who understand what weirdos your parents are. On National Siblings Day, remind your customers of all this. Siblings are like the best friends we never asked for but are really glad we have. They deserve a nice surprise gift — in red.

7 On National Volunteer Week, pick up litter on roadsides or in your local creek, serve food to homeless, repaint the children’s shelter; do something to give back to your community.

14 On Be Kind to Lawyers Day, send a cheery note of thanks to yours for their hard work keeping your business safe from legal jeopardy.

30 Those honored on National Honesty Day are given “Abes” to mark their commitment to truthfulness. Sponsor an event at a local school. Own the ideas of truthfulness and trust in your community.

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Manager's To Do

Capitalizing on Valentine’s Engagement Sales, March Madness and More March To-Dos

Your managerial planning for the month starts here.

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Mar. 3-9

BUDGETING Time to get started on making a budget for the 2019 buying season and get ready to trade in old inventory for new inventory. Also, if possible, have an inventory reduction sale to get rid of the dated inventory before going to Vegas.

SALES FLOOR Beware the ex-brides of March! Divorce filings are highest this month. Do you have a script ready explaining why the resale value of an engagement ring may not meet the customer’s expectations? If not, get busy.

Video: How to Hire the Best People for Your Jewelry Store
Jimmy Degroot

Video: How to Hire the Best People for Your Jewelry Store

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should
Jim Ackerman

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store
Jimmy Degroot

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store

MARKETING Remember all those clients who bought engagement rings in advance of Valentine’s Day? Call to see what their plans are for wedding bands.

Mar. 10-16

MERCHANDISE It’s March. Embrace the madness. The NCAA Men’s Basketball Finals starts on March 17 and runs through to April 8. It’s a great chance to clear out old inventory with a quick Sheer Madness Sale! At the very least, organize a pool for staff.

SHOWROOM Is your custom area as friendly as it could be? Does it feature a gallery highlighting past designs, portraits of satisfied customers, updated displays, appropriate lighting, a signature scent?

Mar. 17-23

MARKETING Hold a Prom Dress Party. Encourage girls to bring their dresses into the store and try on jewelry with the dress. Identify pieces to excite them at prices that will entice a sale (that means jewelry with a big look for less money).

MERCHANDISING Pull out your promotional calendar and view it from the perspective of using the events to manage and reduce specific inventory. Annual customer appreciation sales, trunk shows, open houses, and repair/jewelry remodeling events can all give your finances an even greater boost if you execute them with a view to moving certain items.

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MANAGEMENT Download a time tracker to your phone and start logging how you spend your work life — not because there’s much value in the record you create, but because the very act of recording can have a powerful psychological impact, leading you to use your time much more efficiently. (Warning: Brace yourself to be alarmed at how you fritter away time.)

Mar. 24-30

SHOWROOM In one analysis of a university building in Oregon, workers on the greenery-facing side took 19 percent fewer sick days. It apparently has to do with how we evolved to function best in nature-rich settings. If you can’t knock a side wall out to provide a view of the glorious outdoors, buy a few potted plants to place around your sales floor.

PERSONAL Take an inventory of your tech use and evaluate each item for its usefulness, working on the assumption that if something can’t justify itself, it’s out. Exit the social networks you barely use and get rid of the apps that, when you think about it, have no benefit. Yep, that means Candy Crush may have to go.

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