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David Geller: Divide The Toils

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12 years ago

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David Geller: Divide The Toils

Set individual sales goals for the year.

BY DAVID GELLER

David Geller: Divide The Toils

Published in the February 2012 issue

Now that the holiday season is over, many store owners will be setting company goals. Jewelers typically make one of two types of goal around this time of year: I’d sure like to hit X-million dollars this year!

  1. I’d sure like to hit X-million dollars this year!
  2. I’d like to increase sales by 20 percent over last year.

Great! You have a number. But now, how to do it?

Today, I’ll focus on how to split up the work (and next month I’ll look at how to get staff buy-in).

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So, pick a number and then determine your share of sales. We have to start with the boss/owner because everyone asks for you!

If our goal is $1 million, and you (and your spouse) make 50 percent of total sales, then we take half a million off the docket.

That leaves $500,000 for the staff. I would suggest that you not divide up the sales based on what you think they will sell. Apportion sales based solely on this thought: Everyone should sell their fair share of the goal regardless of their skill level or tenure. (If you expect one person to do very well then it means the rest of the staff doesn’t have to push too hard.)

We will now split the sales goals based on a combined 100 hours:

David Geller: Divide The Toils

Post the monthly goals for everyone on a wall and track how they do. You now have a much better chance of reaching your goal.

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David Geller is a consultant to jewelry-store owners on store management and profitability. E-mail him at dgeller@bellsouth.net.

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When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”

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David Geller

David Geller: Divide The Toils

mm

Published

12 years ago

on

David Geller: Divide The Toils

Set individual sales goals for the year.

BY DAVID GELLER

David Geller: Divide The Toils

Published in the February 2012 issue

Now that the holiday season is over, many store owners will be setting company goals. Jewelers typically make one of two types of goal around this time of year: I’d sure like to hit X-million dollars this year!

  1. I’d sure like to hit X-million dollars this year!
  2. I’d like to increase sales by 20 percent over last year.

Great! You have a number. But now, how to do it?

Advertisement

Today, I’ll focus on how to split up the work (and next month I’ll look at how to get staff buy-in).

So, pick a number and then determine your share of sales. We have to start with the boss/owner because everyone asks for you!

If our goal is $1 million, and you (and your spouse) make 50 percent of total sales, then we take half a million off the docket.

That leaves $500,000 for the staff. I would suggest that you not divide up the sales based on what you think they will sell. Apportion sales based solely on this thought: Everyone should sell their fair share of the goal regardless of their skill level or tenure. (If you expect one person to do very well then it means the rest of the staff doesn’t have to push too hard.)

We will now split the sales goals based on a combined 100 hours:

David Geller: Divide The Toils

Advertisement

Post the monthly goals for everyone on a wall and track how they do. You now have a much better chance of reaching your goal.

David Geller is a consultant to jewelry-store owners on store management and profitability. E-mail him at dgeller@bellsouth.net.

{JFBCLike}

{JFBCComments}

Related Topics:

click to Comment(Comment)
Advertisement

SPONSORED VIDEO

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”

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