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David Geller: Divide The Toils

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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 [email protected].


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SPONSORED VIDEO

Wilkerson Testimonials | MSG Jewelers

Wilkerson Takes the Worry Out of Closing

MSG Jewelers has always treated its customers like family. When owner Mike George decided to retire and close the doors of his St. Louis, Missouri jewelry store, he selected a company to manage his going-out-of-business sale that treats its customers like family, too. That’s why he chose Wilkerson. “Wilkerson was able to do all the things that we needed,” says George. In the end, the bittersweet store closing was so much easier with Wilkerson at the helm. From marketing to pricing to inventory, Wilkerson does it all. “It’s a package deal,” says George.

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David Geller

David Geller: Divide The Toils

mm

Published

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 [email protected].


{JFBCLike}

{JFBCComments}

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | MSG Jewelers

Wilkerson Takes the Worry Out of Closing

MSG Jewelers has always treated its customers like family. When owner Mike George decided to retire and close the doors of his St. Louis, Missouri jewelry store, he selected a company to manage his going-out-of-business sale that treats its customers like family, too. That’s why he chose Wilkerson. “Wilkerson was able to do all the things that we needed,” says George. In the end, the bittersweet store closing was so much easier with Wilkerson at the helm. From marketing to pricing to inventory, Wilkerson does it all. “It’s a package deal,” says George.

Promoted Headlines

Most Popular