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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

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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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

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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Most Popular