David Geller: Divide The Toils
Set individual sales goals for the year.
BY DAVID GELLER
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!
- I’d sure like to hit X-million dollars this year!
- 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:
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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Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
