Editor’s Note: Choose a Path

Published

9 years ago

January 20, 2015

Is it better to demand to be paid for every minute, or should you bet on a fuzzy future return?

BY DAVID SQUIRES

This article originally appeared in the February 2015 edition of INSTORE.

What kind of retailer are you? It’s a question you should ask yourself every few years.

You read one set of business books that advocate going the extra mile for your customers — with titles like Wow Your Customers!, Raving Fans and Knock Your Socks Off Service. (How far can they go with this aggressive titling? Will we someday see a business book with the title Create Frothing-at-the-Mouth, Offering-To-Bear-Your-Children Customers … For All Eternity!) Then you come across a different set of business books with titles like It’s Time to Make Money, Up Against the Wal-Marts, and Profit First. These emphasize doing your job well, but making sure you get paid for Every Second of your time.

So what do you do? Whose star do you follow? That answer can only come from you. But our advice is: Whatever you decide to do, do it all-out, with total commitment. If you emphasize service and nurturing long-term “raving customers,” then do the small stuff with a gigantic smile on your face and keep your hands in your pockets when the job is done. You’re betting customers will be so impressed, they will return again and again. And if you do your job well enough, they will. On the other hand, if you emphasize making money for your labor, then make sure you really get paid. Don’t charge $3.99 for a watch battery replacement because that’s what Walmart charges. You won’t make money, and you’re not gonna impress customers either.

Make a choice. Then go all-out. It’s the right path to follow.

Wishing you the very best business,

one quick question for jewelers

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”