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From The Executive Editor

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It's a tough choice. Do you shoot for superior service, or immediate profits?  

FROM THE EXECUTIVE EDITOR 

 
It's always been a hard call. You read one set of business books that advocates going the extra mile (or ten) 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 there's another set of business books with titles like It's Time To Make Money, Up Against the Wal-Marts, and Planning For Profits: The Retailer's Guide To Success. 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, my friends, is a question you will have to answer for yourself. But our advice is: whatever you do, do it all out. If you emphasize service and the creation of long-term “raving customers”, then do the small stuff with a big smile on your face and keep your hands in your pockets when the job is done. You're gambling that your customers will be so impressed, they can't help but come back. And if you do your job well enough, they will. And if you emphasize making money for your labor, then make sure you really get paid. One example of a half-baked pricing policy that hurts jewelers is the cheapo watch battery replacement. Because it's what the local Wal-Mart charges, you charge $3.99. But what have you gotten? The job probably cost you twice that in parts, your time, administration time, etc. And chances are the customer isn't any more impressed with you then when he walked in. For good example of all-out pricing policies, check out Dan Gendron's and David Geller's columns every month in Instore. And speaking of “all out”, I'm all out of space. 
 
But before I go, I'd like to welcome Dan Kisch aboard the good ship Instore as our magazine's new publisher. I could go on about the wide experience and jewelry-industry knowledge he brings to our organization. But instead, I'll simply say this … He makes us better. 
 

Wishing you the very best business … 
David Squires  
Executive Editor and Associate Publisher

[email protected]
 
 

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Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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David Squires

From The Executive Editor

Published

on

It's a tough choice. Do you shoot for superior service, or immediate profits?  

FROM THE EXECUTIVE EDITOR 

 
It's always been a hard call. You read one set of business books that advocates going the extra mile (or ten) 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 there's another set of business books with titles like It's Time To Make Money, Up Against the Wal-Marts, and Planning For Profits: The Retailer's Guide To Success. 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, my friends, is a question you will have to answer for yourself. But our advice is: whatever you do, do it all out. If you emphasize service and the creation of long-term “raving customers”, then do the small stuff with a big smile on your face and keep your hands in your pockets when the job is done. You're gambling that your customers will be so impressed, they can't help but come back. And if you do your job well enough, they will. And if you emphasize making money for your labor, then make sure you really get paid. One example of a half-baked pricing policy that hurts jewelers is the cheapo watch battery replacement. Because it's what the local Wal-Mart charges, you charge $3.99. But what have you gotten? The job probably cost you twice that in parts, your time, administration time, etc. And chances are the customer isn't any more impressed with you then when he walked in. For good example of all-out pricing policies, check out Dan Gendron's and David Geller's columns every month in Instore. And speaking of “all out”, I'm all out of space. 
 
But before I go, I'd like to welcome Dan Kisch aboard the good ship Instore as our magazine's new publisher. I could go on about the wide experience and jewelry-industry knowledge he brings to our organization. But instead, I'll simply say this … He makes us better. 
 

Wishing you the very best business … 
David Squires  
Executive Editor and Associate Publisher

[email protected]
 
 

Advertisement

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

Most Popular