“The definition of insanity is doing the same thing over and over and expecting new results.” I’ve heard this said so many times, it’s almost cliché (you probably have, too). But that makes it no less true.
If you’re an INSTORE reader, you’ve probably tried out an idea or two from our magazine in your store over the years — maybe even more than a few. So you’re not an “insane” retailer. But you should definitely continue to experiment. In fact, the top companies in the world strive to run thousands of experiments each year. FAST COMPANY reports that Google and Procter & Gamble run more than 7,000 experiments per year each and Amazon nearly 2,000. Amazon chief Jeff Bezos has said, “Our success at Amazon is a function of how many experiments we do per year, per month, per week, per day.”
With that in mind, our lead story, appropriately entitled “Go Big or Go Home,” suggests 20 experiments you can try to spur business to new heights (and another dozen ideas available online at instoremag.com).
Here at SmartWork Media, we don’t just preach it — we practice it. After all, we’ve recently launched INVISION for eyecare providers, and followed that up last year with Pets+ for pet store owners. We’ve even run successful experiments, like INDESIGN and the SMART Jewelry Show, from which we later decided to move on.
There’s no shame in choosing not to continue an experiment. But there is danger in not experimenting at all. To quote another (true) cliché, “If you’re not moving forward, you’re moving backward.”
And who knows: your next “insane” experiment just may be the one that makes 2018 your best year yet!
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More Than Five Smart Tips You’ll Find Inside This Edition
- 1. Consider partnering with a local nail salon to promote your bridal selection via discount giveaways. (Manager’s To-Do List, p. 26)
- 2. Cut the hours you are open to the public so that busy work gets done behind closed doors. (The Big Story, p. 38)
- 3. Direct mail a wealthy neighborhood every two weeks for three months. (The Big Story, p. 38)
- 4. Create a selfie booth, mural wall or backdrop for “Instagrammable” ring selfies. (Wisdom from the Road, p. 48)
- 5. Incorporate a great review, Facebook post or Instagram photo into all emails to clients. (Angie Ash, p. 62)
- 6. Look at your store as if you’re seeing it for the first time. Brightening up the appearance could give your staff renewed energy and enthusiasm.
- 7. Have fun with your branding and logo. Think out of the box.
- 8. Ask yourself: What kind of jewelry or accessory brand can you add to your store that will generate traffic and lead to impulse purchases?
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.
