IN THE RECENT INSTORE 2020 Big Survey we asked jewelers “who run a nicely profitable store, still have time for family as well as friends and their own recreational pursuits” to tell us how they do it. Following are what you could call the 17 Habits of Highly Effective Jewelers with supporting quotes from store owners who took the survey. If you can do all of them, you’ll possibly be the most content and productive jeweler in the world.
1. Hire great staff and delegate – “Train and trust.”
“Hire the right people and you can come and go as you want.”
2. Prioritize and learn to say no. Start by putting family first.
“Every time you say ‘yes’ to something, you are saying ‘no’ to something else. Say ‘yes’ less and ‘no’ more. “
3. Be strict about days/hours – Don’t take work home.
We open 9-5 and leave work at work. We run the business. It doesn’t run us.
“Run the store, don’t let the store run you.” (We say this a lot)
4. When at work, work hard.
“After 40 years, I am starting to get it. Simply force yourself to take the time and then be more productive when you are at work.”
5. Be efficient – “Touch things once”.
“I recently got eyelash extensions to buy myself time to have coffee and breakfast with the family versus doing eye makeup to feel ready for work and rushing out the door.”
6. Work smart. Take advantage of technology.
“The communication world today makes life so much easier. I sell so much product via text, email, podium chat, it’s unreal.”
7. Work with your family – you’ll see more than enough of them.
“My business and my family are very entangled, so we find ourselves together often whether it’s around the business or not — but we love our store, so it’s OK.”
8. Think like a businessman: Focus on profit not revenue.
“Quit being a ‘jeweler’ and became a businessman. Once that happened, I didn’t have the stress and finance problems and was able to enjoy time with family.”
9. Start early in the day – the early hours are the magic hours.
“Start your day at 4:30 am – take a 2-mile walk, drink lots of water.”
10. Have a plan.
“Plan, plan and plan some more. Know what’s coming, being prepared for the event, holiday, etc, creates momentum for your team and has all of you ready to deal with last-minute errors.“
11. Marry smart (your spouse will be your best partner).
“My wife (is my secret). She got my act together. I’m more organized, she keeps me on top things, time management and never lets me forget where we came from.”
12. Love your work and you won’t have to worry about pursuing outside interests.
“There is little to no balance. Our store is our life (by choice and we are OK with that). It has afforded us a wonderful life and a beautiful home.”
13. Go appointment only.
“I am open four days a week and by appointment. I am not trying to be everyone’s jeweler.”
14 Get a good consultant.
“We’re highly profitable due to Focus Management. Stick to the 80/20 principle and don’t waste time on unprofitable.”
15 Lower your expectations and wants/desires.
“Stay small.”
“Store’s not very profitable, but who cares. Family and life more important.”
16 Have a process.
“You must be organized. If you are not, it all falls apart.”
17. Stay healthy/energized.
Making time for recreational pursuits and time with friends and family energizes and re-invigorates, giving me back what is needed to put more into work and the store. Without those things, it becomes an unforgiving, unhealthy imbalance.