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Kick in the Tush

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Bad economic news can inspire good habits.

 

If I were a jeweler … (cue swirly Brady Bunch dream sequence effect.) If I were a jeweler, I wouldn’t ignore the economic upheaval currently taking place in the United States. But I wouldn’t freak out about it, either. 
 
How would I look at it? As the big kick in the tush that finally got me doing the things I already knew I should be doing.  
 
I’d buy differently. Month by month, even week by week, I’d analyze price points selling in my store. I’d concentrate harder on them. I’d promote them more often in my ads. 
 
I’d sell service and custom design. I’d promote “remixes” of old jewelry. I’d definitely do a let-us-babysit, restore-and/or-redesign-your-heirlooms-while-you’re-on-your-summer-vacation service. 
 
No way would I cut my advertising budget. But I’d cross my fingers and pray that my competitors did. And I’d definitely pull out my guerrilla marketing manual and experiment with low-cost promotional techniques to boost my business even more — while not reducing my current advertising spend. 
 
In fact, the only thing I would spend less on is myself. (Because, hey, what’s a better gift to yourself than peace of mind in the form of money in the bank?) 
 
So privately, yes, caution. But professionally? Full steam ahead. After all, it’s no fun playing defense. We’re not gonna give up the ball in my store. 
 
Anyway, that’s how I see it. 
 
For some expert opinions on how to weather the uncertainty, check out our lead story on page 108.  
 
Wishing you the very best business… 
David Squires 
[email protected]

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Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

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David Squires

Kick in the Tush

Published

on

Bad economic news can inspire good habits.

 

If I were a jeweler … (cue swirly Brady Bunch dream sequence effect.) If I were a jeweler, I wouldn’t ignore the economic upheaval currently taking place in the United States. But I wouldn’t freak out about it, either. 
 
How would I look at it? As the big kick in the tush that finally got me doing the things I already knew I should be doing.  
 
I’d buy differently. Month by month, even week by week, I’d analyze price points selling in my store. I’d concentrate harder on them. I’d promote them more often in my ads. 
 
I’d sell service and custom design. I’d promote “remixes” of old jewelry. I’d definitely do a let-us-babysit, restore-and/or-redesign-your-heirlooms-while-you’re-on-your-summer-vacation service. 
 
No way would I cut my advertising budget. But I’d cross my fingers and pray that my competitors did. And I’d definitely pull out my guerrilla marketing manual and experiment with low-cost promotional techniques to boost my business even more — while not reducing my current advertising spend. 
 
In fact, the only thing I would spend less on is myself. (Because, hey, what’s a better gift to yourself than peace of mind in the form of money in the bank?) 
 
So privately, yes, caution. But professionally? Full steam ahead. After all, it’s no fun playing defense. We’re not gonna give up the ball in my store. 
 
Anyway, that’s how I see it. 
 
For some expert opinions on how to weather the uncertainty, check out our lead story on page 108.  
 
Wishing you the very best business… 
David Squires 
[email protected]

Advertisement

SPONSORED VIDEO

Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

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