LEARNING If you’re in Vegas for the JCK shows, take in as many educational shows as you can with a goal to kick some life into big-ticket diamond sales. The wedding and anniversary seasons are on their way. Be sure to take home some fresh approaches to try this year.
Cash Flow “I run a P&L and balance sheet weekly, as well as a cash needs forecast; it helps to understand how your business is trending and catch problems before they hurt your business.”
OPERATIONS It’s warming up outside and your staff’s thoughts are turning to their vacations. Set an ambitious store target for Father’s Day (June 17) with the promise of a day’s paid leave for everyone in August if the team achieves the goal.
MERCHANDISING Create fashion jewelry islands around the store to highlight that costume jewelry you got in for the summer months.
TAX Tax filing requirements are a major headache for small business owners. Stay on top of your obligations by signing up for the IRS’s tax calendar at tax.gov/calendar. Unlike the agency, it’s user-friendly.
SECURITY Do a mid-year review of threats and areas of vulnerability, including a test of your store’s motion-detection system.
WEBSITE Does your website have a favicon — the little icon that appears next to the URL in a web browser — like Facebook’s blue “F”? It’s a small but noticeable professional touch that’s not too hard to do yourself. Create your 16-by-16 pixel square masterpiece, name it favicon.ico, and place it in your web server directory. Bam, you’re looking better already!
ADVERTISING Father’s Day is done. Your ads and website should shift to get male customers thinking about buying anniversary presents.
MERCHANDISING Has a customer ever asked you what your store’s name is as she is writing a check? You may need to boost name recognition. Start with a few nice signs in your cases, and then check your other collateral (jewelry pads, store sign, etc.).
SALES Meeting topic: Discuss how to improve customer service. Brainstorm the top 20 reasons why a customer should buy from your store.
TECHNOLOGY It’s time for some computer housecleaning. Get that desktop down to no more than a dozen folders or shortcuts. Set up new filters to take care of any new newsletters you may have signed up for in the last year or so.
MANAGEMENT Set yourself a target of reading one business book a month for the next quarter. Some of our favorite bestsellers: The Captain Class by Sam Walker, If You’re In A Dogfight, Become A Cat by Leonard Sherman, and Stealing Fire by Steven Kotler and Jamie Wheal.
ONLINE Slow season means experiment season. Try a social media auction. Choose a nice piece and an even nicer starting price with all bids to be posted as a comment and in $5 increments. Set an end date and time and watch the excitement build.
This article originally appeared in the June 2018 edition of INSTORE.