Manager's To Do

Review Unfulfilled Wish Lists, Set A Charity Budget and More To-Do Tasks for January

That one thing you’ve been putting off because you were busy during the holidays? Take care of that too.

Published

1 year ago

November 17, 2022

INSTORE Staff Instore December 2022 Issue

Jan 1-7

INVENTORY Review unfulfilled wish lists to check the age of the items. If a year or older, call up the client and offer them a discount.

LEARNING EXPERIENCE Budget for a monthly education stipend for employees. It could be spent on online courses, reading materials, or resources for sales and gemological credentials.

STORE DECORATIONS The last symbols of winter should have been banished the day after Christmas. It may still be freezing outside, but inside you want your customers thinking of spring. Order in fresh flowers.

Jan 8-14

INVENTORY It’s time for a task most jewelers dread: physical inventory. Scan every item with your POS software. Check with your insurer to ensure your inventory is current with what’s listed on your policy.

SHOP The new year is the perfect time to raise your repair prices to reflect changing metals prices, inflation, and the money you’ve probably been leaving on the table.

OPERATIONS That one thing you’ve been putting off because you were busy during the holidays? Take care of it this week.

FINANCIAL Take a few moments to plan your 2023 charity budget, which can save you time (and guilt) later. Let your staff vote on how to allocate all or some of it within the community.

Jan 15-21

STAFF Take each employee for a bite to eat to talk about their year. Ask them: How’s your job? How’s your life? What do you need from me this year? Keep in mind that usually what good salespeople want is the opportunity to be effective.

MERCHANDISING Decorate your store for Valentine’s Day. Scatter some cupids in your cases, a few touches of red and pink here and there. Aim for fun, not schlocky. While you’re thinking of displays, chart a year’s worth of window case displays.

DISPLAY Select a prominent case as your Designer of the Month case. Make it a scheduled event (note it in your website calendar) and kick off the first day of each month with coffee or champagne for customers. Let designers know they will be featured and see if they can add extra pieces to your collection.

Jan 22-27

MANAGEMENT Lay out a calendar of blackout dates for vacations. These can include days assigned for in-store events, holidays, and other dates when you need everyone present. “It is important to provide this in January to let your team know you are aware they have lives outside of work,” says Megan Crabtree, CEO of Crabtree Consulting.

MANAGEMENT What was the last business experiment you ran? Can you do an A/B test, like BOGO versus 50 percent off? A “Sell it or we scrap it” estate sale? Test and learn!

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INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”