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Manager's To Do

Sales Incentives, Website Tips and More Manager’s To-Do Items for June

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June 3-9

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.

June 10-16

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.

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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!

June 17-23

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.

June 24-30

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.

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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.

Over the years, INSTORE has won 76 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Manager's To Do

Capitalizing on Valentine’s Engagement Sales, March Madness and More March To-Dos

Your managerial planning for the month starts here.

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Mar. 3-9

BUDGETING Time to get started on making a budget for the 2019 buying season and get ready to trade in old inventory for new inventory. Also, if possible, have an inventory reduction sale to get rid of the dated inventory before going to Vegas.

SALES FLOOR Beware the ex-brides of March! Divorce filings are highest this month. Do you have a script ready explaining why the resale value of an engagement ring may not meet the customer’s expectations? If not, get busy.

Video: How to Hire the Best People for Your Jewelry Store
Jimmy Degroot

Video: How to Hire the Best People for Your Jewelry Store

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should
Jim Ackerman

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store
Jimmy Degroot

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store

MARKETING Remember all those clients who bought engagement rings in advance of Valentine’s Day? Call to see what their plans are for wedding bands.

Mar. 10-16

MERCHANDISE It’s March. Embrace the madness. The NCAA Men’s Basketball Finals starts on March 17 and runs through to April 8. It’s a great chance to clear out old inventory with a quick Sheer Madness Sale! At the very least, organize a pool for staff.

SHOWROOM Is your custom area as friendly as it could be? Does it feature a gallery highlighting past designs, portraits of satisfied customers, updated displays, appropriate lighting, a signature scent?

Mar. 17-23

MARKETING Hold a Prom Dress Party. Encourage girls to bring their dresses into the store and try on jewelry with the dress. Identify pieces to excite them at prices that will entice a sale (that means jewelry with a big look for less money).

MERCHANDISING Pull out your promotional calendar and view it from the perspective of using the events to manage and reduce specific inventory. Annual customer appreciation sales, trunk shows, open houses, and repair/jewelry remodeling events can all give your finances an even greater boost if you execute them with a view to moving certain items.

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MANAGEMENT Download a time tracker to your phone and start logging how you spend your work life — not because there’s much value in the record you create, but because the very act of recording can have a powerful psychological impact, leading you to use your time much more efficiently. (Warning: Brace yourself to be alarmed at how you fritter away time.)

Mar. 24-30

SHOWROOM In one analysis of a university building in Oregon, workers on the greenery-facing side took 19 percent fewer sick days. It apparently has to do with how we evolved to function best in nature-rich settings. If you can’t knock a side wall out to provide a view of the glorious outdoors, buy a few potted plants to place around your sales floor.

PERSONAL Take an inventory of your tech use and evaluate each item for its usefulness, working on the assumption that if something can’t justify itself, it’s out. Exit the social networks you barely use and get rid of the apps that, when you think about it, have no benefit. Yep, that means Candy Crush may have to go.

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Day of Unplugging, Near Miss Day and More Important March Dates

Don’t miss your chance to have a parade for Mardi Gras.

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20 There’s a reason the Hare Krishnas hand out flowers before soliciting donations — the awesome hold reciprocity has over humans. The psychologist Robert Cialdini notes in his bestseller Influence that we’re so deeply primed to reciprocate generosity that customers who receive a free gift become far more likely to make a purchase “in return.” Since it’s spring, take a tip from the Hare Krishnas and hand out fresh flowers to customers.

Video: How to Hire the Best People for Your Jewelry Store
Jimmy Degroot

Video: How to Hire the Best People for Your Jewelry Store

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should
Jim Ackerman

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store
Jimmy Degroot

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store

4 Day of Unplugging. The challenge: 24 hours without phone or Internet contact. Can you do it? The benefits are said to be surprising.

5 Celebrate Mardi Gras with a bead party. Cook up some red beans and rice, stick on some music and have yourself a parade.

23 Thirty years ago, a mountain-sized asteroid passed within 500,000 miles of Earth — a very, very close call according to NASA. Luckily, we survived and Near Miss Day was born. In thanks, dig up one of your or your sales associate’s recent “near misses” and debate what may have saved the sale. A lower price? More romance? Bruce Willis?

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Single Tasking Day, Red Carpet Season and More Big Dates for February

The essential jeweler’s calendar for the month starts here.

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4 With more than two billion users, you need to be sure you’ve fully explored the potential of Facebook. On the 15th Anniversary of Facebook’s Launch by Mark Zuckerberg and three friends, adopt the company’s motto, “Move Fast and Break Things,” and commit to shaking things up with your social media marketing. Test some sponsored posts. Get absurdly specific with your targeting. Try a contest. Try more video. Follow INSTORE’s Facebook page at facebook.com/instoremag.

Podcast: How Can Jewelry Stores Stop Losing Their Best Employees?
JimmyCast

Podcast: How Can Jewelry Stores Stop Losing Their Best Employees?

Podcast: A One of a Kind Family Heirloom is ‘Vaporized’ … and a Jeweler Goes Above and Beyond to Replace It
Over the Counter

Podcast: A One of a Kind Family Heirloom is ‘Vaporized’ … and a Jeweler Goes Above and Beyond to Replace It

Podcast: Using Social Media to Win Customers and Lower Your Intimidation Factor
JimmyCast

Podcast: Using Social Media to Win Customers and Lower Your Intimidation Factor

10 Red-carpet season rolls on with The Grammys today and The Academy Awards on Feb. 25. Slip into fashion-maven mode and get your customers excited about jewelry’s cutting-edge trends with tweets, snaps, posts and blogs.

14 Love with a touch of panic is one way to look at Valentine’s Day. And not just for the guys. If you need ideas, go to instoremag.com and test out our archive search.

22 On Single Tasking Day, let your brain do what it’s been designed so beautifully to handle — focus on one thing at a time: one conversation, one meal, one task, one baseball game.

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