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Tip Sheet

Tip Sheet: October 2004

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Instore presents ideas for better business

[componentheading]NAME TAGS ARE IMPORTANT[/componentheading]

It’s networking season. Which means it’s the perfect time to invest a few bucks in a custom-made name tag that will let prospects know — at a glance — what you do. Example: a bright red heart tag, that reads: “Bringing Love To Johnson County” (insert your town or county name here). People will actually cross the room to see what your tag says, giving you a great opportunity to introduce your business.

Source: Mary Gillen; Idea Site For Business

[componentheading]OWN UP TO MISTAKES[/componentheading]

Have you ever screwed up, big-time? As a storeowner, it’s time to step up and take responsiblity. One way to handle it is to do what Doug Bergum, founder and CEO of Great Plains Software, did. During one of his company’s annual conferences, he walked up on stage and discussed in great detail a mistake he had made. He then proceeded to smash three fresh eggs on his forehead.

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Source: Bob Nelson; I,001 Ways To Energize Employees

[componentheading]DON’T FORGET THE EYES[/componentheading]

Keep in mind that a smile originates in two places — the mouth and the eyes. Give your customers a mouth-only version, and it looks like your smile was pasted on. It’s like saying “Cheese!” for a photographer. But your eyes are the true window to your soul. If you can’t muster a convincing smile, practice in front of a mirror until you get it right.

Source: Paul R. Timm, 50 Powerful Ideas You Can Use To Keep Your Customers

[componentheading]PRAISE, PUNISHMENT[/componentheading]

We all know that employees are more motivated by positive feedback than negative feedback. But we never knew before what was the proper ratio for parceling out praise and punishment. Turns out the optimum ratio is five positive comments to every negative one. But don’t overdo it: increasing the ratio to 13 positive comments to every negative one does more harm than good.

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Source: Tom Rath and Donald Clifton, How Full Is Your Bucket?

[span class=note]This story is from the October 2004 edition of INSTORE[/span]

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Wilkerson Testimonials

When It’s Time for Something New, Call Wilkerson

Fifty-four years is a long time to stay in one place. So, when Cindy Skatell-Dacus, owner of Skatell’s Custom Jewelers in Greenville, SC decided to move on to life’s next adventure, she called Wilkerson. “I’d seen their ads in the trade magazines for years,’ she says, before hiring them to run her store’s GOB sale. It was such a great experience, Skatell-Dacus says it didn’t even seem like a sale was taking place. Does she have some advice for others thinking of a liquidation or GOB sale? Three words, she says: “Wilkerson. Wilkerson. Wilkerson.”

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Tip Sheet

How to Engage Clients in Conversation, Being More Productive, and More Tips for October

It’s also a good idea to hold store sales prior to December.

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HUMAN RESOURCESBonuses? Let them Eat Cake

Bonus season is on the way in many parts of the country. If that includes your business, something to think about: When unequal rewards are given out, there will be less dissatisfaction if they aren’t actually countable, says Kellogg Management professor Neal Roese. Research showed people who received less cake than counterparts weren’t as dissatisfied as those receiving less cash, focusing more on what they received rather than what they didn’t, he writes in Kellogg Insights.

Video: How to Ask for Referrals Without Being Too Pushy
Jimmy Degroot

Video: How to Ask for Referrals Without Being Too Pushy

Video: How to Get People to Buy Jewelry From You Now Instead of ‘Someday’
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Video: How to Get People to Buy Jewelry From You Now Instead of ‘Someday’

Webinar: Sell Silver Like an Expert: Tips and Marketing Tricks for Making This Your Best Silver Selling Season
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Webinar: Sell Silver Like an Expert: Tips and Marketing Tricks for Making This Your Best Silver Selling Season

SALESFlip the Script

Instead of asking your customers small-talk questions, such as “How’s work?” or “How are you?” try big talk, says Judi Holler, author of Fear Is My Homeboy and a speaker at the recent Jewelers of America National Convention. She recommends questions such as, “Are you working on anything exciting lately?” or “What was the highlight of your day?” It will make you memorable to your customer. You’ll engage your customer more personally and learn something new, too.

PROMOTIONSAvoid December Sales

Don’t plan a big sale for December, says Deric Metzger, owner of DeMer Jewelry in Carlsbad, CA. Customers have depleted their holiday funds by then and you’ll have no time to complete a custom order should you get one. His advice? Get in early. “We offer our final sale of the year in October (and advertise it as such) to give people a jump on the holiday season,” he says. “It relieves the stress of the last-minute rush for them and us. Plus it eliminates most of the haggle-over-every-dollar attitude that frantic shoppers seem to get the closer it gets to the end of the year.”

EXPERIENCECreate a Virtual Storefront

Include a photo of your storefront on your website, along with text-based directions. It makes it easier for shoppers to find your store and eases threshold resistance, participants at the recent Stuller Bridge Conference heard.

PERSONALRekindle the Joy

Do one thing every day that you loved as a kid. “This is usually the fuel that can power your life,” writes entrepreneur and business author James Altucher on his blog.

PRODUCTIVITYThe Decision Hour

Once a week, spend an hour making choices. A lot of things masquerading as “things you have to work on” are really decisions you need to make, notes Steve Chandler in his book Time Warrior. Many can be made instantaneously; the notion that you need to gather more information is often an avoidance technique. Make it a game: challenge yourself to make as many decisions as you can in an hour, and see how many items you can nuke from your list. It’s weirdly energizing, he says.

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Tip Sheet

How to Sell More ‘Spa Treatments’ for Jewelry, and More Tips for September

Millennial shoppers respond to education, privacy and transparency.

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TIME MANAGEMENTAim for Busy, Not Rushed

How should you strive to feel when working? Busy, but not rushed. Research undertaken by the University of Maryland found this is when people are happiest. And when you’re happiest — meaning engaged and in the flow as opposed to giddy with joy — you invariably do your best work. So, start creating realistic schedules, stop checking email every 15 minutes, take breaks to exercise, and stop letting other people set your deadlines (yes, you could finish the job by tomorrow, but Friday is best for everyone.)

MARKETINGA Time for Pampering

One of the key challenges at this time of the year is how to get customers in the door. The Gem Collection in Tallahassee, FL, does it with a “Spa Treatment” for rings. The treatment, which is recommended annually, includes inspection of stones by hand, ultrasonic cleaning, steaming of the stones to remove excess dirt, refinishing to remove scratches, polishing the ring, and for white gold jewelry, a rhodium finishing, all for one price. “The spa treatment name was used so that the customer feels as if their jewelry is being pampered instead of worked on,” explains co-owner Don Vodicka. “This has raised our repair sales and keeps our customers very happy.”

MARKETINgShout It in Brass

If you buy your diamonds from Antwerp, it’s always a good idea to let the world know about it. Molinelli’s Jewelers in Pocatello, ID, actually has it in brass letters on their wall.

SALESLaying on a Bridal FeasT

Showcases — who needs them? That’s the diamond-selling approach at Siegel’s Jewelry in Paso Robles, CA, where customers are encouraged to sit with staff at a custom-made, long community table to discuss jewelry. “I designed my store with a lot of seating space in order to show diamonds effectively, and to make my employees and customers more comfortable,” explains owner Ken Siegel.

STRATEGY“How” is the Enemy

Something all true entrepreneurs know: “How” is the enemy. “We always want to know how things will happen,” says Claudia Azula, a popular podcaster and co-author of the Power Of No. “But how is the enemy because it blocks the possibilities that open up when we are willing to not know. When you don’t know about tomorrow, all you can do is focus on doing your best today.” Stop thinking, Just go do it.

SALESKeep Me Safe and Prosperous

Buy an engagement ring at Eichhorn Jewelry in Decatur, IN, and you also get a “Keep Me” — an original document that travels with the piece of jewelry. The paper “encourages customers to spend dollars by emphasizing the legacy aspect of their purchase,” explains owner Eileen Eichhorn.

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Saving the Boring Jobs for the Office, Watching TV with Purpose and More Tips for July

Plus, how to use questions to make yourself a better listener.

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personalDo Down Time With Purpose

Approach this summer with more purpose, recommends Greg McKeown, writing in the Harvard Business Review. “That means if you decide to watch TV, really watch it. If you are having a meal, take the time to enjoy the meal.” Of course it also means making a choice: do you want to spend your summer downtime in front of the tube? We’re going to hazard a guess the answer is no. Go schedule some activities that ensure you fully recuperate this summer.

EVENTSMake It Light-Hearted

Orin Jewelers in Northville, MI, understands that at its heart, shopping for jewelry should be a joyful experience. To support that message, it tries to add a lighthearted touch to city events by doing something fun in the store, say owners Orin and Tina Mazzoni. “Example: when a citywide ban was put on serving wine/drinks to women at the annual Girls’ Night Out, we all dressed as if it were the Prohibition and served root beer and sparkling wine.” How does your fun game compare?

LEARNINGUp Your Reading Game

Want to read more? Try what serial entrepreneur and business author James Altucher does and read about 30 pages of five books each day. Given the average American reads about 250 words a minute, or about a page a minute, that’s two-and-a-half hours. Don’t have that much time? How about 25 pages of three books? That’s little more time than it takes to watch an episode of The Real Housewives Of New Jersey.

PRODUCTIVITYHome Is Where The Creativity Is

Here’s a neat rule to get the most out of your work day (for people in a position to pull it off, meaning business owners): Do creative work at home and boring work, where you may need some compulsion, at the office. According to a report in the Wall Street Journal, researchers found that when it came to creative tasks, people were 11 percent to 20 percent more productive outside the lab. For rote and repetitive tasks, however, they were 6 to 10 percent less productive when not in a formal work environment.

SALESIs That So?

In The Patterson Principles Of Selling, Jeffrey Gitomer suggests training yourself to be a better listener by asking a question at the end of your customers’ statements. If you make your own statement, it’s possible you are interrupting. But if you ask a question, you almost have to wait until they’re finished speaking.

SERVICEDon’t Band-Aid A Gunshot Wound

When it comes to repairs, it often pays to look beyond the customer’s specific request, says Bruce Goodheart of Goodheart’s Jewelry in Overland, KS. “Don’t fix one prong when there are 20 other prongs you need to re-tip. You don’t need the headache, and it will show how professional you are. You have a reputation to uphold, and you can’t put a Band-Aid on a gunshot wound.”

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