Connect with us

Tip Sheet

Tip Sheet: March 2013

Published

on

Tips: March 2013

Fresh ideas to better your business.

BY THE INSTORE TEAM
Published in the March 2013 issue

OPERATIONS

TURN IT OFF
Define clear stopping points at the end of the day, so when you’re with your family and friends, you’re really with them, advises Tony Schwartz, author and CEO of the Energy Project.

TOSS IT
A spring project: Streamline your working life. Throw out all the stuff from storage under the showcases, says Ruth Mellergaard, principal at interior design firm GRID/3.

Advertisement

REASON #22 TO SHED FAT
As if you didn’t already know it’d be a good idea to lose some weight, now this: a new study says those extra pounds are making you look less “leaderly.” “Executives with larger waistlines and higher bodymass- index readings tend to be perceived as less effective in the workplace, both in performance and interpersonal relationships,” reports the Wall Street Journal, according to a study by the Center for Creative Leadership.

GENERAL

MENTION THE COMPETITION
When applying for a business loan at a bank, it’s important to show that you have a thorough knowledge of the industry and have spent time thinking about the competitive landscape, says celebrated entrepreneur Richard Branson. Writing in Business Review Weekly, he says: “If a bank or other investor is looking at your business, then they’ve probably looked at your competitors as well. Show you understand your competition and irreverently explain why your business will do better. Don’t be overly negative. At best you’ll seem humorless and self-important and at worst like you don’t take your competitors seriously enough.”

 SPEAK, WAIT, LISTEN
Just about everybody believes they need to improve their speaking skills. Yet just about nobody wants to do the one thing that can help them improve fastest: to listen to recordings of their voices. Christy Fletcher, a spokesperson for QVC, advises you use this trick: Don’t play the recording back immediately. “You must allow time to separate yourself from whatever you have recorded, so you can be more objective,” she says in a column for eHow. “Record something. Wait a day. Then listen to your voice.” 5 Avert Advert Avoidance 4.6 billion. That’s how many times American’s voluntarily chose to watch online video advertising last year. The secret of course to be entertaining (and include a cat if possible). In addition, video campaigns that build suspense (like those launched prior to the Super Bowl) generated 600 percent more views in 2012.

MANAGEMENT

 INSECURE? YOU DECIDE
It’s true, be a critical boss and your staff will think more highly of your expertise, be it jewelry or store management. But they are also more likely to leave your employ and are less likely to suggest improvements even when they know what could improve an area of business. That’s the conclusion of The Knowing- Doing Gap, a book by Jeff Pfeffer and Bob Sutton that cites reams of research. Their advice if this is an issue at your store: Stop being so insecure.

 GOODBYE, POOR PERFORMERS
As a professional trainer, Harry Friedman fervently believes in people’s potential to improve, but even he doesn’t think you should invest the time needed to turn a lump of coal into a diamond. “If you are a poor performer and we train you, all you are is a trained poor performer. If you have a smile on your face and love in your heart, you are going to sell some jewelry. That doesn’t make you a good performer. I don’t waste my time with these people. They should be good from Day One.” Let your poor performers go, he says.

 PROVIDE REGULAR, CONSISTENT FEEDBACK
To be effective, feedback needs to be specific, actionable and timely. But that’s not always how it works. In a study by Leadership IQ, 53 percent of employees said that when their bosses praised them, the feedback didn’t provide enough useful information to help them repeat what they’d done well. And 65 percent said that when they were criticized for poor performance, the review didn’t provide enough useful information to help them correct the issue.

Advertisement

Advertisement

SPONSORED VIDEO

Gene the Jeweler

When Gene the Jeweler Speaks, His Employees Listen

In this episode of Jimmy DeGroot’s Gene the Jeweler series, Gene has a simple request for his employees. The good news is that they follow his instructions. The bad news is that they follow a bit too literally.

Promoted Headlines

Tip Sheet

Make Sure You’re Part of Your Charitable Giving, And More Tips for May

You’ll get to meet more people and feel better about your involvement.

mm

Published

on

CUSTOMER SERVICEIn the Kid’s Corner

Adults needn’t be the only ones who view jewelry stores as houses of goodies. In addition to its well-appointed kids’ corner, Renaissance Fine Jewelry in Brattleboro, VT, provides customers’ children with gift-wrapped presents to make them feel special, too. “They will remember the stuffed animal or the funky handbag they got at Renaissance Fine Jewelry,” says owner Caitlyn Wilkinson.

PERSONAL Go Gray

Worried your relationship with your phone is less than healthy? Switch your display from color to grayscale, recommends Catherine Price in her book How To Break Up With Your Phone. (This is apparently so threatening to phone makers’ addiction business model, it’s hidden five levels deep on the iPhone: go to Settings > General > Accessibility > Display Accommodations > Color Filters.) Instantly, your phone is vastly duller. Try it for a day.

CHARITY Sell On Site

When you’re asked to donate to local charities, make sure to choose only events that allow you to personally participate, says Dianna Rae High of Dianna Rae Jewelry in Lafayette, LA. This way, you’re building relationships, rather than just donating an item to sit on a silent auction table. For example, when the local ballet asked High to sponsor their annual event, she paid the sponsorship fee and asked if she could set up a small table of jewelry for sale with a percentage of sales going to the ballet. “The women loved it, we sold a lot of jewelry, I met new people, and the ballet received more than if I had just paid the sponsorship,” High says.

STRATEGY Good Citizens

If you refer to potential customers as “prospects” or “targets,” Seth Godin urges you to stop and instead call them “citizens.” His argument is based on the view that the conventional marketing terms don’t reflect the way power has shifted in the marketplace. “Citizens are no longer the weak, isolated pre-consumers in front of a TV set in 1971, with few options. Now, they appear to be holding all the cards. It sounds a bit pretentious, but then, so do most terms marketers use.” You can’t help but become a little more humble and respectful, Godin says, when you use this term.

TIME MANAGEMENTLeave the Mess for Now

If you typically feel the urge to straighten your desk before you can start on meaningful work, The Guardian’s Oliver Burkeman suggests a simple rule: reschedule. “If your job permits it, schedule a daily deck-clearing hour — but at 4.30 p.m., not 9 a.m.,” he says. “It’s time to abandon the secret pride we procrastinators feel in having completed 25 small tasks by 10 a.m.; if they’re not the right tasks, that’s not really something to be proud of.” Instead, Burkeman recommends the timeworn advice to work on your most important project for the first hour of each workday.

MANAGEMENTMore Donuts

Want to add some fun to your store? Take a tip from Sherrie’s Jewelry Box in Tigard, OR, where “you’re never late to work if you bring donuts,” owner Sherrie Devaney says.

Continue Reading

Tip Sheet

How to Become an Idea Machine, and More Tips for April

One tip involves a jeweler who allowed a client to pour his own gold.

mm

Published

on

Strategy Be an Idea Machine

Write down 10 ideas a day. “Do it for six straight months and see what happens. It actually turns into a super power,” says serial entrepreneur and author James Altucher. To collect his ideas, Altucher buys 1,000 waiter’s pads at a time from restaurant supplies websites (10 cents a pad). “They’re great for meetings because I have to keep concise lists, and they’re always good conversation starters.”

Podcast: When Is It Time to Let an Underperforming Employee Go?
JimmyCast

Podcast: When Is It Time to Let an Underperforming Employee Go?

Podcast: This Advertising Copywriter’s Last Minute Pitch Changed <em><noscript><img src=
Over the Counter

Podcast: This Advertising Copywriter’s Last Minute Pitch Changed Everything

Podcast: Millennial Gem Trader Dave Bindra Steps Into ‘The Barb Wire’
The Barb Wire

Podcast: Millennial Gem Trader Dave Bindra Steps Into ‘The Barb Wire’

Management We Are Family

Leitzels’ Jewelry in Myerstown and Hershey, PA, has a cool rule to reinforce the store’s culture: Every day, each team at both its stores must include a Leitzel family member. “We take pride in every aspect of the business and build relationships. It is easy to overlook how cool it is to be a family-owned and operated business,” says third-generation co-owner Allison Leitzel-Williams.

Customer service Pour It On

The trend of customers wanting to be intimately involved in the creation of a piece of jewelry can be considered either an annoyance or an opportunity. Collins Jewelers in Dallas, GA, opts for the latter view, starting with taking the customer out to lunch to go over their renderings and then involving them in every step of production. “One customer wanted to pour his own gold, so we made that possible and he was ecstatic,” says owner Marty Collins.

Productivity Take an Unwanted Break

According to a recent Columbia University study, the key to getting the most out of work breaks is to stop even when you don’t feel like it. “Participants who didn’t step away from a task at regular intervals were more likely to write ‘new’ ideas that were very similar to the last one they had written,” the authors explained in Harvard Business Review. So, “if you’re hesitant to break away because you feel that you’re on a roll, be mindful that it might be a false impression.” It’s notable, too, that the “break” in each case merely involved switching tasks. A change, it seems, really is as good as a rest.

Community Show Your Spirit

Communion season, which often takes place after Easter to around Mother’s Day, can be a nice opportunity for a jewelry retailer that is involved deeply in its community. Orin Jewelers in Northville, MI, is one such business, sponsoring a host of activities in support of groups from USA Hockey to the local hospital. They also sponsor, as well as make custom jewelry for, the Catholic high schools in their area.

Management Bad News First

When you’re delivering good and bad news to employees, always give the bad news first, says Daniel Pink, bestselling author of When: The Scientific Secrets of Perfect Timing. Pink acknowledges this often feels counterintuitive, as many bosses hope that by starting out positively, they will cushion the bad stuff. “The reason has to do with endings. Given the choice, human beings prefer endings that elevate, that have a rising sequence rather than a declining sequence,” he says.

Continue Reading

Tip Sheet

The Best Question to Ask Job Candidates and More Tips for March

Don’t miss “the right-hand close.”

mm

Published

on

SecurityBeware Social Thieves

Going to Basel? Beware of who you tell, what you post, and how you move. “Skilled gangs of robbers monitor social networks, and, based on information that the exhibitors post, the robbers have attacked, robbed and even burglarized hotel rooms that the exhibitors were staying at,” Itay Hendel, CEO of Israel-based ISPS, which specializes in theft prevention for the jewelry industry, says in a statement.

ManagementWill Do, Not to Do

When making your daily to-do list, don’t pick 20 things you hope to do and that you think will add up to one day’s work: you’ll overestimate your capacities. Instead, pick the three or four most important things and really commit to doing them, even if you think they’ll take you only a couple of hours, suggests Luciano Passuello at litemind.com.

ShowroomSign Language

When you go to a jewelry show, you ask your vendors what’s new, right? Of course you do. Consultant Larry B. Johnson, author of The Complete Guide to Effective Jewelry Display, says the best way to draw customer interest from regular clients is to put a whiteboard on an easel (total cost: $79) just inside your door with all of your new products written on it.

SalesThe Right-Hand Close

Owners are uniquely placed to provide a blessing to close a sale, but knowing when to intervene can be tricky. The sales associates at Linnea Jewelers in La Grange, IL, signal such situations by shifting the piece to their right hand (a technique recommended by sales trainer Shane Decker). Owner Denise Oros will then step in to provide the reassurance that’s often needed with a line such as “Great choice! I got that stone, pearl, etc. in Tucson, it is a one-of-a-kind, she will love it! You really have an eye for the finer things.”

PersonalKeep Vacations Short

There seems to be a belief that a “proper” vacation requires at least a week off. But as the American psychologist Thomas Gilovich told the Boston Globe recently, “If you have to sacrifice how long your vacation is versus how intense it is, you want shorter and more intense.” That’s because we remember and judge our experiences, whether good or bad, not in their entirety, but according to how they felt at their emotional peak and at the end.

HiringAsk How They Prepared

Anand Sanwal, the CEO and co-founder of fast-growing tech company CB Insights, has an interesting take on the best question to ask a job candidate: “Tell me how you prepared for this interview.” Not only does the reply likely reveal a lot about how the person’s commitment to the position — do they care? — but it will hint at their work ethic and their analytical capabilities, he says.

Continue Reading

Most Popular