Editor's Note

To Succeed in Business, You Need Both Advice and Inspiration

Luckily, our May issue includes both.

Published

2 weeks ago

April 22, 2024

Trace Shelton

IF YOU HAD to pick one, which would you seek out: advice or inspiration? Advice could provide that next genius idea you need to elevate your business, while inspiration can challenge and invigorate you. Tough question, right?

Luckily, it’s just rhetorical. You’ll find both right here in this issue.

For inspiration, our lead story profiles a short list of people doing marvelous things on behalf of jewelry retailers and others working in our industry.

From sharing best practices with their peers to campaigning for social justice to pushing technological boundaries to keeping each other safe, we think you’ll agree that these uplifting stories could inspire even the most jaded reader.

And when it comes to advice, our second lead story by Eileen McClelland delivers strategies for making the most of your vendor relationships, particularly at trade shows. (And if you’re a wholesaler or manufacturer reading this, we’ve got some advice for you, too, from our readers.)

As for the rest of the issue, don’t miss the inspiring stories of Rachel Scholan of Diamonds Direct (Best Of The Best, p. 86), Lilly Beaulieu Mullen of Springer’s Jewelers (Cool Stores, p. 104) and Beau Maville of Dutille’s Jewelry Design Studio (Get Inspired, p. 114), as well as tips from our stable of experts (and even more online at instoremag.com).

By the time you’ve finished reading, I hope you’re recharged, educated and ready to take your business to new heights!

Now Introducing The INSTORE Show, Coming to the Chicago Area in 2023!

Trace Shelton

Editor-in-Chief, INSTORE
trace@smartworkmedia.com

Five Smart Tips You’ll Find in This Issue

1. With the pace of work slowing, now’s a good time to hold a staff appreciation event. (Manager’s To-Do, p. 38)

2. Use trade shows to talk to your vendors about overall strategy. Buying and stock balancing should be weekly or daily work. (The Big Story, p. 70)

3. When hiring a new salesperson, ask them to share a story. Good storytellers are worth their weight in gold. (Tip Sheet, p. 88)

4. Surprise team members by calling them into your office for a casual chat, not to address a problem, but simply to acknowledge their hard work. (Megan Crabtree, p. 95)

5. Host live jewelry styling sessions with experts at your store on TikTok and Instagram. (Emmanuel Raheb, p. 96)

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”