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Video: Why You Should Get to Know Your Competitors

It’s important to understand what they do well (and poorly).

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AS A JEWELRY-STORE OWNER, you shouldn’t fear your competitors — but you should get to know them, says jewelry store training expert Jimmy DeGroot.

It’s important to know what they do well (and poorly), what products they carry, and how you might work in a complementary way.

In the video below, DeGroot talks about why and how you should find out what other local jewelry stores are up to.

Watch the video:

Video: Why You Should Get to Know Your Competitors

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He Doubled His Sales Goals with Wilkerson

John Matthews, owner of John Michael Matthews Fine Jewelry in Vero Beach, Florida, is a planner. As an IJO member jeweler, he knew he needed an exit strategy if he ever wanted to g the kind of retirement he deserved. He asked around and the answers all seemed to point to one solution: Wilkerson. He talked to Rick Hayes, Wilkerson president, and took his time before making a final decision. He’d heard Wilkerson knew their way around a going out of business sale. But, he says, “he didn’t realize how good it was going to be.” Sales goals were “ambitious,” but even Matthews was pleasantly surprised. “It looks like we’re going to double that.”

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