Feb. 4-10
TECHNOLOGY Showcase popular Valentine items on your homepage, with a special emphasis on items that are exclusive to your store. You may even want to create a dedicated gallery that will show all your V-Day items on one page.
SALES FLOOR If you hand out roses to customers, buy them this week. Roses bought from a florist won’t start to wilt for at least five to seven days if they’re properly cared for (a night in water helps). Prices for roses, however, will most definitely spike — often by as much as double — as Valentine’s Day nears.
FINANCES If your fiscal year ends in December, you should have your financial statements finalized by Feb. 29. Make an appointment to see your CPA.
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Feb. 11-17
DISPLAY Write a “designer profile” for each designer you carry. Put on “cue cards” left near the appropriate line of merchandise.
DATA SECURITY It’s the time of year to back up all customer and store data and other important files. (Most small business networks can be backed up to a single external hard drive.)
MARKETING In the wake of Valentine’s Day, things start to slow. Identify your top customers and make yearlong plans targeting them. Have your sales staff research what, when and how their best 15 (or more) customers buy. Use this information to target their needs and deliver better and more personalized service. Input this information in your customer management database.
Feb. 18-24
FINANCES If you haven’t updated your props and fixtures for five years or longer, they’re sure to be showing their age. Amortize and depreciate fixtures and props as you do other equipment. Set a budget and schedules to acquire new fixtures and props routinely. Elements should be discarded at the first sign of overuse. To a consumer, faded, frayed, or dirty elements speak volumes about a store and affect perception of its brand.
EDUCATION This is a good time to broaden your business and gemological skills. Check out what courses GIA and JA are offering. Can you send your jeweler somewhere to sharpen their skills?
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Feb. 25-Mar. 2
STRATEGY Embark on a strategic review. Look at what your competitors are doing and learn from them, both the good and the bad. Visit their stores and websites, subscribe to their newsletters, and assign someone on staff to clip or screenshot every one of their ads (not just specialist jewelers), and create a scrapbook. With such knowledge, you’ll be able identify what areas to compete in and how to differentiate your store in your ads.
LEGAL Get your legal ducks in a row for 2024. If you don’t already have one, contact your attorney — or hire one — for a template “cease and desist” letter you can have ready to go if a disgruntled former employee or customer begins to unfairly bash you on social media.