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Season’s Greetings

2015 has been an extraordinary year.  More changes in our industry.  More consolidation.  A few old players leaving – a few new players entering the market.

When I thought about this article, I thought about what I wrote at the same time last year.  And I really think that what I said last Christmas could be equally applied to this one.  So at the risk of being repetitive, here it comes again.

You might recall that last year I sat down with a few associates over lunch – some of them were jewellers, some were from the fashion industry and a couple were general retailers.  I did exactly the same thing this year and here’s a summary of the 5 things that we came up with to get you working smarter, not harder in 2016:

1. Make a list!  It sounds simple, but so many people forget that it’s always best to measure twice and cut once!  Spend some time to set out exactly what you want to achieve in 2016.  Be realistic.  If your aim is to focus on your jewellery store’s branding then make that the focus – don’t lose focus by attempting to do too many new things in the year.  Remember that 2017 is only 12 months away!  After you’ve made the list, give yourself some time to consider the list – a little bit of time to ponder your grand plan for the year ahead is always time well spent.

2. Get other people to work for you.  You don’t have to do everything yourself.  Utilise the benefits of outsourcing.  Companies like Palloys can help you make “your” jewellery, without you having to leave the comfort of your showroom!

3. Learn the power of saying no!  Sometimes the best thing you can do is to learn to say no to customers or business associates that are time and cost vampires.  It’s hard – especially when business is as tough as it is today.  But believe me, you’ll thank yourself afterwards.  And the spare time that you gain can be spent on getting better customers through your door.

4. Partner with people who have the capacity to help you.  Business relationships are two way streets.  Make your life easier by partnering with suppliers who can help your business grow.  I always tell my team that the Pallion mantra is to offer superior quality product, good old fashioned service and fair credit terms because these things can only make our clients’ lives easier.

5. Stick to the knitting.  Avoid being everything to everyone.  Pick your niche and be the best in that niche.

5 things to think about in 2016.

Let’s make it a great one!  My best wishes to you all for a happy, healthy and prosperous 2016.

Written by
Andrew Cochineas
Chief Executive Officer