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October 2023
The Top 6 "People" Principles for Jewelry Store Owners
Bill Boyajian
If they’re honest, jewelry store owners will tell you about the mistakes they made with people even while running successful businesses. I’ve worked with a lot of owners, and seen those mistakes rst hand. But rather than focus on the mistakes, I want to share six “people” principles I’ve observed that will help you run your business more ef ciently and effectively.
1) DEFINE YOUR CORE VALUES
Identify what is important to you and communicate those values to your staff, both verbally and in writing. Make those values and your people a vital part of who you are as a company and how you wish to be seen in your community and in the industry. Hold all your associates accountable to the standards you set for customer service and hold co-worker relationships to that same collegiality and comradery.
2) CULTURE TRUMPS ALMOST EVERYTHING
The culture you set for your business is built by ownership and maintained by management. Leadership sets the tone and it is up to managers to hold people accountable to it. Associates want to work for businesses that show care and concern for people, both employees and customers. The result of a good culture is high levels of morale where the vision and brand of the company is unquestioned.
3) THE BEST PEOPLE WANT TO WORK FOR OWNERS WHO ARE GOING SOMEWHERE
If you want to attract and retain great people, you need to show them how they can bene t from the growth and development of your business. In a very tough job market where people are looking for hybrid models in the workplace, you need to show them why working for you is better than the alternatives they may have, which in many cases are signi cant.
4) HIRE SLOW
Insist on multiple interviews with several different people. Diverse personalities see different things in people, and with three or more separate interviews, traits and irregularities often become evident in a candidate. Don’t rely exclusively on “gut” feel. Test for attitude, adaptability, work ethic, and the “can do” and “will do” factors. Contact references, perform background checks and drug testing, and be as selective as you possibly can.
5) FIRE FAST IF NEED BE, BUT NO ONE SHOULD EVER BE SURPRISED TO BE LET GO
Your job as an owner is to help people be better. If they are weak in areas, you have to train or admonish them in those areas. Terminating someone should never be personal. It is about performance, no matter how long they’ve been with you. That performance comes in the form of attitude, motivation, workplace compatibility, sales numbers, core competence in the job, and any number of other factors. When it comes to letting someone go, do what is right for you and for the morale of your entire team.
6) BEING CHEAP CAN ULTIMATELY BE VERY EXPENSIVE
Don’t wait for people to ask for a raise. Be ahead of the game by understanding what it would cost to replace that person in your store. Often an associate leaves that you don’t want to lose, only to nd that you have to pay more to replace that person than what they were making. And it’s not just about the money. It’s the time and effort it takes to replace that person, along with the question of whether that new hire will ultimately work out.
The greatest asset you have in your store is not your products or services. It’s your best people. Take care of them and they will take care of you as a business owner.
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