Independents

Coach’s Corner: Is Your Business Open to Change?

IndependentsMay 06, 2020

Coach’s Corner: Is Your Business Open to Change?

It’s not going to be business as usual when we open up, writes Pat Henneberry, and the jewelry industry will need to adapt.

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Pat Henneberry is president of consulting and sales training company The Jewelry Coach. Reach her at 512-203-3414, or on Facebook, Twitter or LinkedIn.
How can our jewelry industry, which doesn’t adapt to “new” ways easily (trust me, I know this industry), reshape itself in this unknown, scary time? 

How do we adopt new ways of, for example, buying from a vendor, selling to a retail customer, educating our staff and/or attending jewelry shows (or not)?

I would suggest that in order to confront the rapidly evolving world around us, you need to have a system in place to adapt with the changes. 

And you need to be open to change like never before. 

Look for new technologies and be open to new ways of selling and new products that work in this new place in which we find ourselves. 

It’s not going to be business as usual when we “open up,” not for you or your customers. 

You need to ask yourself: How are you going to attract your customers back in your store? 

Your customers have gotten use to virtual meetings, working from home and buying everything online. So, what’s the pull going to be?

It’s no secret the world has been changing before our eyes. Our industry is a global industry and depends on worldwide business. 

So, then, how do you find the best way to handle these changes? To make sure you, and your stores and businesses, can hit any curve balls that come their way?

As a marketing expert, coach and trainer for more than 30 years in the jewelry industry, I’ve witnessed the implementation of many frameworks, brands and sales methodologies to launch new products, expand or simply keep companies afloat during tough times. 

I remember when ArtCarved sold the Keepsake name to Walmart and everyone thought that would kill the diamond business, when the big-box stores were going to take over the mom-and-pop shops and put them all out of business.

There are many more stories and industry events we have all endured. 

What I’ve found is that those who approach their businesses with a rigid system often buckle under the shifting currents. They don’t last. 
But there is one simple thing we can do, and it won’t cost you anything. 

The best way to handle an evolving world in this unprecedented time is with a system built around just that: evolution, being open to new ideas and being flexible.

An agile approach is one designed to keep you limber and able to roll with the tides of 
change so that once the storm is over, you’ll be floating at the top.

Yes, this might seem too simple in such a difficult time.

Trust me, I am presently looking for my next company to work with, and it’s been a challenge. Timing is everything, and now’s not the best time in our industry to be job hunting. It’s tough on everyone!

But there is not one person in our industry who’s not affected by our world right now. I would advise all of us to stay open to new possibilities.

Be ready to move quickly on new ideas; don’t wait for everyone to jump on board.

Be a trend-setter, be flexible and be open to new product.

Before I sign off, I want to leave you with this recap of the words I most want you to remember from this column. I hope they help.

Evolve, be flexible, stay open, pivot (one of my favorite words), be limber, roll with it, and stay agile.

Also, stay creative and open-minded, for new ideas will come from this.

We have been through tough times before. Our industry is going to get through this and rise up, just as we have so many times in the past.

If there is anything I can do for anyone, please email me at pat@pathenneberry.com

Peace and prayers, my friends.
Pat Henneberryis president of consulting and sales training company The Jewelry Coach.

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