Creative Jewelry Industry Solutions
Are You Running Your Business Tactically or Strategically?
Strategy is often a misunderstood and misused term. Most people would say that they have a Merchandising Strategy. However, filling in top sellers or having an Open to Buy is not a Merchandising Strategy. Strategy looks to the long term future, while tactics address short term problems. Tactical actions might be necessary to stay afloat, but Strategic actions are the ones that ensure a thriving future.
Tactical Actions:
- Buying gold and selling bead jewelry
- Focusing only on daily, weekly, monthly goals
- Hoping that once the economy comes back everything will go back to the way it was
Strategic Actions:
- Identifying a demographic of clients you don’t currently service, marketing to them, bringing specific product in that they want, and identifying the metrics that will determine success
- Consciously choosing to reduce segments or product categories of your business, and to grow others
Let me help you develop a Merchandising Strategic Plan customized for your company’s needs. A carefully crafted Plan will deliver revenue growth, profits and secure your competitive advantage. It goes well beyond a business plan, by defining the actions and resources needed to implement the Plan successfully. It is the difference between having a vague idea where something is, or using GPS to get there.
