6 Ways to Streamline Your Jewelry Business

Any business owner can attest to how busy it is to keep operations running smoothly. Often, business owners wear many hats, which can lead to burnout. If you own or operate a jewelry business and are looking for ways to streamline your operations, here are some great ideas that will let you focus your time on higher-level projects and growth.

Sync Your Inventory

If you have a brick-and-mortar business and an online presence but don’t have an automatic inventory system that keeps track of your sales, you may be wasting valuable time making manual updates. Many jewelers use a jewelry pos system to sync their inventory each time a person makes a purchase, whether it’s in-store or online. This is a great time saver and gives buyers a more accurate representation of the available stock. You’ll also be able to keep track of loss prevention and will be able to easily see when you need to update your inventory.

Automate Scheduling

Do you spend hours creating a schedule for employees each week? Manually scheduling is time consuming, especially during busy seasons when you need to be available elsewhere. Technology has advanced to offer several software programs that will allow you to schedule your employees automatically and give you back precious hours you can use where you’re needed most.

Outsource Advertising

Taking time to develop an ad campaign to promote your business is incredibly time consuming, especially if you don’t have marketing expertise. Many business owners who don’t have time skip advertising altogether, which can have a negative impact on sales and growth. Instead, consider hiring an advertising company to handle your marketing strategy so that you can focus on taking care of customers and planning for future success. Many advertising companies offer affordable packages that allow you to choose the tactics you think will yield the biggest impact, so your dollars go where they make the most sense.

Hire Professionals

Everyone has their own areas of expertise. You may be an expert at running a business, but you may struggle with remembering to do routine maintenance or handiwork around the building. It’s okay to outsource these operations by hiring professionals to handle the tasks you don’t have the time or knowledge to complete. In fact, by hiring competent professionals, you’ll not only save time, but you’ll also save money by bringing in people who will get the job done right the first time. Set up a schedule for routine maintenance so you don’t have to think about when certain areas of the building need serviced. From landscaping to HVAC repair, you’ll be glad that you brought in professionals to take care of these tasks for you.

Track Finances

Do you sit down each month to pay your outstanding bills, balance your budget, and manage other expenses? This can be daunting and time consuming for busy business owners and managers, especially if you don’t have help. There are many different types of software that can help you streamline your finances so you don’t stress out each month when it’s time to pay the bills. Your financial institution may offer automatic bill pay options to ensure you never miss a payment, and there are software systems available to keep payroll organized. You can even automate your tax payments to avoid penalties and give you some peace of mind.

Train and Delegate

When it comes down to it, sometimes you need some extra help managing your operations. Hire and train qualified staff to promote your vision and increase sales. Look for staff who stand out as leaders and offer them an opportunity to assist with other special projects, so you can take a hands-off approach with some of the more minor tasks. Staff who are given more responsibility may feel some ownership in the company and will work harder to help meet sales goals. You may even promote some of the senior staff to managerial positions so that you can delegate certain tasks, such as opening and closing the store or taking care of high-dollar customers.

Consider implementing one or more of these ideas to streamline your operations and free up valuable time. Streamlining your jewelry business can help you stay on track toward meeting your current goals and allow you to focus on future growth.