That Which You Measure Will Improve

Please Support and Thank our Sponsors:

That Which You Measure Will Improve

Too often, owners, managers, and salespeople in the jewelry, furniture, and pawn industries make decisions based on opinions instead of facts. Unfortunately, opinions don’t grow businesses—numbers do.

The difference between struggling stores and consistently profitable ones often comes down to one thing: they know their numbers.

The only way to react to facts instead of assumptions is to track the right statistics. Yet many stores either track the wrong numbers—or don’t track enough of them to make meaningful decisions.

Let’s walk through a very real scenario.

Your store is trending down ten percent. Where do you start?

First, look at traffic.
Are as many customers walking through your door as last year?

• If traffic is down, the issue isn’t your sales team—it’s opportunity.
  A jewelry store may need stronger social media presence or event marketing.
  A furniture store might need better advertising or showroom visibility.
  A pawn shop may need to increase community awareness or digital outreach.

No customers = no sales. It’s that simple.

If traffic is the same or better, move to the next metric: closing ratio.
Are your people selling the same percentage of customers?

• If closing ratio is down, now you have a sales performance issue.
  In a jewelry store, are associates asking enough questions before showing product?
  In furniture, are they building value before discussing price?
  In pawn, are they explaining product quality and overcoming trust barriers?

This is where training, coaching, and accountability make the difference.

If closing ratio is steady or improving, move to average sale.

Are your team members maximizing each opportunity?

• In jewelry, are they suggesting warranties, upgrades, or complementary pieces?
• In furniture, are they adding protection plans, accessories, or entire room packages?
• In pawn, are they trading customers up, bundling items, or reinforcing value?

If average sale is down, it’s often a combination of poor add-on selling, lack of product knowledge, or even carrying the wrong merchandise.

Here’s the key:
Somewhere within traffic, closing ratio, or average sale, the truth always exists.

Find it—and you’ll stop guessing and start fixing.

Now, let’s flip it.

What if your sales are increasing?

Most businesses celebrate… and move on. That’s a mistake.

You must identify why:

• Did traffic increase because of a promotion?
• Did closing improve due to better sales conversations?
• Did average sale rise because of stronger add-on selling?

When you understand the “why,” you can repeat it, scale it, and grow even faster.

This concept applies across your entire operation:

• Too much aged jewelry or stale inventory? Track how often it’s shown versus sold.
• Furniture not moving? Track which pieces are being skipped in presentations.
• Pawn inventory sitting too long? Track turn rates and pricing adjustments.
• Want more add-ons? Track units per sale and hold your team accountable.

Here’s the powerful truth:

What gets measured gets improved.

The moment you start tracking something, your awareness increases. Your team pays attention. Behavior changes. Results follow.

In our industries, it’s easy to blame the economy, competition, or price shoppers. But the stores that win don’t guess—they measure, they understand, and they act.

If you want to improve any part of your business, attach a number to it and track it daily.

Because you can’t fix what you don’t measure…
and you can’t grow what you don’t understand.

Be sure to go to https://principlesforbusinessandlife.com/ – click on Our Viewpoint Newsletter and read an article titled:
an interesting Article Sunday Evening – By Joe Morrone

Give Your Staff The Tools They Need To Be Successful!

On Sale For 1/2 Price

The Train The Trainer Course –

Includes the Complete PMSA Retail Sales Training Program &

The Complete Retail Sales Management Training Program!

Normally $995

Now Only $495 includes shipping

Go To www.princplesforbusinessandlife.com

Click On Training Tools to

place your order

Have your staff subscribe to the Munchies Newsletter and please pass this along to others within your circle of influence.