[Jewelry making - Article 01712] - Re: [Orchid] Are you as talented as a Dentist?

[David Geller]

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    If you've never worked on commission, then you can't really say. And
    if you have and you're slow, then you're slow. 

    In 1986 I was paying $9-$11 an hour for jewelers. That number has
    not a blessed thing to do with sizing a ring. 

    I declared bankruptcy that year. Did $830,000 and $300,000 at
    Christmas. 

    Following summer of 1987 met a watchmaker who was a accountant, he
    showed me how to do commission. I had 5 jewelers, all making about
    $17-$24,000 a year. I changed them on a Monday to 100% commission. On
    Saturday I had 2. 

    The 3 who left knew they were overpaid and the 2 who stayed knew
    they were underpaid. Within 6 months the 2 who stayed ($9-$11 an hour
    men) were making 50% MORE INCOME. 

    Because I fixed my COSTS, the store made money and I withdrew the
    bankruptcy and paid everyone off. 

    1991 put the sales staff on 100% commission. They too were making
    $17-$24,000 a year. Sales went up 45% that year. 

    Sold the store January 2000. Jewelers wages on my commission plan 

    (rounded number)
    $30,000 (he was slow)
    $39,000
    $42,000
    $49,000
    $61,000

    Sales staff made the same money. 

    Under a salary plan you are dependant upon how the boss feels about
    you, your work AND IF THE BOSS HAS ANY MONEY TO PAY YOU. 

    Under commission you make your own lot in life. 

    And those salaries were 7 years ago! 

David Geller
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