Small Business Management: Posh Totty Jewelry

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    • 00:07

      [Small Business Management-- Posh Totty Jewelry]

    • 00:11

      SARAH BRANNIGAN: My name's Sarah Brannigan.I oversee all areas of productionof Posh Totty Designs.I'm the workshop manager. [SARAH BRANNIGAN, Workshop Manager,Posh Totty Designs] My main responsibilitiesare checking orders, delegating orders,making sure everything's running smoothly on a daily basis,and just really working my team, making sureeverything is done correctly and efficiently.Posh Totty Designs is a personalized jewelry company,

    • 00:34

      SARAH BRANNIGAN [continued]: and we specialize in personalizing,and silver goods, gold goods, and really for the customerso they've got a special experience and an heirloom,really.We're in the Posh Totty workshop, and all of the ordersare out on people's benches.

    • 00:54

      SARAH BRANNIGAN [continued]: We check everyday to make sure the order's going out on time,and just to make sure everyone's OK, as well.And if they're managing with the daily work load,it can be really, really busy.But everyone's super duper, and they get it all done.This is our paper order system.All of the orders are kept in each wall bay,

    • 01:15

      SARAH BRANNIGAN [continued]: so depending on what the product is, and if it's a best selleror not, it'll be in different categories.For example, some of our best sellersare always kept at the top, so they're easily accessible.And some of our others are grouped together.And different platforms are kept in different boxes, as well.

    • 01:37

      SARAH BRANNIGAN [continued]: I manage currently 11.Three years ago, when I started at Posh Totty,I managed one person, part time.And at Christmas, the team grew to 21.So it's constantly fluctuating.We have employees and freelancers,so I have to monitor the different skill level, as well.So people managing is a quite difficult thing sometimes.

    • 01:59

      SARAH BRANNIGAN [continued]: It can be very rewarding, as well,when your team has successfully hit their target.And people all have different personalities,so you have to make sure that youdeal with people appropriately, and areneutral at all times, which is really important.Infinity, which that tiny little infinity, mini one,is going for best sister and best friend?

    • 02:18

      SPEAKER 1: Yeah.

    • 02:20

      SARAH BRANNIGAN: Yeah?And then your star one, and P.S. I love you heart.One of my biggest challenges of managing the teamis making sure that you're giving enough to everybody,and they feel that they're getting enough back.So you're training them enough.You're giving that one on one time.You're development them.I feel if you develop a team, and you develop the individual,you're going to get a lot back, and almost

    • 02:42

      SARAH BRANNIGAN [continued]: treating everybody on the individual merits, as well,and making sure you praise, and you nurture, and encouragepeople at all times.My approach really would be to say in a nutshell,if you let people grow, the company will grow itself.If you keep developing people, they'll want to give more to itand invest more of their time.And obviously, with it being a very creative company,

    • 03:03

      SARAH BRANNIGAN [continued]: we need a lot of design input.We need to a lot of energy from people.The hours can be really, really long.At Christmas, we can sometimes work 16 hours.And you can't make people work those excessive hours.They have to want to be there and bepassionate about the brand.And I feel like successfully, we'vegot a really passionate team across the board really,not just a workshop, for the whole of Posh Totty.

    • 03:29

      SARAH BRANNIGAN [continued]: Mostly, orders comes from the various websites--so probably about 80%, 90%.We've recently launched our new shop in the lanes.Well, it's probably a year now, and we have three in Brighton.So we've seen a really interesting lift in sales,actually.And my Posh Totty website, this month,is matching the sales from the shop.So it's really interesting seeing that customers

    • 03:51

      SARAH BRANNIGAN [continued]: are walking into the shop and purchasingthe old traditional way.But generally, it's web orders, and then theyare printed, and then taken through to the workshop.We are looking into a new system,which is paperless, which would be great for the environment.It's actually in production.So we'll all have almost a tablet on our workbench,rather than pieces of paper, so we'll

    • 04:13

      SARAH BRANNIGAN [continued]: be able to access those orders instantly.And I'll delegate them from a main computer, whichwill have all the orders readily available to mefrom different platforms, and I can just zip them overto each jeweler.We record all of the data daily-- how many units

    • 04:33

      SARAH BRANNIGAN [continued]: we sell-- also, what kind of fluctuates within sales.Could it be an event?Could it be Father's Day?Could there just be simply that people preferringrose gold plated items, as opposed to silver?So we monitor all those variables every day, really,and then do a big report every event.Forecasting is really important, because weneed to know what we are aiming to towards

    • 04:56

      SARAH BRANNIGAN [continued]: for sales for busy periods.If we don't forecast, then we wouldn'tbe able to know, make the money really, at those busy periods.So it's essential.I love a spreadsheet, so I'll build a spreadsheet, eitherlooking at units for sale, or sales focus on a product,or the unit price, sort of looking

    • 05:16

      SARAH BRANNIGAN [continued]: at different areas of growth and development,or if we can develop a product and move it on.So we look at also, how our customer reactsto price points, as well-- so if it'sa giftable product at a reasonable price point,then they're more likely to buy it at an event like Christmas.So forecasting is essential, because then yousee all those little pockets and areas that you might not

    • 05:39

      SARAH BRANNIGAN [continued]: have covered throughout the year; just what's performingwell, for example.Different colors of metals might perform betterat different times of the year, depending on the season.So it's all those things are taken into consideration,really.And then we then can produce and buymore metal from our local metal merchant at a higher volume,

    • 06:02

      SARAH BRANNIGAN [continued]: so we get a better price on the productwhen we produce more for Christmas, for example.It's really important to negotiate with the supplies,but also, keep it a realistic level,because they're a business, and they need to function.We need to, as well.So you've got to really keep it at a really humanized level,

    • 06:23

      SARAH BRANNIGAN [continued]: really.We can't demand too much from the supplies.We need to know their limits, constraints, of what theycan do and produce for us.And equally, they need to know that wecan do the same, reciprocally.So we will, after planning for an event, forecasting.We will then approach our metal merchants

    • 06:44

      SARAH BRANNIGAN [continued]: and see if they can deliver what we have demanded.And we can try and have a ballpark figureof what we want to achieve, so that wecan obviously, make profit.And we might spend weeks coming back and forth.But eventually, we come to a nice end level, really.

    • 07:06

      SARAH BRANNIGAN [continued]: When negotiating, we normally lookat what the minimum order quantityis for a particular price.So I will maybe ask what the companycan do for us at so many units.So that would mean then you could say, well,if we produce x amount more, can you drop the price?Because then, they may be getting

    • 07:27

      SARAH BRANNIGAN [continued]: a better rate of sale on the metal that they're using.So it's all about, I think, starting quite low,and then building up, and building up.Obviously, metal prices fluctuate daily, as well,so we need to keep that into consideration.So when we buy and negotiate on a price,we need to action up that day.

    • 07:47

      SARAH BRANNIGAN [continued]: Otherwise, it might change the next day.It could drop, but it could grow massively.So it's really important to monitor the rate each day.My tips would be when negotiating, is justtreat people as you'd want to be treated.And people are humans, and you're justtrying to-- as I've mentioned earlier,it is a reciprocal thing.

    • 08:07

      SARAH BRANNIGAN [continued]: They need to meet their profit margins, as well as you do.And there is no point to go in guns blazing.You've got to make sure that it's a mutual agreement,and you're benefiting, as well as they are, and just treatingpeople with respect, really.The most important things to students

    • 08:28

      SARAH BRANNIGAN [continued]: to think about when wanting to go into managementwould be to master your skills, learn as much as you can,and management will naturally become the next level.If you are good with people, that'sreally important, and aware of other people,and what they expect, and being patient-- that's

    • 08:50

      SARAH BRANNIGAN [continued]: the most fundamental point, I think,is just being good with people, and knowing how to treat peoplewith respect and kindness.I think if people are consideringgoing into business, I would suggest--I can only speak from my experience of dealingwith products, and in a creative field is making sure

    • 09:11

      SARAH BRANNIGAN [continued]: that the project has an end user.Know who you're designing for.Is it sellable?Being able to know how to price your project,and make a profit, and a living--I think that's what's really important.And as I said, knowing the customer,and building your brand identity, as well.

    • 09:32

      SARAH BRANNIGAN [continued]: I do get a lot of pleasure out of it.I've seen a phenomenal growth since I've been here,and it is down to the success of such a wonderful teamand creative team.And I think what's really amazingabout it is Alice allows everyoneto put their input into the company,and she rolls with it, as well.And I think that's how it's grown, really,

    • 09:53

      SARAH BRANNIGAN [continued]: is that everybody's got a lot of ideas.And just the size of the business, the location.We've moved from a tiny, almost boxed room,with a tiny workshop built into it downstairs,to this wonderful office.So for example, I've got 20 benchesin my room, which before, there was one or two.So I think on a scale, as well, visually, it's

    • 10:15

      SARAH BRANNIGAN [continued]: very interesting, how it's grown.And I enjoy that.I wonder what's next.

Small Business Management: Posh Totty Jewelry

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Sarah Brannigan is the manager of the jewelry workshop at Posh Totty Designs. Management of a small to medium-sized enterprise requires the ability to manage personnel, manage space, track retail and online sales and orders, use computers and computer spreadsheets, forecast future sales and required supplies, and negotiate with suppliers.

SAGE Video In Practice
Small Business Management: Posh Totty Jewelry

Sarah Brannigan is the manager of the jewelry workshop at Posh Totty Designs. Management of a small to medium-sized enterprise requires the ability to manage personnel, manage space, track retail and online sales and orders, use computers and computer spreadsheets, forecast future sales and required supplies, and negotiate with suppliers.

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