Headquarters:
N82 W15340 Appleton Ave., Menomonee Falls, WI 53051; five free-standing locations in Brookfield, Greenfield, Menomonee Falls, Appleton and Madison.
Web site:
www.kesslersdiamonds.com
Industry:
Jewelry
Number of employees: 86
Company’s annual revenues:
More than $25 million
Family:
Married to Deborah with four children: Rob, 29; Brian, 26; Monica, 24; and Stacy, 23. Monica is the only family member involved in the business and she works as a sales associate in the Brookfield store.
What was the smartest thing your company did in the past year?
“The smartest thing I did in my business last year was re-focus. I spent a great deal of time working on a new strategic plan which helped me clear the auxiliary activities out of the business and focus our energies where they belong. A business is in business to make a profit, and we more than doubled our profits in 2006.”
What’s new at your company?
“The newest thing in our company is a new product, the Kessler 81 Diamond. This is a diamond like none other in the market. A traditional diamond has 57 facets, it’s been that way for 100 years. The Kessler 81 has 81 perfectly placed facets that return more sparkle than any diamond I have ever seen. This has allowed us to offer a product that is not available at any of our competitors, including the internet.”
Do you plan to hire any additional staff or make any significant capital investments in your company in the next year?
“In terms of future hiring, I am only planning on adding one staff member in 2007. This person will be our hugging coach. I believe we have been remiss in hugging our existing clients. By hugging them, I mean maintaining a relationship with them beyond jewelry. Rewarding our referrers and thanking our clients in ways that are meaningful to them.”
What’s the hottest trend in your industry?
“The hottest trend in the jewelry industry right now is bigger diamonds. Each year, we see the average size of the center diamond in an engagement ring get larger. Right now, the average size is just under 1ct at .90cts. Also, we have watched the trend in metals move from white gold in the 70’s to yellow gold in the 80’s and early 90’s to Platinum and white gold around 2000 and now moving slightly back towards yellow gold. I don’t see an immediate change, but the yellow metal is becoming gradually more popular.”
Do you have a business mantra?
“I don’t have a mantra, but my core values run very deep. I want to build long-lasting, mutually beneficial relationships with my employees, clients and vendors by treating them the way I want to by treated.”
From a business standpoint, who do you look up to?
“I have a few business people that I look up to, starting with Anthony Robbins, who taught me that anything is possible; TV Lenny who took the smallest appliance retail store and turned it into the largest in the state. And Jack Stack, the author of “The Great Game of Business,” who taught me how to practice open book management by sharing all the information with the employees and also share the profits with them as well. Last year, we distributed $475,000 to 86 employees through our growth share bonus.”
What was the best advice you ever received?
“The best advice I ever received was from my father, who taught me that what goes around, comes around. “
