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Recycling Article – November 2003 – Mystery Shopper Want to know more about how your salespeople are performing? Use a mystery shopper. CAUTION: don’t utilize this article if you have high blood pressure. You are going to be amazed, flabbergasted, and downright upset by what you find. Most large cities have professional firms that specialize…
Recycling Article – October 2003 – Inventory Turns You simply must spend more time understanding inventory turns and cost of goods. (I don’t mean cost of cars.) One of my good friends, Gary McKinney, a new car dealer, taught me to focus on turns first, margins last. If you are analyzing a return on something…
Recycling Article – September 2003 – Free Advertising! I know, I know, you don’t have much money for advertising. But… surely you are interested in it if it’s free? Don’t underestimate the value of press releases for your business. In fact, you should set a goal of issuing one by-monthly, no less than 4 times…
Salvaging Millions Management Article – August 2003 – Protect Your Credit! Your credit is so important. I grew my business using credit, as I didn’t have my own money. That was scary, but recently the biggest threat to my credit is others. That’s right: others. I was recently the victim of an attempted identity theft.…
Recycling Article – July 2003 – Passion as a Management Style? Passion – where did it go? Many folks I talk to say, “It’s just not fun anymore.” That can be the case. But where did that competitive spirit go? I think business is just as much fun, but the bar has certainly been raised.…
Recycling Article – June 2003 Announcing Free Monthly Recyclers Management eNewsletter This month I am pleased to announce that beginning in June I will send via email a monthly Auto Recycling Management eNewsletter to those recyclers and other interested parties who request it. I will endeavor to share my latest observations on the business climate,…
Recycling Article – May 2003 Salespersons – Lordy, Lordy, Where Do I Get A Good One? It’s the same old story: how do we find good salespeople? First, let’s take a SWAG (sophisticated wild ass guess) at defining what a good one is. The following is a rough list of the attributes of acceptable staff…
Recycling story – April, 2003 War And The Economy – And My Business Is Down First, I want to thank the Greater Midwest Automotive Recyclers Expo for being a wonderful host. I just returned from speaking at their convention in Kansas City where I met many old friends. I continue to hear from folks who…
Recycling story – March 2003 Know Your Banker! In my book, I devoted an entire chapter to banking relationships. When I started out in business, with one employee in a 10’ x 20’ portable building, which was financed, I quickly learned that I would have to use someone else’s money to grow my business. (Since…
Recycling story – February 2003 Are the costs of your inventory increasing? It seems that everyone who consults with me has concerns about his increasing cost of salvage. Most folks aren’t computing their monthly cost of goods sold (COGS) properly; so they don’t see this problem right away, although they do see one problem. They…