It’s my intention to write about the “How Money Works” book because I wanted to thank lots of you who have ordered the book and either have given copies away to friends and family or have asked for copies for your teams. While listed for $16.95 plus shipping on Amazon we have sold over a … Read more Two Books That Give Direction During These Times
CREATING NEW HABITS WHILE SHEDDING OLD HABITS IS CRITICAL TO BUSINESS AND TAKATA AIRBAGS Creatures of Habit We all know about Bad Habits because we tell ourselves that we will change some of them in our New Year Resolutions. Some of us are successful at stopping bad habits but it usually doesn’t happen without starting … Read more Heard About the 21/90 Rule?
Few things cause changes as rapidly as crises. For the most part in our lives, things start down a path we maintain a certain sense of inertia. This is often true of business relationships, partnerships, customers, vendors in that they tend to stay unchanged until certain inflection points. I think we can all agree that … Read more Service Under Pressure
You finally made the switch from selling your converters by the piece to selling them on assay. And you have found, like most of us have, that it is totally worth it. Your average cat sale is up 5-45% depending on how you were being treated by your buyer. Now you are in the real … Read more Converter Recycling: Five Big Problems with Assay
Those of you who know me well can recall when I lived in a mobile home. I wasn’t broke, but I wasn’t rich. But, even back then, I like to think I was never too cheap. Yes, I can remember having a pole truck to pull engines and move cars around, and I can recollect … Read more Being Cheap is Unlikely to Make You Really Rich (And it’s a Crummy way to Live)
I would like to talk about the future role of commission-based salespeople in the auto recycling industry. One of the byproducts of the COVID-19 pandemic is how it has accelerated the shift to internet/e-commerce purchases. With the advances in information and technology that we have, anyone can find almost anything online in short order. There … Read more Endangered Species: The Commission Based Salesperson in Automotive Recycling
Chapter two of my book How to Salvage Millions from Your Small Business discusses this month’s topic. Bigger can be better, but many times it simply isn’t. First, you have to make several decisions: Do you really want to be bigger, with the commensurate problems? Are you willing to tolerate more mediocrity that will inevitably … Read more Is Bigger Really Better?
The Experts Weigh In Recently, I had the privilege of moderating and participating in a global webinar regarding the auto catalyst value chain. Some of the analysts, refiners, and fellow processors that I respect most were on the panel. Dr. Jonathan Butler, Head of Business Development for Mitsubishi Corporation, kicked off the webinar with an … Read more Auto Catalyst Value Chain: COVID-19 & Beyond
History When the Takata Airbag Recovery Program launched in 2015, our IT Department swung into action to create software for recyclers to process airbags. However, they recognized that there were customers enrolled in CorePro submitting cores and airbags, and recyclers who only wanted to process their airbags. So two logins were put on the same … Read more Bye Bye Guest Login — Hello CorePro for Recalls
I know that with COVID-19 going on, a lot of us are spending more time online. I have heard from several customers that online sales have really been picking up for them the last couple months. I thought that I would share some of my tips on social media for auto recyclers. 1. Never post … Read more Theresa’s Top 5 Tips on Social Media
Do me a favor, please! I am asking all recyclers to refer to this unpresented time as the “New Normal”. I really dislike using the word “abnormal” because what we are going through right now is not abnormal. However, it is the future. Our customer base is telling us that this is “Amazon Time” because … Read more Let’s Cal it the “New Normal”
Man alive, if ever there was a global stress test, surely this is it! How healthy are you? How healthy is your business? How secure is your job? How stable are your customers? At different points, we have all had to consider these questions from a variety of lenses without the benefit of past data … Read more Have you Passed Your COVID Test?
YOU GET WHAT YOU PAY FOR I started in this business back in 1973 and like the saying goes, if you live long enough, you pretty much will see and hear everything. In May of 1983, I left my former employer of seven years to come to work as a salesperson here at Northlake. I … Read more Employees: The Good, The Bad & The Ugly
I continue to hear from folks who say their business is tougher than it has ever been. I always chuckle when I hear from a recycler that business in his area is off, after I’ve just spoken with another recycler in the same area who is having record sales and/or profits. How can this be? … Read more My Business is Down, What do I do?
With the surge of online-virtual meetings comes a need to review our communication skills. When the novelty of the first live virtual meeting is over, most of us would agree that while helpful, it might not have been the most productive time spent. This technology is not going away anytime soon, so it is best … Read more Productive Communication Skills for Virtual Meetings
Finding Time for What’s Important This is a time of incredible uncertainty. With limited work crews in many recycling facilities, having the manpower and finding time to process cars is a challenge. Keeping the company books in order is equally important so that you can make a contingency plan for varying volumes. It can be … Read more Converter Recycling: COVID-19 Challenges and Solutions
Creating a Climate for Potential Leaders You will not grow your company unless you are able to grow people. Even if you are to go into the marketplace to hire an experienced manager/leader you will still need to provide a climate and culture that allows them to grow into their new position. The author John … Read more Leadership & Growth
Life, as we have known it, has come to a screeching halt because of an invisible threat. We can’t see it! But we surely can see the effects of what it’s done. Thousands of people have been infected and thousands have lost their battle against it. As if they haven’t already been involved enough in … Read more Are You a Butterfly?
Lead battery recycling is one of the biggest success stories of our generation. Ninety-nine percent of all lead batteries manufactured are recycled to make into new batteries. All elements of the lead battery can be recycled, including the sulfuric acid. The same cannot be said about other battery chemistries. Though some other batteries like Nickel … Read more Not All Batteries can be Recycled the Same Way
Whether you are a small business owner, a fortune 500 company, or the average working person, this is the question that you are now pondering. This has hit us fast and hit us hard, and the bad thing is that we are really not sure when it will end. Also when this is over what … Read more What Will the new Normal Be?
To our valued customers, With the coronavirus (COVID-19) affecting communities, families, and people around the world, this is a difficult time for all of us. Our hearts go out to all those who have been affected. At Car-Part.com, our priority is the health and well-being of our employees and customers. We have taken several steps … Read more Covid 19 Relief
Let’s look at current practices in place at the Salvage Auctions we attend. Vehicles are put up for auction on the sale date. Now, these auctions are live, online-only. You can, of course, preview these vehicles before the sale, but you have a limited amount of time to do so. Who are the buyers at … Read more SOLD to the Highest Bidder…Maybe!
The COVID-19 Pandemic will surely go down as the biggest crisis in our lifetime. We all remember the housing crisis in 2008 and 911 in 2001. Most people are not aware, but we had a banking crisis in Rhode Island during the early 90s where the Governor closed forty-five credit unions and banks creating runs … Read more Crisis and Opportunity: Your Time to Shine — Leadership in Good & Bad Times
Ever since I came to work at Car-Part.com, I have had this debate at least once a week with a recycler. The recycler tells me the MANY reasons they can’t or won’t put prices online. Trust me, I have heard them all! Let me tell you an example that I use in one of the … Read more $CALL = NO Call: Should YOU put Your Prices Online?
I know many of you are reeling from the current crisis caused by Coronavirus. I hope that you have taken these two steps: Apply for your PPP Loan through your bank This is quite easy and I have spoken to many operators who have already gotten checks. Apply for your SBA Disaster Assistance loan … Read more Coronavirus — Is it Going to Put You Out of Business?
I am working on this article in March in the midst of the Coronavirus outbreak. I hope that by the time this reaches you, things have gotten better. My thoughts and prayers are with you and your families as they always are, and as such, I promised to give an electric car update in the … Read more Electric Vehicle Update
For the past several months, America has been experiencing eye-opening financial burdens because of a virus threat they can’t see. During strange and unnerving times such as these, Americans always step up to trudge forward. We’re resilient no matter what comes our way. That brings me to what my friend within another industry requested from … Read more Don’t Panic, Be Prudent
What your company needs the most is optimistic leadership. As the owner or manager your staff are looking for someone to provide them with direction. There is so much negative thought in the mainstream media and on social media that positive words need to be spoken into your staff. This negativity is deadly on the … Read more Sales Counters That Pay Are Critical in a Time Such as This
A Historical Perspective Nearly thirty years ago I started my career as a Customer Service Representative at Putman Investments in Boston. The Gulf War was in full swing. Like life in the time of COVID-19, the world was on shifting sand. In handling calls, we were trained to calm investors’ fears and remind them that … Read more Converter Recycling: Playing the Long Game
ClearSpan Structures has quickly adjusted their manufacturing facility to provide governments, medical centers and communities with rapidly deployable disaster response structures and medical buildings. ClearSpan is now able to ship these buildings in fewer than 24 hours, and because of this quick turn around, the company already has buildings being used to respond to the … Read more ClearSpan Reacts to COVID-19 with Disaster Response Structures
The first article in this series listed more than 25 tactics to increase your business success, all of them based on my experience. I started with nothing and didn’t get to college, so I know you can achieve maximum success, regardless of your education. E-mail me to get the first article (or any of the … Read more Ask for the Sale
Last week, I had two recyclers, who read this column, go online, and order the book, How Money Works, Stop Being a Sucker, which was written by Steve Siebold and Tom Mathews. Though small, the book is great, packed with valuable information for all ages, and an easy read. They paid $16.99 for each book, … Read more How Money Works
The good news for our Auto Scrap and Shredder customers is that they are not encumbered with “parts inventory” issues. Vehicles arrive at your facility and trigger a very systematic process to minimize labor while maximizing profit on the vehicles journey to the baler or shredder. Our Takata Airbag Recovery Program fits best at the … Read more Be a Lifesaver
Close the knowledge gap: get your salespeople to qualify customers more effectively to improve close rates and generate more sales revenue. Having trained hundreds of salespeople in the recycling industry, and after listening to thousands of hours of recorded sales interactions, I’ve encountered a symptom that is as prevalent with new salespeople as it is … Read more Make Sure Your Sales Team Knows Why They Are Qualifying
Conventional or traditional advertising for most recyclers, including print and direct mail, has declined in value and ceded ground to the web for most recyclers. The other advertising mistake I see businesses, including recyclers, making is trying to build a brand or just making sure that prospects are seeing their name out in the marketplace. … Read more The Ability to Build a Brand is Dead. START SELLING!
I recently attended a research study on reuse and recycling of batteries in electric vehicles on November 7th and 8th at Argonne National Laboratories in Lemont, Illinois. Delanne Bernier and I were there to make a presentation and represent ARA at this event, which was called the “Recell” Conference. This was a well-attended event by … Read more HEV BATTERIES: A Shock to the System
NEW “RECALL CART” SIMILAR TO COREPRO WITHOUT CORES Our Technology Department here at RAS deserves a lot of credit for the success of the Recall Program. Kudos to Dave, Don, Tom, Deb, and Michael for all that they do. You don’t see their faces at the trade shows, but their knowledge and expertise are visible … Read more Maximizing Bounty for Full Service Recyclers
Many industries and associations help students with scholarships, but I am happy to report that the caring folks at URG are not surpassed by other industries. In 2020, URG will be awarding $40,000 dollars’ worth of scholarships. You heard me right! $40,000 in 2020. Other associations that I’ve been a part of will offer much … Read more URG is Awarding $40,000 in Scholarships
We live in a time with access to more inventory, information and options to products than ever before. The Recycled Original Equipment space is no different. The impact has been felt across all areas of our business from the acquisition of inventory to pricing or listing to efficiently fulfilling demand. Because of this phenomenon, many … Read more Becoming Indispensable
What is a successful leader? My definition, which is likely different from those of many others, is one that is well liked by all his stakeholders in his business world and loved by those in his personal world. He or she has proven the ability, maybe even multiple times, to “bring home the bacon”, build … Read more 13 Traits of the Best Successful Leaders
Look at the title of this article. How Money Works will be the title of my talks for 2020. I’m already booked for the upcoming URG training conference in St. Louis at the Arch. For that conference, which is being held at the Hyatt Regency, you should bring your team to experience this premier event … Read more How Money Works
You are Rock Stars. When I write these monthly columns, I know my audience. I realize you are recyclers who mainly sell parts and steel. But in the past 10 years something truly amazing has happened. You have become some of the savviest business people I know. You are not sitting at the parts counter … Read more What do Flash Boys, Wall Street, and Cat Sales have in Common?
The Takata Airbag Recall has presented challenges and opportunities to Auto Recyclers. In the beginning, most Recyclers were not eager to jump in. Anytime you introduce a new concept, it takes time to formulate procedures, educate people, and identify the “Why” of the program. The “Why” is different for everyone. Many Recyclers see the opportunity … Read more VIN Expansion
As life continues to evolve and technology becomes a part of our everyday lives, so too is the Salvage Yard industry changing and evolving. With this change comes great fear of the unknown and the notion that the old ways are better than the new. Gone are the days of traveling across the country to … Read more Out With the Old, in With the New
It’s easy to say, but harder to execute. Twenty years have passed since I wrote my first consulting article, but I see it over and over: folks who are trying to get rich fast. If you are young and are reading this article, you really do have a lot of time, but you need to … Read more Get Rich Slowly: It Doesn’t Happen by Accident
I recently received a book as a Christmas gift from Mike James of James Environmental and eComply. Every year without fail, Mike uses a book at his annual employee retreat. In the past, he used the book, Who Moved My Cheese. Phenomenal book. This year he chose a book by Eric Harvey, Leadership Secrets of … Read more Leadership Skills That Santa Believes In
Holidays are indeed a time of reflection and gratitude. Here at RAS, we are humbled by the efforts of the industry to rally behind #YANKTHATBAG and produce our best results ever! We are all blessed to be part of such a great industry where our competitors are also partners. Relationships stand the test of time, … Read more 2019 Air Bag Recall Wrap-Up
Greetings, friends! As we get ready to start 2020 (yikes!) I wanted to share something I learned in 2019 that might help you in the new year. It wasn’t a big, impactful event, but I think it can teach us all about how we can react in business and in life. I traveled quite a … Read more The Power of Action
I know that a lot of you are going to think that I am crazy when I tell you my top five tips for January 2020. Some of them are so simple, YOU may not believe that other people are not doing these simple steps. On the other hand, I have been to some businesses … Read more Back to The Basics
You will harvest what you sow. The thing about a business, a field or a garden is that to get what you want to grow there you have to do quite a bit of work. At this time of the year you most likely are doing a review of how this year went. You have … Read more What You Plant Now, You Will Harvest Later