I use even the smallest bits of time. I’m such a fanatic about it that I have been known to talk on my cell phone while using the men’s room. Though that may seem funny, I do it because I feel compelled to use every minute wisely. Another way that I maximize every minute is … Read more
We’ve been discussing passion as it relates to success in business in the last few months. How would you define passion and how does passion relate to the persevering attitude necessary for lasting success? The key question: What motivates us as businesspeople? If we are working only for money, we are working for the wrong … Read more
Last month we talked about passion, and how being passionate can make being in business more rewarding than any job ever could be! An enduring passion for the work on the part of the owners, managers, and employees makes a huge difference in the level of success of any business. When business is good, being … Read more
Today’s sacrifice is tomorrow’s gain. We’ve all heard that a hundred times. It’s a cliché. You have to sacrifice today for a bigger tomorrow. How does it apply to your current situation? Do you really want to do what you’re doing? Do you REALLY want to do it? If you just want a job, go … Read more
I understand the implications of environmental issues, but it sounds like some recyclers believe that their business is suffering as a result. Their position is that because government officials enforce environmental laws in a lax way many yards choose to operate illegally. These illegal operators have lower costs because they do not have the added … Read more
This is the second part of a two part article written by AutoSalvage.com Consultant Tammy Sturgeon. In the first part, Tammy described the sudden passing of her mother and shared some thoughts on how to cope with losing someone vital in business or someone who is a vital part of your family. If you missed … Read more
This thoughtful, two-part article was written by Tammy Sturgeon. Recently I lost my mother to a lung disease that we had never heard of. She passed 2 ½ weeks after her diagnosis. Before her diagnosis, she was a vibrant, healthy 68 year-old woman. As most of you know, I grew up in this business–my father … Read more
You want positive sales signs or signals in your customer area. You want the customer to feel he’s going to get fair treatment every time he comes in. As a manager, you should be asking yourself how to serve your customer better the next time he stops. That’s giving him recognition. You are giving your … Read more
You should know by now whether the achievement of significant success is a true desire in your heart. Do you want it badly enough to make the necessary sacrifices? I’ve shown you some of what it takes. I’ve shown you what I think has made the difference for me. My next question requires a personal … Read more
Do your customers really care whether or not your operation is efficient? Maybe they do; maybe they don’t. They really care more about the product they’ve bought from you, whether it’s a good product or not, or perhaps its price. They also care a great deal about how they were serviced. Whether your customer walks … Read more
My comments here are very philosophical general in nature, but because I get so many inquiries on this topic, I thought it might be good to discuss it. I have been hired many times to help determine the value of a yard (not including real estate), in cases ranging from contract disputes, tax cases, condemnations, … Read more
This is a three-part article. Check the last two-month’s issues for parts one and two, or visit our web site. Last month we talked about Purchasing and Performance Pay. This month we will talk about Employees and Financial Metrics. Employees – Average your last three months net sales and divide that amount by $20,000. This … Read more
This is a three part article, check last month’s issue for part one. Last month we talked about systems. This month we will discuss Purchasing and Performance Pay. Purchasing – You need a yard management system with a bid pad or you need a yard management system and a stand-alone bid pad to purchase by … Read more
Since this is a three part article, please watch for the remaining portions over the next two months. As I travel internationally consulting, I continue to come across the same problems time and time again. The biggest problems I see are (in no particular sequence): 1. A total lack of or very poor systems in … Read more
Did you know you can use Google, to watch for articles of interest, using keywords in most media, including newspapers, magazines and of course the web? Google will search for your key words and email you the results daily. Try using your name, or LKQ, or auto recycling. There is information every day! As you … Read more
Last month, I discussed the components of an effective campaign, this month I will give you tips on how to differentiate yourself from your competition. Charles Tandy (of Tandy Corp fame) once said, “The most likely person to buy something from you is the person that just bought something from you.” We spend an inordinate … Read more
So many folks ask me to help them with marketing and advertising when I do a consulting assignment. Historically, most recyclers don’t spend enough of their revenue on advertising (I recommend at least 1-2%) because they have had bad results and don’t know what to do. I am always amazed when I see sponsorships of … Read more
We have tried to be retail, wholesale, and everything in between. We have tried to handle too many parts on too many types of vehicles. We think that anyone that drives a used car must be our prospect. Although this might have been ok 10 years ago, when we had 25% cost of goods, and … Read more
Do you look for excuses to work less? Do you ever complain about how much money you’re making? Last month, we talked about two entrepreneurs, and what was different about them and their success. (You can find last month’s article at www.autosalvageconsultant.com, or email me; I will send it to you) Across town, another business … Read more
Do you look for excuses to work less? Do you ever complain about how much money you’re making? Joe is a small business owner. He complains that he has to make more because his checks are not large enough to pay his bills. Yet whenever the mood strikes, he leaves work and goes off to … Read more
Just about everyone in America comes across a little money at some time or another. I always say that such events likely don’t happen more than five or six times in a lifetime. They might win a lottery; they might inherit a sum; they might cash in some old stock that was passed on to … Read more
I get so many calls from folks who insist that their only problem is that they need more money. Read my lips: “If your only problem is that you need more money, then you don’t have any problems.” This is true in almost all the cases I have seen. Trust me: there is PLENTY of … Read more
Last month I discussed clearly defined structure. However, it does no good if you never follow up to ensure that those expectations are met. Always be fair. If your employees are going to have bonus plans, give them the bonus plans and clearly inform them how they are going to be measured. Do this as … Read more
My company had the reputation of being structured and disciplined. I set guidelines and stood by them. I set goals and strove to reach them. I’ve had employees tell me that they were intimidated at first when they considered coming to work for me because they were unsure about the “rules” thing. Auto dismantlers don’t … Read more
A Strong Work Ethic How many of you have a competitor who takes off every day? He’s earned the privilege. Right? Maybe. But what does that do for his employee relations? I believe that productive employees expect the owner to have a strong work ethic. Significant success doesn’t come from escape, procrastination or total delegation. … Read more
I’ve just returned from speaking at the Saskatchewan Recycler Conference, where it was cold! It was four below zero. (OK, it was Centigrade!) They were gracious hosts, and most of the Canadian recyclers who attended the conference are doing very well. After my remarks, usually one or more of attendees will come up and want … Read more
I am constantly amazed at the skills people exhibit when looking for a job. Now, I understand that it’s not something you do every week and maybe I should be more sympathetic, since I haven’t done it but once in my life when I got a job as a bag boy in high school.. I … Read more