After rambling about the industry in parts 1-3, let’s examine how you as an owner can ramp up for the sale of your business. First, the value of the company must be assessed. The goal is to determine the value of the real estate and the business, and ultimately, the asking price. Beyond the real … Read more
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
How do we constantly improve if we are dealing with the same downtime and repairs day after day? You need to sit down and decide what is more important, that extra load or making sure your equipment will run another day successfully. Has there been any issues today that need attention, have we made the … Read more
The used parts business is a bit different in how we operate than a lot of other businesses. With that being said, there is a lot about our businesses that are the same as every other business in every other industry. One of those commonalities is in the hiring of people being problematic. Why are … Read more
You have heard me say this in many articles that I have written, “Today is the Day, we need Build Sheet Data, and All Parts Data to be able to sell a more correct and safer part.” There are many more parts on today’s vehicle than ever. Over 40 percent of today’s vehicle is electronic, … Read more
It always starts and ends with management. ]Being a great owner and manager is the rarest of people. Many owners have an understanding of their core products, but far less understand the business of business. There are many reasons for this in business. It is especially true of startups. If you do an internet search … Read more
Have you ever listened to your customers? Probably. Digging deeper, I must ask if you’ve ever asked them how you’re really doing? Sometimes hearing the truth can hurt, but it can also help. So far, it’s been a great week. Having just finished speaking at Volvo of Memphis, located in Memphis, Tennessee. I discovered that … Read more