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Charles Tandy of Radio Shack fame once said, “Your most likely customer is the customer who just bought something from you.” With that in mind, I held weekend events twice a year where customers could come in and retrieve their own auto parts. Twenty dollars would provide my customer with all he could carry. Some…
In 1993, a good friend of mine and fellow auto salvage business owner DL Fitz opened a new location about 60 miles south of his family’s existing locations, near Tacoma, WA. Traffic in the Tacoma area made delivering parts on time very difficult. In response, a new facility at Graham was added to speed deliveries.…
In the mid-eighties, I thought things were moving along pretty well for my business. One of my competitors was a former employee. He was a low-price provider. He bought cheap cars from individuals and sold parts for very low prices. I bought cars at auctions where I had to pay more for them in most…
Last month we talked about marketing vs. advertising. This month, I would like to share a personal example. Here is how my marketing team applied the principles we have been discussing to help make my first book for entrepreneurs a success. We applied the same basic principles of marketing that can work in your business…
How do you promote your company? There is so much noise out there in the form of advertising that you must have a good answer to this question, or you won’t climb above your competitors. If people don’t know about you and your business, you won’t be in a position to be considered when they…
Branding serves to influence a customer’s perception. Doesn’t Mrs. Butterworth’s syrup just taste buttery and gooood? If you bought a Betty Crocker cake mix, wouldn’t you expect it to be moist and pleasing to the palate? That’s branding. Your company name is your brand. It is also your intellectual property. It’s good to understand the…
How you present your image is important to the subliminal imprint on your customers’ memories. Have you got a logo for your firm? How about a standard color theme? If not, it’s time to think about your business image and its overall symbol in the public mind. Say you have a floral shop. Over time,…
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…
When I do consulting work for businesses, I continue to find owners who manage their operations with a fanatical devotion to avoiding taxes. ALL TAXES. I hate taxes, but it’s a mistake to focus so much energy on minimizing taxes that writing the smallest possible check to the IRS becomes the alter upon which larger…
Management Article Dec. 2007 – Building A Team of Top Performers In a prior month, we talked about delegation. My friend DL, and co author of Salvaging Millions, shared a story with me about how his father delegated a task to DL early in his career. When DL first came into management, he was responsible…