We would like to extend an extra special thank you to our partners and customers who have contributed to our blog this year to help us put out valuable information.
Non-Competition Agreements as a Business Strategy
Why would you not want to protect your legitimate business interests, your intellectual property, your customer relationships, and your customer lists? Protecting your livelihood at all costs should be part of your business strategy. Think for the future, and solidify the protection of all that you’ve worked for. There is one specific protection I believe is a must in your business, and that is a non-compete agreement. I would be kept up at night if I didn’t use these contracts. They protect your customer base—the relationships and goodwill developed by an organizationin in terms of customer relations is ultimately what keeps you progressing.
Imagine that you’re a leader in your industry with a great reputation and suddenly, “Poof!” that blue chip list of clients is taken to a competitor by a former manager or employee. Why would you not want to use a non-compete agreement to prevent a former staff member from capitalizing on that goodwill and competing with their original employer? You work for years to build your competitive advantage, and a lot of that could disappear with the termination/resignation of a disgruntled or money-hungry former employee. We believe in this process at Data Age Business Systems. We protect our proprietary software, our intellectual property, and understand that we have a customer list worthy of the blue chip moniker.
When to go Mobile?
There is an app for this, there is an app for that, there is an app for just about anything you can think of. So what happens when the demand for something moves so quickly the supply can’t keep up? No matter what the product is, this will be a problem. In retail, it may mean that orders are not being filled and customer satisfaction goes down. In the service industry, customers are having jobs not being done on time. In Development, it is much worse. When demand for technology reaches a high level, you get products built quickly and without much thought around security. Unfortunately, that is where the mobile app stands now. (more…)
Fluff or Substance; Which One Do You Want from Your Vendor?
When it comes down to your business, the answer to this question should be crystal clear. You rely on your vendor to help you operate your business on a day-to-day basis, during business hours and beyond. There should is no room for fluff when it comes to your point-of-sale software, just substance.
Pay ’em and Play ’em
As I travel across this country touring pawnshops from coast to coast, the most common challenge facing owners is rising inventory levels. Their monthly sales are simply not keeping up with the amount of “pulls”, also known as inventory added through forfeited loans and purchases. The conversation usually begins like this:
Metal Speaks
Sometimes we catch it ….. A client calls. Their shipment is prepared and ready to ship to our company. Weights are discussed. Hedge and advances are discussed… All good, right?
Expansion – Business Observer Volume 2
Simple Holiday Ideas to Increase Foot Traffic
Sometimes the best way to draw shoppers in can be with the simplest events or decorations. Your holiday ideas don’t have to cost a lot of money to build store traffic.
5 Reasons Brands Fail
Here are some of the top reasons brands fail and inevitably see their customers holding the bag and losing money. Make sure your vendors are solid in all of these areas to protect yourself.
3 Steps to Building the Right Commission Structure
You may be wondering “Why do I even need a commission structure for my team,” or “What is the perfect one for my business model”? This is something that we believe very strongly in and that we want to address here today. In fact, we even talk about this in our Pawn Health Check because we feel it is that important. First let’s start with, “Why do I need a commission plan in the first place?”