Consistency, consistency, consistency… Let’s face it, customer satisfaction is what it is all about in business. Your customers are your business and your life. Over the years we have learned and grown in this area. In the five years I have been with Data Age we have focused all our energies to ensure the customer satisfaction levels and experience were top notch. Successful businesses have to also have an open mind, broad shoulders and willingess to hear things that are not great about their business. We have done just that and appreciate the feedback given to us. We view this feedback as an opportunity to get better. This continues today when customer satisfaction and brand loyalty is at an all-time high. (more…)
This phrase has been around for years but really became a catch phrase during the dot-com boom and then bust. During this time period companies were racing to gain market share and market position. Companies that were over promising had one goal in mind… “How do we increase valuation for Wall Street to drive a mega dollar acquisition.”
Even in 2017 there is still some of this approach lingering . This is all fine and dandy for the vendor but for the customer, it meant being told what they wanted to hear to ensure another month’s worth of billings hit the books. Quality vendors who have stability and who are transparent don’t over promise…. They just deliver consistent results like professionals do. Actually, their demonstrate great courage when they turn business away because they can’t accommodate the business, support the business or make great changes to their own business plan to accommodate a particular piece of business. When taking on a new client is going to spread you so thin, it will impact the service and support to your existing clients, it is time to walk away. Not all companies are willing to admit this. Some of the readers of this post have most likely experienced the promises but unfortunately have felt the disappointments and inevitable course corrections entailing having to find a new vendors because they were promised so much and received virtually nothing more than contract swaps and buzz words.
Supply chain management is a challenge shared by all businesses, no matter what the industry. Keeping track of products throughout the entire distribution process is essential to controlling costs, managing inventory and ensuring the quick and reliable delivery of goods. Businesses with sound logistical processes ultimately benefit in the form of an improved bottom line and more satisfied customers. Businesses who fail to manage their supply chain effectively, however, often fail as a whole.
Time management is an issue for many of us, especially as a small business owner who puts the key into the door of their business every day. It seems we get pulled away from what we want to do every day because business is very fluid and somewhat unpredictable. This seems to be even truer at the entrepreneur level where everything falls into your lap. (more…)
Our industry has been thrust into acquiring a fast education on things to look out for when signing a software contact. I am sure it is a topic many never thought they would have to address. In business, contracts are a necessary evil. Reverting to them and getting into heated debates over them is usually unnecessary because the contract is put into place to benefit BOTH parties — not only the vendor. Quality providers won’t have to fall back on the fine print of a contract, that you probably never knew was there in the first place. Quality providers are up front with the terms of the agreement.
No matter what business or industry you’re in, retaining top sales talent or talent in general is always an on-going challenge. Investing a lot of time and resources to find, groom and mature top talent only to see them leave is an ongoing concern for many. This is especially true for the small business owner. This topic caused me many sleepless nights when I was in business. I needed more sales people on the floor to handle the growth of the business. I needed good delivery people who know what the phrase “on time” means. If I wanted to grow, I no longer could be the best sales person and delivery person in the company. I needed to find good talent and committment to get me to the next level. Does this sound familiar?
With all of the economic uncertainty going on in this Country and with unemployment still high, we have seen an increase in violent robberies and burglaries across the Nation. We thought it important to provide the Pawnbroker community with a few reminders on some best practices for security.
When is it time to scrap? It’s time to scrap when it’s right for you. Everyone has LOTS going on in their lives and shops but if your gold or silver is not selling, you need money, metals have come out of pawn or the price is right; it’s the right time.
I have personally always told my clients when it comes to price, “You’re never going to hit the absolute high in the market – take the price when you feel like you want/need to move on materials and go on to the next thing on your daily to do list.” You’ll have more gold in the future, it’s what you do. Remember, metals markets are like an elevator, they’ll go up and they’ll go down.
Don’t be afraid to call, text or email your Rep… Communication is always key. Keep in mind, no one will ever know what the price will do from minute-to- minute, day-to-day. Sometimes you have to go with your gut. Sometimes you have to follow the dollar, activities overseas, etc. I watch metals by the second, most hours of the day and I am constantly reading articles and watching reports on TV. My responsibility is my clientele and advising as best I can but with regards to the market, sometimes you just have to get lucky.
This is an important point I’d like to go over. When you lock or hedge or price (gold, for example) and “shake hands” on a price with your refiner, that is a binding deal. If you hedge gold, silver etc. with your refiner; know that it can and does go down as easily as it goes up. Commitment and trust has to be mutual with every transaction. If you lock 10 toz at $1,250; your first 10 toz of your lot will be priced at $1,250. If the market goes up – your first 10 toz are still at $1,250. If the market goes down to $1,200; your first 10 toz are still going to be priced at $1,250. The balance and what to do should be discussed with your Rep. You can price at settlement, consign or even take bullion back – you should always have options and you should know them.
