Tradition vs. Technology  If a family-run small business survives long enough, the reality of generational transition must be faced and worked through. Since selling my facility in 2019, I have had the opportunity to work with hundreds of recyclers from all over the world - and I have seen a wide variety of effects of generational transition in almost every operation. I’ve seen patriarchs that have refused to ‘hand over the reins’.  I have also seen the incoming generation ‘drop the ball’ and cause the business to fail.  I could write for days about issues that exist in family-run businesses, but today’s article is going to be focussed on the adoption of technology during generational shifts.  The Automotive Recycling Industry has been a very lucrative segment of the overall automotive industry for well over a century.  It has not required a lot of education, ability, or technology in order to provide an acceptable income for many generations.  A strong wor...

With the global lock-down affecting everyone’s sales, we are all looking for ways to find sales dollars. We also all know that the Automotive Recycling Industry is counter-cyclical - when the economy is hurting, we do better. When the lock-downs are over and demand for ROE parts is increasing because of the recession, will you be ready to convert demand into sales? Many will truly excel in the coming months as demand rises and you are able to cash in on it. However, many facilities are not ‘connected’ correctly to capitalize on the opportunities that will exist. What do I mean by ‘connected’? Each customer type that we have uses a different method of finding our inventory. If you are not sharing your inventory so that it appears on the platform that potential customers are using, then you will not have the chance to sell your part. Many retail customers search online to find parts: eBay, Car-Part.com, Hollander Storefront, TradeMe, Etc. Body Shops using Estimate-Writing sof...

Every dollar of expenses reduces your Net Profit by the same amount. Conversely, every dollar of expenses that is reduced increases Net Profits by the same amount. Are you struggling to be profitable? Increase profit by reducing expenses. How can I reduce my expenses without sacrificing quality of service to my customers? Let’s dig into that question and see what can be done. Recurring Bills Each of us have recurring bills that we simply pay out of ‘habit’ each month. I’m talking about bills from you YMS Provider, a third-party software solution, a utility bill, and lease payment, and rental agreement, etc - you get the idea. There are certain bills that get paid each month without reviewing them - simply because of who they are from. It’s time to review these bills. Look for increased fees or increased rates that you did not agree to. Pull out the same bill from 12 months ago - is this year’s bill higher? Did you authorize them to charge you a higher rate? Spend the time, make a ca...