Starting Fresh

 

By Deb Weidenhamer

 

December’s end and the start of a new year bring a combined sense of lost time and the freshness of a new beginning.  The regret of where time has gone is futile unless it sparks a rededication.  It seems we focus on what is urgent and oftentimes forget what is important day after day, month after month and year after year.

 

One of our company’s values is “never forget the devil is in the details”.  Simply stated it is rare the big items are what haunt you and keep you from success.  It is the fine points that are easy to overlook that have a way of rising from nowhere to slow down your progress. Following are some thoughts of the “little things” that may get overlooked. 

 

Check your company literature and website to see if the information is still accurate and a good description of the capabilities of the firm as they have progressed. Are the copyright dates current?  Are address and telephone numbers up-to-date?  Is your URL displayed boldly so clients can access your website for the latest information? 

 

Review your company’s consignment contracts, appraisal engagements and forms.  Are you protecting your interests by having all the correct information?  Are client copies of the forms helpful to them or are they full of auction and appraisal jargon?  Is your contact information on all forms so clients can easily find you?  When was the last time you signed a new contract with your best consignor and does the agreement represent the way you currently conduct business together?

 

Insure the governmental reports you file are current.  Failure to have valid tax exempt certificates on file for tax free clients may result in fines.  Are you using the most current Federal Firearms License procedures and logs?    Are you in compliance with all city and state auction regulations?  Have you renewed your auction license?

 

Examine the cost of doing business.  Go over your labor cost, taxes, transportation costs, insurance, membership fees, advertising rates and incidental bills and see how much they have gone up since you raised your rates.  Did your transportation fees rise to meet the cost of gas?  Will heating your facility be equal to last year’s rates? 

 

Evaluate your client list.  If you haven’t seen a buyer for some time, contact them to see why they aren’t frequenting your business.  Review consignment percentages to insure the rate charged covers the costs for processing PLUS a profit.  Examine relationships for the hardship factor of a client and make sure if you don’t fire a difficult client that you raise the rate to an acceptable fee equal to satisfying their needs. 

 

Do a buddy check.  How long has it been since you gave your faithful warehouseman a raise?  It is easy to forget that their costs have continued to go up.  Perform employee evaluations whether you have one or 100 employees.  Everyone wants to know what is expected of them and how they are doing in the eyes of the company.  Find out what new plans they have for themselves and how the company can aid in their pursuit.  Helping to achieve an employee’s dream is a great way to meet the company goals. 

 

This is just a start to a long list of items we often disregard and put off as a task for the next quarter that never comes.  It is impossible to be perfect but looking forward to the potential obstacles is the best way to keep from stumbling.  Happy New Year!