By BidWrangler
5
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The podcast currently has 12 episodes available.
In this episode of the No Reserve podcast, host Tim Peters chats with Sherry Russell and Ranae Gabel of Alderfer Auction. They share their inspiring journey of purchasing and growing a family-run auction business in Hatfield, Pennsylvania. Sherry and Ranae discuss the unique challenges of buying an existing business, how COVID-19 forced them to pivot quickly, and the importance of building a strong company culture. Their insights provide valuable takeaways for any auction professional looking to scale or sell their business.
Links Mentioned:
In this episode, host Tim Peters sits down with Chris Rasmus, the second-generation auctioneer behind Rasmus Auctions. Chris shares his journey from joining the family business in 1983 to becoming a leader in auction innovation. They discuss the importance of working on your business instead of in it, how to diversify asset classes, and Chris’s groundbreaking move into online-only auctions in 2000. Chris also dives into how his company manages customer care for over 1,200 auctions a year and the success they've found in the retail returns market.
Resources Mentioned:
Links Mentioned:
BidWrangler
Rasmus Auctions
In this episode of The No Reserve Podcast, host Tim Peters, CEO of BidWrangler, sits down with Kervin Yoder, owner of Enlisted Auctions, and business coach Steve Byler, to discuss the transformative impact of the Entrepreneurial Operating System (EOS) on auction businesses. They discuss how implementing EOS has helped streamline operations, improve team alignment, and foster sustainable growth.
Key Points:
Tim Peters introduces guests Kervin Yoder and Steve Byler, and sets the stage for a deep dive into the Entrepreneurial Operating System (EOS) and its relevance to auction companies. Tim discusses how EOS has significantly influenced his own company's planning, hiring, and operational efficiency, setting the tone for the discussion.
Steve explains the initial steps of implementing EOS in a business, emphasizing the importance of starting with a Vision/Traction Organizer (VTO). Kervin shares the early challenges Enlisted Auctions faced while adopting EOS and the significant changes it brought to their operations.
The importance of maintaining an active Issues List is highlighted as a critical component of EOS that helps businesses proactively address and resolve challenges. Kervin reflects on how his team initially reacted to the EOS implementation and how their attitudes evolved, leading to greater alignment and productivity.
The episode concludes with practical advice for auction companies considering EOS, including the value of hiring an implementer and the significance of starting with the book "Traction" by Gino Wickman.
Links Mentioned:
Welcome back to another episode of the No Reserve podcast, hosted by Tim Peters, CEO and cofounder of BidWrangler. In this episode, we sit down with Jim Smith, a certified financial planner who transitioned to helping small businesses through his company, Performidable. Jim shares his journey from financial planning to business consulting, emphasizing his passion for working with entrepreneurial small business owners. Together, Tim and Jim delve into crucial phases of business growth, discussing strategies for startups and established businesses alike. Jim provides invaluable insights on avoiding common pitfalls, the importance of strategic planning, and how to ensure longterm profitability.
Key Points:
Jim's Journey and Vision for Performidable
Jim discusses his transition from financial planning to business consulting and the inspiration behind starting Performidable. The conversation shifts to the startup phase, exploring essential financial strategies and common pitfalls to avoid.
Transitioning from Startup to Growth Phase
Jim explains how to identify when a business has moved from the startup to the growth phase and the importance of strategic planning. He emphasizes the significance of proper pricing and overcoming the fear of raising prices to ensure profitability.
Implementing Effective Business Plans
Tim and Jim discuss the importance of systematic business planning, referencing the Entrepreneurial Operating System (EOS) and its benefits. The discussion covers the critical role of delegation and hiring the right people to sustain business growth.
Reinvestment and Profit Extraction
Jim advises on the balance between reinvesting in the business and extracting profit for personal investment, highlighting common practices among successful business owners.
Links Mentioned:
BidWrangler
Performidable
Book: "Traction: Get a Grip on Your Business" by Gino Wickman
Welcome back to the No Reserve Podcast! In this episode, your host Tim Peters sits down with Brian Damewood, the 2023 International Auctioneer Champion and second-generation auctioneer with Damewood Auctioneers.
Episode Summary:
After graduating from Virginia Tech and spending several years as a television news reporter, Brian felt the auction industry calling. He joined the family auction company, Damewood Auctioneers, as a second-generation auctioneer and the rest is history.
In 2023, Brian won the International Auctioneer Championship (IAC) at the National Auction Association (NAA)'s annual Conference and Show. In 2021, Brian was Reserve Champion (2nd Place) in the World Automobile Auctioneers Championship. In 2012, the Virginia Auctioneers Association (VAA) named Brian its “Auctioneer of the Year." He is a past-president and board chair of the VAA, and is a member of the NAA. His company, Damewood Auctioneers, sells real estate, equipment, and personal property. Brian also does auto auction contract work and helps with benefit auctions. In order to develop his skills as a live auctioneer, many of Brian's auctions are run in a virtual webcast format. Brian also stresses the importance of practicing and listening to his chant, which helps him perfect his skills and connect with bidders and donors.
During his tenure as the IAC champion, Brian has enjoyed being able to represent the NAA by visiting state associations. He is passionate about connecting with people in the auction industry on deeper levels. Brian and Tim discuss how the journey is the most important part of reaching the outcome.
Brian's number one piece of advice for auctioneers? Do not lose track of the influence you have as a live auctioneer. Sell as often as possible. Incorporate webcast sales as much as possible. Learn all you can about the industry. "If you want to get to the top of the mountain, you have to concentrate on each step it takes to get there."
Links Mentioned:
BidWrangler
Damewood Auctioneers
International Auctioneer Championship
In this episode of the No Reserve Podcast brought to you by BidWrangler, your host Tim Peters interviews Bryce Hansen, president of Hansen Auction Group. They cover company growth, marketing strategies, hiring practices, and empowering employees. The discussion also includes building systems, evolving departments, long-term goals, and the excitement of continuous learning in the auction industry.
Key Points:
Bryce shares his journey into the auction business, starting in high school and eventually joining his family's auction business full time after college.
Hansen Auction Group has grown significantly, with locations in Wisconsin, Minnesota, and New Mexico, conducting over 500 auctions annually and employing 80 to 100 full-time employees along with seasonal hires.
The company's growth strategy involves organic expansion and a strong focus on personnel, particularly in sales and marketing.
Bryce emphasizes the importance of hiring the right people who align with the company's values and empowering them to take ownership of their roles, which has been crucial to their success.
He also discusses the challenges of hiring in certain areas and how they sometimes hire ahead of need based on finding the right talent, a strategy that proved valuable during the COVID-19 pandemic.
Other key points Bryce highlights are:
Long-term goals for Hanson Auction Group include geographic expansion, strengthening specialties, and becoming dominant players in specific market segments.
The auction business offers continuous learning opportunities by working with various sellers and learning from their experiences and industries. The excitement and engagement in the auction industry come from its dynamic nature and the endless learning possibilities it offers.
Links Mentioned:
BidWrangler
Hansen Auction Group
Welcome back to another episode of the No Reserve podcast! Your host, Tim Peters, CEO and co-founder of BidWrangler, is joined by guest Jair Drooger.
Key Points
Jair is not only the co-founder of CT Assist, a cardiothoracic and vascular surgery staffing company, but he also wears multiple hats as the CEO of Sun Chaser, a non-alcoholic cocktail company, and runs MSL Consulting, a business coaching firm. He's also a co-founder of the WellMent Company, which focuses on employee engagement and well-being.
Join us as we dive into Jair's journey of managing multiple ventures, his strategies for effective time management, and his unique approach to connecting people with purpose. This episode is packed with insights on leadership, employee engagement, and building meaningful workplace connections in a digital age.
Links Mentioned:
BidWrangler
CT Assist
Sun Chaser
MSL Consulting
WellMent Company
Predictive Index
Books Mentioned:
"Who: The A Method for Hiring" by Geoff Smart and Randy Street
"Subtract: The Untapped Science of Less" by Leidy Klotz
"Cultures of Growth" by Mary C. Murphy
In this episode of the No Reserve Podcast presented by BidWrangler, Tim Peters, CEO of BidWrangler, sits down with Mark Manley, the President of Wiregrass Auction Group. Listen in as the episode explores the complicated landscape of bankruptcy auctions and strategies for success.
Key Points:
Complications with Bankruptcy Auctions
Mark, an experienced auctioneer and the President of Wiregrass Auction Group, shares insights into bankruptcy auctions and their complexities. He shares how he broke into the bankruptcy space, working with attorneys and clients, dealing with failed deals, and determining asset liquidation.
Strategies for Success
Mark suggest strategies like personal calls with registered bidders, which are crucial for successful auctions. He emphasizes leveraging relationships, education, and persistence to achieve success.
Quotable Moments:
"Bankruptcy is not something most people want to talk about, but it is a part of the auction industry where we can be really useful.”
"Personal calls with registered bidders are crucial for successful auctions. It helps uncover obstacles and increase buyer confidence."
"The best way to succeed in the auction industry is by leveraging relationships, education, and persistence."
Links Mentioned:
BidWrangler
Wiregrass Auction Group
PACER
In this episode of the No Reserve Podcast presented by BidWrangler, host Tim Peters offers valuable insights and strategies for auction professionals. We welcome today's guest, Linford Berry, founder of Mountain Valley Auction Group, to share his journey from startup to success. Highlighting the role of his background in diverse industries, Linford emphasizes the importance of relationships and trust in the auction business. He discusses his company's growth and evolution over time.
Key Points:
Transition to Online:
Initially aiming for simulcast auctions, Mountain Valley Auction Group transitioned entirely to online auctions in 2019, which proved beneficial during the COVID-19 pandemic, enhancing efficiency and expanding their reach.
Minimal Infrastructure, Maximum Collaboration:
Despite being a small company with minimal infrastructure, Mountain Valley Auction Group thrives through collaboration with other auctioneers and companies. This collaborative approach extends their reach, marketing efforts, and operational capabilities, contributing significantly to their success.
Diverse Background:
A diverse background in various industries — including dairy farming, poultry farming, and landscaping — provided Linford valuable experience and skills applicable to the auction business.
Importance of Relationships:
Linford emphasizes the role of relationships and trust in attracting opportunities in the auction industry, highlighting that many initial auctions came from established connections.
Marketing Strategies:
Benefits of a marketing approach focusing on social media, email marketing, and leveraging customer data to target niche buyers effectively.
Challenges and Rewards:
Time management emerges as a significant challenge due to the multitude of tasks involved in running an auction business. However, Linford finds joy and fulfillment in helping clients and exceeding their expectations.
Quotable Moments:
"People do business with people they like and people they trust."
"Our online auction system has allowed us to be more efficient."
"One of our biggest keys to success has been collaborating with other auctioneers."
Links Mentioned:
BidWrangler
Mountain Valley Auction Group
In this episode of the No Reserve podcast presented by BidWrangler, Tim Peters hosts Andrew Brockenbush, the CEO and Founder of Beefy Marketing. Brockenbush shares his journey from working at Apple to starting his own marketing firm. They discuss SEO complexities, debunking misconceptions and emphasizing key factors for organic search rankings. They also discuss different AI tools and the benefits they can bring.
Key Points:
From Apple to Beefy Marketing
Andrew discusses his journey from Apple to founding Beefy Marketing and its evolution over the years. He goes into search engine optimization and focusing on organic search rankings on search engines like Google.
Introduction to AI tools
Andrew introduces tools like Chat GPT for creative tasks and Uber Suggest for keyword research. He emphasizes the importance of evaluating the relevance and impact of SEO strategies based on individual business needs and goals.
Quotable Moments:
"SEO is much bigger than just putting a keyword on the back end of a page builder and hoping that you're going to rank on Google because you did."
"Buying backlinks not what it used to be. You shouldn't be buying links or participating in links schemes. We're looking for true value."
Links Mentioned:
BidWrangler
Beefy Marketing
The podcast currently has 12 episodes available.
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