PawnMaster Blog

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 basethe 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.

Posted on 22 Dec 2017

2017 - A Year in Review

As we are about to ring in 2018 and start our 30th year of servicing the pawn industry, we must review the year 2017. As we look back we once again had another very successful year. Our mantra and brand promise is to put the PawnMaster client in the best possible position for success. The PawnMaster client base continued to flourish in 2017 as our brand promise continues to be all about the customer.

PRODUCTS
We have been known for delivering the best and most stable products in the market for three decades. In 2017 this continued. Being the only dual platform company on the planet, we saw PawnMaster Ignite, our true cloud platform, gain market share while our Classic product still dominates the pawn landscape. Being the industry leader we felt it our duty to offer the newest technologies without compromising stability.

Posted on 21 Dec 2017

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.

Posted on 20 Dec 2017

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.

Posted on 18 Dec 2017

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 c lient 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.

Posted on 01 Dec 2017

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?"

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