PawnMaster Blog

What I Would Tell My Younger Self: With Dave Larson

I have been thinking about this question since I first read Robb’s blog. It keeps hanging there in the back of my mind, waiting… irritating me.

Guerrilla Warfare

Guerrilla Warfare is commonly defined as ”a wartime strategy involving a small attacking, mobile force, typically deployed against a larger orthodox military force with less mobility.”

What I Would Tell My Younger Self: With Len Summa

What would the older me say to the younger me now that the experience has settled in? This is a very good question that evokes great sentiment—joy and sadness all in the same breath for me.  

Guest blog: Invest In Your Business

According to an analysis by the Economic Policy Institute, the median working-age couple has only saved $5,000 for retirement, and 70% of couples have less than $50,000 saved. Considering retirement can last 30 years or more, having a solid savings plan is crucial to everyone’s well-being and long-term happiness – both yours and your employees.

Guest blog: Leveraging For Success

Growing up in the 80s and being around pawn shops my entire life, I was surrounded by the stigma that the pawn world was ruled by men, and women-owned shops were very rare. Also prevalent was the mentality that the shop will just run and grow by itself. Many of the stores I encountered in those days gave little to no effort in the way of growth strategizing, growth monitoring, or new idea implementation.

The SMART Guide to Selling Your Pawn Shop

*This post is presented in partnership with SMART Financial Operations LLC

There are a number of reasons to sell a pawn business. Perhaps you're ready to retire and you don't have someone to pass it onto, or you're just ready to move on from the industry but don't want to see what you've built shuttered up and vacant. I’ve been in this business for over 30 years, and have been involved in several hundred purchases and sales of pawn stores, both as the purchaser and the seller. There's a lot that goes into the sale of a pawn business, and not all of it has to do with numbers. Preparing your shop for sale is a lot like getting a house ready for a showing. The numbers are just a part of the equation, because the details can really make or break a sale.

Success Is Never Owned

5 Tips for Planning Your Upcoming Year

As year-end approaches, business owners often get pulled in many directions. In the retail sector, this is when sales typically peak. This finds many business owners working more hours in their shops while spending the little free time remaining readying for the holidays and gathering together with family and friends. What can be forgotten in the midst of the season’s hustle and bustle is the critical task of business planning for the upcoming year. Even a small amount of planning in the following areas can provide your business with a roadmap for success.

My Favorite Interview Questions

As part of my various daily responsibilities, I am the company’s recruiter and interviewer. It’s my job to use all the questions at my disposal to determine whether the candidate is right for the job or not. In fact, I have two favorite questions that I never waiver from. I use them in order to see how the interviewee will react and what may make them great team members. We all know that a person’s skills and abilities, no matter how impressive they may be, are just part of what makes a person tick. When you hire someone, you’re not just acquiring whatever that person can bring to the table, you’re hiring a real person with strengths and weaknesses that will inevitably affect how they perform.

Business Adaptation

There are many similar traits and characteristics when comparing sports and business. I'm not a fan of Coach Belichick’s team, but I am a huge hoodie fan and follower. This is one of the best and longest interviews he has ever given and when you sit back, listen, and absorb, it just makes sense. His approach to the sport is business-like, and his strategies and tactics can be transferred into any business practice, especially around leadership; Getting the most out of your team and the ability to constantly employ situational awareness involves adapting and overcoming.

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