Pawn Shop Performer Blog

Excuse-itis

This morning I spent some time speaking with a client of mine who was suffering from a typical affliction. Excuse-itis. This is a condition I'm very familiar with because I've been guilty of it many times myself in the past. Even now I occasionally have to remind myself that making excuses is both unproductive and unprofitable. Here's what I mean.

My client had noticed a marked reduction in scrap gold purchases in his pawn shop over the past six months - this is one of the reasons he became a client of mine in the first place. He was having a difficult time putting together a plan to turn this around and get his scrap purchases back on track. Why? I discovered he was looking in the wrong places.

When I asked him why he felt his scrap purchases were down here's what I got from him. "There's too many new gold buyers opening in my marketplace - everyone is advertising they buy gold - a hotel buyer has been in my town at least once a month - the customers in my market area have nothing left to sell - too many people are having gold parties."

Like I said - he's looking in the wrong places. This may be something you're experiencing in your pawn shop business also. Maybe you've even made an excuse or two like my client. And that's what I want you to understand today. These are not solutions - they are merely an excuse.

That's because if you want to fix something in your business - you start out by looking at YOUR business. Not the competition, not the customers, not what everyone else is paying, not what everyone else is doing. You start out by looking at you. This is the only logical step you can take that will lead you down the path to a productive and profitable solution.

You may be interested in some of the advice I gave my client. You might even find it to be a bit blunt for your taste. That's okay. My clients do not pay me for sugar coated advice. They pay me for reality and results. Even if the reality is a bit harsh sometimes. One thing I told my client and I will share with you for your benefit is this:

"You will not improve your situation or fix your problem until you start taking responsibility for your business."

And what I meant by my statement is this. Blaming everything else outside of your business for what's going on inside your business - getting excuse-itis - is not a responsible way to run your business. If something is going on in your pawn shop that is not to your liking, not up to your expectations, and you choose to fix it - take responsibility for it.

I know - it's tough to look yourself in the mirror and say "this is all my fault." But if you can do so and quit making excuses for what's going on in your pawn shop you will be well on the way to fixing anything in your business that should be fixed - responsibly - no excuses. I'm not saying that things outside of your business do not affect it. Of course they do.

But using these things as an excuse - a crutch so to speak - will not fix anything in your business. The only truly effective way to fix something in your pawn shop business is to take responsibility for it, do the work to find out where your problem lies, lay out a plan to fix it and take action. I gave my client a six step plan to work on a fix for his lack of gold sellers. He now realizes that it's his fault, his responsibility, and his plan to implement. And if he does so he will benefit.

And I believe he will - I think he's finally tired of suffering from excuse-itis.

Don't think I was tough on him though. In several sections of the Pawn Shop Advisor(tm) http://www.pawnshopadvisor.com/main.cfm coaching program I go into painful detail of some of the most ridiculous excuses I have made in my pawn shop businesses over the years. Stupid ones. Embarrassing ones. Hardheaded ones. Why? So hopefully my clients will be able to recognize if they are taking responsibility for their business or if they're just making excuses.

Keep your eye on the target and your mind on the goal,
Stephen Krupnik

P.S. And if you have not made any plans this year to attend one of the pawnbroking tradeshows it might be a good time to do so. I will be at most of the major shows giving presentations and will also have many of my products for the industry available for your review. Not going to a show this year? What's your excuse.

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**The contents of this blog post are not to be considered as business advice.**

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