b"Auto Recyclers ToolBox 37vehicles at too high a price for yourwho your best customers are, and whoback when it was the only one avail-stock levels. So please, stop assumingyour worst customers are. Having thatable) was four simple words: Garbage reports are correct and start validatinginformation will allow you to stopIn, Garbage Out. Stop thinking your them.spending time and energy on badreports are accurate, unless you know customers and dedicate more time,for certain every single member of your energy and resources on the goodteam knows exactly what you and your customers.One of the best and easiestbusiness management system require of I feel all too many in ourthings you can do to better your bottomthem and you. Then you can trust the industry need to stop ignor- line is to stop serving unprofitabletechnology and its most valuable tool, ing financial data. Toocustomers and donate them to thethe reports.many make decisions basedcompetition. I hope these few tips will allow you on check book balances. to use our industry's technology to your STOP making it complicated company's advantage so it becomes all it For some, this article may oversim- can be and deserves to be.plify how we can use technology to stopUntil next time, I wish you the very STOP ignoring financial facts! doing what we need to stop doing.best in our industry and beyond!I feel all too many in our industryDont make it more complicated than it need to stop ignoring financial data. Tooneeds to be. It is not complicated. Presi- Herb Lieberman many make decisions based on checkdent Reagan (this is not a politicalHerb has been active in book balances. They dont take the timestatement) once said, TRUST BUTthe Auto Recycling Industry to read and validate monthly andVERIFY. I always keep those threesince 1957, and is known quarterly financial profit and losssimple words in my mind in every phasefor many firsts. He was statements. Reports from our businessof my business, from hiring and firingfirst to offer warranties on management systems can be misleadingto every other possible businessparts and labor, first to build if not all data is entered properly. Thatdecision including reports I use on aamodernware-house, is dangerous. Remember, figures don'tdaily basis to run my business. office and customer service lie, but liars figure Make sure every- facility, and first to move his thing is accounted for, going into thecompany to a five-day work week. In 1999 his fam-ily business became part of the LKQ Organization calculation of your P&L, so you knowDont make it moreand in 2019, Herb retired from LKQ. Herb remains exactly what your financial status is andactive in the industry, as an ARA Past President can plan accordingly. We need to getcomplicated than it needs toand Life time member. Yes, Herb is Retired, NOT the facts and only the facts! be. It is not complicated. Expired and desires to continue to bring value to the Industry, viaARA and the Recyclers ToolBox. STOP un-validated quotesYou can reach him by email:We need to stop tossing quotes andAnother quote I heard, (when I firstproducts at the wall to see what sticks.had my Auto Info System installed way It may have worked in the old days; but we can't afford those business tactics today.We must stop telling thePassed Along Social Medeacustomer what they want to hear just to get a sale, and deal with the adjust-ments and or consequences later. The hidden cost to this activity is reflected in your bottom line; but how it gets there may be hidden. You must audit, on a regular basis, every member of your team. Audit credits, adjustments, void sales, as well as, their quote to sales ratios. We must stop assuming and start validating.STOP assuming that all Customers are equalStop thinking that a customer is a customer is a customer All customers are not equal.All customers are not profitable.Do you really know who your profitable customers are and who are not?If your business management system is populated with valid facts andIt looks worse the longer you looknot garbage or missing data, your customer account reports will tell you"