Pawn Shop Advisor Blog

Big Surprise

I am back in the office today after an extended weekend in Detroit. While in the Motor City, I had the opportunity to do one of my favorite things. That being - sitting in my father-in-law's den, talking business with him. It truly is a remarkable experience. I think you may enjoy my sharing a small portion of the conversations we had. That's because when my father-in-law speaks it makes me want to take notes. I do.

He's not an ordinary man - and my respect for him and his family goes beyond the love I have for his daughter. He's an extraordinary individual - he doesn't miss a thing. He's the kind of a guy who can tell you how many scuffs you have on your shoes without ever looking down. And his experience in business and in life is well beyond the norm. I treasure our talks.

He asked me how my coaching programs were going with the pawnbrokers, and I let him know that my clients were receiving many benefits in their businesses because of my suggested systems and processes in the programs. I also told him that being able to assist entrepreneurs in their businesses is one of the most rewarding things I've ever done. It is.

He looked me in the eye and asked me "Any Surprises?" I smiled and told him there was one big surprise so far. And that is - finding out how much I didn't know about the business I've been in for over 30 years. He smiled and nodded with approval - he understood completely. I told him I wasn't sure who was learning more about the industry. My clients or myself.

He told me that I was the one learning more. He said that as you study a subject, you slowly learn most of the information the instructor knows about the subject. But as you teach a subject, you quickly learn more of the information that all the students or clients know about the subject. And your database on the subject and knowledge of it increases exponentially.

Especially when your students happen to be business professionals as mine are. Like I said - he has great experience - and he's right on the money. My teaching experience pales in comparison to his. And that's exactly the point I'm making in sharing this conversation with you. My clients are learning many new things about their pawnshop business with the Pawn Shop Advisor(tm) http://www.pawnshopadvisor.com/main.cfm coaching program.

And I am learning plenty more about the pawnbroking industry from my clients. It's reciprocal. When I first made the decision to share with our industry the many methods and unusual systems I used in my business to make my pawn shops the busiest and most profitable in my state, I knew I couldn't hold back. Not only did I have to explain my successes - but even more importantly - I had to explain my failures. My screw ups - and I've had plenty of them over the years.

Some of them mighty costly. So why should I embarrass myself and put these screw ups in the program? Easy. So my clients will benefit by not making the same mistake. But I discovered that by opening up in this manner my clients are willing to do the same thing. They are telling me about their worst mistakes. Sometimes even ones they are currently making.

This is very helpful because it gives me the opportunity to assist them in fixing it. It also provides me the opportunity to share some new screw ups with my other clients. And I will continue to do so. Because I will never have all the answers - but as my list of clients in the Pawn Shop Advisor(tm) http://www.pawnshopadvisor.com/main.cfm coaching program continues to grow - so does my depth of knowledge in our industry.

But I must admit to you, my big surprise - finding out how much I do not know about pawnbroking - is a very enlightening and humbling experience for me. It's also a very beneficial experience for my clients. Because beyond the scope of the program I will continue to share all of the new information I'm learning with my clients. I believe my father-in-law is proud.

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

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