As I was watching the 2018 IAC competition, specifically the interview with the finalists, one of the questions they were required to answer was in reference to personal and business related challenges they’ve faced in the auction industry and how they would overcome those challenges.
I enjoyed listening to each competitors’ answer as they interpreted the question, but I noticed many touched on the theme of technology and how it changes so quickly it can be tough to stay up to date and relevant.
We know technology is making a huge impact on the auction industry and most believe we need to accept it in order to be successful, but it can definitely be hard to find resources or know exactly what to do.
Here are some things to consider when creating your game plan for integrating tech into your business.
Take chances. Don’t be afraid to try something just because you’re afraid to invest some time, money or you’re not familiar enough with the material. Sometimes it takes a mistake or small failure to help you find your cleared path and maybe, just maybe, you’ll be pleasantly surprised with the results.
No excuses. A lot of time when I talk with auctioneers about technology or marketing or not doing something that they know is beneficial to their business, their main reason is, “I don’t have time.” Yes, it takes time to research cataloging software and Facebook marketing BUT it’s definitely worth it once you do. You’re essentially just delaying the inevitable. By not investing in technology benefits now, you may be left behind. Make the investment.
Talk to your fellow auctioneers. See what’s worked for them, what hasn’t. Everyone has a tale or two about their experiences with the auction industry. Learning from each other is a great asset.
Ask questions. As you’re navigating new tech & marketing avenues feel free to call companies and just discuss with them what they do and how they may be able to benefit your auction company and work along side with you. For some, there may be a bit of a learning curve and that’s okay, ride that curve.