Pawn Leaders

Tune in to find out about my week at the Dixie Convention and the things I learned.   To continue the discussion join the Pawn Leaders Facebook Group

Jamie Smith left the banking industry and started a payday advance and check cashing store with his wife, Amber. The business grew in 2 locations. They also started an Ebay business selling coins and bullion, which eventually grew into one of Ebay’s most successful retailers in that category, achieving Titanium top-rated seller status. In April 2013, they opened their first pawn store, Allied Pawn, in Dubuque Iowa and business has been great. Over the last 10 years, Jamie has learned from some of the top pawnbrokers, jewelers, coin dealers and marketers in the world. He has used his experience to grow his business and developed his unique approach to grow Allied Pawn to one of the most successful pawn stores in the west.   [02:01] A shift in the business territory caused Jamie and his wife to look at other options and he decided to go into the pawn business based on his experience with coins, gold and lending   [03:02] What are the laws governing pawn in Iowa? “We have no law. Operating under a city ordinance

Links Mentioned on Today's Five Minute Friday: Dixie Convention Center To continue the discussion join the Pawn Leaders Facebook Group

Dr. Wayne Babovich practiced law for almost 40 years before retiring. He now teaches and lectures on a regular basis and has lectured in Europe, Canada, and Australia and throughout the United States. Wayne holds a B.A. degree from Louisiana State University in Baton Rouge, an MS degree and a Ph.D. in Urban Planning from the University of New Orleans and a Juris Doctor degree from the University of Houston. He has published and lectured in the area of pawnbroking for over 30 years, at various pawn conventions. He drafted the original legislation which formed the basis for the 1993 Louisiana Pawn Shop Act adopted by the Louisiana legislature.     [04:58] Wayne shares an experience he had with a sheriff at a meet and greets hosted by the Louisiana Pawnbrokers Association   [06:21] As a pawnbroker, you have to balance between being stern and being civil   [06:47] Wayne talks about collating a book regarding the pawn business after realizing that pawnbrokers were unaware of the laws surrounding the business   [07

Today I give you the harsh truth. Stop complaining and take accountability. I hear pawn brokers complaining all the time without taking responsibility for their problems. Listen in on this episode as I break down how you get out of the cycle of complaining and start finding solutions.

From a very young age, Lauren Kaminsky Goldman, also known as the GoldGirl, has been involved in multiple facets of the jewelry world. Her career has covered businesses ranging from blogger to curator to, most uniquely, pawnbroker.Lauren’s love for treasure hunting began at her grandfather’s pawn shops, where she would sift through trays of jewelry to find unique pieces and pretend to negotiate the best deals with the staff.Now, as a third-generation pawnbroker, Lauren has elevated to Chief Operating Officer and President of EZ Pawn Corp., overseeing 15 stores, and working alongside her father/CEO, David, and brother, Jason. She has worked hard to grow the business as well as to educate the public about pawnbroking in hopes of altering negative stereotypes from past generations.Outside of her day jobs, Lauren has spent years being active on the Board of Directors for the National Pawn Association. Lauren looks forward to expanding her brand to other corners of the jewelry world and to be a well-respected voic

On today's episode, I share some insights from a recent mastermind discussion. A lot of times as leaders we get comfortable with being uncomfortable. Listen in on this episode as I share some strategies you can implement immediately to stop leaving money on the table.

Matt Prados built the Review Wave platform to assist hundreds of local businesses to achieve online success. He has been working in digital marketing for the last 10 years and enjoys spending time with his family and being physically active. Matt zeroes in on what he feels is the future of online marketing in this episode of Pawn Leaders.     [02:22] The concept of Review Wave came about because Matt no longer wanted to be an employee, but an employer   [03:10] Matt wanted to help people be successful through digital marketing, without all the “fluff”   [04:02] “It doesn’t matter what else you have. You could have no website, but if you have a killer Google local listing, with 200 reviews, you get leads from the internet.”   [04:23] “If you have reviews, you will be more successful online and if you do it right, it’s money in the bank”   [07:09] Companies should stay away from “creating” reviews for their business, as Google is able to recognize that the reviewer is not authentic   [08:50] Do you focus on one

00:00 Welcome back to another five minute Friday and I want to talk to you guys about what I think is essential when creating an incredible culture. So there's three steps, three important steps to create a great culture in your partner organization, and the first one is structure. You need to have structure, you need to have rules and regulations. You have to have your hr in place, you have to have your manuals down. People have to have extreme clarity on exactly what you want them to do, how you want them to do it, and what laws that they need to abide by. I see so many pawnshops not paying attention to this step. Structure, rules and regulations. A lot of times people want to have these shops that just are free for all, or you think that culture comes from that, from having freedom at the stores, but that's not really true. People work better with structure. People work better knowing exactly what they need to do and how they need to do it, because then you put forward expectations. 01:34 You know what to

In today’s episode, I speak with founder of Value Pawn, Rent-Rite, La Familia Pawn, Premier Pawn and Smart Financial. John Thedford is a CPA and author of the best-selling book, ‘Smart Moves Management’. In 2008, EZ Corp acquired Value Pawn for 120 million dollars. Listen to this incredible pawn industry entrepreneur as he shares his knowledge on the operations of the pan business.   [02:36] “The most powerful source on this Earth is a human engaged in meaningful work”   [04:03] It’s important that you utilize culture leadership so that the persons you hire do great work   [04:52] John started out at PricewaterhouseCoopers as a CPA and was assigned to Cash America pawn to audit their business. He was pleased with the concept of the pawnshop and was eventually hired as an Accountant.   [06:37] EZ Corp eventually hired John and the continued exposure kept him on the pawnshop journey   [09:53] High wages is about finding the right people and paying them what they are worth   [11:59] John’s wage strategy is hirin

I share Three Things I learned at Social Media Marketing World that you can apply to your pawn business. 1. The customer wants an experience not just something to buy. 2. You need to entertain on Social Media 3. Create Superfans Listen in on this episode as I expand more on these 3 topics. Join us on Facebook at the Pawn Leaders Podcast Community.

Bob Moulton started as a computer programmer and an on-air radio personality. He went into the pawn industry in 1984 where he opened National Pawn three years later. There are currently 16 National Pawn stores, with the 17th opening in about 3 months, and over 130 persons are employed there. Bob received the NPA’s Pawn Broker of the Year and Outstanding Community Relations award, along with local awards for integrity, entrepreneurship, business and marketing. His hobbies include traveling, boating, collecting watches and motor cars.   [01:39] Bob was exposed and gained an interest in the pawn business after his uncles and mother worked in the industry.   [02:13] Opening his first pawn store in 1987 made him realize how much hard work and money it took to start and run the business.   [02:41] Bob opened 3 stores in a short space of time and waited some years before opening the 4th and 5th; then took a long break before opening the 6th.   [03:23] What are the laws in your area as it relates to interest and hold

On today's episode, I talk about a recent conversation he had with a fellow pawnbroker through FB Messenger. The conversation started from a post on Facebook that led to the simple question "How are you doing?" After going to several conferences with this fellow business owner, I felt ashamed because I had never taken the time to ask how the individual was doing personally. Tune in to find out how those four words led to a conversation about vulnerability and connecting.

Dave founded The Consultants in 2012 after realizing there was a market for the experience he developed within the last 32 years. Dave educates the precious metal dealers who are unaware of the federal guidelines associated with their business. He has over 100 clients that he helps navigate the local, state and federal regulations that many find burdensome and confusing. He owns 2 pawnshops since June 1996 (one in California and one in Oregon). Dave spent 15 years on the board of Oregon Pawnbroker’s Association as a Secretary and Treasurer and is involved in passing legislation at the state level. Dave and his wife Robin have 1 son and live in Oregon. Dave talks about Anti-Money Laundering.   Dave founded The Consultants in 2012 after realizing there was a market for the experience he developed within the last 32 years. Dave educates the precious metal dealers who are unaware of the federal guidelines associated with their business. He has over 100 clients that he helps navigate the local, state and federal

Do not hoard inventory. Many pawnbrokers are hoarding more than they are selling and therefore overpricing items in their store. Inventory should be turned over to get good money on valuable items. Stop hoarding merchandise by: Having a sale Rejecting items that you cannot sell Investing in property or things that can be beneficial to you in the future “Stop hoarding merchandise. It affects you as a leader, it affects your team and it affects your bottom-line.”

  [03:31] Chris had to do additional duty while being an FBI agent. He was an FBI investigator and worked in terrorism.   [04:39] “When I first got there they said ‘Look, if you take more than 20 minutes to get to the bottom of this and get this resolved, you’re doing it wrong’”   [05:25] Knowing how the brain works gives you an idea of what you are looking for in advance   [08:21] Apologizing first prepares the customer for what is about to happen next; which they genuinely appreciate   [11:14] “The late night FM Dj voice is miraculous in what it can accomplish for both sides”   [13:55] Daniel Kahneman, author of ‘Thinking Fast and Slow’ and ‘The Undoing Project’ by Michael Lewis explains the Prospect Theory.   [16:39] Finding ranges when selling an item is powerful, as customers compare the lower figure to the higher figure and are attracted by the figure at the end of the range   [19:18] Compromising leaves people unhappy   [22:16] “We found consistently that there’s usually 3 rounds of cuts in ne

Tim is the co-owner and managing partner of Pacer Limited. He is the president of the Arkansas Pawnbrokers Association, past GRC chair of the National Pawnbrokers Association (NPA) and the current president of the NPA. Tim has been married to his wife Lisa for 33 years, with 3 sons. Listen in as Tim shares his experience as a pawnbroker and as president of the NPA.   [00:32] Tim founded his pawnshop in 1990 after a 10 year career in retail jewelry   [01:59] He started working in a jewelry store during Junior high school. He then went on to working at a jewelry store during college.   [02:49] An independent had an idea for a jewelry only pawnshop specializing in fine jewelry. They partnered and started the pawn store.   [03:36] There is no retail pawnshop or storefront. Items that are not redeemed are wholesaled.   [06:59] “Whether I was in retail jewelry or whether I was in pawn, it was very awkward for me to tell a customer on one hand ‘Your ring is worth $200’ and yet on the other hand they come back and th

Tony Gallo specializes in security and loss prevention for higher risk businesses. He has more than 30 years’ experience in the security, audit, safety and emergency management field. Tony has a Bachelor of Security degree in Criminal Justice from New Jersey City University. He is a licensed security consultant and a published author. In this interview, Tony shares tips on protecting yourself and your assets.   [01:16] Tony has been in the pawn industry for over 20 years. He started working with a company called EZCORP (a pawn shop trade), where he was Director of Risk Management, Security, Audit and Emergency Procedures.   [03:46] Many pawnbrokers think that their security will not be compromised.   [04:17] “My goal is to prevent a robbery from happening.”   [05:34] “Sometimes, the cost of being proactive is way less than having to be reactive.”   [06:41] There are proven procedures that can reduce your exposure to shoplifters.   [10:21] It is recommended to put peepholes in the back door of your pawn store

Mike Willingham, VP, and COO of iPawn Arkansas and president at Willingham Diamonds speak on using leadership to influence persons to be their best self and work towards their dreams.   [00:24] Mike is an entrepreneur, passionate about leadership, investing and pawnbroking   [00:46] VP and COO of iPawn Arkansas, president at Willingham Diamonds and serves as a board member of National Pawnbrokers Association   [01:07] His true passion is influencing younger men to realize their leadership abilities   [01:54] Mike started pawnbroking with a friend of his, where they used items from their garage   [02:34] Mike currently has 2 stores   [02:46] Before August 2017, Arkansas had no regulations regarding pawnbroking. The law now states interest of 25% per month with a holding period of 30 days   [03:21] Mike pawns jewelry, general merchandise, boats, cars, RVs and much more   [03:29] He opened his first store 8 years ago   [03:47] Finding passionate and ambitious employees is one of the hardest situations Mike has e

Josh Davis, the owner of GC Pawn, utilizes technology to drive his pawn store. As a third-generation pawnbroker, he has gained extensive knowledge from his family and currently has 7 stores. He shares his own experiences and advises us on running a successful business.   [00:38] Josh was born and raised in New York, 3rd generation pawnbroker, started working early at the front desk and learned behind the scenes business from his father   [00:53] Josh has a degree in Computer Engineering and Mathematics and is a Cellist   [01:02] In 2008, Josh and his brother Adam opened their 1st pawnshop in South Florida at 22 years old. The operations was expanded to 7 locations   [01:11] Josh recently, independently, developed in-house pawnshop software for his company to use   [01:23] He currently serves as president of the Florida Pawnbroker Association, board member of the NPA’s young professionals and board member of his local city’s civil service board   [02:45] Florida is governed by Florida statute 539. Florida law