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Building Systems and Growth Strategies in the Auction Industry
Manage episode 429333046 series 3573171
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In this episode of the No Reserve Podcast brought to you by BidWrangler, your host Tim Peters interviews Bryce Hansen, president of Hansen Auction Group. They cover company growth, marketing strategies, hiring practices, and empowering employees. The discussion also includes building systems, evolving departments, long-term goals, and the excitement of continuous learning in the auction industry.
Key Points:
Bryce shares his journey into the auction business, starting in high school and eventually joining his family's auction business full time after college.
Hansen Auction Group has grown significantly, with locations in Wisconsin, Minnesota, and New Mexico, conducting over 500 auctions annually and employing 80 to 100 full-time employees along with seasonal hires.
The company's growth strategy involves organic expansion and a strong focus on personnel, particularly in sales and marketing.
Bryce emphasizes the importance of hiring the right people who align with the company's values and empowering them to take ownership of their roles, which has been crucial to their success.
He also discusses the challenges of hiring in certain areas and how they sometimes hire ahead of need based on finding the right talent, a strategy that proved valuable during the COVID-19 pandemic.
Other key points Bryce highlights are:
- Building systems internally is crucial for minimizing risks and optimizing business operations as it scales.
- Developing departments and systems provides more freedom and efficiency within the organization, leading to better outcomes.
- Training and empowering employees is essential for growth, even if it means potentially training someone for your own role.
Long-term goals for Hanson Auction Group include geographic expansion, strengthening specialties, and becoming dominant players in specific market segments.
The auction business offers continuous learning opportunities by working with various sellers and learning from their experiences and industries. The excitement and engagement in the auction industry come from its dynamic nature and the endless learning possibilities it offers.
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