Liquidation or winding up of a business is a challenging situation for any business. This is when a company knows there are valuable resources they will no longer utilize and begin the process of looking for assistance in liquidation. Cardinal Selling Services is an emerging brand in the liquidation service space in the USA. Lead by Vicki Wiederkehr, the company operates in the SW Indiana region. As a self-coined term of “Optrepreneur” in the liquidation industry, Vicki Wiederkehr works with a sole focus of helping her clients optimize the best return for their items of value when liquidating business assets. She uses various Internet tools to connect with buyers locally, regionally, and across the globe to offer and sell quality assets at fair market prices. The liquidation services are supported by a franchise and a technology platform.
Ms. Wiederkehr is also an educator, who feels passionate about her business model, supporting business owners and bringing dollars into both the business she serves and the community. Seizing opportunities is how her empire was built. Strategy is the company's first step, with many steps to follow to make the process complete. What does it take to become a successful liquidation services company? Ms. Wiederkehr shares her views on important requisites needed to grow and sustain her business in the liquidation services space.
What Does It Take to Build a Successful Liquidation Services Company?According to Vicki Wiederkehr, the following has helped her build a strong liquidation services company.
- Education: College isn’t for everyone, but it definitely provides tools for your future and it sure looks good on a resume. Learning from those you choose to mentor with is the time management version of higher education of entrepreneurs who are hustling and making sales and profit happen. Connecting with those who can bring you up, is the most important aspect of networking for the business who is growing and advancing. Using every moment of downtime to increase your skills makes sense, increases your value to your own business or even as an employee. Encourage your staff to learn each day. Keep your political views neutral, in public and remember your mind is focused on networking and attracting talent and clients who may not appreciate your personal views.
- Grit: A mix of determination and confidence. A strong work ethic is vital to find success. Use your ability to grind out tough situations with a strategy, use your grit to deliver it. In general, most things worth having are not easy.
- Strategy: Assess the opportunity, apply your talents, ask questions, and build a strategy where all people involved can win. Give a timeline you can work with. Liquidations with ROI in mind, is the Cardinal Selling Services superpower! When your clients are B2B, being clear and transparent with all parts of your selling agreement is vital.
- Confidence: You can’t buy it, you must get it by trying, succeeding, and learning/growing/winning. Don’t let anyone take your confidence away. There are many forces of negativity out there in the world today. Be sure to pay attention to those who are not there to guide you into a winning future. Success brings on more confidence. Find and focus on successes, and learn from your failures. Move away from negativity and realize leaders/rhinos don’t sit with cows.
- Vision: Vision for your journey, for your brand, your own book, for your gift to your community or even the world. Be sure it is authentic, so the people that know you the most understand this is the real you. Perhaps they saw this vision for you before you did. Also consider, ‘to what end’ or most would say, simply know your “why”. Be ready to adapt your vision as the chapters of your book unfold, your needs change, your ability to see the future changes. Your clients’ needs may change. Don’t be afraid to apply a new solution to an old problem. Always check that your vision is utilizing steps to move you closer to fulfilling your own why. Entrepreneurship is personal, be sure to let the art of this title unfold in the time it is meant to, and be aware of signs to pivot with your vision. “A person can change his mind, a fool never does”, a powerful and favorite quote from a mentor in my past, Oscar Kunkler.
In 2006, Vicki Wiederkehr started with marketing and selling classic cars for her clients in the Southern Indiana region. Over the years, the sales expanded to include other automotive items such as boats, RVs, and motorcycles. Later, it expanded to include sales of unused or used business assets. Today, the company has transformed into a complete service company that works with small businesses to fortune 500 companies across the US. It supports its clients through an advanced technology platform and operates with a franchise model available in 34 states.
“Every overnight success has taken 15 years” -Daymond John. A reminder within that quote allows Ms. Wiederkehr to have confidence that the time is right to bring together businesses across the nation, through being represented by a reputable national brand for liquidation services. With agility in mind, the model will continue to evolve.
Growing through chaos in a global market is what an “Optrepreneur” does, and optimizing on a hustle most don’t see, or won’t respond to, create the energy needed to grow and thrive. Get a lot of crazy behind your vision and passion! Your will to help others win has to be the ultimate force behind your “why”.