(Pdf Download) Junk to Gold
S would evaluate potential acuisition targets based on aspects not seen on the balance sheet intangibles such as how the business was run by a family and these businesses may
#BE RUNNING VARIOUS FAMILY EXPENSES THROUGH THE SALVAGE YARDS #running various family expenses through the salvage yards ve put the passage belowI had the
advantage there IAA bought companies the Wall Street way based on pretax or after tax earnings I had there IAA bought companies the Wall Street way based on pretax or after tax earnings I had own method based on how many cars the auction sold and the value of the land I knew what didn t show p on the balance sheet of a private family owned company that many of these business owners The Rancher and the City Girl used a lot of their profits to buy personal cars or pay salaries and benefits to their family members Many of the businesses werendervalued as a result I paid a little for these businesses but I was also able to see their potential With my operating systems and business model I also knew we could increase profits almost instantlyThe other philosophical difference between Copart and IAA was that IAA purchased the cars from the insurance companies while Copart charged fees to store clean p and sell the cars The advantage of this was Copart could limit. Rational account of this journey to the top including lessons he learned from love war and building a global multi billion dollar business Even at the pinnacle. Fantastic readLoved the book Very inspiring Willis is a rare
Breed And One Who I Very Much What A and one who I admire very much What a story recommend the book This is one of the most nder the radar business biographies from the past decade Willis Johnson Founder of Copart has imparted his business and life lessons into this book which is a great easy to read book with many nuggets of wisdom sprinkled throughout the pages His story is a testament to the power of hard work good values and business common sense While Willis is a simple man
In Many Respects He many respects he has a high school degree many of his principles are sound business practices and competitive strategy I found the ongoing comments regarding IAA CPRT s chief competitor very fascinating for years IAA was considered the biggest company in the salvage space but over time CPRT has taken that crown Willis was constantly playing the long game with respect to his business and as things stand today CPRT is now 4x the size of IAA based on market cap Again there are so many lessons to take away from this book That said if I were to take away one key takeaway I loved how Willi. Junk to Gold is about one man's journey from humble beginnings to Some Like It Hotter unimaginable success Willis Johnson the founder of Copart CPRT offersp a personal and inspi.
characters Junk to GoldIts liability and get a greater percent of earnings
#PER INVESTMENT SINCE THEY WERE PUTTING OUT LESS CASH #investment since they were putting out less cash downside was IAA could show revenue on its books which people on Wall Street saw as having potentialI didn t care though because I knew in the long run it was about earnings The bottom line is what percentage are you making on your
business If we are pulling 30 to 40 percent to their 10 percent we are a stronger company pageIf we are pulling 30 to 40 percent to their 10 percent we are a stronger company page just one other part I particularly liked was how Willis approached buying parts from a liuidation sale at Chrysler this is value investingAfter moving through that inventory I made another trip out to Detroit and decided to give radiators a try They had these big crates of "New Radiators Designed For Volares Aspens And Cordobas Since I "radiators designed for Volares Aspens and Cordobas Since I been in the scrap business I knew that each radiator had five dollars worth of copper in it so I figured I d bid seven dollars each on the lot That way I could sell the radiators and whatever I couldn t move would still get me five dollars off the copper page 56Do yourself a favor and pick More Than a Convenient Bride (Texas Cattlemans Club: After the Storm up this book it s a great beach read you won t regret. Of success Willis remained grounded in his family first values His stories will inspire and provoke the entrepreneur in everyone to start building their dream.