Harvesting Auction Opportunities: From Start-Up to Success
In this episode of the No Reserve Podcast presented by BidWrangler, host Tim Peters offers valuable insights and strategies for auction professionals. We welcome today's guest, Linford Berry, founder of Mountain Valley Auction Group, to share his journey from startup to success. Highlighting the role of his background in diverse industries, Berry emphasizes the importance of relationships and trust in the auction business. He discusses his company's growth and evolution over time.
Key Points:
Transition to Online:
Initially aiming for simulcast auctions, Mountain Valley Auction Group transitioned entirely to online auctions in 2019, which proved beneficial during the COVID-19 pandemic, enhancing efficiency and expanding their reach.
Minimal Infrastructure, Maximum Collaboration:
Despite being a small company with minimal infrastructure, Mountain Valley Auction Group thrives through collaboration with other auctioneers and companies. This collaborative approach extends their reach, marketing efforts, and operational capabilities, contributing significantly to their success.
Diverse Background:
A diverse background in various industries — including dairy farming, poultry farming, and landscaping — provided Berry valuable experience and skills applicable to the auction business.
Importance of Relationships:
Berry emphasizes the role of relationships and trust in attracting opportunities in the auction industry, highlighting that many initial auctions came from established connections.
Marketing Strategies:
Benefits of a marketing approach focusing on social media, email marketing, and leveraging customer data to target niche buyers effectively.
Challenges and Rewards:
Time management emerges as a significant challenge due to the multitude of tasks involved in running an auction business. However, Berry finds joy and fulfillment in helping clients and exceeding their expectations.
Quotable Moments:
"People do business with people they like and people they trust."
"Our online auction system has allowed us to be more efficient."
"One of our biggest keys to success has been collaborating with other auctioneers."
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