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Jack Schrock’s Blog

Diversity

Jan 8th, 2016 | By | Category: Jack Schrock's Blog

There was a large midwestern mail order firm that favored new products. When they found a new gizmo they bought a quantity (at fair market price) to test the market. With good sales they reordered again and again until the supplier had extended himself financially […]



People

Dec 30th, 2015 | By | Category: Jack Schrock's Blog

Without a doubt, the most important single thing you can do to grow your business is to hire only “good” people. That means you should avoid cheap help because they are always looking for a better job and/or other ways to earn more money. The […]



Community Property

Dec 21st, 2015 | By | Category: Jack Schrock's Blog

 Twenty five years ago a friend’s son married and went into business the same year. He called on me for some recommendations for organizing his business affairs. I spent several hours with him in order to better understand his needs and then gave him a […]



Attitude

Dec 4th, 2015 | By | Category: Jack Schrock's Blog

Our attitude has more to do with our success than anything else. Our attitude speaks volumes about who we are, how we treat people and how we will fulfill our promises. Here’s an example: the Tow Boss has been up all night working a wreck […]



Limiting Liabilities

Nov 20th, 2015 | By | Category: Jack Schrock's Blog

First, you need to speak to an attorney about separating business from personal and then protecting both. Also, if you have a partner, you each need to be insulated from the acts of the other because if your partner dies or becomes incapacitated, you could […]



Non-Productive Labor

Nov 13th, 2015 | By | Category: Jack Schrock's Blog

When I first joined the Holmes Company I noticed how many “drivers” came rushing out to see the new demo I was driving. They checked out this and that — pulling levers and flipping switches — all without me saying a single word. Indeed the […]



Protecting Assets

Nov 6th, 2015 | By | Category: Jack Schrock's Blog

When you first go into the towing business you’re probably making payments on equipment, vehicles, perhaps even real estate. You are, as they say, “upside down” which means you owe more than you’re worth. And being broke is not a bad thing because that also […]



Nepotism versus Key Employees

Oct 30th, 2015 | By | Category: Jack Schrock's Blog

In a father-son business like ours, it’s easy to give the son all the breaks while overlooking some outstanding employees. One problem with nepotism is that it combines business with family to the point that they become one in the same. And when that happens, […]



Luck

Oct 23rd, 2015 | By | Category: Jack Schrock's Blog

Success in any human endeavor largely depends on our ability to seek out and correctly analyze the facts and then take appropriate action. In T & R towers routinely respond to the needs of their respective markets by offering the appropriate services in a timely […]



Catch that Call

Oct 9th, 2015 | By | Category: Jack Schrock's Blog

From the gitgo, T & R was never intended to be a stand-alone business. In our early history, towing equipment was often skid mounted and stored in the corner of the garage. When a tow call came in the driver would hoist the skid onto […]