Avoiding The Commoditization Rat Race To The Bottom

Avoiding The Commoditization Rat Race To The Bottom

Jean-Eric Plamondon was in the scrap metal business where the stereotypical operator is a shady character buying metal by the ton with a blow torch in one hand and a wad of cash in the other.

Plamondon decided he wanted to do scrap metal differently and discovered farmers were keen to clean up their land. Plamondon offered a full-service clean up wherein a crew would tidy up a farm and dispose of all of the excess waste — including the valuable scrap metal. Plamondon got so good that he was buying farmers’ metal for as little as $3 a ton and was turning around and selling it to a smelter for more than $100 a ton.

It was a license to print money, which is why, when Jean-Eric decided to get out, he was able to sell the business to his employees. In this episode, you’ll discover:

  • How to re-position your company to eliminate competitors
  • Where to go for advice when you feel overwhelmed
  • Why possession is 9/10ths of the law in any negotiation
  • The difference between a justice system and a legal system and what this means for your relationship with partners
  • How to systematize your business
  • What a vendor take-back is and what it means to the value of your company

Listen now