Application of business concept could keep Auctioneers competitive, profitable

One of the major concepts from “Give Me Five, Now Ten … Years Into the Future,” a white paper produced by the Council on Future Practices, is Opportunity Agility.

But what is Opportunity Agility, and how can National Auctioneers Association members apply the idea and use it successfully within their businesses?

Stephen Karbelk, CAI, AARE, a member of the 11-member Council who coined the term, says Opportunity Agility is not just about diversifying an auction business. It’s not simply about Auctioneers becoming, or retaining their roles as, jacks of all trades.

Instead, an Auctioneer who uses Opportunity Agility is open to new opportunities, says Karbelk of National Commercial Auctioneers, Tulsa, Okla.

He doesn’t attempt to micro manage every piece of the business. She finds a niche in her specialty. He doesn’t let tradition stand in the way of progress. She applies constant innovations to her auction services.

To better understand Karbelk’s suggestions for the application of the concept, it’s probably best to first explain how the Council defines and uses Opportunity Agility in its paper.

The NAA printed “Give Me Five, Now Ten … Years Into the Future” in the June/July issue of Auctioneer, and it is available in the Member Resources section of Click on the Downloads link to find it.

The paper focuses on macro-level trends its authors believe will have a significant effect on the auction business in the next five to 10 years. These trends are economic uncertainty, technology, the “freemium” concept and government regulations.

Opportunity Agility seems to provide the paper with overriding direction as it relates to these trends.

For example, auction companies, according to the paper, have a unique advantage in the marketplace because they can quickly enter new markets to offer various services, such as liquidations. Auction professionals have the advantage of flexibility given that they have the opportunity to stay ahead of trends that can help them build their businesses.

Opportunity Agility will keep Auctioneers “competitive and profitable during all economic cycles.” The most successful auction companies, the paper says, “will be those that can change to take advantage of new opportunities that emerge as a result of uncontrollable macro-level influences.”

Following the paper’s discussion of the macro-level trends and how they might affect Auctioneers, the industry and the NAA, the document dives into how auction professionals can apply Opportunity Agility.

Learn how to apply the concept. Read the complete story in Auctioneer magazine.


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Filed under Auction Industry, Auction marketing, Auctioneer magazine, Education, NAA Members

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