For What It's Worth

Business Wisdom from a Pawnbroker

By: Les Gold

Narrated by: Walter Dixon

Businesses these days talk a lot about figuring out what the customer wants. Well, here's your first lesson: the customer doesn't know what he wants. This book is going to show you how to convince him he wants the thing you're selling.

Les Gold has been in business since age 12, when he started selling used golf clubs from his dad's basement. Now he owns Detroit's biggest pawnshop, American Jewelry and Loan, and is the star of the hit reality TV show Hardcore Pawn.

As a third-generation pawnbroker, Gold grew up in the business, dealing with customers who could be unruly and violent as often as they were friendly. He became good at selling just about anything and at buying items for what they were worth. Although he started at his family's small pawnshop, he has now expanded into a 50,000-square-foot former bowling alley, making 1,000 deals a day.

On any given day, he could be taking a vintage car in to pawn or chasing down a thief who's just stolen a gold chain from the store. No business school in the world can teach you as much about buying, selling, negotiating, managing employees, dealing with customers, advertising, tracking trends, and predicting the economy's ups and downs.

You will learn:

• How to tell an emotional story when you're selling - and take emotion out of the transaction when you're buying.
• Why judging your customers before you know them can kill a potential deal
• How to deal with risk, both mental and physical
• How to communicate with employees (even if they're your own kids)
• Why investing in relationships with your community is time well spent
• Why your business should never be limited by what others tell you it should be

No place in the world prepares you better for the working world than a pawnshop, and Les Gold takes you inside his shop to share what he's learned from 55 years in the most interesting job in the world.

©2013 Les Gold (P)2013 Gildan Media LLC

Critic reviews

"Since his first appearance on Good Afternoon America in the summer of 2012, Les has quickly become one of my favorite guests, in the mornings and the afternoons. I often call him 'our own Santa Claus,' for the joy he gives people by showing them the wealth they didn’t know they had. Les's years of experience have given him a business acumen that stretches far beyond the pawnshop - and this book is a must read for anyone who wants to create their own success in any business." (Jost Elliot, news anchor, ABC’s Good Morning America)

Enjoyable

If you could sum up For What It's Worth in three words, what would they be?

A driven ethical view of life.

What other book might you compare For What It's Worth to and why?

Business Brilliant

Which scene was your favorite?

The entire book was wonder listening, I hope Les Gold writes more books.

Did you have an extreme reaction to this book? Did it make you laugh or cry?

A reflection on family and business

Any additional comments?

Great book, hated to see it end.

Excellent book about the fundamentals of business!

Would you listen to For What It's Worth again? Why?

Absolutely. Sound business advice from the importance of selling, staying true to your mission, and putting family first. It was the most surprising audiobooks I've ever listened too. I wasn't expecting much, but it turned out to be pretty good!

What did you like best about this story?

I liked the author's humility with a troubled relationship with his father, his advice about fear and how to use it to your advantage, and allowing his staff to make mistakes to become a better company. It made me an instant fan of his television show even though I have never seen more than three episodes.

What does Walter Dixon bring to the story that you wouldn’t experience if you just read the book?

Walter Dixon narrates a great book and kept it lively. He's one of Audible's top narrators from my listening experience.

Was this a book you wanted to listen to all in one sitting?

Yes.

Any additional comments?

This is good advice for any young managers or new salespersons. Solid advice about fear, integrity and commitment to excellence. All meat no BS.

Not what I expected

Would you try another book from Les Gold and/or Walter Dixon?

I didn't find this book as interesting as I had anticipated. I might consider reading other materials by the authors, but that would depend on the topic.