The 10 Rules For Selling Your Transmission Shop (or any shop for that matter)
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By Joe Marconi in Joe's Blog0 commentsIt always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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By Changing The Industry
Why Trusting Our Services Makes All the Difference #podcast #autorepairbusiness #automotivebusiness
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By Joe Marconi
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By Joe Marconi
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By carmcapriotto
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network 'Business by the Numbers' Podcast host Hunt Demarest discusses common financial mistakes, emphasizing the importance of building long-term wealth through prudent financial management and investment. The conversation covers managing personal and business expenses, the impact of government programs, and the necessity of maintaining financial reserves. Hunt Demarest, CPA, Paar Melis and Associates, Hunt's previous episodes HERE Business by the Numbers Podcast Show Notes
The Brakes for Breasts initiative (00:00:01) https://www.brakesforbreasts.com/ Rich vs. Wealthy (00:03:09) The distinction between being rich and being wealthy and the financial habits of wealthy individuals. Money Mistakes and Business Finances (00:04:55) Common money mistakes made by business owners and the importance of long-term wealth building. Personal and Business Expenses (00:06:09) The impact of blending personal and business expenses and its effect on financial statements. Year-End Financial Review (00:09:14) The importance of assessing business finances at the end of the year and avoiding unrealistic financial judgments. Impact of Government Programs (00:10:33) The impact of government programs on business profitability and the potential consequences of misusing funds. Business Trends and Demand (00:11:53) Analysis of business trends, demand, and the need for realistic profit expectations in the automotive industry. Cash Flow Management and Reserves (00:13:59) The importance of cash flow management, emergency funds, and the role of credit lines in business financial planning. AAPEX 2024 Registration (00:17:37) https://www.aapexshow.com/ NAPA TRACS Shop Management System (00:18:47) http://napatracs.com/ Labor Rate Tracker (00:19:53) http://LaborRateTracker.com Managing Credit Lines (00:20:48) Discussion on managing credit lines, including the importance of using and managing credit effectively. Cash Management and Financial Statements (00:21:49) Insights into managing physical cash, reconciling financial statements, and the importance of accountability. Overspending and Budgeting (00:23:59) Discussion on avoiding overspending, budgeting investments, and making decisions based on return on investment. Insurance and Protection (00:26:42) Importance of having the right insurance coverage and protecting assets and future liabilities. Return on Sales and Advertising (00:27:46) Explaining the concept of return on sales and the importance of evaluating advertising spending based on return on investment. Bookkeeping and Financial Timeliness (00:29:30) The impact of timely and accurate bookkeeping on business performance and decision-making. Cash Flow and Long-Term Planning (00:34:53) Emphasizing the importance of cash flow, reserves, and long-term planning for business sustainability and retirement. Joining a Networking Group (00:37:07) Encouragement to join a networking group and the value of continuous learning in the aftermarket industry. Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections
Click to go to the Podcast on Remarkable Results Radio
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