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If you're thinking about transitioning from employee to shop owner, this episode is for you. Instead of guessing your way through the transition, let the Aftermarket Radio Network be your free library of industry peers across the country help you get started the right way.

Maylan Newton, ESI- Educational Seminars Institute, is a business coach, trainer and industry speaker. Maylan's previous Episodes HERE Vic Tarasik, CEO of Shop Owner Coach. Vic’s previous episodes HERE.

Show Notes:

  • A good technician only makes a good business owner with proper training, guidance, and accountability.
  • You need these 5 professionals- business coach, accountant, financial planner, insurance advisor, attorney
  • Build the business that survives you and provides a legacy to your family the business is not about you is about all the people that depend on the business for their survival, family employees vendors
  • Most importantly, do not treat your business as a hobby you not fixing cars running a business
  • The business owner is the leader, not to fix cars/writing service
  • “People are so afraid of success, that when they reach success they self-destruct.”
  • Not paying yourself opens the door to resenting the business. 
  • What is YOUR cost of doing business?
  • Don’t let the high level of confidence in fixing cars create a false sense of security in solving all things in business.
  • Ask questions of the right individuals- someone with experience who’ve successfully overcome what you have in front of you
  • “Implementation of knowledge is power.”
  • Focus on the fundamentals from the beginning 
  • “Begin with the end in mind” (Covey)- Now that your journey has begun, what is your endgame? 
  • “Life begins and ends at the edge of your comfort zone”
  • Pay your taxes- set up a system where deductions from

 

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Important Books

Check out today's partners:

 

Shop-Ware: More Time. More Profit. Shop-Ware Shop Management getshopware.com

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Delphi Technologies: Keeping current on the latest vehicle systems and how to repair them is a must for today’s technicians. DelphiAftermarket.com ARN-Website-Banner-July-2022-1200x400-1.

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  • Have you checked out Joe's Latest Blog?

         0 comments
      It 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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