EV Fire Safety: Exploring Risks and Solutions [RR 869]
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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
Unraveling the Dark Secrets of the Durham Family Murders #podcast #autorepairbusiness
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By carmcapriotto
The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo:https://shopmarketingpros.com/chris/
Check out their podcast here: https://autorepairmarketing.captivate.fm/
If you would like to join their private Facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
In this episode of "The Weekly Blitz," host Chris Cotton delves deep into his transformative journey of acquiring and revitalizing an auto repair shop, aptly named "Project Alpha." Chris begins by recounting the initial stages of the acquisition, where he meticulously navigated the complexities of negotiating a fair purchase price. He shares insights into the due diligence process, highlighting the importance of thoroughly assessing the shop's financial health, customer base, and market position.
Chris candidly discusses the myriad challenges he encountered, such as overcoming deeply ingrained outdated practices that were hindering the shop's growth. He emphasizes the critical role of understanding business financials, not just from a surface level but diving into detailed profit and loss statements, cash flow analysis, and identifying areas of financial leakage. Recognizing the true value of the business was pivotal, and Chris explains how he assessed both tangible and intangible assets to ensure he was making a sound investment.
One of the key strategies Chris employed was leveraging the strengths of the existing staff. He talks about the importance of conducting thorough evaluations to understand each team member's skills and potential. By aligning their strengths with the shop's goals, Chris was able to foster a more cohesive and motivated workforce.
Chris also shares the innovative changes he implemented to breathe new life into Project Alpha. He discusses the significance of enhancing marketing efforts, from revamping the shop's online presence to engaging with the local community through targeted campaigns. Adopting new technologies played a crucial role in streamlining operations and improving customer service. Chris provides examples of specific tools and software that helped increase efficiency and track performance metrics more effectively.
Throughout the episode, Chris offers valuable lessons and practical tips for current and aspiring auto repair shop owners. He underscores the importance of continuous learning and staying adaptable in an ever-evolving industry. By sharing his experiences and the strategies that led to Project Alpha's success, Chris aims to inspire and equip listeners with the knowledge and confidence to achieve business growth and effective management in their own ventures.
Introduction to Project Alpha (00:00:05)
Chris Cotton introduces the podcast and the journey of acquiring an auto repair shop named Project Alpha.
Finding Project Alpha (00:01:04)
Chris shares how he discovered the auto repair shop and its potential for revitalization.
Valuation Challenges (00:02:07)
Discussion on the shop's outdated processes and the owner's unrealistic valuation of the business.
Negotiation Stalemate (00:03:16)
Chris recounts his attempts to negotiate a fair price and the owner's resistance to change.
Understanding True Value (00:04:16)
Exploration of the importance of recognizing the actual worth of the business and its inventory.
Sticking to Your Guns (00:06:19)
Chris emphasizes the importance of knowing your numbers and being prepared to walk away from a deal.
Owner Financing Agreement (00:08:24)
The owner agrees to financing, enabling Chris to acquire the shop while managing cash flow.
Initial Cleanup Efforts (00:09:33)
Chris discusses the extensive cleanup and improvements made upon taking over the shop.
Website Development (00:10:34)
Plans for a new website to enhance the shop's online presence and marketing efforts.
Improving Average Repair Orders (00:11:48)
Chris details the increase in average repair orders after implementing new marketing strategies.
Implementing Inspection Processes (00:12:55)
Introduction of a digital vehicle inspection system to enhance customer service and care.
The Hidden Gem: Staff (00:14:01)
Chris highlights the incredible adaptability and importance of the existing staff in the turnaround.
Key Takeaways (00:15:11)
Chris shares valuable lessons learned during the acquisition process and the significance of staff.
Future Plans for the Shop (00:16:08)
Outline of strategies to implement processes and technology in the shop for continued growth.
Conclusion and Call to Action (00:17:06)
Chris encourages listeners to reach out for guidance in buying or selling auto repair businesses.
Connect with Chris:
[email protected]
Phone: 940.400.1008
www.autoshopcoaching.com
Facebook: https://www.facebook.com/
AutoFixAutoShopCoachingYoutube: https://bit.ly/3ClX0ae
#autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros #autofixautoshopcoachingbook
Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
Rapid Fire Questions with Tracy Capriotto!
Thanks to our Partner, NAPA Autotech
NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.
Contact Information
Email Matt: [email protected] Diagnosing the Aftermarket A - Z YouTube Channel
The Aftermarket Radio Network: https://aftermarketradionetwork.com/
Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/
Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/
Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/
The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/
The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/
Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/
Click to go to the Podcast on Remarkable Results Radio
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The Race to Electric: How Chinese Manufacturers are Changing the Game for Legacy Automakers [RR 989]By carmcapriotto
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Derek Kaufmann, managing partner at Schwartz Advisors, to discuss the transformative changes in the automotive industry, particularly the rise of electric vehicles (EVs) and the influence of Chinese manufacturers. Derek shares insights on China's significant investments in EV technology and battery production, highlighting their impact on global market dynamics. The conversation also covers the challenges faced by legacy automakers in the U.S. and Europe, the competitive landscape of EVs, and the future of the automotive market. Derek Kaufman, Managing Partner, Schwartz Advisors, Listen to Derek’s previous episodes HERE. Show Notes
China's Market Impact (00:01:54) Derek predicts a complete transformation of global car markets due to Chinese competition in the next five years. Strategic Moves by China (00:03:16) Discussion on China's investment in EV battery minerals and production, establishing dominance in the EV market. Chinese EV Companies (00:04:37) Derek explains the reduction of Chinese EV companies and the emergence of viable players in the market. Chinese Exports and Global Competition (00:06:02) China's rise as the top auto exporter and the implications for U.S. brands in global markets. Sales Forecast and Market Shares (00:07:44) Overview of global vehicle sales, emphasizing China's significant market share and future growth potential. Comparative Vehicle Design (00:08:44) Discussion on the superior vehicle design and technology of Chinese manufacturers compared to U.S. automakers. Tesla vs. Chinese Competitors (00:10:21) Derek compares Tesla's Model Y with the Chinese XPeng G6, highlighting differences in pricing and technology. Future of Domestic OEMs (00:16:30) Concerns about the future competitiveness of U.S. and European automakers in light of Chinese advancements. Lessons from the Past (00:18:25) Derek draws parallels between the current situation and the 1970s Japanese auto market entry. Embracing Chinese Manufacturing (00:21:01) Derek advocates for U.S. collaboration with Chinese manufacturers to enhance competitiveness and consumer choices. Toyota's Hybrid Strategy (00:22:18) Discussion on Toyota's shift to hybrids and the importance of Tesla in the EV market. Elon Musk's UFO Development (00:22:51) Derek shares a fascinating claim about Elon Musk's development of a high-speed UFO at SpaceX. The Importance of EV Training (00:23:38) Emphasis on the necessity for aftermarket shops to embrace EV technology and training. Derek Kaufmann's Insights (00:24:37) Carm expresses appreciation for Derek's vision in the automotive industry and suggests future discussions.
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: -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -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 X: 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 -Special episode collections: https://remarkableresults.biz/collections
Click to go to the Podcast on Remarkable Results Radio
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By Changing The Industry
Jeep Wrangler Coolant Leaks: What Every Owner Must Know #podcast #podcastclips #autorepairbusiness
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