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2024 Outlook with the Aftermarket Radio Network [THA 367]

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Industry experts discuss the future of the automotive industry, focusing on training, technology, and business strategies. They explore the importance of simplifying communication, utilizing video content for customer education, and the benefits of in-person versus virtual training. The panel also discusses the challenges of management training and the need for a holistic approach to business issues, emphasizing collaboration and a positive company culture. The episode provides insights into adapting to economic changes and fostering industry growth through shared knowledge and experiences. Matt Fanslow, Riverside Automotive, Red Wing, MN, Diagnosing the Aftermarket A to Z Podcast Hunt Demarest, CPA, Paar Mellis and Associates, Business by the Numbers Podcast Kim and Brian Walker, Shop Marketing Pros, Auto Repair Marketing Podcast Chris Cotton, AutoFix Auto Shop Coaching, Chris Cotton Weekly Blitz Podcast
Show Notes:
  • Impact of COVID on business (00:02:37) Analysis of the impact of COVID on business performance and consumer behavior.
  • Economic indicators and business mindset (00:06:40) Discussion of economic indicators, including credit card delinquencies, and the importance of mindset in business performance.
  • Influence of external information (00:11:01) The impact of external information on mindset and decision-making within the industry.
  • Proactive vs. Reactive business approach (00:13:35) The importance of a proactive approach and avoiding a reactive mindset in business management.
  • The importance of long-term perspective (00:15:28) Discussing the need to take a step back and wait for trends to play out before making reactive changes.
  • The impact of timing and consumer confidence (00:15:42) Exploring the delayed impact of business decisions and the importance of considering consumer confidence in financial planning.
  • Dealing with business cycles and financial pressures (00:18:03) Understanding the impact of property taxes and the need to avoid overreacting to short-term financial fluctuations.
  • Planning for financial obligations and cash flow (00:19:17) Discussing the importance of planning for taxes and managing cash flow to avoid financial stress.
  • Balancing long-term trends and short-term anomalies (00:19:38) Emphasizing the need to focus on longer-term business trends and avoid getting caught up in short-term fluctuations.
  • Consumer confidence and economic impact (00:20:53) Analyzing the influence of consumer perception and economic factors on business decisions.
  • The importance of video marketing (00:24:05) Highlighting the significance of video content in marketing strategies and encouraging businesses to embrace video marketing.
  • Community involvement and communication (00:29:02) Exploring the value of community engagement and face-to-face communication in marketing efforts.
  • The customer's questions (00:29:56) The importance of answering customer's questions through video and blog content.
  • Technology and future training (00:31:32) Trends in training, including in-person and virtual options, and the need for diverse training methods.
  • Training workforce and team culture (00:33:06) Discussion on the training workforce, the importance of team culture, and the impact of training on company culture.
  • Commitment to training (00:37:39) The commitment of independent shop owners to training and the challenges in getting employees to participate.
  • Virtual training and lunch and learn (00:40:55) The increase in virtual training and the implementation of lunch and learn sessions with virtual trainers.
  • Business management and training (00:42:07) Comparison of business management to car repair, addressing the need for a holistic approach to business issues.

Thanks to our Partner, NAPA TRACS 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/

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 (X): https://twitter.com/RResultsBiz -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         ARN-Website-Banner-July-2022-1200x400-1.

Click to go to the Podcast on Remarkable Results Radio

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  • Have you checked out Joe's Latest Blog?

    • Joe Marconi
      The Toolbox is Last to Leave, First is the Heart
      By Joe Marconi in Joe's 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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