From Diesel to Dollars: Building a Better Shop [RR 977]
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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 Joe Marconi
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By bantar
I attended my first ever industry management conference. What a great experience. If you've never gone, I would encourage you to add it to your do-now bucket list. There was a lot of open and detailed sharing. For example, in a work session talking about bay efficiency analysis, they used real numbers from the audience. Monthly Overhead, Gross Profit Percentage, desired bottom line profit. It showed multiple paths to success that were immediately relatable.
None of the presentations were about perfection. As a matter of fact, most presenters shared information about how they did things stating that this may or may not apply to your situation. No one told you what to do, but rather offer tools for analyzing your own situation. None of the presenters were making sales pitches.
In other sessions, real shop owners share tips and techniques on a number of topics that we see here. Being a live event, these were more dynamic conversations.
I've returned from the conference with a renewed sense of urgency analyzing my numbers to see where we had success and where we need to improve. I do expect to make real changes, but don't yet know exactly what changes I'm going to make. Got to crunch some numbers first.
I signed up for the conference when it was first published, but sat on the CC screen for a while debating the value of this conference. Should I go, or should I stay? I reluctantly pushed the GO button. However, looking back, I should have enthusiastically smashed that GO button!
The next one is in Denver. I recommend that you consider attending.
A side benefit is that I got to meet Joe Marconi and in a session that we jointly attended, I overheard Joe say that he was mentored by Jerry Holcom. Later in the conference, I had the pleasure of talking with Jerry as well. In the many networking sessions, we met many different shop owners and had great conversations.
--brian
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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, Coach Chris Cotton from Auto Fix Auto Shop Coaching delves into a range of strategies designed to help auto repair shop owners elevate their business operations through the implementation of the "Profit First" methodology. This approach is centered around the critical aspects of cash flow management, profitability enhancement, and the adoption of effective financial practices. Chris underscores the significance of establishing separate accounts specifically for profit, taxes, and operating expenses to ensure a clear and organized financial structure. He also highlights the necessity of having supportive financial partners, such as banks and accountants, who can provide valuable guidance and support.
Furthermore, Chris encourages shop owners to take proactive steps towards improving their financial health by engaging with educational resources, such as watching a webinar or seeking additional guidance tailored to their specific needs. This episode is proudly sponsored by Shop Marketing Pros, a company dedicated to providing specialized marketing strategies aimed at boosting the visibility and success of auto repair shops. Through their sponsorship, Shop Marketing Pros underscores their commitment to supporting the growth and development of businesses within the auto repair industry.
Introduction to the Episode (00:00:04)
Coach Chris Cotton introduces the podcast and its focus on auto repair business strategies.
Importance of Profit First (00:01:01)
Chris discusses the significance of adopting the Profit First mentality for auto repair businesses.
Webinar Promotion (00:02:20)
Information about an upcoming webinar on implementing the Profit First system is provided.
Understanding Cash Flow (00:03:24)
The necessity of managing cash flow for successful auto repair operations is emphasized.
Challenges with Traditional Accounting (00:04:35)
Critique of traditional accounting methods and their inadequacy for auto repair shops.
Profit First Methodology Explained (00:05:46)
Overview of the Profit First approach and its application in the auto repair industry.
Setting Up Separate Accounts (00:06:58)
The importance of establishing separate accounts for profit, taxes, and expenses is discussed.
Bank and Accountant Collaboration (00:08:02)
Challenges in getting banks and accountants on board with the Profit First system are explored.
Incorporating Dave Ramsey's Principles (00:10:16)
Integration of financial control principles from Dave Ramsey is highlighted for better financial management.
Results of Implementing the System (00:11:27)
The positive outcomes of using the auto shop profits and cash flow system are outlined.
Call to Action (00:14:44)
Chris encourages listeners to take proactive steps in managing their shop's finances effectively.
https://autoshopcoaching.com/
https://connect.autoshopcoaching.com/profits-cashflow-webinar-form
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
Thanks to our Partners, NAPA TRACS, AutoFix Auto Shop Coaching, and Today's Class Dive into the latest trends in the automotive industry, including capital allocation, AI integration, customer service evolution, and challenges with parts availability. Featuring industry thought leaders Jason Stretch, Scott Brown, Chris Jones, and Seth Thorsen, this discussion covers how shops can navigate financial hurdles, embrace new technologies, and enhance their customer experience. Show Notes
Capital Allocation Discussion (00:02:36) Scott Brown explains capital allocation and its significance in maximizing business returns. Bank Relationships and Strategies (00:05:07) Panelists share insights on managing bank relationships and loan covenants. Alternative Capital Raising Strategies (00:06:07) Alternative ways to raise capital beyond traditional loans. AI in Shop Operations (00:07:14) AI's role in improving shop operations and training. AI's Impact on Customer Interaction (00:10:36) AI's integration in customer service and operational efficiency. Educating Technicians on Job Opportunities (00:13:26) Panelists emphasize the need to educate technicians on job environments and growth. Shift from Training to Education (00:14:14) The importance of reframing "training" to "education" for greater impact. Long-term Education vs. Short-term Training (00:15:42) The distinction between education and training in the industry. Valuing Human and Intellectual Capital (00:16:12) The importance of human and intellectual capital for business success. Training Seminars and Technician Education (00:17:31) Discussion on the need for education seminars to help technicians diagnose issues effectively. EV Support and Safety Certification (00:18:56) Importance of safety certifications for technicians working on electric vehicles before providing assistance. Parts Availability Post-COVID (00:21:39) Challenges in sourcing parts for older vehicles since the COVID pandemic began. Customer Experience and Expectations (00:23:11) The evolving customer experience and how shops must adapt to meet modern expectations. Speed of Service (00:24:50) Discussion on the critical importance of speed in service to meet customer demands. Communication with Customers (00:26:16) Emphasis on the need for clear communication to manage customer expectations effectively. Cultural Shift in Auto Shops (00:29:07) Adapting shop culture to prioritize relationships and customer service in a competitive market. Sophisticated Customer Service (00:30:11) Expectation of high-level service from customers, particularly in the luxury car segment. Adapting to Customer Demands (00:32:02) Need for businesses to modify operations based on customer surveys and feedback. Importance of Communication in Service (00:33:13) How effective communication can alleviate customer anxiety and improve service experiences. Trends in Tools and Technology (00:34:37) Discussion on the rapid development of new tools and training requirements in the automotive industry. Remote Diagnostics Capabilities (00:35:30) Exploration of Tesla's remote diagnostics and the potential for other manufacturers to adopt similar technologies. Trends in Electric Vehicles (00:37:09) Insights on the growing trend of remote diagnostics in electric vehicles and its implications for the industry. Embracing Technology for Shop Owners (00:38:28) Encouragement for shop owners to learn and embrace technology to improve operations and customer service. Training and Education Needs (00:39:06) Highlighting the increasing importance of education and training in the automotive service industry. Flexibility and Business Adaptation (00:40:03) Discussion on the necessity for shops to adapt to changing financial and operational practices in a competitive market. Murdering Sacred Cows (00:41:01) Emphasis on the need for innovation and change in practices to keep up with rapid technological advancements. 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/ Thanks to our Partner, Auto-Fix Auto Shop Coaching Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.com/ Thanks to our Partner, Today's Class Optimize training with Today's Class: In just 5 minutes daily, boost knowledge retention and improve team performance. Find Today's Class on the web at https://www.todaysclass.com/ Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -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 X (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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