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I just went by the auto parts store to get parts (yes, working late again tonight) and hit my charge credit limit for the second time this month. I just looked at the numbers and I am already over for this year the total of what I did all of last year. Very excited about that one and thought I would share with those who would understand. I moved into a bigger building the last two months of last year so I had to make more but never anticpated this much.

Posted

Your parts store doesn't give open credit? Even when we were a new shop, we opened accounts with O'Reilly's and CarQuest. Need to

check on this.

Posted

Our other vendors which are all high performance vendors are basically C.I.A. (cash in advance) with credit cards. I don't know why you have to fill out a credit app when we are paying with a credit card. The main problem with these vendors is they check your credit anyway and ding your credit score. Then, when you ask the credit cards for a higher line, they say we had too much checking of our credit. It is a vicious circle.

 

We were running out of credit line with the old credit card and had to up the line to 20K. But even at this line we are constantly paying down on the balance. Also, I occasionally put some items on my personal AMEX card. Lots of creative financing to increase cash flow.

 

I think i am going to ask Mr. Obama for a loan on Tea Party letterhead. :D

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  • Have you checked out Joe's Latest Blog?

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      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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