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Joe Marconi

Management
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Everything posted by Joe Marconi

  1. Joe Marconi
    Nice! Good you you! This is a lesson for other shop owners, that's why this is such an important topic! Thank you for sharing, and what an amazing looking shop in a beautiful area!
  2. Joe Marconi
    Agree Frank, and to add to that, for the most part too many people in our industry have been underpaid for too long, and that includes the shop owners too. I also agree that being the cheapest guy in town is a sure way to go out of business. We are not mass-marketers, we are a specialized group of professionals with a lot of associated costs of doing business. We need to charge what we are worth.
  3. Joe Marconi
    Nice Mason! it is truly inspirational to see how so many shops are doing the math, looking at their operating expenses, and payroll, and increase their labor to what's needed to earn a profit!
  4. Joe Marconi
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  5. Joe Marconi
    5 star Ralph.jpg
  6. Joe Marconi
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  7. Joe Marconi
    Auto-repair-mahopac-new-york.mp4
  8. Joe Marconi
    Auto-repair-classic-cars-mahopac-new-york.jpg
  9. Joe Marconi
    What do you do when one of your techs say, "Hey boss, the shop down the street just offered me $5.00 more an hour than what you are paying me." This actually happened recently to a fellow shop owner friend of mine. And, it's happening a lot more these days due to the tech shortage. Do you match it? Do you sit down and talk to the tech, persuade him or her to stay because money is not everything? Or do you tell the tech, make your own decision? Or, do you put a plan together TODAY to avoid this from happening in the Future? Your thoughts?
  10. Joe Marconi
    Bantar, I think that having a plan, like the one you have, is moving in the right direction. While you identify some of your weak areas, you do have a plan, and it's though through. One thing I really like is when you say, "Auto Repair is not really discount driven. It's mostly a trust business." To follow up with this, our best strategy is what we do each and every day, build trust through strong relationships. Great discussion!
  11. Joe Marconi
    Wow! Talk about words of wisdom! Thank you for sharing. You gave a credible and critical argument for building wealth for your retirement. Shop owners, please listen.
  12. Joe Marconi
    Frank, at 69 you need a plan. But, thankfully you have investment money and the property. I know shop owners that have not saved and rented their entire business career. They end up with nothing, and it is sad. This is a hard business, and anyone in it should enjoy the fruits of their labor. WORK ON A PLAN- ENJOY LIFE. I will be 67 years old in a few weeks. 41 years in business was enough. And I will still do my coaching, this site and other things to keep busy.
  13. Joe Marconi
    Wow, you have a lot of certifications under your belt. You know, thinking about it, do we question our doctor? Or dentist for their certifications and education. My dentist recently retired, and I was referred to a new dentist. I checked the on line reviews, like everyone else. I don't have a clue if she was last in her class or what! I agree to that ASE may mean something to us, but public recognition. No.
  14. Joe Marconi
    Well, you have a few good reasons not to! Happy to see business is good!
  15. Joe Marconi
    Every shop owners wants to continue to grow their business, and that means that one of the strategies is to attract new customers to replace the customers we lose. By the way, all businesses lose customers for a variety of reasons: They move away, buy a car model you don't work on, they may pass away, etc. The question is, how do you attract new customers? Do you use discount coupon marketing or rely on brand awareness strategies, or a combination of both?
  16. Joe Marconi
    Step 8- Don’t Rely on the Sale of your Business for your retirement I know this sounds contradictory, but the proceeds from the sale of your business may not be enough to financially support you into retirement. Your business must be profitable while you are in business and must financially support the things you want to do and need to do, while you are in business. However, to expect a big payout from the sale of business to secure your financial future in your retirement years is not advisable. Here’s what I suggest. Build wealth while you are in business. Whether that’s investing in real estate, through an investment portfolio or by establishing a retirement account. In other words, you need to sit down with a qualified financial advisor and plan out what you will need in retirement and build up the cash needed to support that. The proceeds from the sale of your business should be a bonus for you. Something to feel proud and will allow you to enjoy the years of hard work and dedication you had to your customers, employees and your community. One last thing, if you own your property, this opens up different opportunities. You can sell the property or lease it back to the buyer. For this, you will need to sit down with your accountant, a real estate attorney and your financial advisor. Stay tuned for Step 9!
  17. Joe Marconi
    You make a great point. Years back I hired a tech from Greece that moved to the USA. His trade was Undercar. He went through extensive training and certified in that one area. Other trades are highly specialized, and perhaps as you say, we should take a look and learn from the other trades.
  18. Joe Marconi
    You bring up very valid points. I also agree that the auto repair/service industry needs some sort of qualifying criteria. And you are right, cutting hair and performing a brake repair are two completely different animals in terms of what can result if not done properly. The question is, and has been for a long time: If ASE could not achieve the consumer awareness that's needed, then what will?
  19. Joe Marconi
    Step 7 - Who Will You Sell Too? One of the decisions you will eventually need to make is who you will sell to. If you intend to sell to a family member or an internal employee, then you need to establish a plan to prepare this person for the role of shop owner. A 20-year veteran technician, with no training or experience in how to run a business is a disaster waiting to happen. Create a plan to ease this person into the position of ownership. One thing to be very careful of; make sure that your desire to have this person take over your business is his or her desire too. Get this person invloved with management training, financial training, leadership training, and all the other components on how to run a business. And you should consider getting a business coach. If you intend on selling to a qualified outside buyer or company, then you need perform your due diligence, speak to a broker or a company that has experience in selling automotive repair shops. Please be careful with brokers, many business brokers require an exclusive contract for a period of time, and may make promises to you that seem too good to be true. Lastly, spend time and thing this through. There are many ways to structure any deal. The more you prepare, the better off you will be its time to sell. Stay tuned for future articles on your Exit Strategy!
  20. Joe Marconi
    It sounds like you have determined your true business model and your strengths. I believe this is key to be efficient, which leads to success.
  21. Joe Marconi
    LAST CALL TO SIGN UP FOR THE Elite MASTER'S COURSE- THE VERY BEST IN SERVICE ADVISOR TRAINING. Class to be held March 3-5 in San Diego! For more information, click the link below: https://eliteworldwide.com/.../service.../mastersprogram/
  22. Joe Marconi
    I don't think you are being negative. We need to hear all sides, that's how we learn and grow. For me, I would like to see something that tells the world we are a profession. However, in spite of the legacy of ASE, not many consumers know what it is. I would really like to hear how others feel about ASE certifications. Good, bad, needed, not needed?
  23. Joe Marconi
    Sears had a legacy behind it. When they put quota and profit ahead of integrity, it shook up the company to a point where it could not recover. Sears at one big thing that many auto companies did not have at that time....A vast customer database. Sad, but a lesson for all.
  24. Joe Marconi
    50 years! Wow! That fact alone means other shop owners should pay attention to your post. It all comes down to what fits your business profile, and no other shop owner can you what's right or what's wrong. With that said, I do agree with you that being everything to everyone is a setup for disaster. Great discussion everyone!
  25. Joe Marconi
    I think as a society, we need to distinguish between what's entitlement and what is earned. When employees feel that they are entitled to something, the incentive to produce and grow within the company they work for is diminished. And that puts too much pressure on the other workers to maintain production, especially on smaller businesses. I am all for family time, and personal time. However, what we do on a daily basis, shop owners and employees, should enrich our lives. And the work we do must have purpose and be part of WHO we are. We need to be proud of the work we do and work hard, not seek ways to run from it. Everyone needs to contribute to the success of the company they work for.

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