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[Podcast] Financial Help For Your Team [THA 177]

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Danielle Bohlman is an owner with husband Brett of Highway 7 Service Center in Newell, IA. Find Danielle’s other episodes HERE.

Dave Martin is the Owner and President of Martin’s Auto Repair in Phoenix, AZ. His automotive career began pulling weeds on the shop property then as he got older Dave moved into a station helper and gas attendant. Dave then became the shop manager before taking over the family business from his father in 2006.

Dave married his wife Bo in 1992 and they have an adult daughter, Qamree. Dave bowls, plays over the line baseball, and is a passionate football fan, proudly supporting his lifelong favorite team, The Dallas Cowboys.

Dave was born with Spina Bifida and wants to help others affected and increase public awareness. Elected as Chairman of the Board for the Spina Bifida Association of Arizona in 2012 and has been involved of in its growth through events and fundraisers. Dave also volunteers as a speaker to community organizations and young adults showing how he doesn’t let Spina Bifida keep him from his goals. Find Dave’s other episodes HERE.

Frank Scandura, Franks European, Las Vegas, NV started working on cars as a teenager in upstate New York and moved to Las Vegas in 1988. After years of writing service for Mercedes, he opened Frank’s European service in 2001 and grew to a 12,000-square foot, 10 bay shop in the northwest part of Las Vegas, not far from the famous Strip! He has 15 team members and is partnered with his wife Deborah. From his first immersion, in the business, pumping gas at 15 years old in Orange County New York, to writing service at a Mercedes dealer in Las Vegas Frank Scandura shares his business acumen and offers insights and trends on leadership as a business coach. Frank’s previous episodes HERE.

Drew Horton is a Technician from HWY 7 Service Center in Newell, IA

Key Talking Points:

  • 78% of Americans live paycheck to paycheck - 50% worry about it.  
  • It is a spending problem not an income problem. When people get nice raises over time they never pull out of their spending habits because they always spend more than they makeMany cannot see beyond their next paycheck
  • The amount of pressure at work is high whey you can’t pay your bills and is much less when you have a handle on your spending
  • Many don’t know where their money goesWhen they list what they spend their money on it is an eye-opener
  • Part of the problem is financial institutions offer credit cards, a line of credit, loans. 
  • You can get a car loan for 84 months. That is the only way an affordable monthly payment can be made
  • Shop owners need to share financial responsibility with their people. It is not normal to live paycheck to paycheck
  • Dave was giving an advance on their paycheck and that didn’t help them. He eventually stopped it when he sent his people to Dave Ramsey’s Financial Peace seminar. Find it on the Books Page Here
  • Drew’s marriage is improved as they went through the class last February.They are happier now that they have a money management discipline
  • Frank: A couple with $10K in debt and no savings are twice as likely to get divorced and a couple with $10K in savings and no debt
  • A Ramsey quote: Live like no one else to later you can live and give like no one else
  • As a couple, you need to have one goal as it relates to money
  • Sure use credit cards but you must pay them off every monthCredit card interest and fees is highest you find anywhere
  • In the financial world, there is the FICO scamYou have to have a good credit score scam
  • People borrow to increase their credit score. The dichotomy
  • What are we overspending on?The little things. It all adds up and you do not realize it
  • If you are looking for credit card incentives you tend to spend more
  • People spend money to feel comfortableKeeping up with the Jone’s
  • Thirsty? Spend $4 at Starbucks
  • Going to dinner makes you feel comfortable
  • BOOK FRANK MENTIONED???The Millionare Next Door Find it on the Books Page Here
  • How to start!You don’t have to be great to start you have to start to be great
  • Find the discipline
  • You can climb out, but you’ll need help and gain a commitment to the end
  • Do things tougher as a team to get through your financial strugglesWork together to see debt disappear
  • Similar goals as a couple
  • When Drew and his wife pay off a debt they do it together
  • Dave Ramsey says: If you are broke you can’t help anyone else
  • It is easy to fall of track. It is a mindset, but you can fall off. It requires a strong discipline. It is worth it to continue the lessons to keep you tuned in.
  • DaveRamsey.com can get you started
  • A budget is a big part of financial peace. A budget tells your money where it is allowed to go before it is gone
  • Stop being sick and tired being sick and tired
  • Invest in your people. Pay for a Dave Ramsey class. 

Resources:

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  • Have you checked out Joe's Latest Blog?

    • Joe Marconi
      The Technician Shortage Is Our Fault, And It's Time We Own It
      By Joe Marconi in Joe's Blog
         0 comments
      The Technician Shortage Is Our Fault, And It's Time We Own It
      Nearly every day, I hear shop owners complain: "There's a technician shortage. We can't find qualified people. There's no one out there." If that's true, then who's to blame?
      The industry? The schools? The government? I don't know how you feel, but who promised us an endless supply of qualified technicians?
      Another common complaint is that young people do not want to work in the trades. Well, if that were true, then why are other trades such as HVAC, electrical, and plumbing growing? What are they doing that the automotive industry is not? 
      Here's the reality we need to face: We do have a problem, but we shouldn't look for someone or any entity to rescue us. Not the government. Not the trade schools. Not the recruiting companies. No one owes us a workforce. If we want great people in our industry, it's up to us. At some point, we need to own up to the truth: Building a pipeline of qualified technicians is our responsibility.
      In this blog article, I will break down the key reasons we are in this situation today and what we, as an industry, can do to solve the technician shortage. Are you ready to look in the mirror?
      Have We Pushed Technicians Away?
      Let's take a look at flat-rate pay. True flat rate, which pays a technician only for the hours they produce, is a controversial pay plan that emphasizes high production levels and creates a competitive work environment that, if not properly controlled, can lead to increased mistakes and a decline in morale and team spirit. Additionally, the stress and physical demands placed on technicians as they age are not favorable to long-term employee retention. What do we do with technicians as they grow older into their fifties and begin to slow down? 
      I have heard all the arguments and pros and cons of flat-rate pay, and I am not going to judge any pay plan. Let the facts speak for themselves. True flat rate has changed in most areas around the country and has evolved into a pay plan that gives technicians some pay guarantee.
      Many shop owners have learned that team morale, along with the opportunity to earn income, is important to technicians and to the company's long-term success. But let me ask you: how many technicians have left or been pushed out over the years because of the old flat-rate pay system?
      Another issue is the workplace environment. I remember being grateful to be hired as a young technician at a local repair shop. While very thankful, the work environment was not ideal. The shop owner kept the bay doors open year-round (I am from New York) unless it rained or snowed. He felt that if the bay doors were closed, customers might think we were closed for business. We had no heat and no hot water. Many of the jobs were done outside, year-round,  in all types of weather. The starting pay was minimum wage, with no benefits, sick days, or vacation pay. 
      Now, again, I need to point out that I was truly grateful for the opportunity this shop owner gave me. I learned a lot working there, and the experience was pivotal in my career. But looking back, I wonder how many people were discouraged by these working conditions?
      While the physical demands of the repair workplace are daunting, perhaps even more critical is the culture. Too many of my generation shop owners preached the mindset of "my way or the highway." We were the business owners, after all. We started our companies, took all the risks, and provided jobs. Why shouldn't we be the ones to set the ground rules our way?   
      Many of us found over the years that the "my way or the highway" mentality was a sure way to isolate employees and make them more likely to look over the fence for greener grass. In other words, it led many technicians to seek employment elsewhere, where they felt they could be appreciated and recognized for their hard work. The issue, however, was that there wasn't much green grass around. Disappointment after disappointment, bouncing from repair to repair shop, eventually led to despair. So, I ask you: were workplace conditions a contributing factor in today's technician shortage?
      Another factor that we are all well aware of is the complexity of the modern automobile. When I started, the work was mostly physical, and you were required to master essentially three vehicle models: General Motors, Ford, and Chrysler. Let's fast-forward to today. The evolution of automotive technology, along with the extensive training and tools required, has outpaced the typical technician's pay compensation, with no clear career path. Again, leading to frustration and insecurity about the future.
      Here is the bottom line: people don't leave their job; they leave their experience. We must do a better job. 
      The News Isn't all Bad; Your Next Steps to Fix the Technician Shortage
      To fix the technician shortage, it will take a combined effort from everyone in the automotive industry, particularly automotive shop owners. Shop owners are in the perfect position to make the greatest impact, not only on their businesses but also on the future automotive workforce.
      First, shop owners must become better leaders and understand that their ultimate success is directly dependent on the people they assemble around them. Any shop owner who mistakenly believes they can build an empire solely on their abilities is destined for serious disappointment. Business owners who think like this will eventually plateau. Without the collective contributions from a team of qualified people, your business will stall; it will not continue to grow.
      Create a workplace that attracts top talent: a clean, professional, well-equipped facility designed to support productivity, teamwork, and a career, not just a job. Build a great reputation in your community by getting involved locally. Become the auto repair shop that people take notice of as "the" place to work.
      Next, shop owners must become more financially knowledgeable. Knowing your numbers and what you need to achieve for a strong bottom-line profit is essential to paying technicians the money they need and deserve. Profit will also allow you to compete with other trade industries by providing a benefits package that has real take-home value and security.
      When it comes to culture, this is where the rubber hits the road. People crave recognition, praise, and a sense of purpose. Despite what you hear, people are not just money-motivated. Once people feel secure in their financial situation, retaining and motivating technicians can only be achieved by connecting with them on an emotional level. You cannot show enough appreciation. Give out praise for a job well done as if your business depended on it, because it does.
      As technicians age, we need to have a place for them. Expecting a 58-year-old to perform like a 35-year-old is unrealistic. We need to be more focused on career pathing. Provide training, skill development, and coaching to develop leaders and mentors within our older workforce. While their bodies may have slowed, the knowledge they have gained is priceless. 
      Our future is dependent on young people entering our industry. We need to give more young people opportunities. Every shop owner across the country should consider hiring an apprentice, then build an apprentice training plan and career path for them. If every shop did this, we could solve the technician shortage within five years. Get involved with the trade schools and high schools in your area. Look into the NAPA Apprenticeship Program. Don't sit on your hands with this one. Do it today.
      Lastly, don't get left behind. Commit to ongoing training for all your employees. Keep up to date with tools and equipment tailored to your business model. Don't try to be all things to all people and all vehicles. Identify your core profile customer and the vehicles they drive, and become an expert on those vehicles and the services you offer.

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