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[Podcast] Partnerships [RR 503]


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Mark Roberts is the owner of Roberts Properties, Inc, Managing Partner of Total True Automotive dba Schertz Auto Service, Craftsman Building and Renovation LLC. He is also partnered with a Local Custom Home builder. Mark is also the former owner of Auto Collision Works. He grew up in Schertz and has been a resident since 1969.

Mark also serves on the Board of Directors of Guadalupe Valley Electric Cooperative, Guadalupe Valley Home Services Corporation, and the Guadalupe Valley Economic Development Corporation. Listen to Mark’s previous episodes HERE.

John Long started to gain more interest in vehicles and just after his 21st birthday, he accepted a position working at National Tire & Battery as a service advisor. He knew nothing about tires or vehicle systems and how they worked, but he learned as much as he could.

In 2005, John and his wife decided it was time for a move. He arrived in San Antonio late on a Friday night after driving 24 hours straight and interviewed with Mark Roberts on Saturday morning. Mark hired John, and for the next several years he helped grow the new mechanical repair shop business. Listen to John’s previous episodes HERE.

Key Talking points:
  • Mark Roberts has plans to grow via partnerships
  • It has been beneficial for all parties
  • Mark worked in a collision business and he was told by the owner that he would never partner with anyone, even his children unless they purchased it
  • Mark wanted to create an opportunity for David and John to own a business; to be his partners
  • Succession planning was not in his thoughts when he did this
  • They discovered their compatibility when they started to read Rocket Fuel. (see books page) 
  • Agreements and buy-sell.Will not deal with ex-wives
  • Passing on, the shares come back to company and wife gets bought out
  • Another consideration is incapacitation. They don’t have this clarified yet
  • All partners need to be protected. Too many lives at stake
  • It was tough for Mark to walk out of the shop and not be involved in the day to day
  • When they buy Mark out they may sell a portion of the business to additional partners
  • Consider different levels of responsibility in a partnership agreement
  • Partnerships are not for everyone
  • Many potential partners really don’t know what owners do. You have to plan on grooming, training and coaching them. Pay for the classes they need to learn to be a CEO
  • Mark does a wheel of life once a month with his partners

Resources:

  • Thanks to Mark Roberts and John Long for their contribution to the aftermarket’s premier podcast.
  • Link to the ‘BOOKS‘ page highlighting all books discussed in the podcast library HERE. Leaders are readers.
  • Leave me an honest review on iTunes. Your ratings and reviews really help and I read each one of them.
  • Love what we do, buy a cup of coffee HERE.

Be socially involved and in touch with the show:

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Subscribe to a mobile listening app HERE.

 

 

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Click to go to the Podcast on Remarkable Results Radio

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  • Have you checked out Joe's Latest 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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