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[Podcast] RR 449: Maryann Croce – What Advice Would You Give a New Business Owner? Will this advice benefit the established business person?


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Ask Maryann Croce! What advice would you give a new business owner? Will this advice benefit the established business person?

Would you like some advice on starting a business. What if you could apply this advice to your established business. With me is Maryann Croce from SmallBusinessvantge.com. She and her husband Tony also own Croce Transmission in  Norwalk, CT. 

As a business owner, she can chalk up many a mistake that has turned into wisdom. She has been there and done that and shares 5  key principles to help a startup business person get ahead of the game. She is speaking to resilience, commitment, getting help, being curious and giving.  Learn why messaging, relationships and financials are vital no matter what stage you are and your business is currently in. Don’t believe you need to go it alone.

Maryann was a banker turned business owner. Tony was a technician turned shop owner. She is also a member of Women in Auto Care and owns smallbizvantage.com

Her biggest mistake as a new business owner was thinking she had to do it all. This is one of the reasons why her signature talk “Gain Control by Letting Go” was created.

Maryann is also a member of Women in Auto Care and owns smallbizvantage.com. Hear Maryann in her previous episodes HERE.

Key Talking Points

  • What advice would you give to a new business owner
    • Resilience to be tested
      • Easy to be the owner when everything is going smooth
      • Will have constant challenges- need to be thick skinned
      • Don’t lose empathy or kindness but don’t take things personally
    • Take a stand
      • Core values- know what they are and take a stand for yourself and others. Have to work for you, your team, your customers. Be an example every day 
    • Ask for help
      • Building relationships is key- vendors, suppliers, other business owners in industry and community
    • Have a curious mindset
      • Be open-minded to new ideas- willingness to grow and learn
      • Won’t get stuck in negative flow 
    • Share and give 
      • Locally, industry event, you always have something to offer
      • Help each other without an agenda 
  • What is a healthy business?
    • Profitable, sustainable and enjoyable  .
    • Your business is part of your life, not your entire life- don’t lose sight of yourself, friends and family 
  • How do you evolve to a business owner?
    • Messaging- voice and messaging is right for business
    • Relationships- how you nurture them
    • Know the financials of the business
  • Maryann’s Newsletter HERE

Talk soon,

 

 

 

Resources:

  • Thanks to Maryann Croce for her contribution to the aftermarket’s premier podcast.
  • Link to the ‘BOOKS‘ page highlighting all books discussed in the podcast library HERE. Leaders are readers.
  • Link to Maryann’s Small Biz Vantage website HERE.
  • Leave me an honest review on iTunes. Your ratings and reviews really help and I read each one of them.

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Be socially involved and in touch with the show:
Facebook   Twitter   Linked In    Email    Events    Speaking

Subscribe to a mobile listening app HERE.

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NAPA AutoCare’s PROimage program makes it easy for you to make the most of the NAPA brand. A PROimage upgrade lets you maintain your shop’s identity as a reliable, locally-owned business while letting your customers and potential customers know you’re partnering with NAPA, the most recognized and trusted name in the automotive aftermarket. AutoCare Centers that have completed a PROimage exterior upgrade enjoy an average 23 percent sales increase during the first year. You can also choose to go PROimage on the interior and transform your NAPA-AutoCare-Logo-Vert-A.gifcustomer waiting area from merely utilitarian to warm and welcoming. You can even get a free look by visting www.NAPAAutoCare.com and clicking on the NAPA PROimage link under the NAPA PROimage tab. Of course, the AutoCare site is also the place to go to find out about all the advantages being part of the NAPA family has to offer.

 

Click to go to the Podcast on Remarkable Results Radio

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  • Have you checked out Joe's Latest Blog?

         13 comments
      Most shop owners would agree that the independent auto repair industry has been too cheap for too long regarding its pricing and labor rates. However, can we keep raising our labor rates and prices until we achieve the profit we desire and need? Is it that simple?
      The first step in achieving your required gross and net profit is understanding your numbers and establishing the correct labor and part margins. The next step is to find your business's inefficiencies that impact high production levels.
      Here are a few things to consider. First, do you have the workflow processes in place that is conducive to high production? What about your shop layout? Do you have all the right tools and equipment? Do you have a continuous training program in place? Are technicians waiting to use a particular scanner or waiting to access information from the shop's workstation computer?
      And lastly, are all the estimates written correctly? Is the labor correct for each job? Are you allowing extra time for rust, older vehicles, labor jobs with no parts included, and the fact that many published labor times are wrong? Let's not forget that perhaps the most significant labor loss is not charging enough labor time for testing, electrical work, and other complicated repairs.  
      Once you have determined the correct labor rate and pricing, review your entire operation. Then, tighten up on all those labor leaks and inefficiencies. Improving production and paying close attention to the labor on each job will add much-needed dollars to your bottom line.
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