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Ron Haugen – Sold his business Westside Auto Pros, Des Moines, IA. Ron is consulting and teaching.

Dick Jobe – Former shop owner, Downtown Import Service. He was known as Dr. Volvo. He now owns Machine Head and he is making metal art.

Doug Stoll – Retired. Past owner of Susquehanna Auto Clinic and The Auto Clinic. Now a part-time coach for Elite Worldwide. A co-founder of Vision.

Jerry Holcom – President of Mid West Auto Care Alliance (MWACA) and owner of S & S Service in Kansas City, MO. A co-founder of Vision.

 

Key Talking Points
  • Succession plan- need to plan aheadIt’s worth what it’s worth- business is worth cash flow not assets
  • Common mistake- last 5-6 years of owner’s career they do not want to spend money/send employees for training. Declining business because they are not aggressively growing it and subsequently will not worth as much when want to sell
  • You’re either going to die or retire- be in control of your retirement, plan when and set yourself up for life after business. Don’t let a life event plan it for you. 
  • Future in industry Cost of business increasing
  • More specialization due to technology
  • Consolidation
  • Business coachEstablish and fund budget for annual equipment purchases
  • JerryHolcomNot retired but his friends on the podcast are!
  • Loves going to work at shop still
  • Doug StollHad a goal to retire at 50. He made that goal. Sold business in 2003
  • Avid golfer
  • Business coaching part-time
  • Dick Jobe“Dr Volvo”
  • Before sold business went back to school and got a degree in machine tool technology and advanced welding
  • www.machineheadkc.com– mentor interns and help them grow
  • Started making artistic work
  • Ron HaugenSold business in September 2018
  • Business coaching part-time and living the dream in Mexico

Resources:

  • Thanks to Jerry Holcom, Doug Stoll, Dick Jobe and Ron Haugen 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.

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The auto care industry is revving up. New technologies are changing cars and the way people use them. To stay in the driver’s seat of all these advancements, you need to take charge of your learning, your business, and your legacy. That’s where the 2020 NAPA AutoCare-Logo-Color-Horizontal-1440x525.pngEXPO comes in. With help from industry experts and the best suppliers and manufacturers, the 2020 NAPA EXPO will provide the innovations and answers you need to charge forward into the future.

This is your chance to network with experts in the industry. Discover the latest innovations that will help you stay market competitive. Learn more about new products, services, and equipment. You will be using them every day.

Join us in Las Vegas, April 6-9, 2020! Contact your NAPA AUTO PARTS store today to reserve your package for this can’t miss event. Enrollment is going on now.

To learn more about NAPA AutoCare and the benefits of being part of the NAPA family, visit www.NAPAAutoCare.com.

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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