Repair Shop Sales Mix
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Have you checked out Joe's Latest Blog?
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By Joe Marconi in Joe's BlogHave I got your attention? Great.
Let me start by saying that I believe in giving praise when deserved and letting employees know when they dropped the ball. However, the truth is that no one enjoys being reprimanded or told they messed up.
The question is, what is the appropriate balance between the right amount of praise and the right amount of critical feedback? According to studies done by Harvard Business School, the ratio of praise to critical feedback should be about 6:1 – Six praises for every critical feedback. I am not sure if I agree with that.
From personal experience, I would recommend a lot more praise. The exact ratio doesn’t matter. What’s important is that before you consider giving critical feedback, ensure you have given that employee a lot of recent praise. If not, whatever you are trying to get through to an employee, will fall on deaf ears.
When you do have to give critical feedback, remember a few things:
Focus on the issue or behavior; never attack the person, and remain calm in your actions and words Ask the employee for feedback, their side of the story Speak to the employee in private Address the issue soon after it happens; never wait Don’t rely on second-hand information; it’s always better if you have experienced the situation yourself that you want to correct Have an open discussion and find things that both of you can agree upon Have an action plan moving forward that the employee can take ownership of Use the experience as a learning tool Make sure you bring up positive attributes about them Remember, you don’t want the employee to be angry or upset with you; you want them to reflect on the situation and what can be improved. One last thing. Everyone makes mistakes. We need to be mindful of this.
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By Transmission Repair
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By Joe Marconi
Many auto repair shops are still busy, and many are booked out from a few days to weeks. After the initial shock of Covid, the recovery for our independent auto repair industry has been quite good, with many positive indicators for the future.
However, how many of the auto repair shops that did suffer a great loss in business during the lockdown phase of Covid would have survived if not for the SBA loans, the Pay Protection Program and the Employee Retention Credit?
Building a cash reserve is crucial to prepare yourself for the next economic downturn. How much should you set aside? That depends on your business model, how much debt you have and other financial conditions. Speak to your accountant, financial advisor and business coach, if you have one.
Rule of thumb, you should have at least three months of operating expenses set aside in a dedicated bank account. Some accountants and financial advisors may suggest up to six months.
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By carmcapriotto
This week Hunt discusses the differences in taxation of common expenses that you might not be aware of.
• What kind of meals am I allowed to deduct and how are in house meals different than meals offsite?
• How much of a deduction do I get if I donate my services to a charity or donate a piece of business equipment?
• Should I write off my life insurance premiums?
What other classifications should I be aware of on my P&L that could effect my end of year taxes?
Thanks to our sponsor partner NAPA TRACS
NAPATRACS.com
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online : www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book : Download Here
Click to go to the Podcast on Remarkable Results Radio
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By DUFRESNES
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By Hands On
Tekmetric re-designed the appearance and I can not stand it. I refuse to pay $399 a month for software that gives me a headache to look at. Anyone have a good alternative to tekmetric with all the same functionality that either has a tiered pricing schedule that makes sense for smaller shops, or is less then $399 a month, or looks like tekmetric used to and costs about the same?
The only integrations I use from tekmetric are parts ordering and the built in labor catalog, I do not use any of the marketing features so those are not important to me.
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