Quantcast
Jump to content


Do You Have Financial Peace of Mind? – Bill Haas [RR 690]


Recommended Posts

 

Bill Haas is the owner of Haas Performance Consulting LLC, with 40 years of experience in the automotive service and repair industry. Clients now have access to Bill’s solution based focus, expertise, unique perspectives and in-depth knowledge of the industry. Services available include business management seminar development and delivery, keynote presentations, business consulting, performance coaching, and strategic planning facilitation. His career includes time as a technician, shop owner, technical trainer and most recently on the staff of the automotive industry’s oldest and largest association representing automotive service and collision repair businesses. .Bill received the Accredited Automotive Manager (AAM) credential from the Automotive Management Institute in 1996 and has been a member of the Automotive Management Institute’s faculty since 2002

Listen to Bill's other episodes HERE

Key Talking Points

  • Successor struggle- when every day is a struggle
  • “Advanced Financial Strategies for Peace of Mind”- what is it that you need to pay attention to in business? KPI’s need to be reviewed every day, don’t wait until the end of the month. It needs to also be shared with employees. “If you don’t share, they don’t care.”
  • Don’t make decisions without data- it lets you know what you need to work on and prioritize. Strategic thinking instead of working on many things at once. 
  • How do you know what to fix? Pause and do analysis.
  • Make cars count vs car count. 
  • Coaches change clients- is this someone who is willing to put words into action?
  • You need an investable business in order to retire- can’t wait until the end to start working on your business
  • You have to want to change yourself and your business. If not don’t hire a coach or even join a networking group
  • Focus on one particular area of concern, get it right, then move on to the next. Stop the smorgasbord of quick fixes.
  • You can’t wait to fix the business when you want to sell or retire. It takes a few years depending on the depth of the struggle
  • P & L statement- don’t ask your accountant how the business is doing, don’t rely on them to take the pulse of the business. Most accountants have clients in all different industries, they don’t know how to “fix” your automotive service business. Ask them to perform one job and that is to minimize your tax liabilities.
  • Finances in your business is just a big math problem to solve
  • Labor rate- gross profit percent on labor, labor parts split, hours per repair order
  • Sales forecasting and budgeting- have goals, targets and expectations

Connect with the show:

Aftermarket Radio Network

Subscribe on YouTube

Visit us on the Web

Follow on Facebook

Become an Insider

Buy me a coffee

Important Books

Check out today's partners:

     

This episode is brought to you by AAPEX, the Automotive Aftermarket Products Expo. AAPEX represents the $740 billion global automotive aftermarket industry and has everything you need to stay ahead of the curve.  AAPEX 2021 is in the record books and lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on Las Vegas in 2022. Mark your calendar now … November 1-3, 2022, AAPEX - Now more than ever.

Shop-Ware-Call-To-Action-Graphic-v3.png

This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com/carm

Screenshot_340.png

Click to go to the Podcast on Remarkable Results Radio

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Have you checked out Joe's Latest Blog?

         4 comments
      A recent study, done by Harvard Business School, concluded that the real problem with attracting and retaining employees has more to do with the workplace environment, not pay or benefits. While the study did find that an adequate pay plan and offering an attractive benefits package did help with recruiting and retention, it’s not enough to satisfy the needs of employees, especially those of front-line workers.
      The study also stated that in 2021, many companies were convinced that giving raises, sign-on bonuses, and other perks would solve the worker shortage problem and prevent people from quitting. However, this strategy did not work. So, what does work regarding attracting quality people and keeping them employed?
      Essentially, it all comes down to the culture of your company.  Management: do all it can to consider the individual needs of your employees. Your employees want to feel that they have a voice, that their opinion counts, and that their role in your company is both respected and recognized. Yes, pay and a great benefits package will go a long way toward making your employees feel secure, but that’s only financial security. People want more than money.
      To attract and keep top talent requires creating a company that people feel proud to work for. You need to reach the hearts and minds of your employees. Become a leader that people are enthusiastic about working for. You want your employees bragging to their friends and family that your shop is a great place to work!
      Step one to attracting and retaining quality employees: Create an amazing workplace environment for your employees!  Trust me, happy employees make happy shop owners too!
  • Similar Topics

    • By carmcapriotto
      Are you curious about what it's like to work for your family in the automotive industry? In this episode, Tracy Capriotto, Sara Fraser, and Kent Bullard discuss their journey into the automotive industry, the challenges and pressure to fill their father's shoes, and the need to find their own paths. They squash the misconception that working for family in the industry is easy and handed to them. It requires hard work and dedication to succeed in the automotive industry, regardless of family connections. They also touch on the challenges of preparing the next generation of professionals in the industry.
      Kent Bullard, COO, The Institute. Listen to Kent’s other episodes HERE.
      Sara Fraser, Haas Performance Consulting, Sara’s previous episodes HERE.
      Show Notes
      The Kids Table: The Next Generation in the Automotive Industry (00:01:31) Tracy, Sarah, and Kent discuss their plan to start a series on the younger generation's perspective in the automotive industry. Sara's journey (00:04:25) Sara talks about how she started working for her father's company, from casual conversations to helping out with social media and eventually speaking at events. Kent's journey (00:05:26) Kent shares how he stumbled into the automotive industry while doing tech support for Verizon, and how his father offered him a job as a secretary, which eventually led to him becoming the COO and owner of the company. Tracy's journey (00:07:30) Tracy talks about how she started working for her father's podcast, initially helping out part-time with editing before eventually coming on full-time and realizing the many career paths available in the automotive industry. Building a career path (00:10:11) Kent Bullard talks about building his career path under his father's guidance. Pressure of working for a parent (00:11:31) The misconception is that working for a parent is easy Addressing the relationship with their fathers (00:12:44) Pressure of Filling Shoes (00:16:09-00:17:34) Tracy, Kent, and Sarah discuss the pressure they feel to fill their fathers' shoes in the automotive industry and the challenges they face in doing so. Being Yourself (00:17:34) Sara talks about the pressure she initially felt to fit into a certain mold when presenting and training, but ultimately learned to be herself. Creating Your Own Path (00:20:08) Kent emphasizes the importance of the next generation paving their path in the automotive industry and not continuing to do things the way they have been done. Working with Family (00:22:54) Tracy, Sarah, and Kent discuss the rewards and challenges of working with their fathers and the importance of trust and communication in their relationships. Finding Joy in Work (00:25:35) Sarah and Kent discuss how they found meaning and purpose in their work, and the importance of doing work you enjoy. The Importance of People in the Automotive Industry (00:27:52) The importance of people in the automotive industry, and how it is a people industry that happens to fix cars. The Power of Networking (00:28:22) Sara and Kent discuss the importance of attending industry events and networking, and how it can lead to meeting extraordinary leaders in the industry. Surprises in the Industry (00:30:29) Kent shares his surprise at the amount of education required for automotive technicians. Succession Planning (00:31:39) The group discusses the lack of succession planning in the industry and the need for business owners to start thinking about their exit plan from the day they open their shop. Being a voice for younger people in the industry (00:34:38) Sara suggests discussing topics such as imposter syndrome and pressure that younger people in the industry may face and being transparent about their experiences.  
      Thanks to our Partner, NAPA AUTO CARE
       
      Learn more about NAPA AUTO CARE and the benefits of being part of the NAPA family by visiting www.NAPAAutoCare.com
      Connect with the Podcast:
      -Join our Insider List: https://remarkableresults.biz/insider
      -All books mentioned on our podcasts: https://remarkableresults.biz/books
      -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom
      -Buy Me a Coffee: https://www.buymeacoffee.com/carm
      -The Aftermarket Radio Network: https://aftermarketradionetwork.com
      -Special episode collections: https://remarkableresults.biz/collections
         
      Click to go to the Podcast on Remarkable Results Radio
    • By ASOG Podcast
      Watch Cecil Bullard Coach This Auto Repair Shop Owner Live!
    • By carmcapriotto
      What does it take to become an A-Tech in the automotive aftermarket industry? Scot Manna, Matt Fanslow, and Ryan Kooiman share their perspectives, emphasizing the importance of continuous learning, individual effort, and natural talent. They also discuss the role of shop owners in investing in their employees' training and development, as well as the challenges faced by the industry in assessing skill levels. The episode provides valuable insights into becoming an A-Tech and how the industry can support and cultivate talent. Scot Manna, Trainer, ACDelco Technician of the Millennium. Scot’s previous episodes HERE.
      Matt Fanslow, lead diagnostician and shop manager, Riverside Automotive, Red Wing, MN. Matt’s previous episodes HERE
      Matt Fanslow Podcast: Diagnosing the Aftermarket A to Z
      Ryan Kooiman, Director of Training, Standard Motor Products. Ryan’s previous episodes HERE.
      Show Notes:
      Watch Video Episode HERE Importance of Individual Effort and Natural Talent (00:04:21) Ryan Kooiman discusses the importance of individual effort and natural talent in becoming an A-tech. Being a Perpetual Student (00:02:51) The importance of being a forever perpetual student and committed to being at the top of your craft. Opportunity and Drive (00:05:17 The importance of opportunity and drive in becoming an A-tech and how it can lead to personal growth and experience. Investing in Training (00:07:18) The importance of investing in training for technicians and how it benefits both the individual and the shop. The Determination and Motivation of an A-tech (00:10:28) Matt Fanslow describes the qualities of an A-tech, including determination and self-motivation, and how they seek out training opportunities. The Importance of Training and Shop Culture (00:11:11) Training and shop culture is important in developing A-techs, including the need for mentoring and a supportive work environment. Different Gifts and Skill Sets of Technicians (00:13:06) How can a shop assemble a team with a good blend of abilities and a supportive culture? The importance of individual effort and natural talent (00:14:50) The role of individual effort and natural talent in becoming an A-tech, and how it can be recognized and cultivated by management. Networking and sharing knowledge (00:17:31) The importance of networking and sharing knowledge with other technicians in the industry to become an A-tech. Levels of Supervision (00:21:52) The history of the A, B, C technician designations and how they relate to levels of supervision, as well as the potential use case for assigning work based on technician skill level. Mentoring for Succession (00:24:11) The importance of mentoring individuals to take over for lead technicians in the future and the possibility of a new way to assess skill levels in the industry. The Importance of Experience (00:27:10) The value of experience in the automotive aftermarket industry, using case studies and trial and error to learn from mistakes. The Role of Individual Effort in Becoming an A-tech (00:28:03) The importance of individual effort and experience in becoming an A-tech, using the example of Michael Jordan's dedication to practice. Learning from Mistakes (00:24:37) The challenges of answering complex diagnostic questions and the importance of learning from mistakes and experience in becoming an A-tech. Creating an Environment for Success (00:31:12) How to cultivate an environment that can help technicians achieve their top potential. Importance of Mentoring (00:34:41) The importance of having a mentor, networking, and finding a coach to help young technicians learn from their mistakes. Reading Comprehension (00:37:17) The importance of reading for leisure to develop reading comprehension skills, which are essential for understanding service information and diagrams. Learning from Mistakes (00:36:05) Investing in Tuition (00:38:56) The importance of investing in training and education for employees and the productivity benefits for the shop. Virtual vs. Live Training (00:41:11) The panelists discuss the pros and cons of virtual and live training, with live training being the preferred method for complex topics and networking opportunities. Networking (00:46:26) Learning from Peers (00:47:19) Building self-awareness and confidence (00:48:50) The importance of building self-awareness, self-confidence, and career assurance to become a successful A-tech. Documenting work in the bay (00:50:45) The importance of documenting work in the bay, using tools like PowerPoint and phone cameras to capture information and data. Commitment to learning (00:52:32) The commitment to learning and investing in professional development, both for shop owners and technicians, to build a culture of learning and keep people in the industry. Thanks to our Partners Shop-Ware and Delphi Technologies
      Shop-Ware: More Time. More Profit. Shop-Ware Shop Management getshopware.com
      Delphi Technologies: Keeping current on the latest vehicle systems and how to repair them is a must for today’s technicians. DelphiAftermarket.com
      Connect with the Podcast
      -Join our Insider List: https://remarkableresults.biz/insider
      -All books mentioned on our podcasts: https://remarkableresults.biz/books
      -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom
      -Buy Me a Coffee: https://www.buymeacoffee.com/carm
      -The Aftermarket Radio Network: https://aftermarketradionetwork.com
      -Special episode collections: https://remarkableresults.biz/collections
           


      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      More and more privately owned businesses have been the victims of ADA Title III compliance lawsuits than ever before, and a growing number of these lawsuits are due to lack of compliance on the business’ website.
      It’s more important than ever that your auto repair shop’s website is compliant.
      Join Brian in this episode to talk about what it means for shop’s website to be ADA compliant.
      Talking Points
      I am not a lawyer and this is not legal advice Just like your office door needs a ramp and bathroom needs handrails, your website needs to be able to be viewed by those with vision and hearing impairments This is not just total blindness and deafness but any impairments including colorblindness, poor vision, and hard of hearing. There are 2 main reasons you need your website to be ADA compliant The number of lawsuits happening It’s the right thing to do What makes a website ADA compliant? Over 100 factors Most important factors are: Skip nav Image alt text Proper heading structure Labels on form fields Contrasting colors Clear, easy to read fonts Descriptive link text Subtitles on videos We use a free plugin with some nice features I won’t guarantee a website ADA compliant Do the basics and you’re probably good to go. Remember, I am not an attorney. Where to start - wave.webaim.org   
      How To Get In Touch with Cinch CRM
       
      Website - https://cinch.io/ 
      LinkedIn - https://www.linkedin.com/company/cinchplatform/ 
      Facebook - https://www.facebook.com/CinchPlatform/ 
      YouTube - https://www.youtube.com/@CinchPlatform 
      How To Get In Touch with Shop Marketing Pros
      Group - Auto Repair Marketing Mastermind
      Website - shopmarketingpros.com 
      Facebook - facebook.com/shopmarketingpros 
      Thanks to our partner, RepairPal. Visit the Web HERE
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Are you tired of the same old auto repair experience with poor customer service and no personal touch? Look no further than Adam and Son Auto Repair in Colorado Springs. Owner Dan Adam and VP of Social Impact and Strategy Stacy Burns, share their insights on creating a unique customer experience and positively impacting their community. Dan Adam founded Adam and Son Auto Repair with a mission to improve the way auto repair businesses are run and provide exceptional customer service. He achieved this by defining 28 fundamentals that create behaviors for team members and ingrained them in the company culture through weekly messages and daily huddles. But the customer experience at Adam and Son doesn't stop there. They have implemented social impact initiatives that provide free car repairs to single mothers, domestic violence victims, and disabled veterans through their Stranded Motorist Fund. This program aims to provide safe and reliable transportation to those in need and has gained positive feedback from the community. Adam and Son have gained high-quality customers who support their business by providing excellent customer service and making a positive social impact. Dan Adam, Adam and Son Auto Repair, Colorado Springs, CO.
      Stacy Burns, VP of Social Impact and Strategy.
      Show Notes
      Dan Adam's Story (00:02:32) Dan Adam shares his experience of working at a local auto repair shop with poor company culture and customer service, and how it led him to start his own shop with a loan from his family. Creating a Company Culture (00:07:02) Dan Adam explains how his company created a culture of excellence through 28 actionable fundamentals that are discussed daily in meetings and interviews. Culture Icon Belt (00:11:44) Stacy Burns shares how Adam and Son Auto Repair uses a wrestling-style belt to recognize team members who embody the company's culture and pass it on to others. Team Building Across Locations (00:13:31) Building a sense of community across locations through team building activities and introducing new team members to both shops. Sharing Positive Feedback (00:14:01) The importance of sharing positive feedback within the team and with customers through Google reviews and other tools. Community Engagement and Social Impact Programs (00:15:16) The impact of their social impact programs, including the Trifecta Oil Change Program and the Stranded Motorist Fund, on their community and customers. Stranded Motorist Program (00:22:30) Dan Adam and Stacy Burns discuss the Stranded Motorist Program, which provides free car repairs and donated vehicles to those in need. They talk about the impact of transportation on people's lives and the need for such a program. Expanding the Stranded Motorist Program (00:27:07) Dan Adam talks about his plans to take the Stranded Motorist Program to a national level and involve other independent auto repair shops in the initiative. Storytelling and Community Outreach (00:28:34) The importance of storytelling and community outreach in promoting social impact initiatives. Reaching out to those helped (00:30:20) Stacy discusses how they reach out to people they have helped in the past and how it has caught the attention of the news media. Solving community needs (00:35:21) Dan explains how being a social impact company is not just about being philanthropic, but about solving community needs and gaining market share. Long game of social impact (00:36:18) Dan explains that becoming a social impact company is a long game and requires a strong company culture to be successful. Creating a Differentiator (00:38:03) Dan Adam discusses the importance of having a real differentiator in the automotive industry. Thanks to our Partners, AAPEX and NAPA TRACS.
      Set your sights on Las Vegas in 2023. Mark your calendar now … October 31 - Nov 2, 2023, AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at AAPEXSHOW.COM
      NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at NAPATRACS.com
      Connect with the Podcast:
      -Join our Insider List: https://remarkableresults.biz/insider
      -All books mentioned on our podcasts: https://remarkableresults.biz/books
      -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom
      -Buy Me a Coffee: https://www.buymeacoffee.com/carm
      -The Aftermarket Radio Network: https://aftermarketradionetwork.com
      -Special episode collections: https://remarkableresults.biz/collections
           
      Click to go to the Podcast on Remarkable Results Radio


  • Our Sponsors



×
×
  • Create New...