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

[carmcapriotto]

 

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

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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.

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