Silicon Valley Bank - Business By The Numbers
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By Joe Marconi in Joe's Blog5 commentsI recently spoke with a friend of mine who owns a large general repair shop in the Midwest. His father founded the business in 1975. He was telling me that although he’s busy, he’s also very frustrated. When I probed him more about his frustrations, he said that it’s hard to find qualified technicians. My friend employs four technicians and is looking to hire two more. I then asked him, “How long does a technician last working for you.” He looked puzzled and replied, “I never really thought about that, but I can tell that except for one tech, most technicians don’t last working for me longer than a few years.”
Judging from personal experience as a shop owner and from what I know about the auto repair industry, I can tell you that other than a few exceptions, the turnover rate for technicians in our industry is too high. This makes me think, do we have a technician shortage or a retention problem? Have we done the best we can over the decades to provide great pay plans, benefits packages, great work environments, and the right culture to ensure that the techs we have stay with us?
Finding and hiring qualified automotive technicians is not a new phenomenon. This problem has been around for as long as I can remember. While we do need to attract people to our industry and provide the necessary training and mentorship, we also need to focus on retention. Having a revolving door and needing to hire techs every few years or so costs your company money. Big money! And that revolving door may be a sign of an even bigger issue: poor leadership, and poor employee management skills.
Here’s one more thing to consider, for the most part, technicians don’t leave one job to start a new career, they leave one shop as a technician to become a technician at another shop. The reasons why they leave can be debated, but there is one fact that we cannot deny, people don’t quit the company they work for, they usually leave because of the boss or manager they work for.
Put yourselves in the shoes of your employees. Do you have a workplace that communicates, “We appreciate you and want you to stay!”
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By carmcapriotto
Thanks to our Partner, NAPA Auto Care Recorded Live at Vision Hi-Tech Training & Expo, discover the Coach's Toolkit: The role of coaches in shaping personal growth and team development. Joe Marconi and Darrin Barney also tackle the challenges of screen addiction and social media's impact on mental health and why the culture within your business is the engine that powers your shop's success. Joe Marconi, Executive Council Member, Elite Worldwide. Auto Shop Owner. Joe’s Episodes HERE. Darrin Barney, President, Elite Worldwide, Barney Brother’s Off-Road and Repair, Grand Junction, CO. Darrin’s previous episodes HERE Show Notes
Fly with the Eagles: https://eliteworldwide.com/fly-with-the-eagles/ Personal Development and Leadership (00:04:15) The importance of personal development and leadership in business growth and success. Client Vetting and Coaching (00:07:11) The process of vetting potential clients and the focus on personal development in coaching. Sharing Best Practices Among Coaches (00:13:24) The collaborative approach to sharing best practices among coaches and the benefits for shop owners. Personal Development and Culture (00:15:28) Discussion on the significance of personal development and the challenges of establishing a strong culture within a business. Repair Shop of Tomorrow (00:17:19) Focusing on how it helps automotive repair shops become more profitable. Understanding Culture (00:19:30) Exploration of the concept of culture in a business and its impact, including the analogy of a "climate" and the importance of creating a positive environment. Overcoming Challenges and Growth (00:20:16) Insights on overcoming challenges, embracing pain, and achieving personal and business growth through coaching and self-development. Success Stories and Emotion in Storytelling (00:22:09) Sharing emotional success stories and the power of storytelling in podcasting and connecting with audiences. Social Media and Screen Time (00:28:00) Reflections on the impact of excessive screen time, addiction to social media, and the need for awareness and balance in technology usage. Reinventing coaching (00:32:19) Exploring the future of coaching and the need to focus on individual development and adapting to different business models. Technology and leadership (00:33:42) The role of technology in building better leaders and the abundance of information available for self-improvement. Coaching selection process (00:36:00) Insight into the detailed vetting process for matching coaches with clients based on individual strengths and needs. Coaching industry diversity (00:38:29) Discussion on the different approaches and strengths of coaching companies and the need for diverse coaching options. The story of Eagles (00:40:50) The origin and evolution of the Fly with the Eagles program, highlighting its impact on coaching and personal development. Remote coaching and business expansion (00:44:38) The transition to remote operations and the expansion of coaching services to Canada.
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 https://www.napaonline.com/en/auto-care Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -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
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By carmcapriotto
Through role playing exercises, our panel demonstrates different approaches to selling and communicating with customers. They emphasize the importance of understanding customer needs, building rapport, and being direct when necessary. The discussion covers the significance of tone, trust-building, technical knowledge, and authenticity in customer interactions. The episode concludes with a focus on continuous learning and the value of a supportive work environment. Rena Rennebohm, CEO and Creator of Empowered Advisor. Rena’s previous episodes HERE. Matt Bellinger, Service Plus, Watertown, NY Ali Norton, Rozema’s Car Care in Hudsonville, MI. Lee Fleming, SA Coach with Empowered Advisor Megan Dineff, Ervine’s Auto Repair and Grand Rapids Hybrid, Grand Rapids, MI Show Notes: Previous Service Advisor Role Play Episodes Megan's role-play (00:03:31) Megan, as the "friendship advisor," interacts with a customer and presents service recommendations. Discussion on customer buying style (00:06:48) Analysis of Megan's approach as a "friendship advisor" and its relevance to customer interactions. Matt's role-play (00:09:44) Matt, as the service advisor, interacts with a direct dominant customer and presents service recommendations. Discussion and feedback on Matt's role-play (00:11:37) Feedback and analysis of Matt's role-play, focusing on adapting to the direct dominant customer's buying style. Discussion on adapting to customer style (00:13:06) Importance of reading and adapting to the customer's communication style and preferences. Ali's role-play (00:17:50) Ali, as the service advisor, interacts with a technical customer and engages in initial conversation. Technical training impact (00:21:48) Discussion on the impact of technical training on service advisors and its potential misuse. Adapting to customer buying style (00:25:20) Advisors discuss the importance of adapting to the customer's buying style and the need to gauge their interest in technical information. Reading customer tone and style (00:27:26) Advisors share experiences and techniques for reading and adapting to customer tone and buying style. Building trust with new clients (00:33:44) Strategies for building trust and relationships with new clients, focusing on value proposition and setting expectations. Providing the Best Customer Experience (00:36:30) Tips on how to communicate to customers that they will receive the best experience at the auto repair shop. Empowering Customers to Ask Questions (00:37:23) Encouragement for customers to ask questions and for service advisors to be open to asking technicians for information. Being Authentic with Customers (00:38:19) The importance of being authentic with customers and ensuring that correct information is provided, even if it means putting them on hold. Learning from Customers (00:40:23) The value of learning from customers and the impact of technical training on the industry.
Thanks to our Partner, NAPA TRACS 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 http://napatracs.com/ Connect with the Podcast -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter (X): https://twitter.com/RResultsBiz -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
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By carmcapriotto
Discover how "reserving" a service advisor's time, not just the bay, can transform your client relationships and service quality. Learn about the rise of virtual service advisors and how they're reshaping the industry. Find out how a well-trained reservationist can boost your shop's efficiency and profitability. Rui Martins, Evolve AD
Show Notes
Evolve AD (00:00:26) Explanation of the company and its focus on aftermarket development. Introduction to the concept of reservations (00:02:06) Discussion about the concept of reservations and its importance in the service aftermarket. Challenges of using the term "reservation" (00:03:08) The challenges faced in using the term "reservation" and its significance in controlling client's time. Reserving the service advisor's time (00:04:54) The concept that reservations are for the service advisor's time, not the bay. Role of the reservationist (00:05:49) The role of the reservationist in handling administrative duties before the client's arrival. Virtual service advisors (00:07:01) Virtual service advisors and their potential role in the industry. Impact on productivity and profitability (00:11:11) Discussion about the impact of reservations on productivity, production volume, and overall profitability. Handling client inquiries and setting appointments (00:14:34) Explanation of how reservations handle client inquiries and set appointments, potentially involving the service advisor. Importance of reservations in client servicing process (00:11:50) Importance of accurate and well-developed reservations in the client servicing process. The importance of getting the primary concern (00:18:10) Discussion on the significance of accurately capturing the client's primary concern on the work order. Deferred work and timing conversations (00:19:23) Exploration of how deferred work and timing conversations can be handled during the reservation process. Challenges of managing remote workers (00:20:34) Discussion on the challenges and fears associated with managing remote workers and strategies to overcome them. Skill set and training for reservations (00:24:21) Consideration of the required skill set and training for individuals in the role of reservations. Reservations' role in administrative functions (00:27:25) Explanation of how reservations can handle administrative functions, such as managing switches and follow-ups in customer relationship management. Estimators in large shops (00:31:49) Exploration of the concept of having a dedicated estimator in large shops and its impact on efficiency and productivity. Delivering white glove service (00:33:57) Discussion on how reservations can be an essential tool in delivering exceptional customer service, known as "white glove service." Thanks to our Partners, AAPEX and NAPA TRACS Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR 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 http://napatracs.com/ Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -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
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By carmcapriotto
The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo:https://shopmarketingpros.com/chris/
Check out their podcast here: https://autorepairmarketing.captivate.fm/
If you would like to join their private facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
In this episode of the Weekly Blitz podcast, auto shop coach Chris Cotton and accountant Hunt Demarest discuss the critical nature of financial management in auto repair businesses. They explore the necessity of reconciling accounts to prevent fraud, the complexities of sales tax compliance, and the importance of financial oversight to avoid mismanagement. Real-world examples of theft and the consequences of non-compliance with tax laws are shared to illustrate the risks. The conversation also covers the need for contingency planning for business continuity. The episode wraps up with a call to action for strategic decision-making and lifelong learning to achieve success in the auto repair industry.
Introduction (00:00:21) Introducing the podcast and the guests, discussing the importance of business innovation and industry expertise. Reconciling Accounts (00:02:45) Importance of reconciling bank accounts, parts accounts, and expenses for accurate financial statements and fraud prevention. Discrepancies in Financial Statements (00:05:16) The impact of inaccurate financial statements on business decisions and the frustration caused by unreliable financials. Reconciling Bank and Parts Accounts (00:09:01) The importance of reconciling bank accounts and parts accounts to ensure accuracy and prevent loss of income. Fraud Prevention and Accountability (00:10:43) The role of reconciliations in fraud prevention and the need for proper processes and procedures to maintain accountability. Owner Theft and Fraud Prevention (00:12:56) Discussion on owner theft, cash manipulation, and leveraging hobbies for tax deductions, and the impact on financial statements. Creative Fraud Cases (00:14:45) Examples of creative fraud cases, including theft by employees and family members, and the importance of reconciling to catch discrepancies. Lessons Learned (00:17:32) Personal experiences and lessons learned from detecting fraud and the importance of implementing proper financial controls. Reconciling Accounts and Trust but Verify (00:17:58) Importance of reconciling accounts, trust but verify approach, and vulnerability to fraud in auto repair businesses. Fraud and Theft in Financial Management (00:19:31) Personal experiences and insights related to theft, fraud, and the need for transparency and accountability in managing financial matters. Impact of Sales Tax and Audits (00:21:26) Consequences of sales tax fraud, penalties, and interest, and the impact of audits on business operations. Sales Tax and Financial Management (00:26:49) Discussion on the placement of sales tax on income statements, implications of not collecting sales tax, and state-specific sales tax rules. Fraud Prevention and Business Evaluation (00:34:10) Teaching fraud prevention, evaluating a business, and transitioning to a second-in-command in auto repair businesses. Reconciling accounts (00:35:22) Importance of reconciling accounts, paying state taxes, and keeping the business running smoothly. Auto repair success (00:36:10) Strategic decisions, effective management, and the thirst for knowledge in the world of auto repair businesses. Acknowledgments and sign-off (00:36:06) Acknowledgment of the show's listeners and sponsor, Shop Marketing Pros, and the sign-off by Coach Chris Cotton.
Connect with Chris:
[email protected]
Phone: 940.400.1008
www.autoshopcoaching.com
Facebook: https://www.facebook.com/
AutoFixAutoShopCoachingYoutube: https://bit.ly/3ClX0ae
#autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros
Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
Gary Gunn discusses how mentoring differs from coaching and how it can benefit shop owners in defining their own success and implementing necessary changes in their businesses. Gary shares his experience as a mentor and offers tools and strategies for shop owners to implement new ideas and overcome challenges. He emphasizes the importance of working on the business and oneself, creating a scoreboard for business performance, and understanding the true cost of doing business. Gary also explains the role of a true mentor and the value of assessments in tailoring mentoring approaches. Carm and Gary believe that mentoring can enhance the value of coaching and help shop owners gain confidence and make informed decisions.
Gary Gunn, Auto Shop Showcase
Show Notes:
The importance of mentoring for shop owners (00:01:12) Gary Gunn discusses the concept of mentoring for shop owners and how it can benefit them in achieving better lives. Defining mentoring and its role in implementing change (00:05:56) Gary explains his definition of mentoring and how it involves helping shop owners implement changes that will lead to true freedom and success in their businesses. The role of a mentor in addressing specific struggles (00:07:03) Gary talks about how a mentor can assist with specific challenges such as hiring, budgeting, and determining financial goals, and how their role is to help mentees become self-sufficient in these areas. Implementing Ideas from Training (00:09:35) Discussion on the challenges shop owners face when trying to implement new ideas and how mentoring can help them overcome resistance and successfully implement changes. Using Tools for Implementation (00:11:32) Explanation of the five tools that shop owners can utilize to implement changes in their business, including staff training sessions and staff behavior sessions. Understanding the True Cost of Doing Business (00:15:02) Explanation of the concept of the true cost of doing business and how it can help shop owners analyze their financials and make informed decisions. The missing piece for shop owners (00:19:05) How mentoring can complement coaching and provide shop owners with additional value and guidance. Group mentoring and individual sessions (00:22:01) The different formats of mentoring, including group mentoring sessions and one-on-one sessions, based on the specific needs of the participants. The concept of mentoring in the automotive industry (00:26:50) Discussion on the importance of accepting the need for mentoring and the discrepancy between appearances and reality in the industry. The potential benefits of seeking a mentor (00:27:10) Highlighting the potential positive impact of finding a mentor to help individuals and businesses grow and improve. The role of a mentor as a supplement to coaching (00:28:45) Explaining how a mentor can work alongside existing coaching programs to provide additional support and guidance to shop owners. Thanks to our Partner, Dorman Products.
Dorman gives people greater freedom to fix vehicles by constantly developing new repair solutions that put owners and technicians first. Take the Dorman Virtual Tour at www.DormanProducts.com/Tour
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
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