Flat Out with the Flat Rate Master Mike Berg - Diagnosing the Aftermarket A to Z
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Have you checked out Joe's Latest Blog?
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By Joe Marconi in Joe's Blog1 commentI am going to borrow a quote from billionaire, Warren Buffet, “The best investment you can make is in yourself,” This statement, while simplistic, speaks volumes. A shop owner is much more than a boss, a shop owner is a leader. And leaders are solely responsible for the success of their team. This means that you must work hard and commit to a life of continuous learning and improvement. It also means that if the team fails, a leader must always blame himself or herself for that failure and find ways to improve.
For your business to flourish, you must invest your time and energy in understanding what your role is in your company. It also means that you must be committed to continually improving your level of competence. This does not mean that every task is your responsibility. However, it does mean that the buck stops with you. If your business is not where it needs to be, or you are looking for increased growth, then it is your obligation to do the hard work and set goals, have the vision, perform the research, and develop the plan to achieve your overall objectives.
When you invest in yourself to become the best leader and the best businessperson you can be, others around you will feed off your energy and your passion. This sends a strong message to everyone on your team that you have what it takes to bring the company to the next level.
One last thing, another obligation to your company is assembling the right team of people around you. Once you have the right people, you need to invest in them too. Find what truly motivates them, not what you believe inspires them. Be a coach to your employees and always strive to bring out the best in them. Be strong with your convictions and expectations, build strong relationships with your employees, and don’t be afraid of admitting when you drop the ball.
While Warren Buffet is best known for making billions of dollars with his investment strategies, I want to believe that this quote has its basis in something that money cannot buy.
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By Joe Marconi
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By carmcapriotto
Part 2 of our labor rate discussion in the automotive aftermarket industry. Our panel emphasizes the importance of setting labor rates based on the shop's own expenses and profitability, rather than comparing them to competitors. They also stress the need for regular labor rate increases and educating staff about the financial aspects of running a shop. They address fear and mindset issues that can affect labor rates and overall success. The episode provides valuable insights and advice for shop owners in effectively setting and managing their labor rates.
Chris Cotton, AutoFix Auto Shop Coaching, Chris Cotton Weekly Blitz Podcast. Listen to Chris’ previous episodes HERE
Rick White, President and Lead Coach for 180BIZ, Listen to Rick’s previous episodes HERE. Dave Schedin, CompuTrek Automotive Management Systems. Dave’s previous episodes HERE Show Notes:
Build Your Labor Rate From The Ground Up Part 1 [THA 276]: https://remarkableresults.biz/remarkable-results-radio-podcast/a276/ Where the Money Goes – The $100 Lesson [THA 210]: https://remarkableresults.biz/remarkable-results-radio-podcast/a210/ Labor rates should not be set based on competitors (00:02:10) The importance of setting labor rates based on the shop's own expenses and profitability, rather than comparing them to competitors. Educating staff about where the money goes in the business (00:03:18) The need to teach employees about the various expenses and costs involved in running a shop, to help them understand the labor rates and the owner's income. Fear and mindset issues affecting labor rates and success (00:05:02) The fear and mindset issues that can affect labor rates and the overall success of a shop, and the importance of addressing these issues before setting labor rates. The importance of financials and owner thinking (00:07:46) Discussion on the prevalence of shop owners not having up-to-date financial statements and the need for owners to transition from technician thinking to owner thinking. Raising the Labor Rate (00:15:40) Discussion on the importance of raising labor rates and providing value to clients. Labor Rate and Value (00:17:19) Exploration of flipping the conversation from price to value and the curse of knowledge. Labor as Time vs Value (00:18:05) Insights on how labor is often tied to time, but should be based on value and the skills of technicians. Setting a Higher Standard (00:23:11) Discussion about the importance of qualifying customers and setting a higher standard for the shop's services. Firing Customers for Excellence (00:24:03) Exploration of the concept of firing customers who compromise the shop's level of excellence and professionalism. Running the Business Like a Business (00:25:58) Importance of charging correctly, controlling the schedule, and making every car count to improve the shop's profitability and efficiency. The impact of increasing labor rates on gross profit (00:31:37) The relationship between increasing labor rates and gross profit. It explains that when a technician's pay is increased, the labor rate must also be raised to maintain the same gross profit percentage. It highlights the importance of understanding the math behind labor rates and setting them proactively. The need to compete with other industries for skilled technicians (00:33:42) The challenges of attracting and retaining skilled technicians in the automotive industry. It compares the benefits and compensation offered by other industries, such as Target and emphasizes the need for competitive labor rates to attract and retain talent. It also highlights the importance of providing tools and benefits to technicians to create a profitable and sustainable industry. Building a profitable business (00:42:42) The significance of being profitable and setting labor rates that allow for a 20-25% net profit, as well as the importance of love and grace in running a successful shop. The importance of making changes now (00:44:27) The need to make changes in labor rates immediately instead of waiting and encourages shop owners to trust the advice of coaches. Thanks to our Partners Shop-Ware and Delphi Technologies
Shop-Ware: More Time. More Profit. Shop-Ware Shop Management https://getshopware.com/
Delphi Technologies: Keeping current on the latest vehicle systems and how to repair them is a must for today’s technicians. http://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
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By carmcapriotto
Ever wondered what makes a leader truly great? Joe Marconi discusses the value of being approachable. Connecting with your employees on a personal level, asking about their life outside work, genuinely caring – it all contributes to a positive work environment. Remember, leadership is a constant learning process. Let's nurture empathy, be open to self-reflection and keep the balance between old school values and new school flexibility.
Joe Marconi, Executive Council Member, Elite Worldwide. Auto Shop Owner. Joe’s Episodes HERE.
Show Notes:
Don't Expect Your Employees to Leave Their Problems at Home (00:04:11) Discussion on the importance of understanding and empathizing with employees' personal problems and how it can affect their work performance. Approachability and Building Relationships (00:08:38) Importance of getting to know employees on a personal level and being approachable as a leader. Leadership and Empathy (00:09:30) Learning to have empathy and be a sounding board for employees, and the importance of self-reflection as a leader. Blending Old School with New School (00:12:05) The need to blend old school values, such as punctuality and accountability, with new school flexibility. Honesty and Integrity (00:16:09) Discussion on the importance of honesty, integrity, and ethics in leadership and business culture. Leadership and Responsibility (00:17:05) Exploration of the role of leadership in setting an example and taking responsibility for oneself and the team. Redefining A-Rated Technicians (00:18:49) Conversation about the need to redefine the qualifications and specializations for A-rated technicians in the modern automotive industry. Retention and Career Path (00:24:18) Discussion on the importance of retention and providing a clear career path for employees. Selling Your Business (00:28:11) Advice on preparing a business for sale and the importance of having everything in place. Four Day Work Week (00:30:40) Discussion on the four day work week and its suitability for different businesses. Considering the ability of employees to handle responsibilities in the owner's absence (00:33:09) Joe discusses the importance of having capable employees who can effectively manage the business when the owner is not present. 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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By carmcapriotto
Carm Capriotto introduces a special edition of Remarkable Results Radio featuring the Joe's Garage training bay at AAPEX that provides training and career opportunities this fall. Our panel discusses the unique opportunity at Joe's Garage, where they will bring together people from distribution, trainers, shop owners, and lead technicians to work on vehicles in real time. They also discuss the importance of quality parts, attracting the youth to the industry, professionalism, continuous learning, and the impact of attending AAPEX. They are passionate about the future of the automotive industry and encourage young talent to join.
Jason Rainey, Vice President, NAPA Auto Care. Jason’s previous episodes HERE
Dwayne Myers, Dynamic Automotive, 6 locations, Maryland. Dwayne’s previous episodes HERE. Frank Scandura, Frank’s European Service, Las Vegas, NV. Frank’s previous episodes HERE. Bill Nalu, Interstate Auto Care, Madison Heights, MI. Listen to Bill’s previous episodes HERE. Andy Bizub, Midwest Performance Cars, Chicago and Northbrook, IL. Andy’s previous episodes HERE. Vic Tarasik, CEO of Shop Owner Coach. Vic’s previous episodes HERE. Show Notes
The Training Bay at AAPEX (00:00:01) Discussion about Joe's Garage, a teaching and repairing opportunity at AAPEX, and the upcoming service awards. Bringing Industry Professionals Together (00:02:11) Explaining the unique opportunity at Joe's Garage to bring together people from distribution, teachers, shop owners, and lead technicians to work on vehicles. Benefits and Opportunities (00:04:15) Discussion about the benefits of attending AAPEX, including exposure for products, software demonstrations, and the opportunity to help veterans and educate the next generation. The push for skilled trades (00:08:48) Discussion about the opportunity and importance of skilled trades in the industry, and the potential career path for students. The bridge between generations (00:09:49) Exploring the role of experienced technicians and shop owners in mentoring and fostering the younger generation in the industry. Challenges of organizing the event (00:11:46) Discussion about the challenges faced in bringing together various industry stakeholders and working towards a common vision for the event. The importance of quality parts (00:16:47) Encouraging suppliers to make better parts to avoid returns and ensure customer satisfaction. The role of NAPA in the industry (00:17:20) Acknowledging NAPA's support and their understanding of the importance of selling good parts for good money. Promoting career opportunities in the automotive industry (00:18:40) Highlighting the various career paths available in the industry and the need to attract and retain young talent. The importance of introducing young talent to the automotive industry (00:24:56) Discussion on the value of encouraging young individuals, particularly sons, to pursue a career in the automotive industry. The professionalism and growth of the industry (00:26:36) Emphasis on the need for professionalism and growth within the automotive industry, and the role of events like Joe's Garage in promoting these values. The transformative impact of attending AAPEX (00:29:36) Personal testimonies on the transformative impact of attending AAPEX, including gaining knowledge, improving oneself, and discovering opportunities within the 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 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:
-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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By carmcapriotto
In this podcast episode, Coach Chris Cotton discusses the survey he created to understand why technicians are leaving the automotive industry, and sharing insights from the responses received so far. The top reasons include pay, benefits, work-life balance, and poor management. Coach Chris emphasizes the importance of addressing these issues to retain employees. He also highlights the need to attract more technicians to the independent sector and concludes by emphasizing the role of good owners or leaders in employee retention.
The age distribution of survey respondents [00:03:34] The speaker discusses the age range of the survey respondents, which includes people from 18 to 56 years old. Reasons for leaving the industry [00:05:58] The speaker explores the comments and opinions of technicians who have left the industry, focusing on the negative impact of dealerships. Alternative industries technicians are entering [00:08:42]. The speaker shares the various industries that technicians are transitioning into, including elevator and escalator maintenance, cybersecurity, construction, farming, and industrial mechanics. The main reasons for leaving the industry [00:11:59] Discusses the top four reasons people leave the industry: pay, benefits, work-life balance, and poor management. The importance of fixing pay and benefits [00:13:10] Emphasizes the need to address pay structure and pricing to improve pay, benefits, and work-life balance. The lack of effort to retain employees [00:16:38] Highlights that most respondents said that no one tried to keep them in the industry when they gave notice, suggesting a lack of effort from owners or leaders.
Don't forget to rate and review us!
To listen to more episodes, make sure and go over to iTunes and or Spotify.
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
Connect with Chris:
AutoFix-Auto Shop Coaching
www.autoshopcoaching.com
www.aftermarketradionetwork.com
940-400-1008
Facebook: https://www.facebook.com/AutoFixAutoShopCoaching
YouTube: https://bit.ly/3ClX0ae
Email Chris: [email protected]
#autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #autoops #onlinebooking #serviceadvisor #serviceadvisorefficiency
Click to go to the Podcast on Remarkable Results Radio
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