Getting Over the Success Syndrome [RR 852]
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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
The ERTC (Employee Retention Tax Credit) is something Hunt has talked about in the past (See Episode 10 and 33) but this week, he wants to discuss the current status of the IRS with regard to auditing and follow-up on businesses that have claimed this credit, such as:
IRS is upping their fines if you don't disclose all funds, even the legit ones. IRS amnesty programs: From a simple "Hey, I've got this account" to "I owe you, let's settle." The IRS usually has three years to ask for back taxes, but some exceptions exist. If you've taken the ERTC money, there's a two-year period where the IRS might have you on their radar. Bigger amounts = more attention. The ERTC program's end is in sight, with some parts set to phase out soon. Want more details? Click here: https://www.irs.gov/newsroom/to-protect-taxpayers-from-scams-irs-orders-immediate-stop-to-new-employee-retention-credit-processing-amid-surge-of-questionable-claims-concerns-from-tax-pros
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.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
Aftermarket Radio Network
Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
Dan Taylor discusses various aspects of running a successful automotive repair business. He emphasizes the importance of having a roadmap to success, repackaging information to resonate with different people, utilizing reliable shop management systems, client and employee retention, effective marketing strategies, well-defined processes and procedures, and artificial intelligence in the industry. The episode concludes with a discussion on the importance of making money in the automotive repair industry and the need for a paradigm shift towards maintenance and customer service. Dan Taylor, Senior Business Advisor, Transformers Institute. Dan’s previous episodes HERE
Show Notes
Retention: Keeping Top Employees [THA 327] Is Your Company Culture Holding You Back? [RR 864] The roadmap to success (00:01:17) Discussion on the importance of having a roadmap to success, both personally and for your team. Repackaging and giving things in a different light (00:02:22) Exploration of how repackaging messages can resonate differently with people and lead to success. Major components for success (00:03:16) Introduction of seven major components that can guarantee success if followed, along with the need to reassess and upgrade strategies. Retention and Point of Sale Systems (00:10:04) Discussion on the challenges of retaining customers and the limitations of point of sale systems. Marketing and Client Retention (00:11:01) Importance of marketing efforts for client retention and the impact on business growth. Team Retention and Processes (00:14:44) The significance of team retention, the need for processes and procedures, and the constant improvement of organizational systems. The importance of presenting all information to clients (00:19:57) Explains how some shops present all the necessary repairs to clients and allow them to decide what to prioritize. Challenges in service maintenance and inspections (00:20:56) Discusses the challenge of inspecting and recommending services that have already been done or are not needed. Utilizing data and technology to improve operations (00:22:05) Highlights the importance of integrating data and technology to streamline operations, improve customer service, and gain trust and credibility. Sales and Relationship Building (00:29:45) The importance of sales and building relationships with clients in the automotive industry, and the need to educate clients about the value of maintenance. Operations and Productive Technicians (00:36:37) The need for productive technicians and efficient operations in order to maximize profitability and provide quality assurance to customers. The forgotten child (00:39:54) Discussion about the importance of the admin role in a shop, including timely financials and prompt paperwork. Monitoring KPIs (00:40:35) Exploration of key performance indicators (KPIs) such as opportunities, closed rate, and client retention.
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
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Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
This week, dive into proactive tax management. Whether you're wrapping up extended returns from 2022 or gearing up for the next tax year, now's the time to strategize. Hunt unpacks essential insights:
• Tax Extensions: Can they shield you from audits?
• Working with Accountants: Understand reasonable expectations and collaborate effectively to plan your taxes for the coming year.
• DIY Tax Forecasting: Tools to craft a ballpark tax estimate for next year, plus ways to refine those figures.
• Estimated Tax Payments: Not mandatory, but Hunt reveals why they're a wise move.
• Tax Myths Demystified: Learn the facts to minimize tax liabilities and debunk some fairly common misconceptions.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.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
Aftermarket Radio Network
Click to go to the Podcast on Remarkable Results Radio
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