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Expand business or just be happy?


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Hi everyone, I joined this site a few months ago looking for some ideas to help my business and have gotten many good ideas from here. However I am in a situation that I am hoping some of you have been in before, and am hoping that I may receive some help. We are going into our second year of being in open and have seen a pretty good increase in sales this last year. I am a young and have read that some of you were also young when you started your shops (I will be 27 in March).

Let me lay a little ground work so you know what the circumstances are, we are located in the same building as a used car lot that has been there for 18 years and has a very good reputation around town, and have gotten a lot of customers from that. Unfortunately I don't think that we can grow the business any more without expanding the building, you see our current facility is 2 bays one of which has a hoist, the other is a flat stall that the car lot uses for detailing cars and occasionally I use for repairs. The other problem is that I am the only one running the repair business and working on cars.

I do have a business partner that also owns the car lot, so anything that I do usually gets run past him before I do it. I guess what I am looking for is some ideas as to what direction we should go with the business, you all seem like you have been through some things in the business that you may be able to offer some suggestions. I believe that to grow the business we at least need to expand the building and add at least one employee. What are any of your thoughts?

Any feedback is greatly appreciated. Thanks in advance, Eric

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Joe, I think that you are absolutely correct, my feeling is that either I need to expand or I may as well close the shop. We just finished our second year of business and our net profit was more than double from last year, so I am excited, however I would like to continue to keep that going and I am afraid that without adding on there will be no hope of that happening. I am kind of overwhelmed right now trying to do mostly everything by myself, so I am hoping to get some advice and guidance from some other professionals in the business. Joe, I really appreciate the reply and I think that it is great advice, I just need to do some acting on that advice. Thanks for the help and good luck with the new building. Eric

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  • Have you checked out Joe's Latest Blog?

         1 comment
      I 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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