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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.
By Joe Marconi
Carm Capriotto and Maryann Croce discuss the importance of attending industry conferences and how to maximize their value. They provide tips such as having a growth mindset, planning ahead, and taking action on what is learned. They emphasize the value of networking, exchanging contact information, and respecting sponsors, speakers, and vendors. They also recommend documenting insights, taking pictures and videos for social media, and representing your business professionally. After the conference, they suggest debriefing, discussing takeaways, and creating a plan of action.
Maryann, Small Biz Vantage. Maryann’s previous episodes HERE.
Pre-Conference Preparation (00:06:41) Tips on how to prepare yourself before attending a conference, including having a growth mindset and planning for the event. Importance of Planning (00:08:08) The significance of planning for a conference based on the unique needs and stage of your business, including considering attendees, speakers, vendors, and training topics. Traveling Light and Allowing Extra Time (00:08:50) Advice on traveling light and allowing extra time to fully immerse yourself in the conference experience. The importance of networking (00:11:39) Tips on networking at conferences and the value of connecting with new people and sharing knowledge. Respecting sponsors, associations, and speakers (00:13:19) The importance of showing respect to the individuals and organizations involved in the conference and providing constructive feedback. Debriefing and creating an action plan (00:18:53) Scheduling time to discuss takeaways from the conference and creating a plan of action to implement the knowledge gained. The importance of accountability partners (00:20:01) Discussing the benefits of having an accountability partner and the impact it can have on personal and professional growth. The value of debriefing after a conference (00:21:10) Highlighting the importance of debriefing with your team after attending a conference to discuss what worked, what didn't, and to align everyone's understanding. Choosing the right words for team alignment (00:22:21) Exploring the significance of using the term "align" instead of "buy-in" when trying to get your team on board with ideas, to foster collaboration and shared goals. 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/
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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]
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