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Pleasantly Surprised :)


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I just went by the auto parts store to get parts (yes, working late again tonight) and hit my charge credit limit for the second time this month. I just looked at the numbers and I am already over for this year the total of what I did all of last year. Very excited about that one and thought I would share with those who would understand. I moved into a bigger building the last two months of last year so I had to make more but never anticpated this much.

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Our other vendors which are all high performance vendors are basically C.I.A. (cash in advance) with credit cards. I don't know why you have to fill out a credit app when we are paying with a credit card. The main problem with these vendors is they check your credit anyway and ding your credit score. Then, when you ask the credit cards for a higher line, they say we had too much checking of our credit. It is a vicious circle.

 

We were running out of credit line with the old credit card and had to up the line to 20K. But even at this line we are constantly paying down on the balance. Also, I occasionally put some items on my personal AMEX card. Lots of creative financing to increase cash flow.

 

I think i am going to ask Mr. Obama for a loan on Tea Party letterhead. :D

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  • Have you checked out Joe's Latest Blog?

         5 comments
      I 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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