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By Joe Marconi in Joe's Blog1 commentHave I got your attention? Great.
Let me start by saying that I believe in giving praise when deserved and letting employees know when they dropped the ball. However, the truth is that no one enjoys being reprimanded or told they messed up.
The question is, what is the appropriate balance between the right amount of praise and the right amount of critical feedback? According to studies done by Harvard Business School, the ratio of praise to critical feedback should be about 6:1 – Six praises for every critical feedback. I am not sure if I agree with that.
From personal experience, I would recommend a lot more praise. The exact ratio doesn’t matter. What’s important is that before you consider giving critical feedback, ensure you have given that employee a lot of recent praise. If not, whatever you are trying to get through to an employee, will fall on deaf ears.
When you do have to give critical feedback, remember a few things:
Focus on the issue or behavior; never attack the person, and remain calm in your actions and words Ask the employee for feedback, their side of the story Speak to the employee in private Address the issue soon after it happens; never wait Don’t rely on second-hand information; it’s always better if you have experienced the situation yourself that you want to correct Have an open discussion and find things that both of you can agree upon Have an action plan moving forward that the employee can take ownership of Use the experience as a learning tool Make sure you bring up positive attributes about them Remember, you don’t want the employee to be angry or upset with you; you want them to reflect on the situation and what can be improved. One last thing. Everyone makes mistakes. We need to be mindful of this.
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By Transmission Repair
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By Joe Marconi
Many auto repair shops are still busy, and many are booked out from a few days to weeks. After the initial shock of Covid, the recovery for our independent auto repair industry has been quite good, with many positive indicators for the future.
However, how many of the auto repair shops that did suffer a great loss in business during the lockdown phase of Covid would have survived if not for the SBA loans, the Pay Protection Program and the Employee Retention Credit?
Building a cash reserve is crucial to prepare yourself for the next economic downturn. How much should you set aside? That depends on your business model, how much debt you have and other financial conditions. Speak to your accountant, financial advisor and business coach, if you have one.
Rule of thumb, you should have at least three months of operating expenses set aside in a dedicated bank account. Some accountants and financial advisors may suggest up to six months.
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By carmcapriotto
You’re growing -a lot, but concerned about losing the company culture you’ve spent so much time, energy, effort, and money on building. In this episode, Kim Walker shares her thoughts, ideas, and strategies being implemented to be super intentional about maintaining company culture.
Talking Points
Worked hard to define core values, build a team, processes You’re getting great results You’re growing But fearful of losing momentum, culture, pace, etc Keep Core Values front & center. What we do: Hiring, onboarding Firing relates back In the middle - reward + recognize Make decisions Process Documented Practiced by all Appreciated + Understood Onboarding. How do you do it? Is it documented? Can it be duplicated easily? Hire Slow, Fire Fast Games Kim Games (Slack) JR’s Dad Jokes + Puns Playfulness, laughter, joy. Happiness is a core value for us. Contests. Surprises Letters to family Door Dash Travel together/retreat Training Meaningful Easily found for future reference Mentoring Day to Day Connections Slack Huddles Project Management software communication
How To Get In Touch
Group - Auto Repair Marketing Mastermind
Website - shopmarketingpros.com
Facebook - facebook.com/shopmarketingpros
Get the Book - shopmarketingpros.com/book
Instagram - @shopmarketingpros
Questions/Ideas - [email protected]
Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
Recorded Live at the 2023 Institute Summit, shop owner turned coach Jennifer Hulbert discusses the value of joining a coaching group. Find out what it's like to be in a coaching group with the Institute, and why she is passionate about celebrating other people's accomplishments.
Jennifer Hulbert, Service Plus Automotive, Calcium, NY. Facilitator for the Institute for Automotive Business Excellence.
Show Notes
Has 3 coaching clients- discovering finances, gross profit, structuring segments of business, increasing billable hours, and implementing a parts matrix. Facilitating- a group usually consists of 18 to 20 shop owners. They are assigned a partner, they have an individual accountability partner along with access to their facilitator coach. Have three in-person meetings a year. Part of those in-person meetings is to evaluate the whole shop. Go in, do a full evaluation of the shop, and give the owner feedback on areas for improvement. The other time is spent with training, and reviewing financial numbers, because if you don't know your numbers, you're never going to grow your business. In between, they have a couple of Zoom meetings as an entire group, and then the facilitator does reach out individually once a month. Never be the smartest person in the room If you’re not learning, you’re not growing Celebrate other people's accomplishments Joining a coaching company- understand profits, understand the structure of a business, understand your numbers, and structure your finances to make a profit. “Mama Bear of the Team”- Jennifer wants to see individual employees and their families succeed. Ensuring whatever decision you are making about the company is going to benefit your employees Women can do anything that a man can do Read the book “Traction: Get a Grip on Your Business”- communicate clear goals, build a leadership team, and hold each other accountable. Increased sales by 38%
Thanks to our Partner, NAPA AUTO CARE Learn more about NAPA AUTO CARE and the benefits of being part of the NAPA family by visiting www.NAPAAutoCare.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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