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Found 5 results

  1. The day to day operations of running a business can take its toll on anyone. To be a business owner means to address problem after problem and finding the right solutions. Sometimes the decisions we make will be the right ones, sometimes not. If we are not careful, this emotional roller coaster we call being in business, can make us focus too much on the negative, and not the positive things that happen in our lives. With nearly 4 decades as a business owner, I can say with certainty that one of the basic building blocks of being successful in business is having the right team of people around you and getting yourself in the right frame of mind. You need to find and hire great people. But once you have them, you need to do all you can to take care of them, train them and make them successful in order for you to be successful. Is it easy? No. But it is essential. Most important; you need to treat each day as if it were a gift from the heavens and base your entire perspective from a position of strength and remaining positive. I know it’s not easy, but I can tell you, it works.
  2. Each year at this time I advise shop owners to set aside time to look back at the current year and start planning for the year ahead. The more due diligence you perform, the more successful you will be. Below is a short list of things you need to do. Remember, the time you spend now, will pay off next year. Review all your numbers, year to date - Did you hit your goals? Arrange a meeting with your accountant and review your projected sales and determine any tax implications Speak to your accountant about investing in any end-of-year equipment purchases or any other large purchases in order to save on taxes. Please do not listen to your tool truck guy or equipment reps. Sometimes having cash reserve is much more important that reducing taxes Have a meeting with your key employees; determine what you will need in the coming year and begin to create a budget Set your new goals for 2018 and beyond, both personal and business Create a Wish List, those things your would like to accomplish, both in business and personal - This will help keep you focused Consider needed future training for all employees Review all insurances: Life insurance, liability, etc. Perform a facility inspection: Identify any needed work, upgrades, OSHA concerns, etc Create an emergency crisis plan in case something happens to you or a key employee; and make sure your loved ones and family have a copy of the plan
  3. As we close the first quarter of 2017, it’s time to review our strategies and goals. Did we hit the mark? Did we achieve our goals? These are some of the questions we will ask ourselves. Business planning and looking forward is something that all shop owners must do. We review data, make projections and set goals. But, there are times when adjustments must be made to any set of objectives. Why? Life has a way of getting in the way at times. In the world of business, there is one thing you can count on: Everything changes over time. Think of it this way. You plan a road trip across the country. You plot out the number of hours per day you will be driving, where you will stop, times for rest and refueling, etc. On day two, you hit a pothole and damage a tire; putting you behind by half a day. On the third day, unexpected construction forces you to make a detour. This also puts you behind a half a day. The takeaway: There will always be things in life that will test your resolve and force you to readjust and realign your plans. Business is no different. Create your strategy, create clearly defined written goals. But know that life does get in the way at times. So be prepared to make course corrections on your journey.
  4. Got your attention? Good. I often hear shop owners say, "I wouldn't ask any employee to do something that I would not do." While this may appear to be effective leadership, lets dig a little deeper. Lets say you had an illness that required a specialist. You make an appointment to see the doctor and the day you walk into his office you find him scrubbing the toilet bowl? In defense of his actions, he says, "I can't ask my employees to do something I am not willing to do." I use this ridiculous analogy only to prove a point. Effective leadership does not mean performing every required task in your company. Nor does it mean that the only way to get others to perform what's expected of them is to also perform their duties. Effective leaders do go the extra mile and mentor the people they lead, but leaders also know what their true role is. And that is to coach their employees, set the goals, work on the business plan, and to ensure the success of the business. As shop owners, clearly define your role as the leader of your company. Delegate tasks when needed and manage your time by working on the tasks that define you, the leader.
  5. Source: Repair Shop Owners; Please dont lead by example!


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