Your employees should be your greatest strength. Invest in THEM to secure their future and the future of your business. Connect the dots with their goals and the company’s goals. Don’t ignore the people in your shop. Don’t get complacent.
Productivity, efficiency, and effective labor rate are the 3 most important numbers in your business
Systems, operations, and procedures. SOPs will set you free! Important to train the whole team on “what right looks like” so that everyone is rowing the boat in the same direction. It’s not about the one, it’s about the all. TEAMWORK makes the dream work.
The automobile service industry is undergoing a literal revolution. The boomers are increasingly aging out, the number of independent competitors is shrinking fast, being a future top-shop will require much more business sophistication in the future, and the third-party investor feeding frenzy has begun. Smart owners need a strong business strategy, steeped in their legacy and exit strategy, to lead through these changes rather than just playing catch-up.
Baby boomers retiring- 80-85% aren't worth making a private equity investment
Shop owners coming from outside the industry- thinking from a business perspective
Elevating the industry through training and coaching
Profit vs cash- cash brings personal spending habits into play, preserving cash
Will it slow down? It matters what you do during the good times that will help you survive the bad times. Don’t let car count carry you. Redefine who you are and honed in