Four Ways to Generate Income Using ESBI with Gerry Frank [RR 587]
Gerry Frank has over 30 years of experience as an independent shop owner. And he, along with his wife Laura, have a current location in the Cleveland market, where their business continues to thrive regardless of the economic environment. Gerry was featured in a Ratchet & Wrench article, where he, along with his business partner, laid out how they grew an abandoned shop in one of the poorest city's in the nation from Zero to a Million dollars in sales in just 12 short months. Gerry is also a principal owner in Repair Shop Coach and is dedicated to helping shop owners achieve their dreams. Look for Gerry’s other episodes HERE.
Key Talking Points:
Entrepreneurship is a journey
4 stages business go through- quadrantE- employee
S- self employed
B- business owner
Employee- “technician phase”Start off working for someone
Income is capped
Self employed- lack of control Do you own the business or does the business own you?
Doing it all in business
Strategy is to have more customers, do more work but it leaves you more buried
Business owner- lead people and develop systems and processesBuilding efficient machine whether you are there are not
When you are a leader, you are a trainer
Taking the time to really think
Delegating and inspect what you expect
Investor- putting your money into something that consistently produces a return
Thanks to Gerry Frank for his contribution to the aftermarket’s premier podcast.
Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers.
Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP's HERE
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Learn more about TRACS Enterprise and the hundreds of other benefits NAPA offers. visit the NAPA Benefits Center at www.napabenefitscenter.com or call the NAPA Benefits Center at 844-627-2123.