Low Hanging Financial Fruit That Will Improve Your Profits
The cost of doing business rises each year. Net profits that are necessary to move your business forward are challenged each day.
Our panel talks about the value of inspections on your sales, association membership, and billing for all parts and fluids used on a repair. We get into some cost savings ideas and using the power of a company credit card to help with training costs.Listen and view episode notes
Looking To Get Out? Candid Talk on Succession Planning.
Cecil Bullard joins Carm Capriotto for this interview at ATE in Seattle. A very special interview with a deep conversation on succeeding your business. Statistics reveal that the average shop owner is in their late fifties. A quality succession plan can take 5 to 8 years.
There are many great pieces of advice and wisdom discussed including family issues, what happens after I sell, what place does your ego have in the transaction, and when do you become a coach and not dad.
For non-family transactions, there is some wise advice on structuring a deal. Cecil gives a blueprint on the steps to building a succession plan.Listen and view episode notes
The Rule of Holes: Know When To Stop Digging
Knowing your break-even point — the point at which total cost and total revenue are equal is important to running a business. It is not just good enough to reach your daily break even, you must exceed it if you are to stay in business.
Knowing the break-even point is helpful in deciding gross margin on parts, labor rates, setting sales budgets and preparing a business plan. If you do not reach your daily break-even then there is a great chance that you had a loss of profit for the day.
This episode provides a worksheet download for calculating break-even. The numbers will come from your financial statements. Your accountant can also provide them. The key to knowing your break-even set the tone when you are reaching for your profitable sales goal. You’ll know what the minimum excepted number is without digging yourself into a hole.Listen and view episode notes
How To Get Value From Recorded Service Calls
Listen and learn from Rena Rennebohm, service advisor coach and the Chief Training Officer of ACT Group, Keith Williamson, president of Williamson’s Repair and Tire in Bondurant, IA and service advisor Lauren Giver, from Los Gatos Auto Service in Campbell, CA.
Listening to just one side of a customer call does not do justice in improving and training your service advisor. Service advisers need quality training, no different than technicians and business owners and the recorded phone call is an important element to that training. Save good calls and go over what a good call sounds like. If your shop does not record calls, then get your shop secret shopped. You’ll be convinced.
Find one phone call that works play it over and share it with your team; you will grow your business. Recorded calls and coaching helps to convert and opens the learning to be a better communicator. A great outcome of recorded calls is the opportunity to make changes to your policies. You’ll discover what works and what doesn’t.Listen and view episode notes
The Four Cornerstone Approach to Service Counter Success
David Eschbach shares his method for improving the relationship and experience with the service advisor and customer.
Here is an in-depth discussion on improving your service counter. It is no secret, we have great people on our service counters and a regiment of training brings fresh ideas and helps tighten your customer relationship.
David shares his Four Cornerstone approach to service counter success. It is a simple process as we look to your customer and discover: What is Broke, Why is it Broke, and then give them a Statement of Benefit and Recommendation and finally Explain How are we Going to do the Repair. Of course, money is a byproduct of a great service experience.Listen and view episode notes
Are you viewing your client and their car as one?
There are too many disruptions in the industry that drives big reasons to hold strong relations with your customer. Understanding your customer and their vehicle as ‘one life condition’ is the foundation of this Academy discussion.
Jeremy O’Neal, Greg Buckley and Jason Malo discuss the power of moving from transactional to ‘relationship holding values’.
They say future technology will minimize the number of calls that come in the shop, therefore, you cannot see the vehicle without seeing the customer. It must be personal.
There are plenty of cars to repair, and you must maximize your staff’s training and extract their intelligence to move your business to new heights and even into other markets. They conclude that the culture of the shop creates the clients.Listen and view episode notes
Do You Have a Sales Culture or an Automotive Culture At Your Service Counter?
Jason Servidio, Vice-President of Transformers Institute found his calling as a service advisor. He then realized his passion for teaching sales training. Today he teaches service advisors how to be at the top of their craft.
Learn about sales technics that advisors need to master, what qualities to look for when hiring a service advisor and how to measure ROI on service advisor training. Jason shares what to do when the customer says no and why marketing money is wasted if the sales counter is not great at making long-term customers out of marketing campaigns.
Jason also shares his simple yet important retention tactic. He also shares his view of the number of service advisors to technicians need to run a successful relationship building shop.Listen and view episode notes
Do You Have the Technique to Close More Sales?
If you sell service or tires Dennis McCarron says, “The person who controls the sales process is the listener.” Dennis brings his passion for behavior analysis to this episode that can be titled the ‘Psychology of a Sale’. You will learn a formula to improve your selling technique.
Our customer doesn’t come in wanting to buy something. It is not about your ability to sell but how skilled you are to present the solutions. If you present a product to a customer that solves three of their needs the probability is high to close.
All aftermarket organizations are sales organizations. Dennis brings a great perspective to appreciate the sales technique. This is Dennis’s second appearance on the podcast.Listen and view episode notes
Listen to Chris Cloutier from Autotex.me and Jermey O’Neal from Advisor Fix in a round table discussion on this very subject. They bring to light the many reasons that digital selling is here to stay and it will alter the way business is done into the future.Listen and view episode notes