Unstoppable Framework for Auto Shop Owners Part 2: Mastering Your Finances [RRR 1004]
Part 2 of the “Unstoppable” series, the episode focuses on “Mastering Your Finances.” Maryann Croce emphasizes the importance of understanding financial statements, calculating profit margins, and managing cash flow. She shares practical advice on building financial reserves and separating personal and business finances. The conversation aims to empower shop owners with financial literacy, enabling them to make informed decisions and ensure business sustainability.
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Rising Car Theft and Licensing Challenges [RR 1003]
Recorded at the 2024 ASTA Expo, Keith Perkins discusses critical issues in the automotive industry, including locksmith licensing, car theft, and the aftermarket scan tool validation program. Keith emphasizes the importance of continuous learning and the challenges of misinformation and fear of change within the industry. The conversation highlights the need for better communication between industry professionals and lawmakers, urging technicians to stay informed and proactive in adapting to evolving technologies and regulations.
remarkableresults.biz/e1003
Planting a Copper Beech Tree: Preparing for the Next 150 Years [RR 1001]
Scott Brown shares his profound journey through significant health challenges, specifically his battle with bladder cancer. Scott reflects on the lessons learned from his experiences, emphasizing the importance of living in the moment and preparing for the future. He discusses the emotional impact on his family, the illusion of control, and the necessity of succession planning. Scott’s story is a powerful reminder of life’s unpredictability and the need to cherish each day, encouraging listeners to take proactive steps in their personal and professional lives.
remarkableresults.biz/e1001
Profit is not a Dirty Word [FTR 106]
Nichole Bennecoff discusses misunderstood and negatively perceived concepts of profit, especially within local businesses and the automotive repair industry. Nichole provides actionable advice to help business owners and employees alike understand the critical role of profit in business sustainability and growth.
remarkableresults.biz/f106
The Race to Electric: How Chinese Manufacturers are Changing the Game for Legacy Automakers [RR 989]
Derek Kaufmann, managing partner at Schwartz Advisors, discusses the transformative changes in the automotive industry, particularly the rise of electric vehicles (EVs) and the influence of Chinese manufacturers. Derek shares insights on China’s significant investments in EV technology and battery production, highlighting their impact on global market dynamics. The conversation also covers the challenges faced by legacy automakers in the U.S. and Europe, the competitive landscape of EVs, and the future of the automotive market.
remarkableresults.biz/e989
From Partnership Struggles to Solopreneur Success [RR 988]
Nate Winston shares his inspiring journey of transitioning from a challenging 16-year business partnership to becoming a successful solopreneur. He discusses the challenges of misaligned goals and work ethics within the partnership, which led to emotional strain. Nate also discusses his plans for the future and offers valuable advice for anyone considering a business partnership. Tune in to learn from Nate’s experiences and discover insights to help advance your own business in the automotive aftermarket industry.
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What’s The Worst Piece of Advice You’ve Ever Been Given in Business? [THA 397]
Join our panel of shop owners as they discuss the worst advice they’ve received in the automotive business: “Be the cheapest in town; it will get you more business.” “Don’t give a price over the phone.” “Don’t get personal.” “DVI’s are not worth the extra time.” “You’ll never make it because you’re too honest.” “Don’t hire a business coach.”
remarkableresults.biz/a397
Is the Automotive Industry Ready for a Language Revolution? [RR 980]
Michael Smith discusses the need for a language and mindset shift to elevate the perception of automotive professionals. The conversation highlights the transition from viewing independent shops as “mom and pop” operations to recognizing them as sophisticated businesses led by “solopreneurs” or “mechanical and technology specialists.” Michael also introduces the concept of psycholinguistics, explaining how the words we use shape our beliefs and self-perception. For instance, identifying oneself as a “mechanic” can reinforce a limited self-image, trapping individuals in a cycle that hinders growth and innovation. To break free from this cycle, there must be a conscious effort to change the language used within the industry.
remarkableresults.biz/e980
Profit First Update: Cash Management Revolution [THA 389]
Join Dan Bryant and Heather DePriest as they discuss the transformative power of Mike Michalowicz’s ‘Profit First’ methodology. Heather and Dan share their success stories and discuss the essential principles of cash management that have helped them grow their businesses sustainably. Tune in for insightful discussions on budgeting, cash allocation, and the critical role of business coaching.
remarkableresults.biz/a389
Today’s Auto Parts Quality and Supply Chain Complexities [THA 379]
Industry leaders John Hanighen, CEO of Cloyes, Matt Buchholz, CEO of Motorrad, and Andy Fiffick, CEO of a 10 store franchise chain in Cleveland, dive into the current state of the supply chain within the automotive aftermarket, addressing issues of product availability, quality concerns, and the impact of unpredictable demand. Insights into data-driven forecasting, manufacturer-distributor collaboration, and the importance of communication between suppliers and auto repair shops are also explored to give a holistic view of managing challenges in the aftermarket industry.
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Unpacking the Dynamics of Consumer Choice and Pricing [RR 924]
The Value Paradox: We all want top-notch service without the hefty price tag. However, quality comes at a cost. Andy Bizub explores this conundrum and how it mirrors the choices we make. Consumers often face a choice between the cheapest and the luxurious with little interest in the middle ground. This observation sparked a conversation about how the automotive industry can apply this pricing strategy to their businesses. Remember, it’s not just about the price; it’s about the value and experience you provide.
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Stop Thinking of the Business as You: Think of it as a Separate Entity [RR 910]
Maryann Croce discusses the importance of separating personal identity from business identity. Maryann, a coach and shop owner, emphasizes the need to recognize and embrace different roles in life, such as being a leader, family member, or partner. She suggests that separating these identities can lead to growth, team collaboration, and the ability to assess…
Listen and view episode notesNavigating the Tesla Terrain: Insights from Seth Thorson [RR 908]
Recorded Live at ASTE 2023, Seth Thorson shares insights on owning a Tesla, including the availability of parts, diagnostics, and his experiences with long-distance driving in a Tesla. He addresses misconceptions about EV charging stations and the topic of EV fires. Seth’s expertise and passion for Tesla and EVs are truly inspiring and informative.
remarkableresults.biz/e908
Thriving Through Our Economic Challenges [THA 357]
Recorded Live at AAPEX 2023, Greg Bunch and Matt Fanslow discuss the impact of the current economy on the automotive aftermarket industry. They explore various aspects of business such as margins, advertising, training, hiring, labor rates. The conversation also covers the potential loss of independent repair shops, and the need for better communication with customers.
remarkableresults.biz/a357
OK, I Raised My Labor Rate: Now What?! [THA 355]
Raising labor rates is not just about increasing prices. It’s about finding more value in the industry and positioning ourselves as professionals.
Join our panel as they highlight the need for understanding the concept of effective labor rate, ensuring services are charged appropriately, viewing the business as a professional entity, providing a positive customer experience and addressing core business problems before raising labor rates. Our panelists encourage shop owners to take a comprehensive approach to their business strategy, considering all factors and not just focusing on raising labor rates.
remarkableresults.biz/a355
Congressional Testimony: Right to Repair Update [RR 902]
Recorded Live at AAPEX 2023, our panel dives into the progress of the Right to Repair bill that could potentially reshape our industry. Without the Right to Repair Act, our industry could face a staggering $93 billion hit by 2035. Kathleen Callahan, who testified in front of Congress, shared her experience and the momentum it created for the bill. It’s crucial for industry professionals to understand the bill, advocate for it, and engage with their communities and legislators.
remarkableresults.biz/e902
Life Calibration: From Burnout to Balance [THA 348]
Our panel explores the challenges of achieving work-life balance and how it affects busy professionals and entrepreneurs. The key takeaway was the importance of operating with the mindset of wanting employees’ lives to work both inside and outside of the shop. Eddie Lawrence shared his personal story of experiencing a health crisis in 2015, which served as a wake-up call for him. As a business owner, he had been prioritizing his work over his own well-being. This realization led him to create ‘Life Calibration,’ a framework to help individuals prioritize and improve different areas of their lives, not just for themselves but also for their teams.
remarkableresults.biz/a348
Build Your Labor Rate From the Ground Up: Part 2 [THA 346]
Part 2 of our labor rate discussion in the automotive aftermarket industry. Our panel emphasizes the importance of setting labor rates based on the shop’s own expenses and profitability, rather than comparing them to competitors. They also stress the need for regular labor rate increases and educating staff about the financial aspects of running a shop. They address fear and mindset issues that can affect labor rates and overall success. The episode provides valuable insights and advice for shop owners in effectively setting and managing their labor rates.
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The Unspoken Reality of Grief [RR 885]
Jock Brocas, Author, Publisher, Researcher and Evidential Medium discusses the topic of grief and its impact on individuals and society. Jock shares his personal experience with grief and emphasizes the importance of integrating it into our lives rather than trying to recover from it. He explains there is a societal fear and discomfort surrounding grief and how it affects our ability to support those who are grieving. Jock offers insights on empathy versus sympathy and encourages engaging with those who are grieving. He also discusses the transformative power of grief and the importance of leaders in the automotive industry supporting their team members who may be grieving. Jock shares his simple model for coping with grief and emphasizes the power of choice. It’s our hope that this conversation will inspire you to approach grief with empathy, understanding, and acceptance.
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Catching Up with the ‘Car Coach’ Lauren Fix [AW 175]
‘Car Coach’ Lauren Fix discusses the topic of synthetic fuel, explaining Porsche’s investment in e-fuel as an alternative to electric conversion. Lauren shares her thoughts on EVs and the government’s role in mandating their use. She believes in the freedom of choice when it comes to the type of vehicle one wants to drive, be it electric, hybrid, diesel, or gas.
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Lost Everything: Started from Scratch and Bought a Shop [RR 882]
Aaron Weber, a shop owner from D & E Auto Repair in Chico, California, discusses his experience during the devastating Paradise Campfire in November 2018. Aaron shares how he and his family lost everything in the fire and had to start from scratch. He is transparent about the challenges they faced, including dealing with insurance, finding temporary housing, and seeking assistance. Despite the difficulties, Aaron emphasizes the importance of compassion and empathy, and how this experience has made him a better leader.
remarkableresults.biz/e882
Right To Repair NHTSA Update [RR 861]
Lisa Foshee, Senior Vice President of Government Affairs and General Counsel for the Auto Care Association, discusses the recent letter from the National Highway Traffic Safety Administration (NHTSA) instructing auto manufacturers not to comply with the data access law in Massachusetts. This letter has caused concern for those advocating for the right to repair legislation, as it could hinder progress.
But why is the right to repair legislation so important? It allows car owners to have access to the same diagnostic and repair information that dealerships have. This means that car owners can choose where to get their car repaired, and not be forced to go to a dealership for repairs.
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Advocacy, Action, and the Future of Right to Repair [RR 857]
Join Lisa Foshee, Senior Vice President of Government Affairs and General Counsel of the Auto Care Association, and Paul McCarthy, President and CEO of MEMA Aftermarket Suppliers Group, as they discuss the recent update to the law and the challenges that may arise in enforcing it. The recent decision by a federal judge in Massachusetts to allow the law to go into effect is a big step forward for the automotive industry, but there are still some challenges that need to be addressed. They discuss the limitations of the Memorandum of Understanding (MOU) model for data sharing between Original Equipment Manufacturers (OEMs) and independent repair shops and urge listeners to sign the petition at repairact.com and support the Federal Repair Act, also known as HR 906. Lisa and Paul describe the bill as a reasonable and critical solution to ensure vehicle repairability, safety, and cybersecurity. They stress the need for unified and passionate support from the industry to push Congress to take affirmative action and pass the bill.
remarkableresults.biz/e857
Going Electric in California [THA 320]
California is mandating 100% of new cars and light trucks sold will be zero-emission vehicles by 2035. How will electric vehicles change the composition of our industry? What are the service opportunities? Should you start working on hybrids if you haven’t already? Hear from the perspectives of 3 California shop owners that are ready and prepared for the future.
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Future Shop: Sooner Than You Think [THA 318]
Will diagnostic work overtake remove and replace work? How will you position and present your shop as a technologically advanced repair center? What training will our employees need? How will artificial intelligence impact our industry? Will we be prepared? Join Jake Sorensen, Chris Chesney and Derek Kaufman as they discuss the shop of the future.
remarkableresults.biz/a318