What We Can Learn From The Falco Family Business [RR 947]
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network
Rich Falco and his twin sons, Zack and Tyler, discuss the intricacies of family business succession in the automotive industry. The Falco’s share their personal experiences, emphasizing the value of learning through challenges and the significance of understanding both the technical and business aspects of the industry. They explore the dynamics of customer interaction, continuous professional development, and the evolving nature of automotive technology.
Rich Falco, Diag on Demand, Instructor at Carquest Technical Institute. Listen to Rich’s previous episodes HERE
Zack and Tyler Falco, Diag on Demand.
Show Notes
- Watch Full Video Episode
- Succession and grooming (00:00:51) Discussion about succession, grooming, and growing young talent in the automotive industry.
- Training and learning experiences (00:01:34) Rich discusses letting his sons fail and learn while working together in the business.
- Challenges of being a mobile technology specialist (00:04:10) Zack talks about the challenges of being a mobile technology specialist and learning to interact with customers.
- Learning from experience (00:05:29) Zack and Tyler discuss their learning experiences and the importance of admitting when they don’t know something.
- Future of the business (00:09:04) Rich discusses the challenges in generating revenue and the potential changes in the industry for mobile work.
- Working together as a family (00:15:10) Tyler shares his experience of working with his dad and brother, highlighting the dynamics of their working relationship.
- Learning from Job Experiences (00:16:05) The speakers discuss the continuous learning experience and the value of mistakes in their work.
- Passion for Working with Hands (00:19:00) Zack expresses his enjoyment of working with hands and the satisfaction in understanding the technical aspects of his work.
- Diagnostics and Gray Areas (00:19:47) The conversation delves into the complexities of diagnostics, the gray areas in the auto repair industry, and the appeal of clear-cut logic in technical work.
- Changing the Perception of Technicians (00:22:18) Challenge the traditional perception of technicians and advocate for a shift towards recognizing them as technology specialists.
- Transition to Advanced Technology (00:23:44) The conversation highlights the transition to advanced technology, including the need for specialized equipment and the future of automotive technology.
- Business Education and Succession Planning (00:25:40) The importance of business education, succession planning, and the need for understanding the financial aspects of the business are discussed.
- Client Experience and Problem-Solving (00:29:34) The significance of following up with clients and the emphasis on problem-solving to build strong relationships with customers is highlighted.
- Succession and Family Business (00:32:39) Discussion about the succession and future of the family business with Rich, Zach, and Tyler Falco.
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network
Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX – Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR
NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/
Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com
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About the author, Carm Capriotto, AAP
Carm is the founder and host of the Remarkable Results Radio Podcast and the pioneer of automotive aftermarket podcasts. Carm calls on his years of experience in the aftermarket to bring engaging stories from his guests.
Listen to raw, unfiltered, honest, and sincere stories that include insights, trends, best practices, and expertise. Each interview brings an opportunity to learn one new thing through the stories of personal achievement. Many podcast guests tell their story of transformation from working in their business to working on it.
As host of over 1,000 episodes, Carm uses his enthusiasm and passion for the aftermarket especially the service sector to take his listeners on a journey showcasing successful service professionals’ paths to Remarkable Results. He also enjoys interviews with aftermarket industry thought leaders who bring their industry perspectives to his listener.
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