RR 471: Vin Waterhouse on Intensive Labor Rates and Financial Benchmarks
Are you aware that you are selling fewer parts? Do you understand that the hours of diagnostic work you do does not reflect the typical parts sales per hour that your financial business model has generated in the past?
So what you say. Ouch! The wrong attitude. You are bleeding to death and the math exists to prove it. You must pay attention to having an intensive or recovery labor rate. In this episode with legacy aftermarket coach and trainer, Vin Waterhouse, we get into the power and value of benchmarks and how to calculate a recovery labor rate.
If you are not happy with your net operating income (your bottom line) vs the hard work and time you spend at your business, then Vin may just help you formulate some next very important moves you need to make, so your financial strength improves.
Vin Waterhouse is President and Founder of The Waterhouse Group, an automotive Accounting, Training, and Coaching.Listen and view episode notes
Implementing Profit First – Shop Owners Thrilled With Results
This episode will change your thinking as it relates to a new profit discipline and cash management. I know you know that cash is king in any business, so start being a better manager of it.
Listen in on Danielle Bohlmann, owner with husband Brett in Highway 7 Service Center, Newell, IA, Kenny Wedow from Fine Tuned Auto, Broomfield, CO and Chris Cotton, Certified Profit First Professional from AutoFix SOS coaching company and a former shop owner.
They nailed the benefits of a strong and disciplined cash management system. Both these shop owners say they are in a better place because of implementing Profit First. Danielle and her husband Brett always plowed all their money back in their business. Now hear what they are doing and are better for it.Listen and view episode notes
Dan Gilley – Attracting the Right Talent with the Right Stuff
Every new and young technician today have a lot more shops to choose from. Let’s face it, there is a lingering issue of the technician shortage. If you are a business owner, what do you need to do to attract and/or retain talented individuals that possess the ‘right stuff’.
If you are a business owner, how would you attract an employee? What are the things you would do to improve your shop and make it as attractive and organized as it could be? Dan Gilley will bring light to decisions addressing the best interests of the would be future candidates/employee of a shop. Dan Gilley is the President and CEO of RLO Training.
In this episode, you will understand the utmost priorities needed by shop owners to address the how to attract the right kind of employees and what are the necessary tactics in order to keep them. As Dan would say, it’s either you attract them or repel them. Is it just for the paycheck or the team?Listen and view episode notes
Maryann Croce – What advice would you give a new business owner? Will this advice benefit the established business person?
Would you like some advice on starting a business. What if you could apply this advice to your established business. With me is Maryann Croce from SmallBusinessvantge.com. She and her husband Tony also own Croce Transmission in Norwalk, CT.
As a business owner, she can chalk up many a mistake that has turned into wisdom. She has been there and done that and shares 5 key principles to help a startup business person get ahead of the game. She is speaking to resilience, commitment, getting help, being curious and giving. Learn why messaging, relationships and financials are vital no matter what stage you are and your business is currently in. Don’t believe you need to go it alone.
Maryann is also a member of Women in Auto Care and owns smallbizvantage.com. Her biggest mistake as a new business owner was thinking she had to do it all. This is one of the reasons why her signature talk “Gain Control by Letting Go” was created.Listen and view episode notes
RR 445: Chris Cotton – Certified Profit First Professional
My guest Chris Cotton is a Certified Profit First Professional and a business coach. He helps shop owners understand the fundamentals of money and the decision making behind it. He helps us manage our cash and how to set aside money obligations.
Chris’s AutoFix SOS coaching company is one of the select few consulting firms, nationwide, that has achieved certification in Profit First. His experience as a former shop owner relates to the struggles of shop owners to maximize their profits.
If you have ever wanted to know where your money goes, ever had a tough time paying your bills, meeting your tax obligations or ever held cashing your paycheck because you knew it will bounce; this podcast is for you.Listen and view episode notes
This Town Hall Academy summit will explore the value of an accountability coach. The panel has a harvest of thoughts and insight for you.
These guys brought their A game and really were extremely transparent about their own personal story. The panel’s message resonated and was on point about coaching and accountability. There is a lot of talk in the industry as to the value of an accountability partner or coach. It is a personal decision. It is not for everyone, but this summit will help you resolve some of your very own concerns and help you make a decision.
The panel: Carlo Sabucco from Sils Complete Auto Care Centre, Oakville, Ontario, Kevin Eckler, Foreign Car Specialists, Poughkeepsie, NY and Barry Barrett a Professional EOS Implementer.Listen and view episode notes
Jim Silverman, Director of National Account at ATI, is outspoken on what it takes to be successful. He says he has the best job in the world and knows what it takes to turn ordinary service professionals into top performersListen and view episode notes
You should have the highest payroll in town, not the lowest.
A generation ago the shop owner didn’t need to know the numbers. How the world has changed and in this episode with Vin Waterhouse, as with all my discussions with business consultants and coaches, will push you to make the important changes that will catapult you from having a hobby or job into a career that rewards you for your hard work
Vincent Waterhouse, President and Founder of The Waterhouse Group, an automotive Accounting, Training, and Coaching company shares his strategy for business climate based on today’s changing business models.
Vin has over thirty years of experience in the automotive aftermarket. His specialty is working with auto repair shop owners to help them earn the profits they deserve.Listen and view episode notes
New Aftermarket Measurement – Cost Per Billed Hour
I’m with Bob Greenwood, President, and C.E.O. of Automotive Aftermarket E-Learning Centre Ltd. We are discussing how cost per billed hour affects the site’s total efficiency in maximizing net profits.
This episode tackles measuring your site’s efficiency with cost per billed hour as a new aftermarket measurement to maximize your net profits. The calculation reflects on all aspects of your labor rate, workflow, charging for diag time, and other critical performance metrics.
Important note for this episode. Since Bob is demonstrating his strategy and findings through formulas we decided to record the video of this episode so you can see how Bob arrives at the conclusion to his formulas. You can find the video version on the show notes page at remarkableresultsradio.com/e424 or on my Carm Capriotto youtube channel.Listen and view episode notes
Shop Talk 10 – Sold My Business – What’s Next?
Listen to former shop owners talk about their decisions and what they are doing now. Most importantly they suggest that you plan ahead for your future. We also get into the future as they see it.
My guests for Shop Talk 10 are veterans and influencers in our industry. Ron Haugen, a consultant, a teacher and a former shop owner from Westside Auto Pros in Des Moines; Dick Jobe, owns machine head, a metal art maker and a former shop owner of Downtown Import Service popularly known as Dr. Volvo; Doug Stoll, former owner of Susquehanna Auto Clinic and The Auto Clinic and co-founder of Vision, a part-time business coach and Jerry Holcom, co-founder of Vision, president of Midwest Auto Care Alliance and owner of S & S Service in Kansas. Our only non-retiree!
Remember the ability to think about or plan the future with imagination and wisdom is the very definition of what we aim not just for business but for our professional growth as well. What’s next for you!Listen and view episode notes
Barry Barrett – Book Review – Never Split The Difference by Chris Voss
Barry reviews and shows the principles of the book by Chris Voss and Tahl Raz called “Never split the difference – Negotiating As If Your Life Depended On It”.
Barry covers the premise of the book that builds a foundation for negotiation on the basis of understanding the other party through empathy and active listening skills.
Barry does a good job summarizing the book and bringing its principles to an aftermarket perspective.Listen and view episode notes
The Business Coaches LAB: The Art of Implementation: How To Get Things Done.
In our continuing series of the Business Coaches Lab, we work to help you get into gear. The coaches mostly agree that there a few key problems for inaction.
The discussion includes finding your momentum, your one thing, planning, reflecting and the fact that you are trying to do too much, you wear too many hats. If you want to be a better leader, CEO and all-around good person you need to give these coaches a listen. A ton of free advice for you.
I’m joined by Rick White from 180 Biz, Cecil Bullard, with the Institute for Automotive Business Excellence, Jude Larson from the ACT Group, and Murray Voth, from RPM Training. Key Talking points, already written for you that will give you a bulleted plan for improvement. Also, find my guest’s bio’s links to their coaching companies and links to their previous episodes at remarkaberesults.biz/a104Listen and view episode notes
Shop Talk 9 – Business and Leadership Transformation
I’m so glad to welcome Chris Machado from JCircle M Truck Repair, Inc. in Bakersfield, Ca and Corey Evaldi from Olmstead Auto Care, North Ridgeville, Ohio. Two leaders with contrasting style but unified in their quest for shop success.
Chris leads his life with no excuses while using his energy to help people. He values generosity, kindness and willingness to listen as part of his strong leadership traits. Corey loves perfection and is addicted to winning. He holds meetings with his people where their input is critical to the running of the business. There are a lot of things covered to help you grow your leadership and business acumen only here.
A bright vision of success and a hope for more businesses. Don’t miss this.Listen and view episode notes
The Business Coaches LAB: The Five Dysfunctions of a CEO. Becoming a Better Leader.
Learn about these Dysfunctions: the Absence of Trust, the Fear of Conflict, the Lack of Commitment, the Avoidance of Accountability and the Inattention to Results.
In the LAB is Bob Greenwood from the Automotive Aftermarket E-Learning Center, Cecil Bullard, with the Institute for Automotive Business Excellence, Jude Larson from the ACT Group, Rick White from 180 Biz and Murray Voth, from RPM Training.
There is a large amount of bonus material and links to their firms and their previous episodes on the show notes page at remarkableresults.biz/a090.Listen and view episode notes