Once upon a time, my accountant had to prepare 102 W2s in a single year for my shop. We had so much turnover, dealt with so much chaos and were putting out so many fires that it was impossible for me to contemplate working “on” my business instead of “in” it. So what’s the way out? How can we break the cycle? I’ll come at this problem from two directions, but, truthfully, it comes back to a single principle: we have to focus on results instead of activity.
With each passing generation, our population landscape gets more diverse. The majority of communities throughout the U.S. and Canada have a makeup that is very different from a few decades ago. With these ever-shifting demographics, business owners are faced with the challenge of constantly reinventing their marketing and customer service efforts if they want to cater to all potential customers.
OMG! It’s about time there’s an article about Millennials (also known as Generation Y) and how they use the Internet. Millennials were born between 1980 and 2000, and there are more than 79 million of them in the U.S. Got any of them coming into your shop? Of course you do. And here’s a hint … they’re different!
Due to current economic conditions, it’s likely that collecting on your accounts receivables is becoming more and more of a challenge. Strengthening your collection procedures may allow you to improve collection rates and shorten the aging days of your accounts receivables. The following suggestions will help your business improve its cash flow and tighten up its credit and collections policies.
While every transfer of business ownership is unique, unforeseen challenges – in this case, a national business recession that resulted in decreased sales and complicated by environmental and family ownership issues – can cause the selling process to drag on for what seems like forever, to the frustration of all parties involved.
I recently asked a friend in his late 50s about his plans for retirement. He told me he expected to die at his desk – and he was serious. He gave no thought to a time when he wouldn’t be in his business. Part of being a proactive business owner requires that you look a few moves down the chessboard – whether that means keeping the business in the family, turning it over to a management team so you can golf more or selling the business.
In 2012, Matt Curry, former owner of Curry’s Auto Service shops in Virginia, founded The Hybrid Shop to solve an emerging problem in the growing hybrid automobile market. “The only solution for hybrid vehicle owners experiencing poor vehicle performance is to go to the dealer and have the battery replaced,” says Curry. He adds that the cost of a new battery can run as high as $4,000. “That’s the only solution that a dealer offers.”
Most shop owners will start pumping more money into their marketing campaigns when they are looking to increase their car counts. This can help bring new customers into your shop, which is certainly important, but the value of your new customers diminishes if you’re unable to keep them coming back. There will be no greater key to your success in the coming years than your ability to create a memorable customer experience that shows your customers you genuinely care about them, so here are seven tips that will help you deliver extraordinary service, and keep your customers coming back to your shop for years to come.
Last year, I described resolutions as promises you make to yourself in hopes of making a positive difference in your life and the lives of others. You know … those promises you usually break before the second week of January! How about breaking that cycle? Let’s revisit some of those resolutions from 2013 and take a look at new resolutions for 2014.
In a society that is increasingly becoming accustomed to instant gratification (you can find just about any information with a quick Google search), it should come as no surprise that the motto at Mark’s Auto Service in Rockford, IL, is, “We fix it all, right here, right now!”
