Navigating The Roller Coaster Ride Of Running A Small Business, And Realizing The Importance Of Personal Well-Being
Running a small business is simultaneously one of the most frustrating and rewarding journeys a person can embark upon. Even more so when that small business is an auto repair shop. The highs and lows can both be extreme – one minute, you’re on top of the world and everything is going great. The next minute, the sky is falling and nothing seems to be going right.
Location, Location, Location Should Come Last: A Detailed Guide To Help Reproduce Your Success In A Second Shop
Opening a second location is a tempting idea for many shop owners, and why not? Twice the sales, twice the profits, and a chance to go through the process again and do everything right the second time around! If only it were that easy.
Common Questions From Shop Owners Who Are Thinking About Selling Their Shop
The decision to sell your business is one of the most important decisions of your lifetime. Turning your operation into cash is a complex matter involving a number of variables, many of them unique to your business and to the auto service industry. Additionally, you may be facing an uncertain economy, unbridled competition and sophisticated buyers.
Standing Apart From The Competition
In the tire and service industry, we all need to accept the fact that we’re going to have competition. With competition comes choice. Customers have many alternatives and when lured away by a competitor, we may not get their business back very easily.
How Your Previous Year’s Taxes Will Affect The Sale Of Your Shop This Year
Jim’s Auto Repair and Tire has been a fixture in a Midwest community for 31 years. Jim is now 64 years old and has agonized about when to retire for the past couple of years. The business has enabled him to live a good life despite the ups and downs of the local economy, put his two children through college and spend more time lately on his hobbies.
How A Pay Plan Can Impact Team Culture
One of the single biggest mistakes that shop owners make is paying employees a straight hourly wage. That’s because it breeds the wrong job mentality.
Executive Interview: David Saline, Vice President Of Sales, Management Success
David Saline started out as a client with Management Success and joined the team by leading training seminars. He is now the Vice President of Sales at Management Success, while continuing to run two shops.
Knowing What Numbers To Watch
There was a time when you could take care of your customers and your people and the rest would take care of itself. It’s a lot more complicated than that today to run a successful business.
Guidelines For Employee Raises
Before you start giving raises to your auto shop employees based on tenure alone, consider this: outside of raises that are based on an increase in the cost of living, all raises should be commensurate to the productivity of the employee.
$47,476 Is The New $23,660
On Dec. 1, 2016, about 4.2 million exempt employees in the United States will become non-exempt. And some of those employees probably work for you.
