Articles & Business Support

Income Statement Example

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Have You Considered Raising Your Labor Rate?

Dealer often think about their labor rate.  It becomes even more complex during times of economic uncertainty.  However, you should consider many factors and do the right thing for your business.  Now might be just the right time.

How to Leverage Inspections to Drive Business

By making inspections part of your business, you are helping your customers better maintain their vehicles. And you are giving yourself more of an opportunity to perform those services.  While many understand this concept, too many are not maximizing this opportunity to its fullest.

It’s not “Just an Oil Change”

The most common service that consumers have performed on their vehicles in an oil change.  This is an opportunity to drive customers and improve your business’ bottom line is you approach it the right way.  However, if you look at the customer as “just an oil change” customer, that is all they will ever be!

It All Starts With the Phone

You send a lot of time, effort, and money marketing your business to drive new customers.  However, all of that could be for nothing if you and your team are not effective on the phone.  Make sure what your customers experience on the phone makes them want to come in your door.

Plan for the Unexpected – Are You Ready for the Next Crisis?

The COVID-19 crisis effected us in ways that we could not have imagined.  However, those that had plans in place for even the most unlikely of circumstances were better prepared.  Plan now for what might happen in the future.

Are You Protecting Your Most Valuable Assets

Some of your most important assets have no direct tangible cost or value.  These are your business reputation and your relationship with your customers.  It is vital to protect these fragile assets.

Technology and Talent: Now is the Time to Get Ahead of the Learning Curve

Without a doubt, the top two concerns are technology and the growing talent gap. Both of these issues will be dramatically shaping how owners do business in the near future and for years to come.

There are 3 Types of Learning: Each Has Its Upsides and Downsides

There are three main ways employees learn how to do their job: formally, informally and non-formally. All three have their place in developing skill, and one isn’t necessarily better than the other.

Batters’ Up! From Leadoff to Cleanup, Here’s How to Grow Your Business

One common, yet multi-layered question asked of me is, “How do I grow my business?” Fortunately, there is a blueprint.

Monetary Bonus Programs: Now is the Time to Sit Down and Review Them

Here is a review of some common bonus programs, their advantages and disadvantages, as well as a suggestion to at least consider.

Assessing Performance: Employees Need to Know What is Expected of Them

One of the more frequent questions posed by tire and service dealers when dealing with performance assessments (or employee reviews) is the obvious one: “How do I get started?” Once we get the structure of a proper assessment out of the way, then we’ll get into the details of what you should say and how long it should be.

5 Rules of Employee Reviews: Assessing Performance is a Collaborative Effort

Assessments help simplify the complicated legal universe in which it is so difficult to terminate an employee or indemnify a business from problems stemming from unemployment, retaliation, promotions, wage increases and decreases, and many more situations.

Don’t Cave to ‘The Cave’: Embrace Change One Step at a Time

Have you ever watched a company try to change its culture or even just a simple process? It is often either a comical series of foreseeable events or the saddest thing you’ve ever seen depending on your point of view.

Bull’s-eye on Your Back: How to Avoid Invasive Government Fines

Three huge issues in automotive management have just come together recently that if you own or run a shop, should take top priority, even over customer satisfaction, (at least temporarily).

Real Sales Training and the Science — Not Magic — Behind It

There are no magic steps. So let’s look at the science and practicality of what sales training is and isn’t.

Financial Checks and Balances

How solid is your business? It starts with the balance sheet.

Facts, Figuring and Finger Pointing: As a Manager, Try to Rely on ‘Just the Facts’

For my first Modern Tire Dealer column, I am going to modify the journalistic concept of “Report, Inference and Judgment” to managing your businesses. I prefer to address “Facts, Figuring and Finger Pointing.”

Train Potential Leaders: Say No to My Way, No Way and Any Way

Owners at some point give authority to others in their stores. Call them store managers or assistant managers: anyone who is in charge of others. It becomes a necessity to delegate authority to someone. You can’t handle it all.

Financial Analysis 101

It’s all about net profits. And gross profits. And payroll. And don’t forget about expenses.

Is There a Woodpecker in Your Business?

Don’t let an employee with a bad attitude sink your ship.

3 Dealers, 3 Success Stories

What do they all have in common? They’re all 20 Group members.

To Fee or Not To Fee

Recent lawsuit settlement allows dealers to charge credit card fees to customers.

Training the Right Way

No excuses! Make the right training a priority.

Budgeting for Success

Think of a budget as a road map to profitability.

Go With the Cash Flow

Analyzing your balance sheet and profit/loss statement is not enough if you want to follow the money.

Is Your Payroll Too High?

How to achieve the ‘magic number.’

Selling Your Business

Advance planning is needed to get your best deal.

Six Mistakes to Avoid

You survived…now what? Avoid these six mistakes as you put the recession behind you.

Breaking Down ‘The Theft Triangle’

These 14 steps will help keep your employees honest.

Are You Breaking the Law?

Pay your people correctly, or pay the price.