Many shop owners and technicians are finding it difficult to cope with the changes occurring in the auto repair industry. The idea of taking on the big MSOs (multi-shop operators) is making them consider selling their businesses.
Although these beliefs are limiting, small repair shop owners still have a competitive edge over their formidable rivals. That’s why it’s vital to work on the mindset rather than having the “I can’t” mentality to ensure your business’ success.
Rick Selover, Collision Industry advisor, motivational coach, and host of the Mind Wrench Podcast, joins Matt DiFrancesco in the Your Business, Your Life Podcast. They discuss the importance of investing in personal development to reshape how you conduct your business.
Managing daily demand, working on long-term goals, and maintaining a work-life balance are highly challenging for Auto Body shop owners. If we include the financial aspects and planning in this routine, juggling all of these would be impossible. So, it’s crucial to be prepared and have an expert around. Schedule a free 20-minute conversation with Matt DiFrancesco to align your business and life.
About Rick Selover
Rick Selover is a multi-award-winning sales leader, a collision industry consultant, and a former refinish instructor. He has been in the automotive repair and collision business for 45 years. He started working as a teenager in a body shop, sweeping floors and helping painters until he became a painter. From electrical boxes to fighter jets, Selover has painted everything. Eventually, he jumped into the sales side of the business and became a sales manager.
As much as he loved what he was doing, Rick knew that he couldn’t be a painter forever. So for the past few years, he got into self-development. This led him to become a motivational coach. He then started his own podcast: The Mind-Wrench, so he could share his experience and insight on mindset and self-improvement with anyone looking to reach their next-level life.
His passion is to help collision repair owners and leaders, especially the young owners in this industry. Rick wants them to develop themselves in their businesses for success in this quickly evolving industry.
Biggest Challenges That Automotive Business Owners Are Facing
The biggest challenge they face daily is the shortage of qualified technicians. This is the primary driving force that leads them to make decisions to either sell or get out. If you look at every service industry, whether it’s automotive, landscaping, electricians, or brick repair, whatever it is, there’s not an influx of young men and women wanting to get in. And then you couple that with the complexity of vehicle repairs. It is a nightmare for business owners dreaming of becoming automotive leaders.
Now adding on to this, the owner’s limiting beliefs. Sometimes, the owners are so ingrained in the daily activities that they somehow lose track of their vision. The “I can’t” mentality and the “I can’t compete” mindset. They’re letting their own limiting beliefs, talking them into selling their shop and getting out of it.
Every day, they’ll just go, “Yep, See, I knew that was gonna happen. Yeah, this, I’m probably better off if I just sell. I just can’t keep doing this.” And there are a million other excuses. This can be detrimental to business growth in the long run.
How To Get Out Of The Vicious Circle Of Self-Doubt?
Always start with the workforce. If you have your shop, you can create any work atmosphere you want. Have everybody on a team. Introduce a specific type of pay that works for them. You can even customize their incentives based on their needs. Make sure they can feel like they’re part of the ownership of that business.
“Developing a culture within the shop makes a tremendous difference.”
As for the business owners, they must take time to work on themselves. Instead of giving up, they can engage in self-improvement tasks to develop their mindset. You can only lead a team and turn your business into a multigenerational legacy when you become a strong leader. Take some renewal time and revisit your goals. Check if you have the same passion for capturing the automotive market. Evaluate your strengths and weaknesses. By following all of these steps, you will be able to regain control of yourself. That’s how you will become a leader and influence others. Getting rid of the “I can’t” mentality is half of the win!
Get In Touch With Rick!
The easiest way to get in touch with Rick is the visit his website. You will find links to all his social media handles. In addition, he has got a group and a page related to collision mastermind. You can join that to stay updated regarding the industry.
Contact HighLift Financial Today!
In the current automotive space, businesses need more than a person who has financial knowledge. The expert must understand the psychological aspects too. It will help put the puzzle together to get an accurate financial picture, as numbers aren’t everything.
If all future plans are based on numbers, there are very few chances of being accomplished. It is because there are managerial, operational, and leadership aspects too. Therefore, it would be best to have the key people for different business areas. HighLift financial can help you create a vision for your business, life, and family. Schedule a free 20-minute conversation with Matt DiFrancesco.
Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.