Episode 128 - One Employee Can Bring You Down With Erich & Lauralee Schmidt & Cecil Bullard
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Show Notes
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David and Lucas are joined by Cecil Bullard from the Institute for Automotive Business Excellence and his clients Erich and Lauralee Schmidt.
Erich and Lauralee share their experience with one employee who did not buy into the company's processes and ideologies and discuss its ripple effects on their business, including being on the verge of closing.
Topics discussed:
00:04:50 Chrysler tech turned shop owner after bankruptcy.
00:09:11 Career change, business growth, property purchase plans.
00:12:36 Staff turnover and burnout lead to challenges.
00:19:17 Ignorance and lack of care led to business failure.
00:26:28 The Service advisor lacked faith in the team; poor customer service and technician turnover.
00:32:44 We Need to focus on inspections for business success.
00:40:23 Terminated staff and hired new technician. Let others go for performance and financial reasons.
00:47:09 Employee discovers missing money and misunderstands P&L.
00:52:00 Losing focus led to business decline and termination.
00:57:37 Managing a successful business requires attention, problem-solving, and adjusting strategies. Pay attention to key performance indicators, invest in customer retention, and have a hands-on approach with your team.
01:02:04 Rebuilding, money, teaching sales, helping others.
01:07:44 Financial freedom achieved through a supportive team.
01:15:07 They changed the industry, overcoming toxicity.
01:21:51 Stability and clear expectations lead to success.
01:24:01 Appreciation for everyone's presence.