Shop Business Characteristics For Success

Throughout Canada there are many successful Independent shops. Many people within our industry measure business success through the finance equation only which obviously is a key if future survival is to be assured, however, there are many other criteria that also stand out today about the best shops across our land.

Consider the following:

1. Attitude: The best shop owners see opportunity where most shops will see obstacles. Consider many shops are overwhelmed with the technology development within our industry, yet the best shops see this as a fantastic opportunity to secure all the business from a client. They realize the client must now totally trust someone to maintain their vehicle properly, and the best shops say “it had better be our shop”, so they concentrate on developing the skill level within the shop to secure all the client’s business. You can feel this exciting attitude when you walk into their business.

2. Embrace Change: Too many shop owners constantly talk about and live in the past. They wish the “old” days were still here. The fact is change is constant and not an option today for the successful entrepreneur. The best shops look forward to their future with excitement and enthusiasm as they are stimulated about the changes taking place within our industry and see “change” as the catalyst that keeps them “engaged” within their business. They love the “challenge of the game”.

3. Deal With Problems Immediately: Successful shop owners do not let things “dwell”as they know this could develop into a business cancer. They are on the outlook for issues within the shop and “nip it in the bud” quickly before something develops into a potential out of control issue.

4. Don’t Fall For the Sales Pitches: The most progressive and outstanding shop owners make their decisions based on “hard facts”. They listen to the hype “out of courtesy” but they go back and do their homework.. They dig into how it would affect their business and make their final decisions based on this reality. Too many shop owners run their business based on “emotion” and “the message of the moment” while the best ones make the time and look into the depth of the story.

5. Can’t Do It Alone: Successful shop owners truly realize that they can’t, nor should be expected to, do everything themselves. They go out of their way to hire professionals that know their field of expertise, whether it be a skilled technician, a legal matter, or complex financial solution, they will never “wing it” on their own. They write the cheque. They realize, as in good staff, professional advice earns a great Return On Investment for their business.

6. Understand Risk: The best shops across our land clearly understand “how to do the math”. They know that because they are more progressive than most, that risk is sometimes required in order to stay on top. No one has exactly figured out all the pit falls and written the complete sure-thing rule book yet. They get the best advice available, re-crunch the math over and over, then make the best decision based on the facts gathered, however, they add one additional factor … they make sure they have a safety net to fall back on. When the “safety net” is in place then risk is an acceptable route to achieve the required progression for the business. It is when there is no fall back position, that risk can then, potentially, take a business down. The best shops truly understand the difference.

7. Pay Themselves First: Shop owners that stand out within our industry know that if they can’t have a professional income and great lifestyle for taking on “all this aggravation” then they are not going to do it. They know if finances are tight at home and they can’t enjoy what they want to do away from the business, then their attitude and stress level will change for the worse. They take the approach “this is what I am paying myself” and it is their first step not their last step. A proper budget plan is fully worked out to clarify what the business has to produce daily to meet this criteria, then they move quickly to set the business up to accomplish this goal.

8. Know The Real Costs: So many shop owners “wing it” when it comes to the cost of things. The best shop owners know there is a big difference between knowing what things really cost and what they generally cost. The difference is an “addition” or “subtraction” to the shop’s bottom line and successful shop owners don’t play around with the shop’s bottom line.

9. On Top Of Affairs: Successful shop owners keep on top of their business, personal and all financial affairs. They have complete financial data about their business “in their face” each month. They have a sound personal plan for their family. They are the first to contact their bank or financial advisors for discussion rather than wait for them to make the contact. They leave nothing for granted.

10. Have Pride: Too many shop owners cover up their personal insecurities camouflaged with the term “pride/proud”. Successful shop owners are secure within themselves (because they took the time and learned the knowledge required) and take true inner-self pride in their accomplishments. They also deeply value their possessions. They are not arrogant about it, but they do have a confidence “aura” around them. It is this inner confidence and self-knowledge that people who really don’t know them may interpret as “indifference” or “arrogance” but it just isn’t so. These successful entrepreneurs are traditionally more than eager to give a huge helping hand to someone who wants to try, but they let the fact be known, they have little patience for people who just want things handed to them.

The bottom line to these characteristics is that the most successful shops within our industry have an incredible desire to be the best that they can be. They take charge over all their affairs. Consider … isn’t this what all of us should strive for today?