Adopting a Solutions-First Mindset

We’re in a weird place. The COVID-19 pandemic shut down much of the world, aggravated supply chains, led to a labor shortage and pumped up inflation. While pandemic precautions have eased, doing business seems to get harder. During the past two years, you’ve had to think fast and act on what was best for your employees and customers. Your decisions not only affected their well-being, but also the safety of their families.

A solutions-first mindset is one that has gotten you as an independent tire dealer through the last few years of health, economic, and, many times, emotional turmoil. Your business has changed in the last two years. Consumer buying behaviors have changed, and if there’s any lesson learned, it’s that we must evolve with it and always be in a solutions-first mindset. It’s hard, but as Michael Jordan said, “Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it or work around it.”

This quote sums up the goal of our latest issue. We’re calling it our “Solutions Issue.” It offers a glimmer of inspiration to take the next step to solve a business issue. Dealing with finding good people? Read about how McMahon’s Best-One is joining other elite dealers in creating an internal training program and career development for its employees, starting on page 14. Trying to sort out the next steps in your business? Look at the column from Schwartz Advisors’ Rick Schwartz on what to think about when you’re charting out a succession plan on page 22 of our digital edition.

Interested in boosting your shop’s culture and creating more wins as a team? “Trainer of Champions” Steve Ferrante, creator of Pinnacle Performance Training, gives you some tips in his latest column here.

Wherever you are in your business or personal journey, I encourage you to look at some of the advice these industry experts and tire dealers give. Our world is changing, and you must adapt and find solutions to help your business grow and reach the next level. Taking the first step means getting 1% better and slowly eliminating pain points. Let’s take that step together.

When I was in college, a business professor said something that really stuck with me: “As a business owner, you always want to have options.” I firmly believe my old professor was right, but I’ll add one additional caveat: Flexibility requires planning.

A key to success for any business owner is to give yourself options and avoid painting yourself into a corner. Options allow for flexibility to take advantage of opportunities or meet challenges that your business will inevitably face. Being flexible in your business includes avoiding customer or supplier concentration; using debt strategically to help you grow your business without burdening your balance sheet with the wrong kind of debt; managing operating expenses; and looking for opportunities to invest in growth. Those are the easy ones. But ask your fellow business owners (or your business partners) about their own succession plans and you’ll probably get a shrug of the shoulders.