As you work “on” your business each and every day, you’re mostly looking at the big picture as you continually chart its course. As a matter of routine, you analyze ROs, measure KPIs, track gross profit dollars, grow sales, interact with customers, engage with your employees and the list goes on.
Sometimes in juggling all of these responsibilities, you might not realize how much of an impact you have on your employees. Or, how they look to you for direction and guidance, whether they ask for it or not, making your efforts at “leading by example” all that more important. And, how continuous process improvements require a buy-in from everyone on your team, so all the more reason to engage and empower your people.
Those were a few of the messages that rang loud and clear at the recent K&M Tire 50th Anniversary Conference that Tire Review attended at the end of January in Columbus, Ohio.
I’d like to share some other key takeaways from the general session and seminar lineup:
- “If it’s meant to be, it’s up to me. Just walk the talk.” – Cheryl Gossard, K&M Tire president, on taking ownership to produce results.
- 61% of Americans can’t afford a $1,000 repair emergency. – West Creek Financial on the importance of offering financing options to your customers.
- 20% of people who walk through your door will leave. – Craig Wallick, Goodyear Tire & Rubber Co. sales manager, on how to close the deal by having the right tire inventory at your store for the vehicles in operation (VIO) within a 10-mile radius.
- 62% of new hires in 2020 won’t require college degrees (so lots of competition for talent). Twenty percent of new hires resign in the first 45 days because of discord with their supervisor. Fifty-three percent of the best companies in the country offer a detailed “pre-boarding” process before new hires start (to make them feel welcome). – K&M HR team on hiring and retaining key personnel.
- Only 34% of U.S. employees are fully engaged at work. Fully engaged people are 19% more productive at their jobs. – Phil Avery, director of learning and development for Best-One Tire & Service, on leadership and cultivating a winning culture in your business.
All of this points to carving out time to build your business—one that boosts productivity and employee morale, builds the foundation for quality repairs and exceptional customer service. That way, you’ll create a platform to increase customer trust and confidence that will result in a constant flow of vehicles coming your way for tires and service.