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JASPER^® Race Products Performance Report

Seven Top Ten Finishers at Martinsville use JASPER 4-Speed Transmissions

Kyle Busch, running a JASPER 4-Speed Transmission, finished third in Sunday's Monster Energy NASCAR Cup Series STP 500 at Martinsville Speedway.  Denny Hamlin was fifth, as drivers using JASPER products took seven of the top ten finishing positions at the checkered flag.

A recap of the results from this weekend's race at Martinsville Speedway follows.

Monster Energy NASCAR Cup Series - STP 500 - Martinsville Speedway

3rd      Kyle Busch #18 (JASPER 4-Speed Transmission)
5th      Denny Hamlin #11 (JASPER 4-Speed Transmission)
6th      Kevin Harvick #4 (JASPER 4-Speed Transmission)
7th      Clint Bowyer #14 (JASPER 4-Speed Transmission)
8th      Martin Truex, Jr. #19 (JASPER 4-Speed Transmission)
9th      Aric Almirola #10 (JASPER 4-Speed Transmission)
10th    Daniel Suarez #41 (JASPER 4-Speed Transmission)
13th    Ty Dillon #13 (JASPER 4-Speed Transmission)
17th    Bubba Wallace #43 (JASPER 4-Speed Transmission)
20th    Matt DiBenedetto #95 (JASPER 4-Speed Transmission)
26th    David Ragan #38 (JASPER 4-Speed Transmission)
30th    Erik Jones #20 (JASPER 4-Speed Transmission)
33rd    Corey Lajoie #32 (JASPER 4-Speed Transmission)
34th    Ross Chastain #15 (JASPER 4-Speed Transmission)
35th    Jeb Burton #52 (JASPER 4-Speed Transmission)
36th    Cody Ware #51 (JASPER 4-Speed Transmission)

Monster Energy NASCAR Cup Series 2019 Points Standings

1st      Kyle Busch #18 (JASPER 4-Speed Transmission)
2nd     Denny Hamlin #11 (JASPER 4-Speed Transmission)
3rd      Kevin Harvick #4 (JASPER 4-Speed Transmission)
6th      Aric Almirola #10 (JASPER 4-Speed Transmission)
7th      Martin Truex, Jr. #19 (JASPER 4-Speed Transmission)
13th    Clint Bowyer #14 (JASPER 4-Speed Transmission)
14th    Erik Jones #20 (JASPER 4-Speed Transmission)
16th    Daniel Suarez #41 (JASPER 4-Speed Transmission)
23rd    Ty Dillon #13 (JASPER 4-Speed Transmission)
24th    Matt DiBenedetto #95 (JASPER 4-Speed Transmission)
26th    David Ragan #38 (JASPER 4-Speed Transmission)
27th    Bubba Wallace #43 (JASPER 4-Speed Transmission)
30th    Corey Lajoie #32 (JASPER 4-Speed Transmission)
34th    Cody Ware #51 (JASPER 4-Speed Transmission)

Ready for Your Next Shop?

I am one of the luckiest people in the industry, I get a chance to pull together smart people who have a passion for sharing and helping others. In the Town Hall Academy podcast panel discussions we cover the relevant topics of the automotive aftermarket.

One ongoing conversation in the podcast is consolidation. Now and even stronger in the future, competition with national and regional chains will grow. Can you compete? You betcha! Even with a single location you compete by offering what the larger chains are not, a deeper and lasting relationship with a loyal customer base. Alongside relationships, you are also going to need a great culture, dedicated people, well-honed processes, great systems, a culture of training, a professional environment for both customer and technician, great pay and benefits, the right tools and equipment and exceptional marketing.

For many service professionals that have built their well-oiled business, at some point they start to consider growing locations. That leap to your first, is a huge learning curve and if you and your company is poised for growth it may be time to pull the trigger.

Let this post serve up a few key pointers to help you align your thinking and plans on growing locations.

• Consider growing in one of two ways. Either through acquisition of a competitor or finding a location and starting from scratch.
  • Many say acquisition of another shop gives you a base to work from.
• Location is important.
  • You may be better off in a two-bay location in the center of town than a five-bay location on the outskirts of town.
  • Demographics are also very important to consider. Think about: what the income of your marketplace is? How many residents are within a five mile radius of shop. What is the average income?
• Team Building.
  • You need to build your team before you expand.  Decide ahead of time who is going to lead the new shop and have your team train their replacements. You personally cannot run both at the same time.
  • If you have become a great leader and delegator, growth will become easier than if you are a control freak.
• Confidentiality
  • Loose lips sink ships. The more people that know your plans the more expensive it will become! If you are negotiating an acquisition, the price could go up if a competitor discovers your plans. Ultimately, keep it private.
• Discussions with your top advisors.
  • You need to listen, but remember they do not know your industry as well as you. Their advice is important, but put it in context too.
  • Your financial house must be in order before taking the plunge. Review your latest Balance Sheet, Profit or Loss Statement and Cash Flow Statement.
    • Cash Flow is as important as a Profit or Loss statement because it shows where your money is tied up and how it flows in and out of the business AND because many businesses, go out of business not because they are not profitable, but because they run out of cash.
  • Lawyers are paid to say no, however they must read every contract or agreement you sign.
  • Lastly, you need a strong relationship with your banker so they can react as fast as you need them too. They may suggest creative ways to finance the deal, but at the end of the day, wins.

• Negotiations. Challenges. Either business or property.
  • Everything is negotiable and sometimes it is good to buy the land and other times renting will still make you a nice profit. If you do not have the funds to buy the property, set up a deal where you buy the business, maybe owner financing (win/win), then have it in the contract so in 5 years you can purchase the property. There are options.
  • Keep in mind sellers have their blood sweat and tears in their business and feel that their business is worth more than it really is unless the numbers prove it.
• Due Diligence - a comprehensive process.
  • It is up to you to discover everything about the business you want to purchase. All financial information is up to you. This includes: Balance Sheet, Profit/Loss Statement, processes, procedures, payroll, systems, job descriptions, payroll and environmental issues of the property.
    • Be cautious if you get the information quickly and that it tells you something, if it takes way too much time, that tells you something.
    • Many sellers are overwhelmed with the request regarding the comprehensive nature of the due diligence process.

• Mentor(s).
  • You need a mentor, you may even need two, but many in the industry are willing to help.
  • Understand what a mentor does, as it will help you see what is around the next corner.
  • You need to take their experiences and blend them into your own vision and talents.
• Business coaches and consultants can help in a very big way.
• Do not be afraid to ask for help or admit you do not understand something.
• You will need to have a marketing budget. Retaining and growing customers is a hard cost.
  • If you bought an existing shop, you will need to promote to the existing customers.  Be prepared that you may lose some based on the change of ownership.

• You will hit the wall.
  • It happens to everyone. Expect it. It will happen. You must be prepared for the wall, so it does not break you.

This is not the exact blue print to create your acquisition strategy, but these pointers will serve to get you thinking in the right direction. For some, adding additional locations is in your DNA, for some it is not. There is nothing wrong with growing a single location by adding bays and remodeling to keep up with the times. For many you are not done building your current business through culture, values, your marketing efforts, perfecting your processes, improving your systems, growing your leaders, improving quality and growing revenue and profits from your single location. Stay at it!

We have talked a lot about growth and expansion on the podcast. I want to direct you to a great Town Hall Academy titled, ‘First Moves When Opening a New Shop’ (THA 051).  We have also done panels on ‘Acquisition Strategies’ (THA 082) with some very successful multi- shop owners. These are two great webinars to sink your teeth into.

Carm Capriotto
Aftermarket Influencer and Host of Remarkable Results Radio and the Town Hall Academy Podcasts

JASPER^® Race Products Performance Report

Martin Truex, Jr., running a JASPER 4-Speed Transmission, finished second in Sunday's Monster Energy NASCAR Cup Series Folds of Honor QuikTrip 500.  Kevin Harvick was fourth, and Clint Bowyer was fifth.  Drivers using JASPER products took three of the top five finishing positions, and seven of the top ten, at the checkered flag.  Christopher Bell, also running a JASPER 4-Speed Transmission, led 142 of 163 laps en route to winning Saturday's NASCAR Xfinity Series Rinnai 250.  Cole Custer was second, and Brandon Jones was fourth. Drivers using JASPER products took three of the top five finishing positions, and five of the top ten, at the finish.  Both races were held at Atlanta Motor Speedway.

A recap of the results from this weekend's races at Atlanta Motor Speedway follows.

Monster Energy NASCAR Cup Series - Folds of Honor QuikTrip 500 - Atlanta Motor Speedway

2nd     Martin Truex, Jr. #19 (JASPER 4-Speed Transmission)
4th      Kevin Harvick #4 (JASPER 4-Speed Transmission) - Stage 2 Winner
5th      Clint Bowyer #14 (JASPER 4-Speed Transmission)
6th      Kyle Busch #18 (JASPER 4-Speed Transmission)
7th      Erik Jones #20 (JASPER 4-Speed Transmission)
8th      Aric Almirola #10 (JASPER 4-Speed Transmission)
10th    Daniel Suarez #41 (JASPER 4-Speed Transmission)
11th    Denny Hamlin #11 (JASPER 4-Speed Transmission)
16th    David Ragan #38 (JASPER 4-Speed Transmission)
25th    Ty Dillon #13 (JASPER 4-Speed Transmission)
26th    Matt DiBenedetto #95 (JASPER 4-Speed Transmission)
27th    Bubba Wallace #43 (JASPER 4-Speed Transmission)
29th    Corey Lajoie #32 (JASPER 4-Speed Transmission)
30th    Parker Kligerman #96 (JASPER 4-Speed Transmission)
31st    Ross Chastain #15 (JASPER 4-Speed Transmission)
32nd   BJ McLeod #52 (JASPER 4-Speed Transmission)
33rd    Cody Ware #51 (JASPER 4-Speed Transmission)

Monster Energy NASCAR Cup Series 2019 Points Standings

1st      Denny Hamlin #11 (JASPER 4-Speed Transmission)
2nd     Kevin Harvick #4 (JASPER 4-Speed Transmission)
3rd      Kyle Busch #18 (JASPER 4-Speed Transmission)
7th      Erik Jones #20 (JASPER 4-Speed Transmission)
9th      Clint Bowyer #14 (JASPER 4-Speed Transmission)
11th    Aric Almirola #10 (JASPER 4-Speed Transmission)
12th    Martin Truex, Jr. #19 (JASPER 4-Speed Transmission)
19th    Ty Dillon #13 (JASPER 4-Speed Transmission)
20th    Daniel Suarez #41 (JASPER 4-Speed Transmission)
26th    Matt DiBenedetto #95 (JASPER 4-Speed Transmission)
27th    David Ragan #38 (JASPER 4-Speed Transmission)
28th    Corey Lajoie #32 (JASPER 4-Speed Transmission)
32nd   Bubba Wallace #43 (JASPER 4-Speed Transmission)
34th    Cody Ware #51 (JASPER 4-Speed Transmission)

NASCAR Xfinity Series - Rinnai 250 - Atlanta Motor Speedway

1st      Christopher Bell #20 (JASPER 4-Speed Transmission) - Stage 1 & Stage 2 Winner
2nd     Cole Custer #00 (JASPER 4-Speed Transmission) 
4th      Brandon Jones #19 (JASPER 4-Speed Transmission)
6th      Jeffrey Earnhardt #18 (JASPER 4-Speed Transmission)
8th      Justin Haley #11 (JASPER 4-Speed Transmission)
15th    Chase Briscoe #98 (JASPER 4-Speed Transmission)

Customer Service at the Highest Level

When someone asks you to think of a company in your town known for excellent customer service, most people have a hard time thinking of more than one. Sometimes none. Are you one of them? Can you be?

The process of becoming world class in customer service is a difficult journey and requires much more than an occasional meeting, poster on the wall or slogan. It is a process, not an event. It requires commitment from the CEO that is practiced with every move and decision.

Some organizations rise to temporary success in this area, but soon fall back to mediocrity. Still, most businesses today have a goal of delivering excellent service to their customers and yet their customers could not put them in high esteem.

Very few teams understand that reaching a high level of service requires a change in culture and successful implementation of many processes while creating an outstanding customer experience.

Why is culture necessary in a top service company? We are in an age of technology and commodities along with more competition than ever. Search and reviews have made it so easy to find automotive service and distinguishing yourself from the competition involves every associate providing unparalleled customer service. A huge part of the building blocks of superior customer service is the trust factor. Is your customer at ease? Do they feel safe when doing business with you? Do they feel that they have a relationship? Is their experience with your company like no other automotive service experience they have ever had? Keep in mind that bad customer service experiences will hurt you and your brand. You heard the saying that customers love to tell friends and family about their bad experiences. On average an unhappy customer will tell at least nine people about their bad experience and the secondhand conversations can also be damaging to your reputation. You cannot afford even one bad review.

The process of creating, managing and maintaining a culture of service is hard work. It starts with the buy-in of your entire team. Be sure they are involved in the creation of your ‘creed’ and the processes it will take in making it the foundation of your business. Do this and your team will notice the change in your customer. You will hear ‘how great it is to do business with your company’ and new customers will find you because they will seek out what you offer through word of mouth and five-star reviews. Customers will value how they are treated and the positive experiences you have created for them and they will hopefully reward you with their business.

So now, let’s talk culture for a minute. Culture is the combination of behaviors, actions and attitudes that define an organization. Having an overarching culture is the foundation to creating a five-star customer experience. What behaviors can you look at and use that define your culture? Do you or your associates spring into action when a customer walks in your door or when they call?  What attitudes characterize the way you think about servicing your customers? Do you show respect to your customers? Are you helping each other improve?

The greatest service companies (and you will be one of them) are known for consistently delivering excellent service. They have invested a lot of time and resources to ensure each associate does not have to be reminded of the standard of service they provide every day. It becomes second nature! They know what to do every day in different circumstances and do it without their supervisors watching. They make strong customer centered decisions that exceed expectations. But it only happens if the culture of the company has exceptional customer service as one of its foundations.

As a side thought regarding your culture, here is another very powerful adage: Take care of your people and they will take care of your customers or “If you make a big deal out of little things, then the little things won’t become a big deal” David Dennis. Leaders must have passion for details, but our associates at every level in our organization must see the value in doing even the smallest task with excellence. Great organizations are built on the shoulders of associates who do their assigned tasks with precision and passion. Each person can positively or negatively impact a customers experience by the way he or she smiles, greets, speaks, looks and listens.

Plan on 2019 being “the year of the customer”. Set a goal of 50 five-star reviews in the next six months. You may already be there, but keep putting in the work to keep that level going. If you are not there yet, pull the team together. Talk to you customers. Catch them in your waiting room or call them, ask about their service experience and evaluate every transaction. What could have been done better? Exceptional customers service cannot be transmitted via telepathic waves. You cannot wish it. Stop hoping, or even wishing, that your team delivers exceptional customer service. Define it and set accountability to it one customer experience at a time.

 

Carm Capriotto, AAP
716-523-4915
Connecting people that care about building a stronger aftermarket.
www.remarkableresults.biz
Town Hall Academy LIVE every Friday at 12 Noon EST
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