Navigating Profit Distribution and Managing Employee Performance in the Automotive Industry With Lalo Castro
In this episode, Lalo Castro returns to shed some light on some crucial aspects of team management. He shares his team's unique arrangement, where the net profits are divided equally among all members. Lalo explores the potential challenges that could arise if the team had more experienced members and highlights the importance of recognizing and managing employees who may negatively impact team morale.
He also delves into the crucial roles of a service advisor and an estimator, emphasizing the need for effective communication between clients, advisors, and technicians. Finally, Lalo discusses the financial side of running a business, sharing his experiences with providing bonuses to his employees and the potential trade-offs that come with it.
00:05:05 Finding answers, but no vehicle or parts.
00:08:13 Practice, self-improvement, and unrealistic expectations at training.
00:14:39 July went well, money was given as a bonus.
00:18:27 Fair, fault, team bonus, roles, group effort
00:22:09 Importance of feedback and decision-making for bonuses.
00:28:44 "Raise your rate, improve service, increase income."
00:33:55 Divide counter sales, prioritize, and advise.
00:41:13 Divorce, advisor, price, answers, biased, warranty, empathy.
00:44:29 Similarities between two things, division, bundling, price. Growth, ideas, training, seminars, and hearing others' experiences.
00:51:55 Ensure clear work orders for technicians and limit communication.
00:58:34 Marketplace protocol: Assist without disrupting current tasks.
01:04:32 Smooth schedule, work gets done calmly.
01:08:56 $200 Volvo XC 90, needs engine, salvage yard.
01:12:20 Long bed ad: engine knocks, $1,000.
01:18:58 Confusing ad for Chevy long bed truck.
01:21:58 Lalo is excited for ASTE
