Creating a Culture of Accountability for Internal Succession [RR 983]
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About this episode
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network This episode centers on John Gustafson's journey managing his automotive repair business, focusing on internal succession planning and implementing the Entrepreneurial Operating System (EOS). John shares his experience developing an internal succession plan, emphasizing the importance of nurturing leadership within his team. He explains how EOS has enhanced meeting structures, accountability, and strategic vision, fostering a motivated workforce. John Gustafson, Gustafson Brothers, Huntington Beach, CA. John’s previous episodes HERE Show Notes Watch Full Video Episode Succession Planning Discussion (00:02:30) John shares his challenges with succession planning, emphasizing internal leadership development. Implementing EOS (00:03:20) John discusses how he started implementing the Entrepreneurial Operating System (EOS) in his business. Team Involvement in EOS (00:04:20) John explains how he engaged his team in the EOS process and its benefits. Vision and Leadership Transition (00:05:15) John outlines the importance of leadership transition in their three and ten-year plans. Weekly Meetings and Accountability (00:06:47) Discussion on the structure of weekly meetings and the accountability fostered through EOS. Shop Scale and Success (00:08:04) John shares his shop's sales goals and emphasizes that size doesn't determine success. EOS and Business Discipline (00:08:57) John highlights how EOS has helped instill discipline in their operations. Opportunities in Issues (00:11:13) John elaborates on how issues are viewed as opportunities for improvement in their meetings. Engaging Team Ideas (00:12:21) Carm and John discuss the importance of team input in generating new ideas. Profitability vs. Sales Goals (00:12:47) John emphasizes the significance of profitability over merely hitting sales targets. Structured Meeting Agendas (00:13:12) John describes the tight agenda structure for their meetings to ensure efficiency. Remote Meeting Dynamics (00:14:44) Discussion on how John conducts meetings remotely while managing from different locations. Starting EOS Implementation (00:14:57) John advises listeners on how to begin implementing EOS in their businesses. Leadership Recognition and Ownership (00:15:11) John shares examples of leaders stepping up to embrace ownership opportunities. Bonus Structure Discussion (00:16:01) John explains the current bonus structure and its relation to future ownership. Future Ownership Plans (00:17:12) John discusses potential plans for selling the company to the next generation. Profit Distribution Strategy (00:18:29) John outlines how profits are reinvested into employees rather than external spending. Selling the Company on Credit (00:21:55) John discusses his plan to sell the company to his team on credit. Team Accountability and Profitability (00:22:12) The importance of team accountability for ongoing profitability is highlighted. Difficult Decisions in Structuring (00:22:31) John reflects on the challenges of formulating his business structure over the years. Undercover Boss Experience (00:22:49) John shares his experiences driving the courtesy shuttle and engaging with customers. Customer Feedback and Interaction (00:23:35) John explains how he interacts with customers to gather feedback on their experience. Intro to Auto Boot Camp (00:24:25) The summer program for young people to learn automotive skills is introduced. Engaging Young People in Auto Training (00:26:11) Details about the boot camp's curriculum and hands-on learning experiences are shared. Importance of Skilled Trades (00:26:57) Discussion on the need to expose young people to skilled trades and automotive careers. Social Media for Recruitment (00:29:02) John explains how social media helps attract young participants to the boot camp. High School Shop Collaboration (00:30:12) The partnership with local high schools for automotive training is discussed. Future Industrial Arts Complex (00:31:09) Plans for a new facility to expand training opportunities for various trades are shared. Entrepreneurial Mindset (00:33:22) John reflects on the entrepreneurial mindset and the drive for continuous improvement. Coaching and Business Growth (00:34:21) The role of coaching in expanding business potential and overcoming limitations is emphasized. Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com Connect with the Podcast: -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on X: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -Special episode collections: https://remarkableresults.biz/collections <a...