PART I: The Entrepreneurial Perspective.
If you are reading this article, you are most likely a diesel repair shop owner, a manager, or a diesel repair technician looking to expand your knowledge or start your own business. Whatever the case may be, you should know that the key to running a successful diesel repair shop is to constantly improve and innovate your operating systems to ensure sustainable growth and business longevity.
Who, or what is an entrepreneur? Dictionary.com defines an entrepreneur as; “a person who organizes and manages any enterprise, usually with considerable initiative and risk.”
A person who organizes or manages an enterprise with considerable risk to themselves or to their assets is a special type of person who is willing to step out of their comfort zone and put forth the effort to start or improve a business without the certainty that they will make a profit. They are typically driven people. They know what they want and have a pretty solid idea of how to get there.
Some people are entrepreneurs because they love to start something new, or to be the first to start something. Others see a need and want to be the one to fill that need. Most of all though, they create a business because they want to take advantage of our free enterprise system - to invest their money into an idea and make it come to life. There are not too many places where a drive to fill a demand and pulling together the resources to do it can become an opportunity to better oneself and their community.
These are all good examples of how most diesel repair shops got started. Many diesel repair shop owners started out as repair technicians at an early age. As they progressed in their careers, they discovered that they had the technical skills and knowledge to start their own business. Sound familiar?
In most cases, these owners ran their businesses by implementing the same systems and processes they learned at other repair shops. The problem with this is that not all repair shops are created equal. There are many variables that determine the success or failure of a diesel repair shop business. What works for one, may not work for another. In fact, 80% of all diesel repair shops fail due to a lack of adequate and efficient systems.
The key to sustainable growth and business longevity is to adopt an Entrepreneurial Approach to running your diesel repair shop, which makes changes as circumstances change, so your products and services remain in high demand. Most frustrations, failures, and negative variances that diesel repair shops experience are caused by rapid change in technology, extreme competition, lack of new and better systems, lack of diversification, and inadequate training.
The entrepreneur innovates systems so every employee knows how to change, which reduces risk and grows revenues through good times and bad. You can’t do today’s job with yesterday’s systems, and be in business tomorrow. Innovative and systemic changes are required to succeed, especially in these difficult economic times.
In this three-part, weekly blog series; “The Entrepreneurial Approach to Running a Diesel Repair Shop”, we will share more information on how you can adopt an Entrepreneurial Approach to make your diesel repair shop more successful.
Please read Part II of this blog series; “Setting Strategic and Tactical Goals for Success.”