December 16, 2023

From Zero to Hero: How did Bret Turn His Struggling Family Business Around? [AW 188]

28 minutes

"40 plus years in business and we had zero money in the bank."

Bret shares his journey from struggling to successful business owner, emphasizing the importance of seeking outside help and continuous learning. He discusses the transformation of his business into a profitable venture with the help of a coaching company and the implementation of key profit indicators. Brett also highlights the significance of team training and understanding generational differences in the workplace.

Bret Fadely, Fadely's Auto Masters & Tires, York, PA.

Show Notes:

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The rule of holes (00:03:00) Bret discusses the rule of holes and knowing when to stop digging.

Struggling to save the business (00:03:29) Bret talks about the challenges his family's business faced after his mom passed away and left zero money in the bank.

Turning the business around (00:06:08) Bret shares his resolve to turn the business around, pay off debts, and seek outside help through coaching to achieve profitability.

Learning to run a business (00:12:04) The importance of getting outside help to learn how to run a business.

The importance of team building through training events (00:16:48) Discussing the investment and decision to take the whole team to major training events for team building and a happier work environment.

Understanding and adapting to the younger generation (00:17:52) Sharing the experience of attending a seminar with Sara Fraser on getting to know Gen Z and millennials and the importance of adapting to their work style and slang.

The need to attract and encourage younger people in the automotive industry (00:20:28) Highlighting the importance of changing and adapting the industry to attract the next generation and addressing the tech shortage.

Thanks to our Partner, Dorman Training. Training technicians today for the challenges of tomorrow! https://www.dormantraininglive.com/

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By Carm Capriotto, AAP

4.9

6969 ratings