Your Business Your Life Your Business Your Life

Have you ever considered how the dynamics between spouses can influence the success of a family business? 

Whether directly involved or not, understanding each spouse’s impact on the business is crucial for harmony and prosperity.

In this episode, Matt DiFrancesco discusses the critical role of spousal involvement in business planning and transition. He also shares personal stories from his consulting experience, highlighting the benefits and challenges of aligning spouses in life and business.

Matt also talks about:

(01:20) How inclusive discussions can help resolve conflicts in family businesses 

(03:15) The impact of business decisions on personal life

(04:21) How involving the spouse in business planning creates more unity in the family

(05:05) The importance of aligning spouses with their personal vision

(06:53) The benefits of external mediation in family businesses

Connect With Matt DiFrancesco:

matt@highliftfin.com

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial 

Instagram: @high_lift_financial

Youtube: @highliftfinancial

DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial is a Pennsylvania-registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration.  The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

One of the main marketing goals for businesses is to generate revenue by attracting customers and establishing a competitive advantage. Both of these are vital elements for collision repair businesses to succeed.

Yet, for many collision repair shop owners, marketing often takes a backseat, seen more as an expense than a strategic investment. According to the 2021 BodyShop Business Industry Profile, more than half (55%) of collision repair shops spend less than $5,000 on marketing each year. 

So the question remains: is marketing merely a cost to be minimized, or could it be the key to driving growth, profitability, and enhancing the value of your collision repair business?  

Join Matt DiFrancesco and Micki Woods, an Auto Collision Industry Marketing Specialist and podcast Host, as they discuss the value of marketing and what it can do for your collision repair business when done properly.

Matt and Micki talk about:

(06:43) Why marketing is like building rapport with your customers

(09:02) The lowest-hanging fruit for shop owners to try when it comes to marketing

(14:16) How much money should collision shops spend on marketing?

(21:55) The value of having an outside perspective

(24:25) What can shop owners do to get out of the “marketing is just an expense” mindset?

(27:03) How marketing helps shops build the value of their business

(28:32) The best time to start a marketing strategy for your collision shop

Connect With Micki Woods

Website: https://mickiwoods.com/

LinkedIn: https://www.linkedin.com/in/micki-woods-36374121/

Facebook: https://www.facebook.com/MickiWoodsMarketing/

Spotify: https://open.spotify.com/show/6pdC9gvLPFdrQNof4LtwlA?si=Mdpd1QTZR0ypq4Ju4jkKwg&nd=1&dlsi=2c38fcc8b1504cc8

Youtube: @mickiwoodsmarketing7984

Email: micki@mickiwoods.com

Phone: 805.857.6310

Connect With Matt DiFrancesco:

matt@highliftfin.com

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial 

Instagram: @high_lift_financial

Youtube: @highliftfinancial

About the Guest:

Mickey Woods is an experienced marketing and growth strategy specialist with a focus on the collision industry. Having previously owned a shop herself, Mickey understands the challenges that shop owners encounter. Leveraging her extensive experience, she is dedicated to helping them accelerate their business growth. 

Mickey is known for her dynamic marketing approach, consistently driving results through innovative strategies tailored to the collision repair sector.

In addition to her consultancy work, Mickey co-hosts the Collision Cocktail Hour, a monthly gathering that attracts 35 to 60 shop owners seeking insights into different issues concerning the collision industry, such as business expansion and value building. 

She is also the host of the Body Bangin’ Podcast, where she shares her expertise and engages with industry leaders to inspire innovation and success. As a respected writer and contributor to Body Shop Business, Mickey continues to make significant contributions to the collision repair community through her thought leadership and unwavering commitment to excellence.

Disclaimer:

DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Building value for your collision repair business requires more than acquiring state-of-the-art equipment and cutting-edge technology. 



A dedicated and skilled team of employees is one of the key elements that can set your collision shop apart.  And to thrive in the future, shop owners must focus on retaining these valuable team members.



Also, there are personal considerations that every shop owner must consider when it comes to building value in their shop, such as having a business continuity plan.

Fortunately, there are various financial vehicles available that you can use to help achieve these goals and enhance the overall value of your business.



In this episode, Matt DiFrancesco discusses the different aspects of building a shop’s value, such as employee retention and personal considerations, and explores how various financial vehicles can help shop owners boost the value of their business and steer it toward long-term success.



Matt also talks about:

(01:42) The importance of competitive compensation

(02:59) Why most shops don’t have retirement plans for their employees

(03:32) Simple IRA vs. 401K

(03:53) The benefits of having a profit-sharing plan

(04:21) Why shop owners need to identify key employees who are vital to the business 

(06:44) What is a business continuity plan?



Connect With Matt DiFrancesco:

matt@highliftfin.com

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial 

Instagram: @high_lift_financial

Youtube: @highliftfinancial

DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Pennsylvania-registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration.  Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Ever experienced the frustration of putting in your best efforts only to feel like your collision repair business is falling short of its full potential? 



Oftentimes, collision shop owners are unaware of various aspects that hinder their growth, resulting in missed opportunities for both themselves and their stakeholders – employees and customers alike.



Join Matt Di Francesco and Holly Jean Jackson, Revenue and Peak Performance Consultant, as they discuss the strategies that collision shop owners often miss, addressing the pain points that might be holding their business back. 



Matt and Holly talk about:

(01:46) How Holly became a consultant for business owners

(04:17) What areas do business owners typically miss when increasing their revenue and performance? 

(06:03) Why collision shop businesses must have a CRM

(09:13) Why business owners must keep their referral strategy on top of mind

(14:22) Why collision shop owners should keep a good relationship with insurance adjusters

(16:41) How to create an environment that attracts and retains talents

(22:36) The benefits of having amazing employees

(23:15) The one thing shop owners must do to improve their business



Connect With Holly Jean Jackson

Website: https://hollyjeanjackson.com/

LinkedIn: https://www.linkedin.com/in/hollyjjackson/

Facebook: https://web.facebook.com/hollyjeanjackson/?_rdc=1&_rdr

Instagram: https://www.instagram.com/coachhollyjeanjackson/

Youtube: @hollyjeanjacksonllc1680

Email: info@@hollyjeanjackson.com



Connect With Matt DiFrancesco:

matt@highliftfin.com

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial 

Instagram: @high_lift_financial

Youtube: @highliftfinancial



About the Guest:

Holly Jean Jackson, a Revenue and Performance Consultant, Speaker, Podcast Host, and Author, is the visionary founder of Business Builder Throw Down. With a diverse career spanning technology, communications, organizational change, public relations, and content strategy, Holly brings over 12 years of experience revitalizing business leaders physically, mentally, and emotionally. Her influence extends beyond the professional realm, as she led a Local to Global Policy Initiative shaping the impact of future leaders on communities.

In addition to her professional achievements, Holly is a first-chair clarinetist at Carnegie Hall and holds a Black belt in karate. Holly advocates for a holistic and logistical approach through her Peak Performance Blueprint, recognizing how personal and business success is interconnected.



Entrepreneurs seek Holly's expertise to master the art and science of real success, recognizing the common challenges of lacking direction, action, and results. Specializing in crafting business roadmaps, Holly ensures impactful visibility, intentional profitability, and sustained success. She emphasizes the transformative power of action, guiding entrepreneurs towards meaningful shifts in their pursuit of success.



Disclaimer:

DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Pennsylvania-Registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration.  Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

To have a seamless business transition, business owners must understand the intricacies of building value and strategic preparation in the business.



However, one critical area that most business owners often overlook is developing a personal vision for life outside the business.



A statistic from the Exit Planning Institute revealed that 76% of business owners regret selling their business a year after the sale. This statistic highlights the importance of envisioning a meaningful life after exiting the business.



In this episode, Matt DiFrancesco discusses why developing a personal vision is crucial and provides practical tips to help business owners craft a meaningful and purposeful one.



Matt talks about:

(01:49) How to develop a personal vision statement

(08:12) What is a personal vision balance sheet

(09:13) The importance of evaluating your end goal

(10:02) Why you must physically write what your vision is

(11:11) One of the biggest things that we take for granted in life





Connect With Matt DiFrancesco:

matt@highliftfin.com

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial

Instagram: @high_lift_financial

Youtube: @highliftfinancial





DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Pennsylvania-Registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

As we enter the new year, businesses need to reflect on past achievements and plan strategically for the future. And as shop owners embark on their journey, one crucial element they must consider is having a sound transition plan. 



A significant challenge most shop owners face is balancing the demands of running their business. They get so busy with day-to-day operations that planning on how to leave the company someday often takes the back seat.



When the time comes when they finally want to exit the business, they find themselves rushing to make decisions, making it difficult and costly to execute a proper transition plan.



In this episode, Matt DiFrancesco explores key considerations and actions that can position collision shop owners for success in 2024 and beyond - even if they’re not planning an exit soon.



Matt talks about:

(01:15) One of the bug challenges shop owners face today

(03:05) Why every move you make as a shop owner should have your transition in mind

(03:40) The importance of having a comprehensive business continuity plan

(06:19) The significance of adequate estate planning

(07:27) What shop owners need to consider when it comes to their key employees

(08:24) Why collision shops must adapt to market change

(08:32) Why it’s important to start transition planning now



Connect With Matt DiFrancesco:

matt@highliftfin.com

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial 

Instagram: @high_lift_financial

Youtube: @highliftfinancial



Disclaimer: The content posted here is not a substitute for tax or legal advice or professional investment. DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Registered Investment Advisor in the State of Pennsylvania.