Amazing Women in Automotive [RR 681]

Tiffany Sherado, Lifetime Transmissions, Broken Arrow, OK, AWIA Coordinator. Tiffany's favorite part of working in the auto industry is working with the high schools and tech colleges in developing programs to assist with the tech shortage and networking and sharing knowledge and experiences with other passionate people in the industry. She looks forward to watching the family transmission business and her personal accomplishments flourish. Tiffany's main objective as leader of Amazing Women in Automotive is to support the automotive industry. She is doing this by helping to provide resources and support for women currently in the industry and increase the number of females entering the field and ensuring we retain them. Find Tiffany's previous episodes https://remarkableresults.biz/?s=%22tiffany+scherado%22 (HERE) Maylan Newton from ESI – Educational Seminars Institute is a business coach, trainer and industry speaker. Maylan is no stranger to the podcast having paid it forward many times. He is a much sought our speaker at industry events in the US. Maylan’s purpose is to educate leaders to be a better owner or service writer. Find Maylan’s previous episodes https://remarkableresults.biz/?s=Maylan+Newton (HERE). Key Talking Points Virtual bookkeeping- software is accessed virtually, receipt management via email/scanner/text CPA/Business Coach/Bookkeeper- “Where the magic happens.” The bookkeeper gets financial reports ready and organized to pass along to the CPA and has communication with the business owner and coach on weekly/monthly reports. Are there variables that are affecting your bottom line? Is it your culture? Is it an employee? Know the breakeven point- know how much money you need to generate to pay the expenses. Two types of expenses – fixed and variable. Fixed expenses - constant every month like rent and mortgage. Variable – vary from month to month but are usually fairly predictable, parts cost, labor cost. Know all the expenses, including what to pay the owner.