Your Business Your Life: Recent Episodes
Your Business Your Life
Welcome to Your Business, Your Life with Matt DiFrancesco, your personal financial quarterback. Business owners needs are a bit different; aligning your business and family are critical to your success – We help with your unique challenges so you reach your financial goals. Your business – your life, it’s our priority at Di Francesco Virtual Family Office. Let’s get started
The collision repair industry is transforming—advanced technology, connected cars, and electric vehicles are redefining what it means to “fix it right.” But as the industry evolves, raising repair standards and collaboration remain essential.
In this episode, Matt DiFrancesco talks with Frank Phillips, a 35-year industry veteran with experience at Caliber, Rivian, and ADAS, about how shop owners can adapt and lead through change. Frank shares insights on professional development, specialization, and the growing need for education—both for technicians and consumers.
He also discusses the critical role of industry associations and legislative advocacy in shaping the future, ensuring that repair quality, safety, and professionalism continue to move the entire industry forward.
Matt and Frank also talk about:
(03:18) Why shop owners can’t afford to coast anymore
(03:42) How diverse experience sharpens perspective in a changing industry
(08:47) How professionalism replaced the “hobby shop” mindset
(09:15) Why knowing what you don’t know drives growth
(09:56) The shift toward specialization, EVs, and certification
(12:05) Why there’s no such thing as a simple fender bender anymore
(12:29) How shop owners can get paid for proper repairs
(14:10) Why educating consumers builds empathy and trust
(19:39) How pre-framing the customer prevents conflict later
(20:35) Why associations must lead consumer education
(23:42) Why a united industry voice builds credibility and consistency
(27:31) How collaboration among repairers, insurers, and OEMs protects consumers
(28:38) Why slowing down early saves time and money later
(30:48) How doing repairs the right way leaves the industry stronger
Connect With Frank Phillips
LinkedIn: https://www.linkedin.com/in/frank-phillips-17b33341/
Email: frank.phillips72@gmail.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:
With over 35 years in the Automotive Collision industry, Frank Phillips has built a career rooted in gratitude, service, and leadership. Deeply thankful for the opportunities this industry has provided to him and his family, he remains committed to honoring the legacy of the icons who paved the way before him.
Today, Frank focuses on giving back—mentoring others, sharing hard-earned insights, and encouraging the next generation of collision repair professionals to continue raising the standard and strengthening the reputation of the trade. Passionate about collaboration and progress, he believes the industry thrives when its members support one another, ensuring transportation—the backbone of modern life—continues to move the world forward.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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 strategies discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Most shop owners have a CPA, an attorney, and maybe a financial advisor—but without a conductor, progress stalls. That’s why you need someone to act as the conductor, bringing all the pieces together.
In this episode, Matt Di Francesco shares how the right advisor can quarterback the process, providing emotional guidance, holistic oversight, strategic vision, and accountability—so you avoid costly mistakes and move forward with clarity.
Matt also talks about:
(02:07) Why your financial life needs a conductor
(03:20) Four reasons to hire an advisor
(04:20) How personal vision acts as your GPS for life and business
(06:15) Why holistic oversight keeps your plan working together
(10:02) How accountability helps you overcome procrastination and blind spots
(13:25) How a certified exit planner helps you navigate tax and legal complexities
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:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
The collision industry has evolved from handwritten estimates to automation, but one thing remains constant—people.
In this episode, Matt DiFrancesco talks with John Stuef, a 40-year industry veteran, about what decades in business taught him about leadership, human behavior, and motivation. John shares how neurochemistry shapes culture, why balance and health matter, and how lessons from dog training apply to leading teams.
He also offers practical advice for shop owners on succession planning, valuing their business, and finding purpose beyond the shop.
Matt and John also talk about:
(02:16) How the book From Doing to Leading came about
(04:40) Why technical skill isn’t enough
(06:03) Can leadership really be learned?
(06:32) How recognition triggers chemistry that builds culture
(07:52) Why fear shuts people down—and how leaders can unlock growth
(11:47) Choosing response over reaction: reframing daily challenges
(14:40) The connection between physical health and stronger leadership
(20:16) The blind spots that cost shop owners value
(23:16) Why succession planning starts on day one
(25:18) The “rule of threes” and why purpose drives new ventures
Connect With John Stuef
LinkedIn: https://www.linkedin.com/in/john-stuef-b8a84a47/
Check out John’s book: From Doing to Leading: Your Guide for Inspiring People on the Front Lines
https://a.co/d/gmOfzCx
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:
John Stuef is a 40-year veteran of the collision repair industry and a seasoned entrepreneur. After building and successfully exiting a multi-shop operation, he went on to hold leadership roles with Caliber and AutoNation before branching into new ventures. Today, John has diversified his career into health and fitness, product development, and dog training through his business, The Dog Captain.
He is also the author of From Doing to Leading, a book that explores leadership through the lens of neurochemistry and human behavior. A strong advocate for holistic well-being, John emphasizes the importance of health, balance, and purpose alongside financial success. His unique blend of industry expertise, leadership insights, and personal development journey offers powerful lessons for business owners preparing for their next chapter.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Going to industry conferences can be one of the most valuable investments you make in your shop’s future. Stepping away during the busy season might feel impossible, but the connections, insights, and strategies you gain at these events often pay dividends long after you return home.
In this episode, Matt Di Francesco breaks down why events like these are worth your time. He shares the five key benefits of attending—from discovering new technology and legislative updates to networking with peers, empowering your technicians, and even inspiring the next generation of your family to take part in the business.
Matt also talks about:
(01:56) How conferences help you work on the business
(04:13) How after-hours networking drives breakthroughs
(05:15) Why bringing techs to conferences expands team knowledge
(06:04) How shared insights boost innovation
(06:43) Why investing in people builds pride and productivity
(07:52) How conferences can inspire the next generation
Upcoming conferences:
The Texas Auto Body Trade Show
September 12-13, 2025
https://www.abat.us/trade-show/
Music City Collision Conference
September 26-27, 2025
https://mytcra.com/music-city-collision-conference/
SEMA Show 2025
November 4-7, 2025
https://www.semashow.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
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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 strategies discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Most shop owners spend years building their business—but when it’s time to exit, many are caught off guard by the emotional toll of letting go. In fact, 75% of owners regret their decision within a year, often due to a loss of identity and a lack of purpose after the exit.
In this episode, Matt Di Francesco explores the emotional challenges of transitioning out of your shop. He shares real stories of owners who struggled with their identity after exiting, and how tools like personal vision statements, family conversations, and peer support networks can ease the process.
Matt also talks about:
(01:55) Why 75% of business owners regret selling within a year
(03:33) Why your post-shop life should be the starting point of any exit plan
(04:24) How a personal vision statement helped one owner rethink his exit
(05:35) Why family involvement can shift the future of your business
(07:14) How financial planning helped one owner balance fairness and legacy
(08:16) Why emotional support is the most overlooked part of succession planning
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:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
echnicians are the heartbeat of the collision repair industry, but they’re often underserved when it comes to education, support, and long-term growth. As the demand for skilled labor rises, the need to invest in technician development has never been more urgent.
In this episode, Matt Di Francesco talks with Jason Bartanen, founder of Collision ProAssist and veteran technical educator, about his mission to better support technicians through virtual training, live coaching, and real-time guidance. He shares his vision for a more connected, empowered technician community, and how the industry can step up to support its most vital workforce.
Matt and Jason also talk about:
(02:09) What inspired the launch of Collision ProAssist
(03:36) Why technicians remain the most underserved in the industry
(04:53) How technician training must be tailored to the tools and the car
(07:35) What happens when techs don’t get trained on new equipment
(08:07) Inside the Back Bay program and its community approach
(10:57) Why direct access to tool and product experts matters
(14:37) Why better tech support leads to stronger ROI for the shops
(15.56) The biggest gaps in financial literacy among techs
(24:53) Why a supportive future is key to attracting new techs
(27:52) Why now is the best time to own an independent shop
Connect With Jason Bartanen
Website: https://www.collisionproassist.com/
Email: jason@collisionproassist.com
LinkedIn: https://www.linkedin.com/in/jason-b-bartanen-03519935/
Sign up for Back Bay Free 7-Day Trial (No credit card required)
https://whop.com/collisionproassist/
https://whop.com/backbaytrial/
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:
Jason Bartanen is a respected leader in the collision repair industry, with over two decades of experience dedicated to technical education and innovation. Growing up in his family’s body shop, Jason developed a passion for the field early on, which led to a 23-year tenure at I-CAR, where he made significant contributions in technical writing, curriculum development, and building relationships with OEMs.
Today, as the founder of Collision Pro Assist, Jason is focused on empowering technicians through virtual training, live coaching, and his innovative Back Bay subscription model—designed to help shops navigate and apply OEM repair procedures with confidence. His mission is centered on delivering accurate, vetted information to the next generation of collision professionals.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Collision shop owners exploring succession planning are hearing more about ESOPs—and for good reason. These employee stock ownership plans offer a unique way to create liquidity while keeping the business intact and rewarding the team that helped build it.
In this episode, Matt Di Francesco sits down with Steven Golden, ESOP expert and managing director at CSG Partners, to break down what makes these plans so powerful. From Section 1042 tax rollovers to retaining a role in the business post-sale, Steven shares how ESOPs can support a smooth exit and a lasting legacy.
Matt and Steven also talk about:
(02:09) The core benefits of ESOPs and Section 1042
(03:30) Why a C-Corporation structure is essential for ESOPs
(05:16) How the ESOP trust and trustee work in the sale process
(07:51) Where does the ESOP get its money to buy shares
(11:25) The financial complexities and costs of setting up an ESOP
(14:55) Are smaller collision shops eligible for ESOPs too?
(21:19) Why ESOPs are a win-win for owners and employees
(22:35) How employee shares grow and get paid out in retirement
(24:53) Addressing ESOP misconceptions and early advice for shop owners
Connect With Steven Golden
Website: https://www.csgpartners.com/
Phone: 516-680-8276
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:
Steven Golden brings decades of experience in accounting, tax strategy, and employee ownership planning to his role on the investment banking team at CSG Partners. A longtime advisor on CSG-led transactions, Steven now works directly with middle-market companies to implement and optimize ESOP (Employee Stock Ownership Plan) strategies.
Before joining CSG in 2022, Steven spent over 25 years at CBIZ MHM, where he served as Managing Director and held various leadership positions. There, he built a national reputation working with high-net-worth individuals, closely held businesses, and public companies specializing in insolvency, estate planning, and ESOP design. He’s also served as a trusted expert witness and tax consultant for law firms nationwide.
Originally from Buffalo, New York, he has spent much of his professional life in Southern California and now resides in Las Vegas. He is a member of the American Institute of CPAs and remains a respected voice in the ESOP and accounting communities.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Internal transfer of a business might seem like the ideal way to keep your legacy alive—but without a clear plan and the right guidance, things often fall apart.
In this episode, Matt DiFrancesco explores one of the most overlooked — and often misunderstood — succession strategies: the internal transfer. Whether to family members or key employees, transferring your shop internally presents unique challenges. But with the right planning, it also offers the opportunity to preserve your legacy, take care of your people, and avoid the emotional and financial pitfalls that come with selling to a third party.
Join Matt as he shares real stories, generational insights, and practical frameworks to help you decide whether an internal transfer is right for you — and how to execute it well.
Matt also talks about:
(01:09) Why selling to a third party may not be your best option
(03:07) The value of generational businesses
(04:08) Why the next generation doesn’t want what you had
(06:26) Redefining ownership to attract leaders
(08:09) How to balance family dynamics in an internal transfer scenario
(09.08) How to choose the right successor without creating resentment
(10:26) Why working with a certified exit planner can make all the difference
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:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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 strategies discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Repair shop owners today face a new kind of complexity: how to keep up with rapidly advancing vehicle technology without falling behind in training, tools, or talent.
As modern vehicles become “computers on wheels,” the pressure to repair them properly is growing. Systems like ADAS and interconnected sensors demand up-to-date knowledge and precise calibration—raising the stakes for every technician in the bay.
Join Matt Di Francesco and Pam Oakes, SME Auto technical app engineering consultant $ business intelligence, as they explore what it takes to stay ahead in a high-tech repair world—and why elevating the industry's image starts with investing in continuous learning.
Matt and Pam also talk about:
(02:23) The risks body shops face when repair protocols aren’t followed
(03:05) Why body shops should commit to training
(05:24) The worst thing that a technician can ever experience
(07:58) Why ASE Certification matters more than a recommendation
(14:44) Why we won’t see a fully autonomous car in the next 5 years
(23:34) Why today’s technicians are comparable to rocket scientists
(24:12) How younger technicians bring fresh ideas to the shop
(25:10) How can independent shops thrive in the future
(27:46) An important reminder when searching for training online
Connect With Pam Oakes
LinkedIn: https://www.linkedin.com/in/pamoakesase-eet/
Website: https://www.autoINENG.io
Email: autoINENG@gmail.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:
Pam Oakes is a Subject Matter Expert Consultant in Automotive App Engineering and Business Intelligence at autoINENG.io, where she helps drive innovation across the automotive industry.
With decades of hands-on experience, Pam specializes in ADAS and HVAC systems and serves on the National Science Foundation’s NCAT advisory committee as well as the SAE International Task Force.
In addition to her consulting work, Pam is a developer designer at Automotive Aids, where she and her team hold two pending patents for OEM sensors and have created a nationally recognized invention that is now available in major retail outlets like Ace Hardware.
Pam is passionate about equipping the automotive industry with cutting-edge solutions and sharing her expertise to elevate standards and practices across the field.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
DIY exit planning is a path many independent collision shop owners take—especially when they’re looking to sell to key employees or keep the transition “in-house.” But without the right structure and support, these plans often stall out or fall apart entirely, leaving owners frustrated and without the outcome they hoped for.
In this episode, Matt DiFrancesco shares a real-life story of a shop owner who initially engaged with his process to sell the business to key employees—but ultimately decided to go it alone. Matt explains why these do-it-yourself exit plans rarely succeed and what shop owners overlook when they try to navigate the process without professional guidance.
Join Matt as he unpacks why DIY strategies so often lead to disappointment, what a successful transition really takes, and how the right team can help you exit your business on your terms—with confidence and clarity.
Matt also talks about:
(01:22) The dangers of DIY Exit Planning
(02:06) How a lack of expertise can lead to failure
(02:40) How emotional involvement can lead to unrealistic expectations
(04:34) Why a shop’s revenue means nothing to your valuation
(05:47) The importance of understanding your market
(07.04) How shops are leaving money on the table without expert negotiation
(07:56) Why having sufficient succession planning is critical
(08:38) Why you can’t set unrealistic time frames when it comes to exit planning
(10:01) Why it’s crucial to have a clear picture of the life you want post-exit
(12:17) How working with a team that can guide your transition lead to success
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:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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 strategies discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Business owners planning their next chapter often face a tough decision: how to exit without compromising their legacy or selling to private equity.
As baby boomers age out of ownership, many are turning to Employee Stock Ownership Plans (ESOPs) for their unique blend of liquidity, tax benefits, and cultural continuity. Yet, understanding the mechanics and long-term impact of an ESOP can feel overwhelming.
Join Matt Di Francesco and Kelly Finnell, Premier ESOP Consultant and President at EFS ESOP Consultants, as they explore how ESOPs offer business owners a powerful way to exit on their terms—while turning employees into owners and preserving what matters most.
Matt and Kelly also talk about:
(02:30) Why are more business owners turning to ESOPs
(05:45) What is an ESOP?
(06:29) Three key ways ESOPs provide more than just a retirement plan
(07:58) How ESOPs provide a powerful performance incentive
(08:19) Can a 401(k) and an ESOP work together?
(09:33) How are ESOP shares distributed among employees?
(10:56) How ESOP shares are valued
(12:28) Who should be the trustee of your ESOP trust
(19:03) Why 95% of 100% ESOP-owned companies are S-Corps
(22:03) What type of business would be a good candidate for an ESOP?
(26:26) The four key questions addressed during the ESOP feasibility study
() How long does an ESOP feasibility study and implementation take?
Connect With Kelly Finnell
LinkedIn: https://www.linkedin.com/in/esopcoach/
Website: https://execfin.com
Order Kelly’s book - The ESOP Coach here: https://www.amazon.com/ESOP-Coach-Ownership-Succession-Planning/dp/0578046997
Check out these other resources as referenced in this episode:
National Center for Employee Ownership - https://www.nceo.org/
The ESOP Association of America - https://www.esopassociation.org/
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:
Kelly Finnell is widely regarded as the nation’s premier ESOP consultant, with over 40 years of experience helping business owners design and implement Employee Stock Ownership Plans. He has presented at more than 300 conferences across the U.S. and internationally, sharing his deep expertise in ESOP strategy and succession planning.
Kelly is the author of The ESOP Coach: Using ESOPs in Ownership Succession Planning, published in 2010—a definitive guide that continues to be a go-to resource in the field today. He is also an Accredited Investment Fiduciary®, a designation awarded through the Center for Fiduciary Studies at the University of Pittsburgh, demonstrating his commitment to always acting in the best interest of his clients.
A magna cum laude graduate of the University of Memphis, Kelly brings both academic rigor and decades of hands-on experience to every engagement. If you're considering an ESOP for your business, Kelly is truly the guy you want in your corner.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
Planning for life after shop ownership is something many independent collision shop owners overlook—until they’re already in the process of selling. But without a clear vision, the transition can be overwhelming and leave former owners wondering, “What’s next?”
In this episode, Matt DiFrancesco shares insights from the Northeast Conference, where he and Laura Gay led a discussion on preparing for life beyond the shop. They addressed common concerns from shop owners, including burnout, the challenges of third-party sales, and the uncertainty of what comes after stepping away from the business.
Join Matt as he shares key takeaways from the event, explores the questions that resonated most with attendees, and guides shop owners on designing a fulfilling and purposeful post-shop life.
Matt also talks about:
(01:50) Why most shop owners fail to design their post-shop life
(02:25) The importance of having a post-shop vision before you sell
(03:00) The power of planning your exit the right way
(04:09) The first step in planning
(05:06) Life after the sale: What comes next?
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:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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 strategies discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Attracting and retaining talent is a persistent challenge in the collision repair industry, and industry engagement plays a critical role in overcoming this issue.
The struggle to find skilled technicians and support technical education programs leaves many shop owners feeling overwhelmed and unsure of how to bridge the workforce gap. Without a steady pipeline of trained professionals, the industry's future is at risk.
Join Matt Di Francesco and Brandon Eckenrode, Executive Director of the Collision Repair Education Foundation (CREF), as they discuss the power of local industry involvement, offering practical strategies for shop owners to mentor students and secure a sustainable future for the collision repair industry.
Matt and Brandon also talk about:
(01:54) Why is finding talent in the collision repair industry such a challenge?
(03:14) The crucial role of combining iCAR and ASE training with ADAS advancements
(05:21) How can we shift the negative perception of being a “grease monkey”?
(07:06) What initiatives is CREF taking to tackle the talent shortage
(08:47) How CREF recruits students and connects them with shops after graduation
(10:53) How can shop owners engage with local schools to attract talent?
(14:35) Can young hires' fresh ideas create a mutually beneficial learning environment?
(17:35) How can educators, industry leaders, and recruiters collaborate to attract your techs?
(19:07) What’s the best way for a shop owner to get involved in supporting new talent?
Connect With Brandon Eckenrode
LinkedIn: https://www.linkedin.com/in/brandon-eckenrode-9b51107/Email: brandon.eckenrode@i-car.com
Website: https://collisionrepaireducationfoundation.org/
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:
Brandon Eckenrode began his career in 2002 with I-CAR's marketing department before joining CREF in 2009.
Since then, he has been dedicated to supporting collision programs at high schools and colleges across the U.S., helping to train and develop the next generation of technicians.
As Executive Director, Brandon is committed to promoting the collision repair industry as a viable career path and addressing the workforce shortage by attracting new talent.
Under his leadership, CREF is focused on strengthening educational initiatives and ensuring a sustainable future for the industry.
Brandon is a familiar face at industry events and shows, where he actively engages with stakeholders to advance CREF’s mission.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Managing costs and staying profitable is a constant challenge for independent collision shop owners, and education plays a crucial role in overcoming these hurdles.
In this episode, John Shoemaker shares his passion for helping shop owners educate themselves and their customers about the value of their services—ensuring they are properly compensated for their work.
With years of experience in business development. John has helped many shops refine their processes and improve their bottom line. He understands the importance of accurate invoicing, validating costs, proper documentation, and building strong relationships with claims adjusters.
Join Matt DiFrancesco and John Shoemaker, AMAM, Business Development Manager - BASF Automotive Refinishes North America, as they explore the power of education in the collision industry, offering practical advice on how shop owners can stay ahead, maximize efficiency, and confidently communicate their value to customers.
Matt and John also talk about:
(05:38) Why do shop owners struggle with charging through invoices?
(08:52) The two towers in the insurance world
(11:53) Why proper documentation is the key to success
(13:25) Should shop owners invest in sales training for their staff?
(16:27) The benefits of finding your niche
(18:43) Why owners should start educating their customers on what sets their shop apart
(24:17) How to develop better relationships with different claims managers
(28:33) Where can shop owners learn to improve documentation, billing, and repair planning?
(30:29) Why shop owners should invest in personal development
(33:30) What is appraisal burnout?
(35:51) The power of paying it forward in the industry
Connect With John Shoemaker
LinkedIn: https://www.linkedin.com/in/john-shoemaker-amam-a0800020/
Email: john.a.shoemaker@basf.com
Phone: 7574357118 (Mobile)
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:
John Shoemaker is the Business Development Manager for BASF Automotive Refinish Coatings - North America and has been in the automotive repair industry since 1973.
His career began as a helper in a small body shop in California before serving in the U.S. Air Force as a technician, vehicle maintenance manager, accident investigator, technical instructor, and management system analyst.
After returning to the civilian sector, he managed several dealership collision centers, served as a dealership service director, and founded JSE Consulting, where he provided training in damage analysis, marketing, lean implementation, and collision center management.
John has contributed to industry advancements by assisting CCC Information Services in developing the Production Assistant system and working with DuPont Performance Coatings to validate data connector needs.
He holds an Accredited Master Automotive Manager certification and has presented training programs at SEMA, NACE, AASP/NJ Northeast, and other industry events.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
As we enter the new year, many repair shop owners are focused on setting growth and success goals; one challenge remains at the forefront: finding and retaining talent.
It’s an issue facing nearly everyone in the industry, which makes today’s guest, Stan Russell, the perfect person to kick off the year.
With decades of experience as a technician, educator, and mentor, Stan has made it his mission to develop solutions that benefit both shop owners and young technicians. His passion for cars has driven him to create impactful apprentice programs that teach essential skills, including business and financial literacy.
Join Matt DiFrancesco and Stan Russell, Director of Training and Apprentice Development at CollisionRight, as they share their insights on building strong teams, setting realistic goals, and shaping the future of the industry through mentorship and education.
Matt and Stan also talk about:
(03:17) What needs to change to attract young talent into the collision repair industry?
(04:49) Why teaching the business perspective is crucial for training young technicians
(07:39) An advice to help young people future-proof their careers in collision repair
(12:38) Why rapid technician training programs are setting up the industry for failure
(14:04) How can experienced technicians help secure the future of the industry
(15:53) The challenges educators face when running high school automotive programs
(19:57) Why a college degree is no longer the only path to career success
(22:56) Why is training the right person to run your business worth the investment?
(23:53) How can independent shop owners find and attract trained young talent?
Connect With Stan Russell
LinkedIn: https://www.linkedin.com/in/stan-russell-08246326/
Website: https://collisionright.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:
Stan Russell began his journey in the collision repair industry in 1984 as an apprentice technician after graduating from Lincoln County High School in Fayetteville, Tennessee. His entrepreneurial spirit soon led him to launch his own repair shop in 1989, marking the start of a dynamic and influential career.
One of his most groundbreaking contributions came in 2015 when he became the pilot instructor for the Service King Start Program. This innovative initiative, the first industry-funded collision repair program in the U.S., was based in high schools, introducing young people to the opportunities available in the trade.
In the fall of 2023, Stan joined CollisionRight, a regional MSO headquartered in Dublin, Ohio, where he now leads the design and implementation of their Right Start Apprentice Programs. His mission is clear: to make a lasting positive impact on the industry and the next generation.
Stan is passionate about highlighting the specialized nature and financial potential of careers in collision repair. He aims to shift perceptions—whether among young people or shop owners—about the lucrative and rewarding opportunities this industry offers.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Welcome to this third and final installment of our educational series on structuring business for tax efficiencies. In the previous sessions, we covered the complexities of C Corporations, including their benefits, drawbacks, and scenarios where they might be appropriate.
In this episode, Matt and Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, focus on Buy-Sel Agreements highlighting their importance and addressing common misconceptions.
This topic is especially beneficial for business owners working with partners, employees, or family members who are shareholders as they learn a few practical strategies to help protect against unexpected events that could shake up ownership or create challenges for the business.
Matt and Stuart also talk about:
(01.29) Is succession planning the antithesis of a business owner’s strengths?
(02:03) What is the Monte Carlo Analysis?
(04:41) The question that will help you define your true business value
(12:45) Why should business owners have Buy-Sell Agreements?
(15:54) Why Stuart is a big proponent of always having a reverse offer
(22:55) The agreement that Stuart missed which led to 7 years of litigation
(29:51) Two types of insurance business owners must always consider
(31:14) The issue with third-party financing
(33:12) The one requirement to ensure growth and maximize the value of your business
(33:58) Why it is crucial to build a team to help plan for your business’s future
Connect With Stuart Sorkin
Website: https://businessandlegaladvisors.com/
Personal Website: https://stuartsorkin.com/
Phone: (301) 320-1152
Email: info@businessandlegaladvisors.com
LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/
Schedule a call with Stuart: https://calendly.com/stuart-sorkin
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:
Stuart H. Sorkin is the founder of Business and Legal Advisors, a firm that assists small and mid-size businesses with growth strategies.
With over 40 years of experience as an entrepreneur, CPA, and attorney, he specializes in business entity formation, mergers and acquisitions, tax and estate planning, and asset protection.
He co-authored Expensive Mistakes When Buying & Selling Companies…and How to Avoid Them in Your Deals and has been featured in publications like the Wall Street Journal and USA Today.
Stuart also serves on the Board of Trustees for the Jack R. Anderson Charitable Foundation. He holds a B.S.B.A. in Accounting and Finance, a law degree, and an LL.M. in taxation.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Welcome back to part two of our special three-part educational series, where we continue exploring how business owners can optimize their structures for long-term success.
While tax rates were covered in the previous episode, this conversation takes a closer look at other crucial factors that impact business owners, such as transfer strategies, control, and long-term financial planning.
In this session, Matt is again joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, to dive deeper into the key differences between C Corps, S Corps, and LLCs. They also break down how the right entity structure can not only reduce tax liability but also provide shop owners with the flexibility to step back from day-to-day operations while ensuring future growth and stability.
Matt and Stuart also talk about:
(01.09) A big problem in raising investor capital with S-Corps
(03:08) What is a non-qualified deferred compensation plan?
(07:24) How strategic tax and equity planning can protect your business and key talent
(11:49) The role of a strong partnership agreement
(16:18) How to transition ownership while staying in control of the business
(21:13) Key considerations for different stock classes
(23:51) How employee agreements can protect your deal and boost valuation
(28:45) How to turn key employees into owners without breaking the bank
(31:42) How a holding company structure unlocks growth and employee equity
(33:11) Why your CPA or attorney may not recommend a C-Corp
Connect With Stuart Sorkin
Website: https://businessandlegaladvisors.com/
Personal Website: https://stuartsorkin.com/
Phone: (301) 320-1152
Email: info@businessandlegaladvisors.com
LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/
Schedule a call with Stuart: https://calendly.com/stuart-sorkin
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:
Stuart Sorkin brings over 40 years of experience as an angel investor, entrepreneur, CPA, and attorney, specializing in assisting business owners with growth and exit strategies.
In 2018, he founded The Business and Legal Advisors, a consulting firm focused on the financial and legal protection of business owners, executives, and entrepreneurs.
He has expertise in areas such as business entity formation, mergers and acquisitions, tax planning, succession planning, and estate planning.
Stuart is the co-author of Expensive Mistakes When Buying & Selling Companies...and How to Avoid Them in Your Deals and has spoken at various professional groups on exit strategies and asset protection.
He has been featured in top media outlets, including the Wall Street Journal and USA Today, for his insights on tax-related matters.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Welcome to a special three-part educational series designed to help business owners rethink their roles and structures for long-term success.
Many shop owners today, especially younger ones, aren’t ready to transition out entirely but want their businesses to thrive without being dependent on their day-to-day involvement.
This series will explore key strategies to achieve that goal, starting with how the right business structure can minimize tax liability, enhance transfer options, and allow owners to maintain control while stepping back operationally.
In this first session, Matt is joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, to talk about the impact of entity types on ownership goals and discuss the recent tax law updates and their implications, offering practical insights for shop owners looking to future-proof their businesses.
Matt and Stuart also talk about:
(04:00) Why body shop owners should rethink tax planning before 2026
(06:12) When is the right time to start planning your exit strategy?
(06:47) How structuring your sale can save you in taxes
(09:10) The benefits of the different business structures
(17:15) Why most investors don’t like S-Corps
(30:11) What S-Corps can do to fund big purchases without draining cash
(32:24) How smart tax planning can keep you profitable without crossing the line
(34:01) Why it is crucial to know who you are selling to
(35:48) The importance of planning early
(37:05) What is the built-in gains tax?
Connect With Stuart Sorkin
Website: https://businessandlegaladvisors.com/
Personal Website: https://stuartsorkin.com/
Phone: (301) 320-1152
Email: info@businessandlegaladvisors.com
LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/
Schedule a call with Stuart: https://calendly.com/stuart-sorkin
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:
Stuart Sorkin is an attorney, CPA, and founder of Business and Legal Advisors, a consulting firm specializing in strategic business transfers.
With extensive experience in the collision industry, Stuart provides invaluable guidance to shop owners navigating complex transactions.
He is also the author of Expensive Mistakes When Buying and Selling Companies, a must-read book outlining common pitfalls in business sales.
Stuart’s expertise helps business owners avoid costly errors and make informed decisions.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Welcome to a very special episode of Your Business, Your Life!! Today, we’re celebrating an incredible milestone—our 100th episode!
Four and a half years ago, Matt Di Francesco launched this podcast with one goal: to help business owners align their lives and businesses to create generational wealth.
In this episode, Matt reflects on the journey, sharing the lessons learned and the impact created along the way. He expresses heartfelt gratitude to everyone who made this milestone possible.
He also outlines his plans to continue delivering value through the podcast, including exciting new initiatives and content.
Matt talks about:
(00:45) How the Your Business your Life podcast started
(05:50) Why surrounding yourself with smarter people is a game-changer
(06:54) Exciting plans for Your Business, Your Life in 2025
(11:53) Matt’s ultimate goal for the future
Have a topic or question you'd like Matt to cover? We’d love to hear from you! Whether it’s about financial planning, exit strategies, or value building, feel free to share your suggestions or comments. Just send an email to podcast@highliftfin.com, and we’ll be happy to address them in future episodes.
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:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
To exit your business on your own terms and fund your ideal post-business life, increasing its value is essential.
One powerful way to achieve this is by adopting Environmental, Social, and Governance (ESG) practices.
Unfortunately, many collision shop owners are unaware of how ESG practices can significantly impact their business's value, leading to missed opportunities for growth, profitability, and a stronger market position.
Join Matt DiFrancesco and Eddie Hightower, Senior Vice President of Sustainability and Social Responsibility at Caliber Collision, as they dive into how Environmental, Social, and Governance (ESG) practices can drive long-term business growth, enhance business reputation, attract valuable talent, and ultimately boost the overall value of your shop.
Matt and Eddie also talk about:
(03:44) The three components of sustainability
(04:56) Why most shops score poorly on the ESG criteria
(09:45) The importance of reputation
(11:53) One of the biggest challenges in guiding shop owners in preparing for a third-party sale
(15:23) What Caliber Collision looks for when buying a shop
(17:03) How Caliber Collision’s Technician Apprentice Program (TAP) works
(21:56) Why doing the right thing with ESG lifts the entire collision repair industry
(28:28) Why shop owners should embrace sustainability practices and tell their story
Connect With Eddie Hightower
Website: https://www.caliber.com/services/collision
LinkedIn: https://www.linkedin.com/in/eddiehightower/
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:
Eddie Hightower, who joined Caliber in 2015, brings a diverse background spanning legal and HR leadership roles across both private and public companies.
An attorney by trade, Eddie earned his BA from the University of Denver and his JD from the University of Miami School of Law, remaining an active member of the Florida and DC bars.
His unique perspective on sustainability and social responsibility aligns with his experience in human resources—an area often overlooked by collision shop owners.
Eddie also serves as an adjunct professor at the University of Tampa and, outside of work, enjoys the gym, reading, and volunteering for Operation Kindness, a local pet rescue organization.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
Investment advisory services from High Lift Financial are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
The collision repair industry is growing quickly, with more private equity and buyers showing interest. This creates a great opportunity for shop owners to take advantage of the booming market.
However, selling a shop can be complicated, and owners who focus on increasing their shop's value and getting professional help will have the best chance to maximize their profits.
Join Matt DiFrancesco and Laura Gay, Owner and Consultant at Consolidation Coach, as they discuss the rising demand for consolidation in the collision industry, the importance of professional guidance in sales to maximize returns, and their insights on what the future market may hold.
Matt and Laura also talk about:
(02:28) What is Collision Classifieds?
(04:36) The current state of the consolidation market
(07:18) The different tier classifications of buyers
(10:40) Why shop owners should seek professional help when selling their shops
(15:03) What shop owners need to understand about the tax implications of a sale
(17:02) What C-Corporations need to prepare for
(20:12) What the collision repair market will look like in 5 years
(23:59) Why shops need to increase their free cash flow now
(25:38) How a shop’s dependence on its owner affects its value
(29:22) Why shop owners should join the Collision Cocktail Hour
Connect With Laura Gay
Website: https://consolidationcoach.com/
LinkedIn: https://www.linkedin.com/in/laura-gay-b5b576156/
Email:laura@consolidationcoach.com
Phone: 301.399.8675
Book a consultation call: https://consolidationcoach.com/contact/
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
Tune in to The Collision Cocktail Hour!
Join Matt and Laura, along with Micki Woods, Barrett Smith, Clay Hoberecht, and Rick Selover, for the Collision Cocktail Hour, held every third Wednesday of the month at 8 PM Eastern. This open forum offers a valuable opportunity for shop owners to discuss real-world challenges and solutions with their peers, and everyone is welcome to participate!
REGISTER HERE → https://collisioncocktailhour.com/
About the guest:
Laura Gay, a former small MSO shop owner, was approached by aggressive consolidators to sell her shops in 2014. Feeling lost, she took time to learn about the auto body shop Mergers and Acquisitions process, realizing the importance of getting it right when selling.
In 2015, she successfully sold her shops and retired at 42. After helping friends through the selling process, she was encouraged to start a business, leading to the creation of Consolidation Coach, a leading M&A firm for shop owners today.
Outside of work, Laura enjoys drag racing, NASCAR, and spending time with her dogs, Mopsie, Oscar, Stagger, and Miss Pearl.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. 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.
Investment advisory services from High Lift Financial are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Many collision shop owners struggle with managing project backlogs and inefficiencies due to outdated or disjointed software systems, leading to delays, increased manual workloads, and difficulty in tracking key tasks.
These issues not only slow down operations but also prevent shops from maximizing their productivity and retaining top talent.
Join Matt DiFrancesco and Phillip Brown, Principal Consultant / President at Blu Pitt Inc., as they discuss the importance of streamlining processes and the benefits of automation in the collision industry.
Matt and Phillip also talk about:
(02:12) What led Phillip to help businesses streamline project management processes
(04:25) How can collision shops gain better control over their workflows
(04:51) What strategies can shop owners implement to save time on OEM research and ensure accurate repairs
(14:43) How Blu Pitt helps businesses operate more efficiently.
(18:15) What benefits do automation and streamlined processes provide for retaining top talent
(21:22) How Blu Pitt helped Harley-Davidson streamline their processes
(26:23) Why collision shop owners should never underestimate the power of streamlining and automating processes
Connect With Phillip Brown
Website: https://www.blupitt.com/home
LinkedIn: https://www.linkedin.com/in/phillipjbrown/
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:
Phillip is an experienced software engineer who has spent years working with computers and programming.
His journey began when he learned about project management software, which revealed to him that many companies relied on Excel spreadsheets and disconnected tools to manage their projects.
Recognizing the potential for improvement, he utilized his programming skills to create integrated systems that automated processes and provided a comprehensive view of project management for owners and CEOs.
This experience motivated him to start his own business, where he assists companies in refining their processes through software integration, consolidation, and sometimes transitioning to more advanced solutions.
Phillip is on a mission to help 10,000 businesses perfect their project management to give them more organization, better ROI, and retain their high performers by 2033.
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.
Finding skilled talent in the collision repair industry has become increasingly difficult due to a shortage of experienced technicians and a lack of new entrants into the field.
As the industry evolves with advancements in technology and repair techniques, shops struggle to attract candidates who possess both the technical skills and adaptability needed for modern repairs.
Join Matt DiFrancesco and Diane Benting, President at BodyShopJobs, as they discuss the challenges and solutions for the collision repair industry, particularly in finding and retaining talent.
Matt and Diane also talk about:
(01:55) How BodyShopJobs started
(02:53) The biggest mistake shop owners make when acquiring talent
(04:51) The mindset shift that needs to happen in the industry
(06:49) Why shop owners should look to the untapped talent of women in the industry
(10:17) Hiring for culture over skillset in collision repair
(14:16) The value of continuous training
(16:53) What shop owners can do to empower the next generation of talents
Connect With Diane Benting
Website: https://bodyshopjobs.com/
LinkedIn: https://www.linkedin.com/in/dmbenting/
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:
Diane Benting is the president and founder of BodyShopJobs, a dedicated job board for the collision repair industry.
With 16 years of experience in the industry, Diane has deep knowledge of the sector, having worked in various marketing roles at a prominent regional paint jobber before launching her own venture.
She is highly involved in the collision repair community, leveraging her extensive industry expertise to connect businesses with qualified talent.
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.
Collision shop owners, are you truly maximizing the value of your business?
Matt Di Francesco dives deep into this question. He shares eye-opening anecdotes on how simple actions, like answering the phone with empathy or regularly updating customers, can make a significant impact.
Whether it’s improving communication, enhancing digital marketing efforts, or planning for employee retention, Matt provides actionable insights to help shop owners build a thriving business.
In this episode, we're wrapping up a special three-part series recorded live at the Wreck Week conference last June. Join Matt as he concludes this insightful journey, diving into the key strategies for building value in your collision shop.
Matt also talks about:
(01:00) How can shop owners enhance customer service
(04:40) Why digital marketing is a must for collision shops
(07:11) The importance of educating customers on their rights
(09:24) The different types of incentives to offer your employees
(11:18) Why shops must always have a performance matrix
(15:32) The value of having a good tax planning attorney
(15:43) Why having properly structured retirement plans is crucial
(18:56) The advantages of having a CRM for your business
(20:10) The best investment you can make
(21:48) Why Employment Agreements are crucial for your key employees
(23:51) The people involved in guiding owners through the exit process
(24:52) Matt’s value proposition
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:
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.
Have you ever wondered how to truly build and enhance the value of your collision shop?
Building your business's value can be a complex process due to various factors. It involves understanding and adapting to market dynamics, managing finances effectively, streamlining operations, maintaining customer satisfaction and so much more.
Fortunately, with the right strategies and tools, you can simplify these complexities and maximize your business's value, paving the way for a successful exit.
At the Wreck Week Conference last June, Matt DiFrancesco broke down this complex process into a three-step journey for collision shop owners.
Join Matt in the second installment of his three-part series, where he explores the concept of using a GPS approach to build business value and explains why having a business continuity plan is crucial for all entrepreneurs.
Matt also talks about:
(00:30) The first step in building value in your business
(03:11) What Matt loves about the collision industry
(03:53) How to assess your starting point
(04:38) Two ways to close your value gap
(05:48) What is business continuity?
(06:56) Four areas to consider when putting together a business continuity plan
(08:57) The importance of having a Buy-Sell Agreement
(11:02) The problem with “cookie-cutter” valuations
(12:18) How often should agreement and other documents be reviewed?
(17:07) Why stay bonus plans are great for key employee retention
(22:28) The benefits of choosing a C-Corp structure
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:
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.
Are you a business owner struggling to balance the demands of family dynamics with achieving business success?
The majority of businesses are family-owned or operated. Often, multiple family members are involved in running these businesses, leading to unique and interesting dynamics.
Understanding these dynamics is crucial for business owners to strengthen the business, rebuild leadership, and boost productivity within their companies.
Join Matt DiFrancesco and Pete Walsh, Family Business Advisor & Master Coach, as they discuss the challenges that family businesses face and share personal stories of navigating conflicts, setting expectations, and developing leadership within the family business.
Matt and Pete talk about:
(02:32) Why the concept of leadership today is trickier than ever
(06:36) Why family businesses must understand that a business has a lifecycle
(07:27) The common factor among the fastest-growing shops
(08:09) What are some of the biggest challenges that family businesses face?
(10:34) How to create a unified family vision when dealing with diverse personalities
(10:50) The advantage of having objective feedback from outside the family business
(12:23) Why conflicts are completely normal
(14:14) Strategies for parents to help deal with entitlement among their children
(21:11) How the Family Business Coaching System works
(28:19) Pete’s value proposition
(29:30) The one mistake most business owners make
(32:22) The benefits of having the children work someplace else before they go into their family business
Connect With Pete Walsh
Website: https://familybusinessperformance.com/
LinkedIn: https://www.linkedin.com/in/pete-walsh/
Get access to Tools and Proven Strategies that will help your family business thrive and succeed - for FREE! Visithttps://familybusinessperformance.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:
Pete Walsh is a seasoned family business consultant with over 16 years of hands-on experience in his own family business.
In 1997, he founded the Peak Workout Business Coaching System, and in 2013, he established the Family Business Performance Center.
His goal is to support family businesses by offering his proven practices online for free, helping them strengthen and grow. Pete also provides personal coaching to select clients.
He has been happily married for 35 years and is the proud father of two successful adult children.
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.
Last June, WreckWeek 2024 brought together professionals from road clearance, collision repair, and auto repair for a comprehensive expo where attendees could network, participate in workshops, and explore the latest advancements and technologies in accident management and vehicle repair.
Matt DiFrancesco was invited to host an educational session at this event. In it, he emphasizes the importance of strategic planning for collision shop owners to enhance their business value and ensure a smooth and profitable exit when the time comes.
Join Matt in the first of this three-part series, where he talks about the importance of building value in collision shops and businesses, planning for the end game, identifying exit plans, and considering factors beyond revenue and profitability.
Matt also talks about:
(03:15) The 5-year revolving plan
(04:06) Preparing your business for the lifestyle you desire
(06:10) Why a business’s value does not have a fixed formula
(07:21) The difference between an essential owner and an incidental owner
(10:19) The benefits of becoming an incidental owner
(11:52) Why is it important to build value in your shop?
(15:11) An underutilized talent in the collision industry
(17:10) The value of preserving the legacy and reputation of your business
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:
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.
Have you ever considered how your physical, emotional, and mental health impact your leadership abilities and business success?
When we talk about leadership, we often think of styles and techniques, rarely considering how our overall well-being ties into our effectiveness.
But what most people don't realize is that the health of the leader, the team, and the business are deeply interconnected. The decisions you make as a leader not only determine your company's success but also impact the well-being of your team and your own health, right down to your DNA.
Join Matt DiFrancesco and Luci Gabel, Executive Integrative Leadership Coach & Trainer, as they discuss the profound influence of proper nutrition and rest on cognitive, emotional, and physical well-being, emphasizing how crucial it is for leaders to prioritize self-care.
Matt and Luci talk about:
(04:25) How nutrition and physical health directly affect one's leadership abilities
(08:00) The impact of DNA health on aging and wellness
(09:38) How sleep can either be beneficial or highly detrimental
(10:50) Strategies leaders can adopt to combat sleep difficulties
(13:20) The importance of walking away from your desk every so often
(14:31) How does nutrition impact physical, mental, and emotional well-being?
(15:21) What the book "Eat to Lead" is all about
(22:15) Luci's current flagship program
(23:07) How to overcome the loneliness of leadership
(25:01) The best way to reach any goal in terms of lifestyle change
Connect With Luci Gabel
Website: https://www.lucigabel.com/
LinkedIn: https://www.linkedin.com/in/lucigabel/
Get a copy of Luci’s book, Eat to Lead
https://www.eattolead.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:
With over 25 years in leadership roles, primarily in five-star white glove spas and health clubs, Luci Gabel has honed a unique blend of business and health expertise.
Throughout her career, she has worked with individuals, groups, and teams to improve physical health, whether it be through weight loss, enhancing athletic performance, or reducing serious illnesses.
Having lived in major cities around the world, Luci brings a global perspective to her work. Educated in health with a pre-med background and lifelong exercise professional certifications, she deeply understands the interconnectedness of leadership, team well-being, and business 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. 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.
Are you feeling the pressure of consolidation in the collision repair industry?
In these challenging times, independent shop owners face mounting fears as larger franchises and MSOs dominate the market.
For those who want to maintain their independence and identity while gaining the perks of a larger franchise model, joining a supportive network can provide a much-needed lifeline.
Join Matt DiFrancesco with guests, John Hollingsworth and Kristle Bollans from CSN Collision as they discuss the challenges faced by independent shops today and how joining a supportive network can empower them to gain a competitive advantage in the collision repair industry
Matt, John, and Kristle also talk about:
(01:49) How CSN Collision helps support independent shops
(09:54) Why women make wonderful technicians
(14:06) Why the industry needs to shift its mentality on what a technician does
(15:36) The importance of keeping up with industry trends
(18:14) The ideal shop that CSN is looking for
(21:17) Why the industry needs to focus on educating its customers
(23:48) How CSN Collision is helping improve the collision repair experience
(30:28) An advice to independent shop owners
Connect With CSN Collision
Website: https://csncollision.com/en/
LinkedIn: https://www.linkedin.com/company/csncollisionusa/
Instagram: https://www.instagram.com/csncollisionusa/
Email: feedback@csncollision.com
Phone: 1-866-400-4276
John Hollingsworth - https://www.linkedin.com/in/john-hollingsworth-53a44b51/
Kristle Bollans - https://www.linkedin.com/in/kbollans/
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 guests:
John Hollingsworth is the Director of Business Development at CSN Collision USA. His dedication to mentorship and leadership has inspired countless individuals to strive for greatness. With a remarkable ability to foster genuine connections and tackle challenges with positivity and grace, John is an invaluable asset to any organization, embodying the qualities of a true leader and team player.
Kristle Bollans is the National Sales Director at CSN Collision USA. With over two decades of expertise in sales and management within the mobility and hospitality sectors, she has consistently achieved success by improving efficiency and elevating customer satisfaction. Kristle is also on the Board of Directors and serves as Chairman of the Industrial Relations Committee for the Women’s Industry Network.
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.
Collision shop owners need to plan their exit strategy early. One crucial part is choosing who to entrust the business to once they leave it.
Often, shop owners need to learn or underestimate the potential of key employees to fill this role and would instead lean towards a third-party sale.
However, if they only take a closer look, whether it’s a family member or a trusted employee, these people can do the job just as well.
In this episode, Matt talks about identifying successors for your collision shop business, what qualities to seek in them, and what support you can provide to help them flourish in their new roles.
Matt also talks about:
(01:59) The key traits to look for in potential successors for the business
(03:15) A tool to help identify successors
(04:00) Why it's important to give yourself time to plan your business exit
(05:19) The value of cross-training your employees
(06:14) The crucial role of personal development
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:
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 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.
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.
Artificial Intelligence has opened up incredible possibilities in our daily lives. It has significantly impacted how we learn, conduct business, and navigate our routines, profoundly altering our world in ways we once thought impossible.
But as they say, "too much of a good thing is bad," and this sentiment holds even in the realm of AI. While AI has the potential to be a helpful ally, relying on it too much could bring unexpected challenges and drawbacks.
AI works best when used wisely and responsibly. By incorporating ethics into its development and use, we can enjoy its capabilities for a better and more sustainable future.
Join Matt DiFrancesco and Laura Miller, an Award-winning AI Ethicist, Digital Humanitarian, and founder and CEO of NextGen Ethics as they explore the future of AI and discuss the ethical aspects crucial to this transformative technology and how it impacts the automotive industry.
They talk about:
(04:47) The benefits of having human experts to oversee AI
(06:11) How Laura got involved with ethical AI
(09:33) The three ideas behind the ethics of Artificial Intelligence
(10:11) The challenges of dealing with AI in the collision repair industry
(16:14) A human ability that AI will never mimic
(17:15) Why AI cannot replace humans as a superpower
(26:06) The value of educating people about understanding AI
(27:37) What the automotive industry needs to be aware of about the dangers of AI
Connect with Laura Miller
Website: https://www.nextgenethics.com/
LinkedIn: https://www.linkedin.com/in/lmiller-ethicist/
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 Our Guest:
As the CEO and founder of NextGen Ethics, Laura Miller strives to advance the development of ethical AI. She teaches philosophy at Webster University and serves as the Director of Ethics at Shadowing AI.
Miller has been recognized by NASA for her contributions to tech ethics, and she is a member of other tech advisory boards, such as the Open Voice Network, which is funded by the Linux Foundation.
Her humanitarian endeavors have also earned her a Knights of Columbus award, and The New York Times and Lens Magazine have published articles about her ethnographic studies.
She received her BA and MA in Philosophy from the University of Missouri-St. Louis, where she focused on applied ethics. She speaks on ethical concerns related to AI both domestically and globally.
Have you ever wondered why some of the most successful people, those who seem to have it all, still feel so lost despite their achievements?
Many high achievers are trapped in a continuous cycle of striving for more without feeling content. So, how does one transform success into genuine fulfillment?
In a world where the pursuit of success often takes center stage, it's essential to recognize that success alone does not guarantee fulfillment or happiness. Sometimes, we must go through self-discovery and growth to find a more meaningful and purposeful life.
Join Matt DiFrancesco and Charis Santillie, a Life Balance and transition Coach for Entrepreneurs and Host of the Charis Your Life podcast,in this second part of their conversation as they discuss the value of personal development and how it can have a tremendous impact on personal growth and business success.
They talk about:
(01:39) The importance of personal development
(03:41) Personal development and its impact on communication skills
(11:28) How personal development can help you understand how people perceive you
(14:03) The value of awareness
(18:24) What to do when you can’t explain someone’s behavior
(24:34) The challenge of being in the comfort zone
Connect with Charis Santillie
Website: https://www.charisyourlife.com/
Podcast: https://www.charisyourlife.com/podcast
LinkedIn: https://www.linkedin.com/in/charisyourlife/
FREE Saboteur Assessment: https://www.charisyourlife.com/assessment
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 Our Guest:
Charis Santillie is a Life Balance & Transition Coach and the Charis Your Life® podcast host.
She has been a business owner for over twenty years and is also a speaker, Certified Fearless Living® Coach, Certified Fearless Trainer, and Positive Intelligence® Trainer.
Charis’ Busy to Balanced™ program has been an enormous success, with 94% of her international clients giving positive evaluations and stating that she met or surpassed their expectations.
For the past ten years, Charis has been researching personal growth and healing techniques ranging from the spiritual to the scientific. She also offers advice based on her personal experiences in her Life's a Hoot blog and Charis Your Life podcast (which reached the Top 40 in U.S. Entrepreneurship and the Top 200 in U.S. Business on Apple Podcasts and Top Charts in 6 countries).
Have you ever wondered why some of the most successful people, those who seem to have it all, still feel so lost despite their achievements?
Many high achievers are trapped in a continuous cycle of striving for more, without ever feeling contented. So, how does one transform success into genuine fulfillment?
In a world where the pursuit of success often takes center stage, it's important to recognize that success alone does not guarantee fulfillment or happiness. Sometimes, we have to go through the journey of self-discovery and growth to find a more meaningful and purposeful life.
Join Matt DiFrancesco and Charis Santillie, Life Balance & Transition Coach for Entrepreneurs and Host of the Charis Your Life podcast,in this second part of their conversation as they discuss the value of personal development and how it can have a tremendous impact on personal growth and business success.
They talk about:
(01:39) The importance of personal development
(03:41) Personal development and its impact on communication skills
(11:28) How personal development can help you understand how people perceive you
(14:03) The value of awareness
(18:24) What to do when you can’t explain someone’s behavior
(24:34) The challenge of being in the comfort zone
Connect with Charis Santillie
Website: https://www.charisyourlife.com/
Podcast: https://www.charisyourlife.com/podcast
LinkedIn: https://www.linkedin.com/in/charisyourlife/
FREE Saboteur Assessment: https://www.charisyourlife.com/assessment
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 Our Guest:
Charis Santillie is a Life Balance & Transition Coach and host of the Charis Your Life® podcast.
She has been a business owner for over twenty years and is also a speaker, Certified Fearless Living® Coach, Certified Fearless Trainer, and Positive Intelligence® Trainer.
Charis’ Busy to Balanced™ program has been a huge success, with 94% of her international clients giving it positive evaluations and stating that she met or surpassed their expectations.
For the past ten years, Charis has been researching personal growth and healing techniques ranging from the spiritual to the scientific. She also offers advice based on her personal experiences in her Life's a Hoot blog and Charis Your Life podcast (which reached the Top 40 in U.S. Entrepreneurship and the Top 200 in U.S. Business on Apple Podcasts, as well as Top Charts in 6 countries).
As business owners, we often find ourselves so engrossed in the daily grind that we forget to stop and ask the most crucial question: Are we truly living the life we want?
While achieving professional success is undoubtedly essential, it's equally important to pause, reflect, and ensure that personal growth and mental fitness are not left behind.
The truth is that self-awareness, finding space for what truly matters, and improving our mental fitness are essential components that can lead to lasting peace of mind and a more fulfilling life.
Join Matt DiFrancesco and Charis Santillie, Life Balance & Transition Coach for Entrepreneurs and Host of the Charis Your Life podcast,as they talk about how our mental challenges can hold us back from achieving the life we want and how having a coach to guide us as we face these hurdles is vital to having a richer life than what we imagined.
They talk about:
(02:20) How a family tragedy led Charis to become a life coach
(07:30) Scarcity vs. abundance
(10:36) The difference between life coaching and therapy
(18:32) The benefits of having an “Outside Advisor”
(23:27) Why personal development is crucial
(24:59) Why you shouldn’t use your busyness to avoid uncovering who you are
(27:06) One of the key purposes of our lives
Connect with Charis Santillie
Website: https://www.charisyourlife.com/
Podcast: https://www.charisyourlife.com/podcast
LinkedIn: https://www.linkedin.com/in/charisyourlife/
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 Our Guest:
After a hot air balloon accident that led her dad to become paralyzed, Charis Santillie’s life completely changed. Her mother developed alcoholism while she kept herself ridiculously busy to be able to control her internal crises.
When Charis realized that she shouldn’t let her father’s condition paralyze her life, she met with a life coach who helped her peel back her protective layers and learn to trust herself and the world around her. She then spent the next 10 years focusing on personal development until she finally found calm and inner peace.
Charis now guides top achievers through their personal and professional transitions and helps them go from “busy to balanced”. She believes that it’s possible to live the life we want without dealing with persistent guilt, worries about others' opinions, or sacrifices to your health and sense of purpose.
Aside from being a coach and podcast host, Charis is also a speaker, Certified Fearless Living® Coach, Certified Fearless Trainer, and Positive Intelligence® Trainer.
DISCLAIMER: The content posted here solely represents the opinions and views of the guest and may not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
For anyone who owns a business, the process of passing down a company from one owner to the next can be quite challenging.
Without proper guidance and careful planning, it can be difficult to know where to start when considering how best to transition ownership and ensure profitable continuity for yourself and future owners.
Furthermore, understanding the pitfalls of succession planning and developing clear exit options before any transactions occur is essential in creating positive long-term outcomes for all parties involved.
Join Matt DiFrancesco and Laurie Barkman, The Business Transition Sherpa, Author, and M&A Advisor,as they talk about how entrepreneurs can approach transitioning their businesses from transactional model efforts to more strategic initiatives —and what measures need to be taken to avoid common missteps along the way.
They talk about:
(02:46) The story behind the name “Business Transition Sherpa”
(03:51) What prompted Laurie to write the Business Transition Handbook
(10:31) Why businesses that are very dependent on the owner will not create much value
(11:56) What is a strategic readiness plan and why is it important?
(15:49) The best time to start planning for business transition
(19:58) A good place to start when transitioning your business
(22:52) Why is hiring a Transition or Exit Planning Specialist important?
Connect with Laurie Barkman
Website: https://thebusinesstransitionsherpa.com
Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/
LinkedIn: https://www.linkedin.com/in/lauriebarkman/
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 Our Guest:
Laurie Barkman, the business transition sherpa, is the former CEO of a $100 million revenue company that was sold to a Fortune 50. As a mergers and acquisitions expert, Laurie offers business owners a systematic method for organizing smooth transitions inside their organizations.
Laurie is the author of The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options, guiding business owners on their journey from transition to transaction, from creating value to letting go.
She is an adjunct professor of entrepreneurship at Carnegie Mellon University and hosts the award-winning podcast Succession Stories, where she speaks with hundreds of entrepreneurs who have shared their journeys through succession.
Laurie earned her MBA from Carnegie Mellon University and a Bachelor of Science degree from Cornell University. She received certifications from The Alliance of Mergers & Acquisitions Advisors, The Exit Planning Institute, and The Value Builder System.
Laurie currently lives in Pittsburgh with her husband and two kids.
DISCLAIMER: The content posted here solely represents the opinions and views of the guest and may not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
In today’s fast-paced and unpredictable world, businesses of all sizes face numerous challenges that can disrupt their operations.
As a collision shop owner, unforeseen events such as natural disasters, economic downturns, and supply chain disruptions can severely impact your ability to provide services to your customers.
Having a sound business continuity plan can help protect your hard work and provide peace of mind should anything happen or if you choose to leave the industry in the long term.
In this episode, Matt DiFrancesco talks about what goes into creating an effective business continuity plan and how this planning process can be invaluable for safeguarding the future of your collision shop’s success.
Matt also discussed the following:
(01:35) The first area of business he looks into when working with a shop owner
(07:45) Why businesses must have “stay bonus plans” for key employees
(11:23) The importance of knowing the value of your business
(12:11) How proper valuation prevents asset gap
(14:09) How to keep continuity in the business
(16:36) The importance of having a buy-sell agreement
(21:32) Why it’s critical to have a fiduciary financial advisor
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 information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
The collision repair industry has long been a male-dominated space. And the stigma that women are not as strong or capable as men poses challenges for women who aspire to make their mark in it.
Fortunately, the number of females in the workforce is slowly increasing. And some female mentors have successfully navigated their way through the industry – proving that women can leverage their unique skill sets to demonstrate their value to the business.
With patience, perseverance, and passion for their job, women can achieve great success and help break down barriers in the male-centric field of collision repair.
Join Matt DiFrancesco and Petra Schroeder, one of the most influential women in the collision repair industry and a trustee of the Collision Repair Industry Foundation, as they talk about how women can break the stigma and have successful careers in the collision repair business and how the industry can benefit from of the strengths that women in the workforce have to offer.
They talk about:
(05:22) What’s impressive about the collision industry
(06:58) Petra’s advice for women who want to enter the collision industry
(09:03) What it means to be a first-class woman
(12:57) How can women define their personal brand
(17:01) How should an owner prepare his shop for when a female comes on board
(19:01) The value of having men and women work together
(22:25) The unique advantage of a female over a male business owner
Connect with Petra Schroeder
LinkedIn: https://www.linkedin.com/in/petra-s-15261412/
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 Our Guest:
Petra Schroeder started her career in 1969 in Germany as an apprentice at Herberts, a chemical company. In 1995, she decided to join the American Standox team and had several opportunities to work in various positions with the DuPont Performance Coatings and Axalta company.
Upon retirement in 2016, she realized that her passion for the industry was much more profound than she thought, so she decided to stay engaged and involved.
Petra has been a member of the Women Industry Network since its inception in 2006 and proudly served as its chair from 2016 to 2018 and its Immediate Past chair until May 2019. She currently serves as a trustee/secretary of the Collision Industry Foundation and is a member of the executive, fundraising, and marketing committee.
She has received several industry awards, including Most Influential Woman in 2018 by the Women’s Industry Network and the March Taylor Kina’ole Award from the Society of Collision Repair Specialists. In 2021, Petra became an inductee to the Collision Industry Hall of Eagles.
Petra considers herself a "Collisionista," which is a fantasy word derived from "Collision," ending with a female version (similar to Fashion/Fashionista).
As a business owner, you have put countless hours, blood, sweat, and tears into growing your business. It has become a massive part of your life, with a significant financial and emotional investment.
However, as much as you love your business, you can’t stay in it forever.
Because the reality is, at some point, you will need to exit, whether due to retirement, family reasons, or other unforeseen circumstances.
But with a solid plan in place, you could take advantage of potential opportunities to maximize the value of your business and secure a comfortable retirement.
That is why if you want to put yourself in a much better position to achieve your goals and protect your legacy, developing a comprehensive exit strategy needs to start now.
In this episode, Matt Di Francesco shares his insights on the importance of planning with the end in mind and why now is the perfect time to start building your business exit strategy.
Matt talks about:
(02:44) Why business owners shouldn’t wait to create an exit plan
(03:06) What most shop owners miss when running their business
(07:22) The value of family meetings
(10:18) The biggest challenge in the planning process
(16:56) Why business owners must know the value of their business
(20:09) One of the most challenging conversations to have with most shop owners
(21:43) The benefits of hiring an exit planner
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
Being a body shop owner in the collision industry today is no easy feat. The market is vast, and the competition is fierce.
That is why settling just to be good or average is not enough.
To truly stand out and be extraordinary, businesses must focus on how they are treating their customers, what kind of culture they are creating in their workplace, and how they are incorporating the latest technology to stay ahead in the game.
Join Matt DiFrancesco and Mike Anderson, President - Owner at Collision Advice, as they discuss how collision shop owners can shift their mindset and strive to be extraordinary in every aspect of their business.
They talk about:
(02:25) Why collision shops need to deliver a phenomenal customer experience
(04:13) The importance of OEM Certifications
(05:53) Why shops should record how their employees handle customer calls
(07:28) The value of building culture in the workplace
(16:48) Why business owners should ask employees to evaluate them
(22:25) What shop owners need to understand about their employees' drive and passion
(24:34) Why business owners must be aware of their employees’ vision for the future
(25:32) What every choice you make today should lead to
(28:55) The importance of having a plan in place in case you pass away
(29:39) Why you need to have a mediator during succession planning
Connect with Mike Anderson
Website: https://collisionadvice.com/
LinkedIn: https://www.linkedin.com/in/mike-anderson-1124ba48/
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 Our Guest:
Mike Anderson is considered one of the gurus in the collision industry. He used to own multiple collision shops in Alexandria, VA. which held numerous OEM certifications. They were also voted the #1 Collision repair business for 12 years in a row in the Washington DC, MD, VA area.
Today, he is the owner of Collision Advice, an industry research and consulting business that provides expert guidance and real-world, cutting-edge solutions to collision businesses in the country.
Mike speaks with a lot of passion and whenever he speaks at conferences, the room gets packed full of people who are eager to learn from his wealth of knowledge in the business.
Last year, I was a guest on the Virtual U.S. Financial Advisors podcast where I talked about my financial assessment process. We’ve divided the episode into 8 parts and today I’ll be sharing with you the last of the series.
In this episode, I completed the financial assessment process that we go through without clients and covered everything else from our financial plan, including asset protection, funding, and planning.
(01:49) What are the ways to help protect assets
(04:06) The advantages of creating separate business entities under one umbrella
(09:08) Why do you need to start to define what’s really important to you
(10:18) The purpose of having assessments
(12:15) What keeps me awake at night
Get a copy of our one-page assessment chart here: https://bit.ly/3tVosaq
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
A smart and effective transition plan for a family business is critical for its future and should be taken seriously.
That is why getting the necessary help from professionals is important for anyone who is thinking about transitioning their family business to the next generation.
Because a well-thought-out transition plan is not just about preserving what has been built over the years but also for business owners to find life after exiting their businesses.
In today’s episode, Larry Dragan, CEO of Ultimate Unlimited, LLC. shares his journey from working in a garage, to buying the business, and eventually transitioning it over to his son. He also discusses how his passion for other things made the process a lot easier.
We also talked about:
(02:32) How Larry got into transitioning his business
(04:04) How he turned over the garage to his son while still remaining involved in the business
(05:48) The importance of having an exit plan
(10:13) How Larry’s other interests helped make the transition easier
(17:10) How long the business transition process took
(18:52) Issues we are seeing in the automotive industry
(22:13) Why the pay structure for technicians has to change in the future
Connect with Larry Dragan
Website: https://www.ultimateunlimitedllc.com/
Email: UltimateUnlimitedLLC@gmail.com
Phone: 866-202-2290
LinkedIn: https://www.linkedin.com/in/larry-dragan-30547560/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About the Guest:
As a young kid, Larry Dragan started by taking apart things like lawnmowers and other stuff that his dad never had any idea how to put back together.
From the age of 14, he worked his way through high school by helping his father work at a garage that is owned by a close family friend.
When the time came for the garage owner to retire, he made an offer to Larry to buy the business. He became the owner of the garage at 19 until he eventually turned it over to his son while still serving as the chairman of the board.
In the 90s, Larry got involved in the mediation of problem vehicles and served on the arbitration boards for both Chrysler and Ford.
Today, he still provides many services nationwide, including expert witness services, lemon law cases, pre-purchase inspections, automotive appraisals, automotive mediation, umpiring, and automotive business coaching and development.
We’re now down to the last 2 parts of this series, where I talked about my financial assessment process as a guest on the Virtual U.S. Financial Advisors podcast.
In this episode, I shared my insights on what financial advisors do and how to determine the right advisor for your specific needs.
In this episode, I discussed:
(02:23) Why the financial industry gets a bit of a bad name
(02:52) Questions you need to ask if you’re looking for an advisor
(05:30) The difference between a fiduciary from someone who is based on suitability
(07:05) Why the majority of what advisors do is more psychological than anything else
(07:17) The three criteria I look for in clients
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
People are the power engines of business success and growth. That's why managing "people problems" should be seen as a necessary part of developing a successful business.
What makes a strong leader is someone who understands the dynamics among people, can motivate and enable team members, define roles, look at external factors that may affect morale, and create activities to foster engagement and retention.
Tune in to today’s episode, as Bruce Schronce, President and Founder of StrongLead, LLC. shares his insights on how developing great leaders fosters positive growth and promotes long-term success for businesses out there.
We talked about:
(06:19) Why is there such a need for leadership training?
(12:30) The 3 critical things StrongLead brings to the table
(17:39) Why leadership is a personal thing
(21:03) What leadership development is all about
(26:07) Why Bruce recommends targeting and niching to his clients
(29:55) Bruce’s top piece of advice
(31:56) Why your people are NOT your greatest asset
Connect with Bruce Schronce
Website https://stronglead.org/
LinkedIn: https://www.linkedin.com/in/bruce-schronce-38470115/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About the Guest:
Bruce Schronce liked seeing great leadership and was influenced by a lot of good strong leaders throughout his life. Eventually, he found himself in leadership roles that he started to become truly passionate about it.
A lot of his experience and education was geared around leadership. He got a Master’s degree in leadership development and became certified as a leadership coach.
Today, Bruce is the Founder and President of StrongLead, an organization that specializes in challenging leaders to a comprehensive approach of personal, lifelong leadership development, organizational perspectives, committed engagement, team building, and action planning that lead to definitive and deliberate steps of positive growth and significant impact.
Several months ago, I was a guest on the Virtual U.S. Financial Advisors podcast, where I shared details of my financial assessment process. We have divided this episode into 8 parts which we shared with you over the past few weeks.
In the 6th installment of this eight-part series, I shared my insights on what could happen in the event that the next generation of the family is not interested in running the business.
In this episode, I discussed:
(01:29) How to work with key team members when it comes to business considerations and income needs.
(06:08) How to keep a business functioning in the event of the owner’s death or disability
(06:58) What is a buy-sell agreement
(12:44) The advantage of having plans in place in case a spouse dies
(15:21) The value of having the foresight
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
I’ve been working with family businesses for the last 17 years. And since then, I’ve developed relationships with business owners who became my personal clients.
As I learned about the intricacies of the business and how important business continuity is for these owners, I’ve put together my own system in order for me to help them.
Today, I’m sharing the interview I had on Why We Plan: A Podcast For Exit Planners and Business Owners with host and BEI Founder John Brown. I shared my story of how I got into Exit Planning and how the BEI 7-Step Exit Planning Process™ and access to a network of seasoned professionals have made a world of difference to my clients and their businesses.
I also talked about:
(01:20) What got me interested in Exit Planning
(02:24) What I really love about BEI
(04:07) The first step of the exit planning process
(04:39) What most advisors aren’t aware of about exit planning
(08:01) The core of my business
Connect with BEI
Websites https://www.exitplanning.com/
LinkedIn: https://www.linkedin.com/company/business-enterprise-institute/
Twitter: @BEIexitplanning
Facebook https://www.facebook.com/BEIexitplanning
Youtube: https://www.youtube.com/user/ExitPlanningExperts
Phone: (888) 206 - 3009 - Toll-Free
(303) 321 - 2242
Connect with John Brown
Websites: Exit Planning for Advisors
Inside the Exit Blog
John Brown Presents
LinkedIn: https://www.linkedin.com/in/johnhbrown/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About BEI:
Business Enterprise Institute, Inc. (BEI) is an organization that provides business advisors the tools to help them differentiate their practice and provide better solutions to clients. They offer comprehensive Exit Planning training, marketing support, and plan-creation tools,
For over 25 years BEI has helped advisors build deeper relationships with clients and have provided resources to help business owner clients reach their goals.
About John Brown:
For over 30 years, JOHN H. BROWN has skillfully guided hundreds of business owners through the most important financial (and emotional) transaction of their lives: the exit from their companies.
Today, John Brown is the founder of Business Enterprise Institute Inc. (BEI). He created the BEI 7-Step Exit Planning Process™ and successfully tested it on hundreds of his own business-owner clients.
We’re now halfway through this eight-part series where I was a guest on the Virtual U.S. Financial Advisors podcast. For Part 5, I discussed the value of having the family involved in planning for the future of the business and why family meetings are vital.
In this episode, I talked about:
(03:42) The first step in planning for the family business succession
(05:00) Why do I prefer the founders of these family businesses to share their story
(06:21) The steps to take to encourage the child to learn how to take over the business
(07:55) The importance of having the right people in the right seats
(09:06) How to overcome situations where the next generation has no interest in taking over the business
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
When it comes to family businesses, continuity is the key. And no one knows this better than the business owner who is looking to transition out of their business.
Whether it's due to retirement, health concerns, or simply a desire to move on to something new, exiting a business can be complex and emotionally draining.
Fortunately, there are a few things that business owners can do to help ensure a smooth transition. These are steps that business owners can take so that their family business can continue to thrive long after they've left it.
Join Matt DiFrancesco and Nicholas Niemann, a family business continuity attorney and Partner at McGrath North Mullin & Kratz, as they talk about how to design and deploy critical actions that business owners need to grow, protect, and transition their family businesses - and end up with a strong “fourth quarter” in business and in life.
They also talked about:
(02:17) How Nick got into business continuity planning
(03:33) What the “pioneer mindset” is all about
(06:19) What fourth quarter planning means
(11:49) How to address business owners who are not sure if they want to leave the business
(14:08) The three key questions every business owner must be able to answer
(15:09) How does the Business Model Canvas work?
(15:50) Why business owners need to understand how their business model works
(17:01) How does Nick help business owners identify what their primary business is?
(19:55) The importance of understanding your WHY
(21:47) The value of having a continuity plan in place
(25:14) Why business owners need to start planning early
Connect with Nicholas Niemann
Websites:
https://www.mcgrathnorth.com/
https://www.mcgrathnorth.com/attorneys/nicholas-k-niemann
https://www.myfourthquartergameplan.com/
LinkedIn: https://www.linkedin.com/in/nick-niemannba635810/
Phone: +1 (402) 633-1489
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:Nicholas Niemann grew up in a small midwest town in Quincy, Illinois where his family ran a number of family businesses. He studied at Creighton University College of Business in Omaha then went on to law school.
His entire life, Nick’s focus has been on companies with small middle market, family businesses, and largely the supermarket businesses that his family was involved in as he grew up.
In 1983, he started working at the McGrath North Mullin & Kratz, PC LLO as a partner and practicing attorney.
Nick has developed four principal areas of practice while with McGrath North namely: State and Local Tax and Incentives, Business Owner Succession and Exit Planning, Business Planning and Design, Family Estate Planning.
Today, Nick enjoys working with family businesses of all types and sizes around the country. As a long-time business continuity attorney, he has also developed specific protocols for business continuity, succession, and exit planning and has worked with more than 900 CEOs around the country to help build a strong economic future for companies and the families which count on them.
As a Succession Planning and Exit Planning attorney, he has authored books on Succession and Exit Planning (including his latest book, “Fourth Quarter First”).
As we continue on the fourth of this eight-part series where I was a guest on the Virtual U.S. Financial Advisors podcast, I shared why culture is vital and how it contributes to increasing the value of any business.
Also, I discussed succession development and employee retention, which are essential parts of exit planning for any business owner.
I talked about:
(02:19) The importance of building culture within the business
(05:04) Why transparency matters in employee retention
(09:27) What is the biggest reason for dysfunction in a team?
(17:30) What true leadership means
(18:59) One of the greatest leadership books I have ever read
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
Choosing the right business structure can be overwhelming for most business owners. That’s mainly because not everyone has a background in accounting or tax law.
And it’s no surprise that there is often some confusion about what S Corp and C Corp mean, their benefits and disadvantages, and what factors should be considered in choosing which one would work best.
Join Matt DiFrancesco and Stuart Sorkin, Founding Member at The Business and Legal Advisors, as they discuss industry insights and the key differences between the two business structures to help entrepreneurs and collision shop owners make an informed decision about which is right for their business.
They also talked about:
(02:46) How Stuart got involved in planning with automotive collision shops
(05:12) What lifestyle practice means
(07:17) The biggest challenge in the industry
(07:47) How can shop owners overcome the shortage of talent
(09:20) The importance of having employees sign a training bonus agreement
(13:04) S Corp vs. C Corp
(16:22) The biggest problem with S Corporations
(18:59) Two drawbacks of becoming a C Corporation
(20:57) What goodwill means
(25:42) What business owners should consider in choosing a business structure
(27:20) The real issue with most entrepreneurs
Connect with Stuart Sorkin
Email: SSORKIN@SHSPC.COM
Websites: https://stuartsorkin.com/
https://businessandlegaladvisors.com/,
LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/
Phone: +1 (301) 320-1152
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Stuart Sorkin is the founder of The Business and Legal Advisors, a consulting firm specializing in the financial and legal protection of business owners, executives, and entrepreneurs throughout the United States and overseas at every stage of their business life cycle.
As a former entrepreneur, CPA, and attorney with more than 30 years of experience, he possesses a unique set of capabilities to assist a business owner with the challenges of growing and/or exiting a business.
He works with startups and small to mid-size business owners to integrate their personal financial and estate planning goals with the development and implementation of growth and/or succession or exit strategy for their business.
Stuart is also the co-author of "Expensive Mistakes When Buying & Selling Companies...and How to Avoid Them in Your Deals."
Stuart Sorkin has been interviewed by the Wall Street Journal, Time Magazine, USA Today, Money Magazine, and BankRate.com on a wide range of tax matters. He is also a frequent lecturer on exit strategies, estate planning, and asset protection to various professional and small business organizations and associations.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
We are now in the third installment of this eight-part series where I was a guest on the Virtual U.S. Financial Advisors podcast. In this episode, I discussed the importance of identifying value divers and exit objectives for the family business.
One of the important aspects of my financial assessment process is to consider the things within your business that we can work on to help drive the value of the business up.
I also talked about:
(04:49) What is a value drivers report
(06:34) How to use the value drivers report
(09:42) Could the same exit planning concept be applied to serial entrepreneurs
(11:20) The key things to focus on in an exit objective
(20:02) Why building a sound financial plan takes a collaborative effort
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
Many people who own automotive repair businesses started out as technicians. They may be excellent at repairing cars but they have no experience leading a team of people.
As a result, they may not be aware of the various strategies that good leaders use to motivate and inspire their employees.
And without proper guidance, business owners may quickly become overwhelmed by the challenges of running a successful operation.
Join Matt DiFrancesco and Dan Ryan, Founder and Owner of Team Ryan Automotive, as they talk about Dan’s journey from an entry-level apprentice to starting his own business and how the skills he acquired along the way helped him become a better leader and led him to growing his business from scratch to $2 million in sales in the last seven years.
They also talked about:
(02:31) How Dan got into the automotive repair industry
(08:17) What prompted Dan to start his own business
(12:35) The biggest challenges in starting your own business
(16:58) Why Dan thinks the staffing issue in the automotive industry is partially self-inflicted
(19:46) Why shop owners should invest in their people
(24:29) The stigma attached to automotive technicians
(26:49) How has the recent round of inflation affected how technicians are getting paid
(29:32) The problem with having entities that have not been trained in how to service and repair a vehicle dictating the course of the diagnostics and repair
Connect with Dan Ryan
Email: Dan.R@TeamRyanAutomotive.com
Website: https://www.teamryanautomotive.com/
Facebook: https://www.facebook.com/teamryanauto
LinkedIn: https://www.linkedin.com/company/team-ryan-automotive?trk=biz-companies-cym
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Dan Ryan received his Associate Degree in Automotive Technology in 1999. He spent the next five years as a full-time service technician at a local dealership and he quickly progressed from being an entry-level apprentice to a senior level ASE certified and GM factory trained World Class technician.
In 2004, he moved to Gwinnett Place Honda Hendrick Collision Center, where he added Honda factory training and I-CAR Platinum Individual recognition to his list of accomplishments.
Consistent with his quest for even greater achievements, and with his wife’s formal business management training, the two decided to start their own shop in 2015.
Today, Dan Ryan is the Founder and Owner of Team Ryan Automotive, an innovative customer-focused repair shop in Buford, GA.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
A couple of weeks ago, I shared with you the first of an eight-part series where I was invited as a guest for the Virtual U.S. Financial Advisors podcast. Basically, I gave the audience an idea of how I identify my client’s major wants, needs, and concerns through my financial assessment process.
In this second episode, I discussed why some business owners consider the maximum price/minimal taxes as one of their top financial concerns, and why it’s important to have a basic valuation for your business.
I also talked about:
- (04:28) What is a basic business valuation for?
- (07:33) What are the things to look at to help gauge a business’ value
- (11:02) What a retirement plan does
- (14:21) When is a good time to start planning for your exit
- (15:43) Why I consider myself a “financial quarterback”
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
A lot of businesses all over the world have been hit hard by the pandemic and the collision industry is no exception. With a lot of us working from home, people were driving less and there has been a significant decrease in the number of car accidents.
As a result, many shops were forced to lay off their workers and even close their doors.
Fortunately, the Coronavirus Aid, Relief, and Economic Security Act (CARES) has provided some form of relief in the form of Employee Retention Credits (ERC). The ERC is a tax credit that helps keep businesses afloat and keep their workers on the payroll.
However, not a lot of collision shop owners know what ERC is and how to qualify for it.
Join Matt DiFrancesco and Ray Roth, Director of Disputes, Compliance, and Investigations with Stout, as they talk about what collision shop owners need to know about ERC and why they need to take advantage of it.
They also talked about:
- (03:20) How Ray got involved in the Employee Retention Credit Program
- (06:21) What are Employee Retention Credits?
- (07:54) How does a shop owner qualify for these?
- (16:35) What Ray thinks the ERCs are such a well-kept secret
- (17:31) One of the hurdles in getting business owners to apply for ERC
- (19:56) Why 99% of businesses took PPP over ERC
- (20:46) The importance of bringing in an outside expert to help translate what these programs are
- (21:28) One of the best referral sources for Stout
- (22:59) The next steps a shop owner should take if they’re interested in applying for ERC
- (27:12) What Ray wants people to understand about the legitimacy of their analysis
Connect with Ray Roth
Email: rroth@stout.com
Website: https://www.stout.com/en/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Ray Roth is the Director of Disputes, Compliance, and Investigations with Stout, a global financial and operation and advisory service firm. They work in a number of different industries like investment banking, they do valuations, right, transaction advisory, disputes, and compliance. And they have over 500 professionals and they have 26 offices worldwide.
Ray is a certified public accountant in the state of Michigan and a Certified Fraud Examiner. He's got 17 years of experience providing a wide range of professional consulting services.
He also works with federal regulators, compliance monitors, municipalities, board of directors, and business owners, and helps them to identify different casual events that may affect them, and also those events that may impact their business operations.
Ray got his bachelor's in Business Administration from Cleveland State. He is a member of the American Institute of Certified Public Accountants, the Association of Certified Fraud Examiners and he is the immediate past chairman of the Michigan Association of Certified Public Accountants Fraud Task Force.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
Recently, I was invited as a guest for the Virtual U.S. Financial Advisors podcast. The goal of this podcast is to help consumers have a better grasp of what financial advisors are for and understand the importance of having a trusted person to help them plan their finances.
In this episode, I walked the audience through the assessment process I use to identify my client’s major wants, needs, and concerns to help find solutions for their financial situations.
Today, I’d like to share with you the first of an eight-part series where I talked about why having a written continuity plan is crucial for every business.
I also talked about:
- (03:07) The approach that has given financial advisors a bad name
- (10:22) My vision statement
- (15:08) What is a written continuity plan
- (23:50) How long does it take to create a business continuity plan
- (25:36) Why I prefer to go for a retainer model
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
DISCLAIMER
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.
Threats come in many forms when you're a collision shop owner. There's the threat of competition, the threat of a struggling economy, and the ever-present threat of natural disasters.
But one of the most important threats to businesses is the possibility that the owners may one day need to transition out of their roles. Whether it's due to retirement, illness, or simply a desire to move on to new projects, business owners need to have a plan in place for how their business will continue without them.
That's where insurance comes in. A properly structured insurance policy can provide the financial security that shop owners need to know and that their businesses will be taken care of in the event that they're no longer able to run them.
Join Matt DiFrancesco and Alex Whittit, VP of Sales with Intrepid Direct Insurance, as they discuss how shop owners should be aware of threats they could face both personally and from a business standpoint, and how they should deal with them.
Alex talks about:
(03:06) What Intrepid Direct does
(06:51) Why insurance policies need to be reviewed year over year
(08:21) The biggest threats that shop owners face
(09:21) How shop owners should deal with cyber liability
(11:08) What is social inflation?
(12:41) Why insurance should be viewed as an investment
(18:45) Why body shops must do a business valuation and property appraisal every couple of years
(19:26) The importance of keeping an inventory of everything that’s in your shop
(20:48) The worst time to put your plans together and get insurance coverage
(21:26) The last thing you want to do from an insurance perspective
(22:58) Why it’s important to work with insurance companies who are well-versed in your industry
Connect with Alex Whittit
Website: https://www.intrepiddirect.com
LinkedIn: https://www.linkedin.com/in/alexwhittit/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Alex Whittit’s passion for helping business owners led him to a career in the commercial insurance industry. He began his journey in 2011 providing professional solutions for personal and commercial lines in both captive and brokerage agencies.
Today, Alex is the Associate Vice President of Sales at Intrepid Direct Insurance, a direct provider of business insurance. They utilize their expertise combined with technology to help create a greater client experience.
In his time away from work, Alex enjoys going to the lake, on the slopes, or cheering on the Kansas City sports teams.
The collision industry is facing a tech shortage. There are more retirements than new technicians entering the field. So what must collision shops do to attract new talents, stay in business, and remain competitive?
In today’s world, the shops that can get the best people, have the best culture, and retain and reward people working for them, so they become loyal, are the shops that will dominate the future.
Join Matt DiFrancesco and Mike Anderson, President - Owner at Collision Advice, as they talk about the challenges posed by the tech shortage the industry is experiencing and how growing your team business will change the way you compete in the world of collision repair.
Mike talks about:
(02:17) How his career evolved from owning multiple shops to starting a coaching and consulting business for collision shop owners
(03:25) What is a 20 group?
(05:13) One of the things that make his own shop unique
(08:53) The two ways you can grow your team
(10:35) Why do most shop owners find it hard to find the right people?
(11:28) What needs to change in the collision industry
(15:17) How flexibility can be interpreted in different ways
(19:11) What the current generation is looking for in a job
(21:06) Why we must understand that people are motivated differently
(27:08) Why shop owners need to make sure they’re treating their employees well
(33:18) Why does he believe that the collision industry is in an exciting time right now?
Connect with Mike Anderson
Website: https://collisionadvice.com/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Mike Anderson grew up in the collision industry. His father was an auto body technician, and he grew up spending his summers working with him. Mike joined the military after he graduated high school. When he left the military, he decided to return and work with his dad.
Then they had the opportunity to buy the body shop they were working for. They proceeded to buy the shop, and Mike ended up owning more shops in Alexandria, VA. Mike’s shops held numerous OEM certifications and were voted the #1 Collision repair business for 12 years in a row in the Washington DC, MD, VA area.
Today, Mike owns and operates Collision Advice, a full-service consulting company that offers all kinds of consulting and coaching to shop owners to help them progress to the next level. He is also considered one of the most-respected, experienced, and passionate experts in the collision repair industry.
Sink or swim? These are the choices that most collision shop owners face as they deal with the changes that are happening in the industry today. It’s either they learn how to swim with the tides to survive or they get frustrated, burned out, and decide to pack up and call it quits.
It’s easier to leave the business when you’re not passionate about it. This is what happens to some family-owned businesses where members had to assume roles that do not fit their personality type.
This is where your core genius plays an important part. Because if you can find the thing that you’re really good at and enjoy doing, you can build your business around that and have the passion to drive it to success.
So how does someone tap their core genius to help ensure that their business thrives?
Join Matt DiFrancesco and Louie Sharp, Business Consultant, Leadership Coach, International Speaker, Renowned Author, and Owner of Sharp Auto Body, as they discuss how uncovering your core genius can take your business to the next level.
Louie talks about:
(02:58) How he got into the body shop industry
(08:21) What core genius means
(09:05) A common mistake family businesses make
(13:42) How doing OEM required repairs increase a shop’s ARO (average repair order)
(17:04) What shop owners must do if they plan to stay in business
(21:29) Why those who believe the industry is at a technical standstill are falling behind
(23:11) Why great leaders are readers
(27:07) What shop owners must do to address the shortage of technicians
(30:37) How to determine if you’re doing a great job as a leader
(32:34) What women bring to the table
(37:10) The power of masterminds
Connect with Louie SharpWebsite: www.louiesharp.com
Facebook: https://www.facebook.com/louie.sharp
Youtube Channel: The Gifted Leader
Connect With Matt DiFrancesco:matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:Louie Sharp got into the body shop industry when his dad, an old body shop man, got him in a shop as an apprentice. When the shop owner said one day that he needed to make $50,000 more for that year but can't afford to give anybody a raise, Louie decided to start his own body shop.
Nineteen years later, Louie got frustrated as a body shop owner. He knew how to fix cars but knew nothing about running the business. He then started educating himself, went to classes, read books, take seminars, and hired coaches. That's how he started to really grow his business.
That gave him the ability to buy and sell other businesses. He started two other businesses from scratch. Then he realized that he has all this wisdom, real-world experience, and knowledge, and he wanted to share that and help people who are struggling.
Today, Louie Sharp is an International Speaker, Business Consultant, Coach, Renowned Author, and Owner of Sharp Auto Body. He has also been seen on NBC and ABC as well as delivering keynote speeches for distinguished companies such as DuPont, Edward Jones, Sage, Fender, and Axalta, and most recently shared the stage with Jack Canfield.
Most people say there’s so much in the collision repair industry that’s broken. There’s the issue of insurance companies demanding to use after-market parts to reduce repair costs without considering how it would affect the consumer’s safety. There are also concerns about the low enrollment rates at vo-tech schools causing a shortage of technicians coming in.
Unfortunately, the collision repair business has become a crappy business to work in. And as a result, the customer experience also suffers.
This is what Tom Bemiller observed as he got into the industry. Then he remembered a quote saying happy employees make happy customers. He thought if there was a way to create a better environment for the people working at the shops and improve the experience of fixing cars, then that will translate to a better experience for the customers.
Join Matt DiFrancesco and Tom Bemiller, Founder, and CEO of The Aureus Group, as they talk about why Tom thinks that the industry severely lacks leadership, what the five core values of his company are, and why he wants to be a catalyst for change in the industry.
Tom talks about:
(02:20) How he started his career in the collision industry
(08:17) What “repairing the repair process” means
(11:10) One of the biggest problems in the collision industry
(11:39) The importance of investing in personal development
(14:47) The culture you need to create to become the best company to work for
(18:14) The number one complaint they get from customers
(20:11) The Aureus Group’s five core values
(25:10) What it means to love what you do
(30:27) The challenges of being a leader
(31:33) Tom’s goals for the future
Connect with Tom Bemiller
Website: www.theaureusgroup.com
Email: tbemiller@theaureusgroup.com
(610) 256-1956
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Tom Bemiller doesn’t consider himself a car guy. He’s not particularly passionate about cars, he’s never fixed cars, and in fact, he doesn’t even own a car - he drives a rental.
He got into the auto repair industry by accident. At 14, he went looking for a summer job that is near his house and the only one that was willing to hire him was a body shop. He started sweeping floors until eventually, he realized that it was a pretty decent place to work in. He ended up spending a couple more summers and Christmas breaks working for that body shop.
After he graduated from college, he decided to work in the body shop again just until he could figure out what he wanted to do next in his life. While there, he got involved in a car accident. That's when the body shop owner asked him to take the car to all their competitors to see what the experience was like.
The project exposed him to the side of the industry he’s never seen before. He just couldn't believe how terrible the places and the service would be. This sparked his passion to fix things that need to be fixed in the industry.
Today, Tom Bemiller is the Founder and CEO of The Aureus Group, which serves as the management company for auto body shops located in Chester, Montgomery, and Delaware Counties in Pennsylvania.
Many business owners have no idea what the value of their business is. And when the time comes to sell their business, they base its price on how much they need to fund the next phase of their lives and not on what it's worth.
Having your business evaluated regularly is just one of the vital components of a successful exit strategy. Because to map out the path to exiting rich, you need to visualize your destination, determine where your starting point is, and begin with the end in mind.
In this bonus episode of Your Business, Your Life, join Matt DiFrancesco and Michelle Seiler Tucker, Founder, and CEO of Seiler Tucker Inc. and best-selling author of Exit Rich, as they discuss why 80% of businesses never sell, how business owners can fix their businesses and sell it for maximum value, and why planning for an exit strategy is beneficial to everyone who owns a business.
Michelle talks about:
(06:25) Why most businesses fail to sell
(08:04) How the GPS model works
(10:36) Why NOT having an annual valuation checkup is financial suicide.
(12:57) The 5 types of buyers
(18:14) Why you should go to an M&A expert for your annual valuation checkup
(22:10) Why you should always be building your business to sell, even if you don't plan on selling it
(27:45) Why do we have to treat our business as our most valuable asset?
(28:32) The value of having a mentor
Connect with Michelle Seiler Tucker
Website: https://seilertucker.com/
Book: https://exitrichbook.com/
Grab an audiobook copy of Exit Rich for only $2.99 and get all the supplements with the book plus a lifetime membership to the Exit Rich Book Club. This offer is only available for the month of May! To know more, go to the links below:
Exit Rich on Amazon
Exit Rich on Apple
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Michelle Seiler Tucker MAMI, CSBA, CMAP, CBB is the leading authority on buying, selling, and improving businesses and increasing a business’ revenue streams. She has personally sold over 500 businesses, and her company, Seiler Tucker Inc., has sold over 1,000. Michelle has been helping hundreds of business owners build scalable and sellable businesses for more than twenty years.
Michelle is also the best-selling author of the book “Think & Grow Rich Today”, and “Sell Your Business For More Than Its Worth”, and her latest book “Exit Rich” is available now for purchase. In addition to being featured in INC., Forbes, and USA Magazine, Michelle makes regular radio and TV appearances on Fox Business News and CNBC
When collision shops get bigger, they tend to focus more on the quantity of repair jobs. This causes the service they provide customers to suffer. As profits become the priority, everything becomes transactional and sometimes customers aren’t treated as if their business matters.
These are some of the things that Jacob Tilzer noticed while he was working for the larger companies in the collision industry. That’s why when he founded his own collision center, he wanted to provide the scale of an MSO (Multiple Shop Operators) but with the feel of a small independent shop in terms of providing a personalized experience for the customer.
Join Matt DiFrancesco and Jacob Tilzer, CEO of Kaizen Collision Center, as they talk about Jacob’s journey, why he chose the name Kaizen for his business, and his thoughts on the true meaning of superior customer service.
Jacob talks about:
- (05:30) How he got into the collision industry
- (07:44) What Kaizen means
- (14:49) Why shop owners should focus on the customer experience
- (15:55) What solidifies a lifelong customer relationship
- (18:14) The number one complaint they get from customers
- (19:26) The qualities they look for in shops that they plan to acquire
- (28:45) Why he wants people to fail as fast as possible
Connect with Jacob Tilzer
Website: https://www.kaizenautocare.com/
Email: jtilzer@kaizencollisioncenter.com
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Jacob Tilzer grew up around drag racing. He wasn’t necessarily a gearhead, but he knew cars. The family he’d grown up with had been in business as well which exposed him to running the business side of things at an early age.
While he was in junior high school, he attended his class in the morning, joined a vocational school for automotive in the afternoon, and worked two jobs in the evening. This served as his formal introduction to working in the automotive career field.
Jacob considers himself a growth-minded guy. Instead of asking for a raise, he would often ask for opportunities to show more of what he can produce and provide value for the company. He went from working for one shop to another where he was always able to max out his skill sets and abilities.
Today, Jacob Tilzer is the CEO at Kaizen Collision Centers, a 50-location MSO which prides itself on offering high-quality service and a worry-free experience for all its customers.
Automotive repair is a highly competitive industry. And with car technology advancing at an exponential rate, shop owners must be able to keep up in order to maintain a profitable business.
And one way to keep up is to make body shops go digital. Shop owners should look at their processes and find areas they can work on to improve not only the shop’s overall function but to strengthen customer relationships as well.
Going digital can be an overwhelming process for most body shops, yet it is now becoming a necessity in making auto repair businesses more efficient, profitable, customer-focused, and ready for the future.
Join Matt DiFrancesco and John Burkhauser, an Auto Repair Industry Specialist and the Director of Education at BOLT ON TECHNOLOGY, as they share their insights on the common challenges shop owners face, how automotive management softwares can help collision shops work smarter, and the importance of having social proof.
John talks about:
(03:07) How he went from studying meteorology to having a career in automotive tech
(04:48) The biggest challenge that body shops are facing today
(07:54) What most body shop owners and a drowning person have in common
(08:47) How he helps shop owners get up to speed with the changes in the industry
(10:45) The software solutions BOLT ON TECHNOLOGY offers to increase ROI
(16:31) Why body shops need to have an online presence
(18:25) How to find and keep qualified talent
(21:41) How implementing technologies can help create a better customer experience
Connect with John Burkhauser
Website: https://www.boltontechnology.com/
Connect With Matt DiFrancesco:
matt@highliftfin.com (814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
John Burkhauser’s dream was to become a meteorologist. But when he realized that he had to take up calculus and trigonometry to determine if it was going to rain that day, he knew was in trouble and ended up leaving school.
When his car failed the Pennsylvania yearly inspection, he wanted to know why. He bought a book, read through it, and it sparked his interest in car technology. He then went to tech school and became a technician. He worked his way up to become an A-tech, shop manager, service manager foreman, all the way to being an instructor for 10 years prior to joining BOLT ON TECHNOLOGY
Today, John Burkhauser is a highly sought-after industry thought leader, both in the US and in Europe. He currently serves as the Director of Education for BOLT ON TECHNOLOGY where he shares his life skills to show independent shops how to become successful by changing their service process for a better customer and shop experience.
For a lot of business owners, especially in the collision industry, “marketing” is a dirty word. It’s an added expense that most small shop owners consider a luxury. Yet nowadays, having a marketing strategy has become a necessity and is considered one of the most important key components to running a successful business.
And as the industry continues to evolve at a rapid pace, shop owners need to understand how they want to progress their businesses, and how to utilize marketing to help them create a family legacy and generational wealth.
Join Matt DiFrancesco and Micki Woods, a Marketing and Business Growth Strategist for the collision industry and host of the Body Bangin’ podcast as they discuss why investing in marketing can reap huge dividends down the road and how her experience as a body shop owner allowed her to apply marketing strategies that helped other shops accelerate their growth and increase revenue.
They discussed:
- (03:34) How Micki transitioned from shop owner to marketer
- (10:20) How Micki convinced shop owners to move to some modern, more effective marketing strategies out there. (13:09) Why Micki prefers to go for the low hanging fruit when it comes to marketing
- (15:27) Why shop owners should market their certifications (17:19) Why is there a big pushback with marketing (20:29) Educating consumers vs. being “salesy”
- (21:34) One of the benefits of hiring a marketing firm
- (21:58) New marketing tools that are changing the game
- (24:34) What is geo-fencing?
- (28:43) Matt’s bad experience with a marketing company
- (29:22) Why the “set it, forget it” strategy doesn’t work
- (30:29) Why having too many clients now is not a reason to skip marketing
- (31:34) The best time to market
Connect with Micki Woods
Email: Micki@Mickiwoodsmarketing.com
Phone: 805-857-6310
Website: www.MickiWoods.com
www.Collisioncentermarketing.com
Podcast: https://mickiwoods.com/body-bangin/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Micki Woods is a lover of businesses. So when the owner of the collision shop that her ex-husband manages decided that he wanted to sell the business, Micki offered to buy it from him. For 3 years, she managed the owner's side of the business while her ex-husband continued to manage the shop. But when the recession happened, she decided to sell the business. Unfortunately, her landowner made it difficult to sell it to the new owner. So the new owner ended up offering her a job to work as his marketer instead. For the next 5 years, her efforts helped increase the shop’s sales from $600,000 up to $750,000 - $1M a month. When the shop owner passed away, Micki went independent and started doing marketing jobs for body shops across the US and into Canada. Today, Micki is an Auto Collision Industry Marketing Specialist and host of the Body Bangin’ podcast, where she discusses all things Body Shop and Marketing related. She’s also a writer and contributor to industry publications for body shop businesses. Micki has also been nominated recently as one of the most influential women in the collision industry.
Disputes between insurance companies and collision repair shops are not uncommon. From errors with estimates, repairing parts vs. replacing parts, to choosing the right type of replacement parts to be used.
Unfortunately, a lot of shop owners think that they need to agree with whatever the insurance agents say because otherwise, they will lose business.
But who is it that the body shops really work for? Is it the insurance companies who will keep cars running through their shops? Or should they be, first and foremost, looking out for the car owner’s best interest?
Join Matt DiFrancesco and Clay Hoberecht, Owner of Best Body Shop, as they talk about why Clay thinks that the auto repair industry has gone upside down and inside out in terms of who the body shop truly serves, and how having the right culture for your team helps to shift the focus on what really matters.
Clay talks about:
(07:58) What’s it like to be a pro-consumer guy
(08:22) How he realized the importance of social media
(09:01) How Barrett Smith influenced his life
(14:48) The idea behind creating a culture that’s humble, hungry, and smart
(17:12) Why building a culture that’s based on love is one of the hardest things you can overcome
(24:53) How failures encourage innovation
(26:16) Why does he most depressed when he hits a goal?
(27:15) Why does he think that running a collision repair business today is 100x easier than it has ever been?
(31:38) One of the things that is missing in the auto repair industry today
(34:21) Why there’s a lack of trust and respect in the industry
Connect with Clay Hoberecht
Website: https://www.bestbodyshopinwichita.com/
Facebook: https://www.facebook.com/BESTBODYSHOPINWICHITA/
Instagram: https://www.instagram.com/best_body_shop/
Youtube: https://www.youtube.com/channel/UChCO2bdT8mfsstfv9_pZvZQ
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Clay Hoberecht first got into the industry 20 years ago, as a technician. He started from sweeping floors to cleaning cars and worked his way up. After several years, he realized that as much as he loved working on cars, he also wanted to put up his own shop and become an entrepreneur.
After spending some years as a shop owner, he’s learned a lot about how things work in the collision repair industry and came to the conclusion that the system is broken and some things needed to change. He challenged the way insurance companies worked and encouraged body shops to fight for the correct way of repairing vehicles and put the car owners and their family’s safety first.
Today, Clay is the owner of Best Body Shop in Wichita, KS. They focus on providing outstanding customer service by maintaining a culture of being Humble, Hungry, and Smart. They are driven to create not just satisfied customers, but a family of rabid fans through their commitment to excellence.
For collision shop owners who spend years getting too involved in running their business, there often comes a time when they find themselves having no idea which direction to take moving forward. And they realize they don’t have a clear vision of what they want their business to become in the future.
It doesn’t matter which industry we’re in, all businesses have common goals. One of these goals is to be able to sustain the family and make enough money to support a great life. And the way to get there is pretty straightforward. We just need to understand the path and create a plan around it.
Join Matt DiFrancesco and Mitch Russo, Business Growth Strategist, best-selling author, and two-time nominee for Inc. Magazine’s Entrepreneur of the Year, as they talk about how Mitch uses his experience and insights to guide clients where they want to go, and why identifying yourself as who you are and not by what you do, matters.
Mitch talks about:
- How to help clients clarify their vision for their business and lives
- The importance of finding your true core passion
- Why business owners need to create multiple recurring paths to profitability
- Why intellectual property can sometimes be more valuable than the business itself
- How identifying yourself by what you do can be a false identification
- Why most people struggle with identifying WHO we are
- Why he believes that humans are designed as problem-solving machines
- The value of knowing in advance that we all must have goals
- What the book, “Power Tribes” is all about
- Why he prefers not to work with beginners
Connect with Mitch Russo
Website: mitchrusso.com and mitchrusso360.com
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
When Mitch Russo decided to release the software product he and his partner painstakingly built for 9 months, they realized that the market had changed and the fruit of their labor no longer had value. Yet, they used the base of the technology they created and pivoted into a much larger market. What looked like a disaster at first, turned out as a blessing and led to enormous success. This is why when they sold the company, he ended up selling it for eight figures.
After that, he went on to work with Tony Robbins, and Chet Holmes, who are big guns in the personal development industry. More than 30 years later, he is now considered as one of the heavy hitters in the industry as well. As a business growth strategist, Mitch has helped everyone, from NFL stars to CEOs, pretty much anybody who wants to rapidly accelerate the growth of their business.
Today, Mitch is a speaker, consultant, serial entrepreneur, podcast host, and investor. He's been nominated twice by Inc Magazine as Entrepreneur of the Year. He is also the best-selling author of two books, The Invisible Organization and Power Tribes: How Certification Can Explode Your Business.
Many shop owners are great technicians yet most struggle with the “entrepreneurial” side of their business. Terms such as “building a brand” or “brand awareness” often sound foreign to them.
So what does “branding” mean? How important is it to build a brand and a community along with it? And how will it help your business grow and survive the changes that are happening in the industry?
Join Matt DiFrancesco and Jeff Gargas, COO and Co-Founder of Teach Better Team, as they discuss why building a strong brand and a strong community goes hand in hand, and how small steps and changes can lead to incredible results in time.
Jeff talks about:
- What does “building a brand” mean?
- The main goal for your brand
- The key that will allow small businesses to compete with the big guys
- The importance of building a community that will support your brand
- How will shop owners get over that “paralysis of analysis”
- Why do those who decide not to fight changes end up as winners?
- The value of educating your customers
- Why you should avoid having a “scarcity mindset”
- Why it’s not always about building a massive company
Connect with Jeff Gargas
Website: https://www.teachbetter.com/
Twitter: @jeffgargas
Instagram: @_jeffgargas
Tiktok: Jeff Gargas
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Jeff Gargas is an entrepreneur, author, and speaker. He's spoken at numerous conferences around the country, he's successfully promoted more than 500 events, and he's launched seven businesses in a variety of industries.
He was also the owner of ENI Multimedia, which is an online marketing firm that helped entrepreneurs and small businesses with web design, social media content, and brand awareness.
Today, Jeff Gargas is the COO and Co-founder of Teach Better Team, which are the creators of Teach better.com, The Grid method, and Teach Further. He's also the co-author of the book, Teach Better.
He works with educators to increase student engagement, and improve student success. And he also offers one-on-one coaching to teachers who have a product or an idea that they think can enhance the student's education.
The auto repair industry is facing several disruptive trends nowadays. With the rapid advances in automotive technology, the challenges it presents are poised to transform the industry for years to come.
What must an auto repair shop owner do if they want to ensure that their business survives and thrive in the future?
Join Matt DiFrancesco and Frank Terlep, CEO of Auto Techcelerators, LLC., as they share their thoughts on the ever-changing needs of the auto repair industry and Frank’s insights, as a disruptor himself, on how collision shop owners should deal with these disruptive trends, and what the future could look like for the collision industry.
Frank talks about:
- How he got started in the collision industry
- What are the disruptive trends that are affecting the industry today
- What should auto repair shop owners think of in this market, if they want to continue their business
- Where to find tech-savvy talents for your collision repair business
- The number one challenge for the collision industry
- One of the biggest growth areas in the auto repair business
- Why body shop owners should start thinking about building their own, separate calibration business
- Other opportunities that independent shop owners should be looking at
- Why he thinks specialization will be a huge thing for the collision industry
- The caveat when it comes to OEM specialization
- How the Test Drive CoPilot™, ADAS CoPilot™, and Calibration CoPilot™works.
Connect with Frank Terlep
Website: https://www.autotechcelerators.com/
Phone: 855-953-7483
Mobile: 619-318-9856
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Frank Terlep has worked in the industry for 40 years. He's been at the forefront of automotive collision technologies since the mid 80s.
He developed one of the first software applications for the automotive aftermarket industry. And since then, he's developed a number of different softwares including, the industry's first Windows-based estimating and management system, the first online parts procurement platform, the first mobile app, digital marketing platforms, as well as the industry's leading remote scanning and calibration software platform.
Today, Frank is the author of the new book, “Auto Industry Disruption, Who and What is Being Disrupted and What to Do About it” where he talks about the trends and technologies that are disrupting the automotive industry and how people can adapt to the changes so they end up as winners.
He has also developed Test Drive CoPilot™, a new platform that will change the way test drives are performed, managed, and documented forever, and Calibration CoPilot™, the best way to manage and document ADAS calibrations.
Business owners should be able to enjoy the full benefits of the business that they’ve built. And that includes the life that they plan to live once they decide to sell shop or exit the business.
Yet, strategizing how to sell a business can be an overwhelming task. And without fully understanding what their business is worth, most collision shop owners end up feeling lost. That is why many shop owners today are in desperate need of trusted help and guidance with the process of selling their shop.
Join Matt DiFrancesco and Laura Gay, Owner/Consultant/Coach for Consolidation at Consolidation Coach, as they share their thoughts on the many challenges that collison shop owners face today, and how Laura’s experience allowed her to assist business owners in getting the maximum returns for their business and help them realize the next chapter in their lives.
Laura talks about:
- How her career journey led her to become a coach
- What should shop owners consider in determining the value for their business
- Why she thinks independent shops are not going away
- How to make family takeovers transition smoothly
- How a change in mentality is vital to those who plan to continue running their shop
Connect with Laura Gay
LinkedIn: Laura (Schwein) Gay
Email: laura@consolidationcoach.com
Phone: 301-399-8675
Website: www.consolidationcoach.com
Connect With Matt DiFrancesco:matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Laura Gay is a first generation body shop girl. At 19, she worked for a car dealership selling cars. She then realized that it wasn't her thing so she transferred to their collision center. Through hard work, determination, and her focus on process improvement, she became a manager and increased their sales from $1.5M to $3.5M within a year.
When she wanted to start a family, she felt that she wouldn’t be able to keep up with her career in the collision center. She decided to make a shift and work for an insurance carrier. For the next 15 years, she continued to work for different insurance carriers and was able to expand her network.
Laura acquired her first collision center in her mid-30’s. The shop was failing when she bought it but she was able to turn their annual revenue to $6M. She eventually sold the store and bought another one a couple years later. This led her to learn more about mergers and acquisitions.
Today, Laura uses her experience to help collision shop owners who are in the process of selling their business, understand what their business is worth, how to get a higher valuation for their business, when is the best time to sell, and guide them to make informed decisions on which direction to take.
They say most auto repair shops have been stuck in a rut for far too long. They’ve been fed the information that the insurance industry wants to feed them. Sadly, this situation still goes on today. And with all the misinformation that the collision industry has to deal with, some shop owners have resorted to less than ethical methods just to survive.
Collision shop owners should start acting as the customer’s advocate and it is their duty to inform their customers what is best for them. And as automobile technology continues to evolve, it is their responsibility to step up their game, not only for their abilities to be recognized and that they start getting paid fairly, but also for their customers to get the highest level of repair - for their peace of mind.
Join Matt DiFrancesco and Barrett Smith, Founder and CEO of Auto Damage Parts, as they share their insights on the automotive industry today, and how Barrett is helping shop owners become more effective and profitable through his experience both in the collision industry and the insurance industry.
Barrett talks about:
- The biggest problem that collision repair shops face today
- The best thing that happened to the auto repair industry
- How can shop owners address the challenges in managing their cash flow
- How to run a profitable business that can sustain itself
- The advantage of using technology
- How can independent shop owners stay independent
- The importance of getting pricing structures up to date
- Why collision shop owners should stop taking advice from people who owe them money
Connect with Barrett Smith
Linked In: https://www.linkedin.com/in/barrett-smith-aam-34b819/
Email: barrett@autodamageexperts.com
Website: www.autodamageexperts.com
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Barrett Smith grew up in a family-owned collision center. After serving the US Air Force, he got into another collision shop. He then went into the insurance industry where he learned the different aspects of the claims processes. Several years into the role, he decided to return to the collision industry and started his own shop. He utilized his knowledge in the effective operational practices in the auto repair industry and in the insurance company practices to best manage his shop, making it grow tremendously. Thus, it earned the title of a “top shop”
In 1993, Barrett started Auto Damage Experts, which is recognized by legal professionals, local and state governmental overseers and corporations, as well as the individual consumers as the “go-to” for people to get assistance in the different challenges they face in that area. He's a frequent contributor to a lot of the industry publications, sharing a lot of the best practices he's learned over as many years of experience.
In addition to providing appraisal and vehicle valuation services across the nation, Barrett also does consulting and coaching for collision shops to help make them more effective and more profitable. His goal as an industry speaker and coach/consultant is to educate professionals and consumers to achieve successful resolutions to automotive-related property damage issues.
Hello everyone, welcome to Your Business, Your Life and I hope you’re off to an awesome start this 2022. January, being the first month of the new year, is a good time to re-evaluate and re-assess the things that are going on in our lives and in our businesses as well.
And as we start putting plans in place to accomplish the things we want to achieve this year and the years to come, I thought this is also the perfect time to share 3 areas that every business owner, especially collision shop owners, should look at the start of this new year.
In this episode, I also talked about:
- The big problem most collision shop owners are facing today
- What can business owners do to address deficiencies in their cash flow
- The different strategies for mitigating taxes this 2022
- Why it’s a good idea to begin thinking about how are you going to transition the business
- The importance of planning ahead
Every new year presents different kinds of challenges. But if you have a proper mindset and a well-thought-out plan in place, you will be ready to face these challenges head-on. If you need help in navigating through the financial trials in your life, feel free to reach out to me at www.highliftfinancial.com.
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
A lot of collision shop owners are excellent technicians. However, most of them are less skilled as business owners. And while there are a lot of resources when it comes to the technical side, there aren’t as many resources for the entrepreneurial side of the business.
As the automotive repair industry changes rapidly, with the emergence of hybrid and electric, more sophisticated, modern cars, how can the independent collision repair shop owner ensure that his business survives and thrives well into the future?
Join Matt DiFrancesco and Bob Miller, Independent Automotive Trainer at Train Them Now, LLC, as they talk about what’s going on in the automotive industry today, and how Bob is helping shop owners become better business owners through his training.
Bob talks about:
- Why he spends a lot of time talking about profitability in his trainings
- The importance of making repeat customers
- One of the biggest challenge independent shop owners face today
- What can shop owners do to help entice their technicians to stay
- How can independent repair shops continue to move forward as the industry moves forward?
- Can retirement plans be considered as an incentive for shop employees?
- The advantage of bringing in younger technicians
- How do you grow your own talent?
- Why having a lucrative career doesn’t always require a college degree
- The three things shop owners must do to thrive in the coming years
Connect with Bob Miller
Linked In: Bob MIller
Email: trainthemnow@gmail.com
Phone: (610)505-7561
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Bob Miller’s career spans 34 years. He began in repair facilities, from independent shops to dealerships as well. About 15 years ago, he decided to start his own company. He also started training people which has proven to be a success.
Today, Bob has become a specialist in automotive training, which covers management profitability, customer service or technical in nature. Bob has developed online, classroom, and hands-on training. His style is to conduct and supervise training in a way that enhances the student's productivity and quality of work to meet the rapid pace of change in the automotive repair industry.
Bob loves to teach because he enjoys “seeing the light bulb go on” in his student’s eyes when they pick up a concept or learn something new. He currently has a following of people from across the country, which has encouraged him to continue doing what he does to this day.
Like most beginnings, the new year brings hope and opportunities to make things better. That is why this is the perfect time people make resolutions and plans for the rest of the year.
Yet sometimes, no matter how much effort we put into goal planning, it’s often the execution part that most people struggle with and ultimately fail at. And what keeps us from making our plans happen usually stems from our own minds.
In this episode, join Matt DiFrancesco and Kim Ades, President and CEO of Frame of Mind Coaching and The Journal That Talks Back, as they discuss how journaling helped her clients shift their mindsets, and why working on mindset, before anything else, is the key to achieving goals that lead to extraordinary success.
Kim talks about:
- Why she decided to start her own coaching business
- How her journaling methodology helped her become an effective coach
- Why creating the proper mindset is the foundation to a client’s success
- The value of re-organizing responsibilities
- What is the “dump, dump, then dump the dump” process?
- How “The Journal That Talks Back” works
- Why she doesn’t do in-person or zoom coaching sessions
- The first question you should ask yourself when you’re struggling with something
- What is a great journaling prompt?
Connect with Kim Ades
Linked In: Kim Ades
Email: kim@frameofmindcoaching.com
Websites: www.frameofmindcoaching.com and www.thejournalthattalksback.com
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Kim Ades is a serial entrepreneur. She ran a party decoration business at 20 years old, then later owned a software company. Ten years later, she was hired by a local coaching company, where observed something lacking about how they coached and thought there had to be a better way. That’s when she decided to start her own company.
Today, Kim is the founder of Frame of Mind Coaching for executives, and The Journal that Talks Back, an unlimited accessible coaching and journaling app for professionals. She is recognized as a pioneer in the field of leadership, coaching, and thought mastery, and she uses her unique philosophy and her quirky coaching style to help leaders identify their personal blind spots and shift their mindsets to yield extraordinary results.
She’s also an author, public speaker, and a mom of five. Kim's claim to fame is her powerful coaching process for leaders, executives, and entrepreneurs worldwide.
If you were asked the question: Why did you build your own business in the first place? What would your answer be?
A common response would be to enjoy the freedom and flexibility of being an entrepreneur. Yet, as the business grows, many business owners spend more time working and have less time for family, relaxation, and personal growth.
In this episode, join Matt DiFrancesco and Pete Mohr, a Certified Business Coach, Entrepreneurial Speaker, and host of the Simplifying Entrepreneurship podcast, as they talk about why business owners should focus more on working ON their business so they can live the life they’ve always wanted.
Pete talks about:
- Why you should never lose track of the reasons why you started your business
- Your primary job as a business owner
- Why do you need to set up your business so it can run by itself
- What can you do to free yourself up mentally from the daily grind of your business
- What business owners don’t realize about their management team
- How it’s like to live in your “genius zone.”
- What holds entrepreneurs back
- The importance of having the right butts in the right seats
- Why do leaders need to identify their strong and weak points
- … and more
Connect with Pete Mohr
Linked In: Pete Mohr
Instagram: petemohr_coach
Email: peter@shoetopia.ca
Website: https://simplifyingentrepreneurship.com/
Listen to his podcast: Simplifying Entrepreneurship.
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:Pete Mohr has been a lifelong entrepreneur. He has owned and operated businesses in service, trades, and retail. He’s also used franchise and independent businesses and fully understands the ups and downs of both systems.
Despite owning multiple businesses, Pete still enjoys a good life and has excellent relationships with his family and friends. He believes that entrepreneurs can set their businesses up in a way that will allow them to get what they want out of their lives. He wants them to have less stress, feel healthy, both mentally and physically, and to be able to live their mission through their business.
For Pete, entrepreneurism is his life, and he loves talking about it through coaching and podcasts. He considers this a big part of what he does and who he is.
The pandemic has undeniably changed our lives on so many levels. Aside from its devastating effects on global health and the economy, it has taken an enormous toll on people’s mental health as well.
A lot of family business owners today deal with mental health issues. Unfortunately, most of them choose to ignore it because they’re not really equipped to deal with it, or worse, some don’t even recognize what it is.
In this episode, join Matt DiFrancesco and Michelle E. Dickinson, a Workplace Mental Health Strategist & Consultant, and TEDx speaker, as they talk about how to identify these invisible disabilities in the workplace, and what toolsets business owners can use to help their employees/family members get help with their mental health issues.
Michelle talks about
- How having a bipolar mother made her become a mental health advocate
- What led her to write her memoir
- Her advice to business owners who are dealing with family members or employees with mental health issues
- How many Americans are dealing with depression and anxiety today
- Why we should stop comparing ourselves to others
- The value of bringing somebody in who can help with our mental health
- Where to go find mental health support
- Why mental health has nothing to do with mental toughness
- How being vulnerable can open up your leadership abilities
- Why it’s important for business owners to be open about their mental health issues
- ...and more
Resources:
National Alliance on Mental Illness
Psychology Today
TalkSpace
Connect with Michelle E. Dickinson
Linked In: Michelle E. Dickinson, MM
Instagram: @michelledickinson71
Website: https://careforyourpeople.com/
To get a FREE chapter from Michelle’s book, Breaking Into My Life, go to:
https://breakingintomylife.com/ then go to Excerpt.
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Michelle E. Dickinson grew up with a mother who had bipolar disorder. The years she spent taking care of her mom gave her a deeper understanding of what it’s like to love someone with a mental illness and how challenging it is. Eventually, she found herself sharing her story and realized its power to open up a narrative and make other people feel less alone.
While working for a Fortune 500 company, Michelle had the opportunity to lead a mental health employee resource group. Her experience taught her what it takes to shift culture and what can be done to create stigma-free environments in the workplace. Years later, she decided to leave the corporate world, start her own company, and be the difference she wants to see in the world.
Today, Michelle works as a Workplace Mental Health Strategist & Consultant at Trifecta Mental Health. She provides interactive workshops to help recenter employees with their emotional and mental well-being. She wrote her memoir, Breaking Into My Life, to help people better understand the word of mental illness and she hopes that the story will help those who suffer become more understood, treated, and accepted.
In recent years, technological innovations in the automotive industry have revolutionized the way people drive. Advanced systems like automatic braking and cruise control are now being integrated into modern vehicles with the goal of making driving easier, safer, and more convenient.
However, ensuring that these systems work properly is no easy feat. Few repair shops are actually equipped to do the calibrations needed to keep these modern vehicles up and running. So how will small, independent repair shop owners keep up to speed in this rapidly changing industry?
In this episode, join Matt DiFrancesco and Jake Rodenroth, former Director of OEM and Industry Technical Relations at asTech® as they discuss where the future of the automotive industry is headed and what independent collision repair shops need to do to help face the challenges that come along with it.
Jake Rodenroth talks about:
- His advice to young people who are going into the domestic trades
- The most amazing place that helped shape who he is today
- Why the collision business should start offering community clinics
- What the automotive repair industry should do a better job of
- The biggest challenge that independent shop owners are facing
- The value of creating a better customer experience
- The most important question he asks his customers
- Why he thinks communication is a big key to a shop’s success
- The book that changed his outlook on how to deliver service
- ...and more
Connect with Jake Rodenroth
jakerodenroth@yahoo.com
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Jack Rodenroth started working on cars with his dad at a very young age. At 18, he became a technician with Mercedes Benz. After some time working on the mechanical side, he then spent the next 13 years working for Osteen Auto Body. He helped the company become a Jaguar and Land Rover structural aluminum certified facility in 2004.
Jake was responsible for OEM relations and certified collision network procurement programs at asTech®. He worked with different companies to create awareness and build a curriculum about diagnostics in the collision space. He also works with groups like SCRS and Collision Advice to help educate the industry on constantly changing vehicle technology.
It’s every business owner’s goal to achieve a life of prosperity. To some, being prosperous means not having to worry about the money to pay the bills. For others, it’s having the time to enjoy life at their own leisure. Every person may have their own definition of the word. But what does it mean to be truly prosperous?
More than just financial wealth, prosperity should also be embodied in other key areas of your life: mental, physical, and spiritual. By optimizing your well-being in all these areas, you can achieve your full potential and as a result, be able to live the best life you can ever imagine.
In this episode, join Matt DiFrancesco and Dr. Jay LaGuardia, CEO and Founder of TriplePLife and PowerPassionProsperity, LLC, host of the Power Passion Prosperity podcast, and author of the Amazon bestseller - Change Your Mind, Change Your Destiny, as they discuss how to have a mindset for success so you can ignite your passion and accelerate your way to prosperity.
Dr. Jay talks about
- The most important sheet of paper in your business
- The reason why he eliminated all media from his life
- Why it’s important to identify and understand your own belief systems
- Why all business owners should work on their morning routine
- Is it really hard to change your mindset?
- The pain of sameness vs. The pain of change
- What meditation really is
- How much of your revenue should you be investing in your personal development
- The benefits of being authentic
- The tone scale of energy
- ...and more
Connect with Dr. Jay LaGuardia
https://www.powerpassionprosperity.com/
To listen to his podcast, go to
https://www.powerpassionprosperity.com/episodes/
Facebook: Dr. Jay LaGuardia
Instagram: drjaylaguardia
Email: drjay@tripleplife.com
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Dr. Jay LaGuardia is a successful chiropractor, entrepreneur, consultant, and a lifelong leader in the fields of physical fitness, nutrition, wellness, neurology, neuroscience, brain function, and the habits of success.
He's been working for 25 years in the chiropractic business and has ventured off into other business dealings, commercial real estate, and business development as well. He’s also a highly sought-after keynote speaker where he focuses on sharing his strategies to build a better business and life with people from all over the world.
One of the biggest challenges for family businesses, especially in the automotive repair industry, is that when they look to transition their business and move to a different part of their life, they don’t have a plan in place for it. And in most cases, these are the businesses that end up failing.
Some family business owners intend to hand over the business to the next generation. However, when the younger generation doesn’t want to take over the business, they are left with no choice but to sell it. And without proper planning, most of these businesses end up being sold for pennies on the dollar.
In this episode, join Matt DiFrancesco and Michelle Seiler-Tucker, Founder and CEO of Seiler Tucker Incorporated and author of WSJ & USA TODAY Bestseller EXIT RICH as they discuss how you can build a sellable asset and be able to sell your business for a huge profit.
Michelle talks about:
- How to monetize our businesses when we need to have an exit plan
- Common mistakes in building a business that we can possibly sell in the future
- The worst time to sell a business
- How does the GPS model work?
- Why NOT having an annual business valuation is like financial suicide
- The 5 types of buyers
- The 6 P’s of a business’ infrastructure
- Why you must design your processes around your customer’s experience
- Customer diversification vs. customer concentration
- Why the lack of profits is NEVER the problem
- ...and more
Connect with Michelle Seiler Tucker
https://seilertucker.com/
To get a copy of Michelle’s Exit Rich book, go to
https://exitrichbook.com/
LinkedIn: Michelle Seiler-Tucker
Twitter: MSeilerTucker
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Michelle Seiler-Tucker has been in the mergers and acquisitions business for a little over 20 years. Her firm Seiler-Tucker Inc. has helped to sell over 1000 different companies in various industries. She is highly successful, closing 98% of the deals she handles and on average, she gets 20%-40% more on the sale than what her clients ask for.
Michelle is also the Best-Selling Author of the book “Think & Grow Rich Today”, “Sell Your Business for More Than it’s Worth”, and her latest book “Exit Rich” is available now for purchase. She has been featured on INC., Forbes, and USA Magazine, and she makes regular radio and TV appearances on Fox Business News and CNBC.
The changes that the automotive repair industry is going through have made it very challenging for a lot of shop owners and technicians. The idea of going up against the big MSO’s (multi-shop operators) is making these business owners consider giving up and selling their shop.
However, these are limiting beliefs and small repair shop owners still have some edge over their formidable competitors. This is why instead of having the “I can’t” mentality, it’s important to be in your right mind and transform your thinking to ensure your business’s success.
In this episode, join Matt DiFrancesco and Rick Selover, Collision Industry advisor, motivational coach, and host of the Mind Wrench Podcast as they discuss the value of investing in personal development and how it can reshape the way you do your business.
Rick talks about:
- The book that sparked his obsession with learning more
- The biggest challenges auto repair business owners are facing
- What are the opportunities independent shop owners have today
- Why customer experience is everything
- College vs.trade school
- His advice for future generations who want to take over the family business
- ...and more
Connect with Rick Selover
https://rickselover.com/
The Mind-Wrench Podcast
https://rickselover.com/services/
Collision Mastermind Facebook Group
https://www.facebook.com/groups/301242130992782
LinkedIn: Rick Selover
Connect With Matt DiFrancesco:matt@highliftfin.com
(814)201-5855
https://highliftfinancial.com/
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Rick Selover has been in the automotive repair and collision business for 45 years. He started working as a teenager in a body shop, sweeping floors and helping painters until he became a painter himself. He has painted everything from electrical boxes to fighter jets. Eventually, he jumped into the sales side of the business and became a sales manager.
As much as he loved what he was doing, Rick knew that he can’t be a painter forever. So for the past few years, he got into self-development. He then started his own podcast: The Mind-Wrench so he can share his experience and insight on mindset and self-improvement with anyone looking to reach their next-level life.
Tune in now to discover how to overcome challenges in the industry and how you can ensure your business’s success by working on your mindset and getting rid of your limiting beliefs.
More often than not, business owners get buried in the grind of things which can make it difficult to see what could go wrong. Unfortunately, they only realize what they’ve overlooked when the problems start to arise right in front of them.
In this episode, join Matt DiFrancesco and Aric Johnson, President & CEO of AXIS Coaching and Consulting, Voice Talent at ProudMouth & Host of The Real F.B.I. Podcast, discuss how looking at a business from a unique perspective is crucial to a business’s success.
Aric talks about:
- How Aric’s experience in Boys Town led him to a career in coaching
- Why people should consider their business as a vocation
- Why working harder can be counter-intuitive
- The things that hold business owners back from success
- The value of working with a mentor/coach
- How Aric’s faith is helping him in his business
- ...and more
Resources:
Axis Coaching and Consulting
https://axiscoaching.net/
The Real F.B.I. Podcast
https://therealfbi.blubrry.net/
Connect With Aric Johnson:
https://axiscoaching.net/
LinkedIn: Aric Johnson
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Aric Johnson is a business coach, podcast coach, and producer. His 15 years of experience with teaching, coaching, and consulting has led him to start a coaching program with one focus: Help Christian business owners grow in every area of their business, personal life, and spiritual life.
As the CEO and President of AXIS Coaching and Consulting, he works with small businesses from all walks of life. He is also the VP of Advisor Development at Christian Wealth Management where he works with men and women of God who choose to stand on Biblical principles in their businesses. In addition to that, he also works as a voice talent for Top Advisor Marketing where he is able to use his God-given gifts to help give a voice to advisors nationwide.
Have you ever dreamed of packing up your family and heading across seas? Or maybe your work is already taking you there! Whatever the case, it is vital for you to understand what is going to happen with your finances when you make the move. In this episode, Matt DiFrancesco is joined with Jennifer Patterson, … Continue reading 34. Cross-Border Wealth Management With Jennifer Patterson →
When it comes to costs to your business, healthcare plans can have some of the biggest impacts. You need to be sure that you are creating plans that are going to benefit your employees, while also making sense financially. In this episode, Matt DiFrancesco is joined with Kimberly Volk, small business consultant at The Health … Continue reading 33. The Biggest Cost To Employers – Healthcare Plans With Kimberly Volk →
As a business owner, it is not unlikely that your operations are always on your mind. It has been proven that taking a step away from what is happening in your business can actually help you come back and be more productive. Today, Matt DiFrancesco discusses the importance of renewal time – taking time to … Continue reading Episode 32 – The Purpose of Renewal Time →
As a business owner, it can be tough to find the right candidates for an open position. Luckily, there are people out there who aim to assist you in combing through the unqualified candidates to find the perfect fit! Today, Matt DiFrancesco sits down with Stephanie and Duane Roberts, owners of Humans Being Resources, as … Continue reading Episode 31 – Why Might You Consider a Recruitment Firm? – with guests Stephanie and Duane Roberts →
Matt has had the opportunity to work with countless business owners, and has been able to recognize 4 main qualities that ensure their business success. Today, Matt DiFrancesco discusses the qualities he sees in the business owners he works with that ensure their business runs smoothly. Matt takes the time to go into depth about … Continue reading Episode 30 – Creating an Entrepreneurial Mindset →
You have heard about our rebrand, but why did we choose to target the niche of the auto repair industry? Today, Matt DiFrancesco lets you in on the decision process to rebranding to High Lift Financial. Matt shares some of the issues that business owners in the auto industry face, and how High Lift Financial … Continue reading Episode 29 – Why the Auto Repair Industry? →
DiFrancesco Virtual Family Office is changing, and we want you to be the first to hear! Today, Matt DiFrancesco has some exciting news to share with you – DiFrancesco Virtual Family Office is getting a rebrand! Matt shares what this rebrand involves and what the changes mean for him and his clients! In this episode, … Continue reading Episode 28 – We Have Exciting News →
Deciding to move your parents or loved ones into assisted living can be tough, but when you have help from a professional, these decisions can be made easier. Today, Matt DiFrancesco is joined with Eileen Graham, founder of EG Associates Group, as they discuss the work that EG Associates Group does to help families during … Continue reading Episode 27 – Assisting You with Elderly Care Decisions – with Guest Eileen Graham →
When you work with DiFrancesco Virtual Family Office, we want to be sure that you are always on track with your finances and financial goals. Today, Matt DiFrancesco discusses the three step process that he goes through with clients to ensure that they are set up to meet their goals and address any problem areas. … Continue reading Episode 26 – Our Three Step Review Process →
When operating a business, do you know when it’s time to start succession planning? How do you know that everyone in your family is being taken care of properly? Today, Matt DiFrancesco is joined with Jim & Molly Creenan as they discuss the topic of what happens when it comes time to plan for the … Continue reading Episode 25 – Planning for Your Business and Family Future →
The New Year is a time when most people evaluate their lives and look to make changes. If you were asked if you would like to grow your business by 25 to 50% this year, what would your answer be? Now, what if you were asked how you were going to do that? If you … Continue reading Episode 24 – Starting 2021 Right Without ‘Head Trash’ →
This New Year, think about how you are going to take better care of yourself, because you deserve it! Today, Matt DiFrancesco joins Emily Mahler, founder of Wellness for Generations, LLC., to talk about how you can lead a healthier lifestyle, and overcome the common challenges that stop you from developing lasting changes! In this … Continue reading Episode 23 – Why It’s Time To Prioritize Your Health – With Emily Mahler →
A better financial business strategy can set your business, your employees, and your family up for a successful future. In this episode, Matt DiFranceso is joined with guest Kate Seastone, as they uncover how business planning and business strategies can get you on the right path to reaching your goals toward retirement. In this episode, … Continue reading Episode 22 – Advanced Business Planning Strategies – with Guest Kate Seastone →
In a family business, it is important to develop a team-oriented mindset in order to achieve success In this episode, Matt DiFranceso uncovers the importance of building family culture and team dynamic when it comes to running a successful family business. He illustrates a pyramid when guiding you through the process from bottom to top … Continue reading Episode 21 – A Guide To Developing Team Culture Within Your Family →
Female entrepreneurs: are you looking for inspiration to start your own business? In this episode, Matt DiFrancesco and guests Amy Bradley, Beth Walker and Britt Schroeder discuss the growing interests of younger generations to pursue entrepreneurial opportunities, as well as share several insightful statistics about the increasing participation of women in different industries. In this … Continue reading Episode 20 – Women as Leaders in Business — With Guests Amy Bradley, Beth Walker and Britt Schroeder, Part 2 →
Historically, business has been a “man’s world” but women are making leaps and bounds to break the glass ceiling to become leaders and titans of business and industry. In this episode, Matt DiFrancesco is joined by Amy Bradley, Beth Walker and Britt Schroeder, leading female entrepreneurs with experiences in various industries. They discuss several opportunities … Continue reading Episode 19 – Women as Leaders in Business — with Guests Amy Bradley, Beth Walker and Britt Schroeder, Part 1 →
Take a minute to answer this question – If retirement was not an option, how would your life and business be different? In this episode, Matt DiFrancesco emphasizes the importance of creating a business plan as it will allow you to envision your goals for your business, and what you want out of life. He … Continue reading Episode 18 – How To Build a Successful Business Plan →
How do you manage a family owned business? In this episode, Matt Di Francesco is joined with his good friend, and successful business owner Ron Delano of Ron’s Collision Center. Ron shares his story of how he got started, his struggles, and how he maintains healthy family dynamics in his family businesses. He also provides … Continue reading Episode 17 – Overcoming the Challenges of Building a Family Business — With Ron Delano →
Is there anything you need to do for your business before year end? In this podcast Matt DiFrancesco reviews the different avenues out there for business owners to tap into and some of the planning you should do before the end of the year. Matt also focuses on where you stand and how to develop … Continue reading Episode 16 – Strategies for Year End Planning →
Considering entering into a new business can be daunting, especially with new regulations due to COVID. Matt DiFrancesco is joined by Britt Schroeter, a franchise consultant from FranChoice who is Widely accepted as one of the top franchise consultants in the United States. Today, Britt shares her insight with those considering franchise ownership. She reveals … Continue reading Episode 15 - Entering The Franchise World with Britt Schroeter →
Many business owners have had to shift to a temporary virtual model during COVID-19. Is it possible that switching permanently to a virtual office would allow you to serve clients while giving you the freedom and flexibility you’ve been wanting? In today’s episode, Matt DiFrancesco continues his lessons from the virtual office, diving into the … Continue reading Episode 14 – Why Going 100% Virtual Gives Business Owners More Freedom and Flexibility →
Sending your child to college or university can be emotionally and financially difficult. It can also be a benefit. Matt DiFrancesco is joined by Beth Walker, founder of the Center For College Solutions. Beth shares her expertise in planning for college and the costs that come with it. Discover how to leverage different offers when … Continue reading Episode 13 – Continuing Education: Cash Hog Or Investment? →
COVID introduced the idea of working virtually to many forced to stay home. As the quarantine is lifted, some business owners are looking to continue online. Now, Matt DiFrancesco shares his insights about working virtually. He discusses the impact working online has on travel times, meeting times and the cost of working virtually. Discover tips … Continue reading Episode 12- Lessons From A Virtual Office →
Many Pennsylvania businesses are adapting successfully during COVID-19. What ideas can you use to help your family business pivot and thrive? In this episode, Matt DiFrancesco is joined by Amy Bradley, the president and CEO of the Cambria Regional Chamber in Johnstown, Pennsylvania. Amy shares success stories about businesses in her region that have pivoted … Continue reading Episode 11- Ways to Pivot Your Pennsylvania Family Business During COVID-19 –– With Amy Bradley →
During the lockdown, many companies opted to have their employees work from home. But how will this affect the realities of the office moving forward after the pandemic? In this episode, Matt DiFrancesco discusses the impact of technology on workspaces outside of the office and reveals the revelations COVID-19 has uncovered about the benefits of … Continue reading Episode 10 – The Virtual “Office” of the Present →
The economic impact of COVID-19 has been wide and far-reaching. Many local businesses are feeling the strain of a decrease in leisurely spending. In this episode of Your Business, Your Life, Matt DiFrancesco is joined by Dave Erb from West Penn Billiards and Fine Furniture, discussing the impact COVID-19 has had on his business. Dave … Continue reading Episode 9 – Billiards in COVID →
Business owners are finding innovative ways to continue operating during the pandemic. In this episode, Matt DiFrancesco talks about businesses that have pivoted to survive and fulfill people’s immediate needs during COVID-19. This episode is filled with positive stories about innovation and expert advice on how to protect your business going forward. In this episode, … Continue reading Episode 8- How Businesses are Adapting During COVID-19 →
An internal team can handle your day-to-day business operations, but do you have an external team that can handle the unique situations that come up? In this episode, Matt DiFrancesco explains the necessity of having an external team –– one you won’t need every day but should have on hand. He walks you through 15 … Continue reading Episode 7- 15 People You Need on Your External Team →
Dealing with COVID-19 has been eye-opening in more ways than one. As a business owner, how will you prepare for the next crisis? In this episode, Matt DiFrancesco discusses the effects of COVID-19 on businesses and their operations. He asks the important questions that you need to think about for your business and its future. … Continue reading Episode 6- How to Adapt During COVID-19 and Plan for Future Crises →
Step one, create a vision of the future of your business. Step two, developed a plan that will help you reach that vision. In this episode, Matt DiFrancesco continues his discussion on the process of creating and developing a family business. Matt will talk about the different tools that can be used when aiming for … Continue reading Episode 5- Ready, aim, fire! →
You have worked hard and your business is booming. But what happens after you leave? In this episode, Matt DiFrancesco discusses the importance of family meetings when planning the future of your business. Whether family members want a role or prefer to step back, Matt explains the crucial idea of keeping everyone on the same … Continue reading Episode 4 – Why Family Meetings are Important in Family Business →
As a business owner, it’s easy to have your nose so close to the grindstone that, at some point, you look up and wonder, “What is it that I’m ultimately trying to accomplish?” In this episode, Matt DiFrancesco shares steps that you can take to define your business’s present and future purpose. With an eye … Continue reading Episode 3 — What Do You Want Your Life and Business to Look Like? →
In this special episode, we share updates on how we are responding to the COVID-19 situation, how we’re assisting our clients, and what actions we’re advising investors to take during this time of uncertainty. Tune in now to learn how the markets are being affected and what we’re doing to help clients during this tumultuous … Continue reading SPECIAL UPDATE: COVID-19 →
Are you a business owner who would benefit from working with a family office but can’t afford its typically high fees? In this episode, Matt DiFrancesco outlines what makes the virtual family office a cost-effective solution for business owners who want a one-stop point of contact for all of their life, financial, and business concerns. … Continue reading Episode 2 — How to Work With a Family Office Without Paying the High Fees →
Welcome to Your Business, Your Life Podcast! In this inaugural episode, you will meet Matt DiFrancesco of the DiFrancesco Virtual Family Office. Matt is the host of this new show that’s dedicated to helping you create a vision for your business, life, and family. Listen in as Matt shares his outlook on planning, who he … Continue reading Episode 1 — Meet Your Host, Matt DiFrancesco →