Auto Shop Coaching Blog

What Is Your Money Thermostat Set For?

“I am constantly in a crisis to get to the next version of myself.”Ed Mylett

During a recent trip to Dallas, Texas, I was a hot coach. I touched down at 10am and it was already 95 degrees! My first order of business was to get to my room to cool down. Upon arrival, I sadly discovered that the AC was off!

I turned it on and set the thermostat to 72 degrees. By the time I got back to my room during the early afternoon, the outside temperature was 107 degrees! Since I set my thermostat for 72, the room temperature adjusted down to the pre-set level.

The following morning, I was up at 4am, and the temperature outside had dropped to 65 degrees. The temperature in my room eventually leveled up to 72 degrees because that’s where I set my thermostat.

By now, you may be thinking, “Thanks for sharing Twiggs, but what does this have to do with me?”

Ok, so here’s the big idea: “Your identity is the thermostat for your activity.”

Your income can adjust down or level up depending on where your identity thermostat is set.

For example, in his book The Big Leap: Conquer Your Hidden Fear and Take Life to The Next Level, Gay Hendricks referenced a study that found 60% of all lottery winners blow their winnings within two years.

They may have won millions of dollars, but their thermostat adjusted down to their pre-set level since their identity was based in poverty. They engaged in activities that created poverty like gambling, bad investments, and overspending.

I’ve even seen this play out with a shop owner. His thermostat is set for $3,000 per week in Gross Profit Dollar (GPD) lift. He may have a $13,000 lift week, but eventually, he will adjust down to his original setting.

Likewise, a shop owner pre-set for $10,000 can have bad weeks of low lift, but she will eventually level up according to her setting.

What is your money thermostat set for? Stay with me to discover how to raise your temperature!

Ideas to grow your businessNon-ATI Members: Discover more valuable tips and strategies to improve your bottom line, grow your business, and reach your goals in ATI’s shop owner events. Register at www.atievent.com.

Join a “Hot” Group

I had this goal to run an eight-minute mile. No matter how much I practiced by myself but couldn’t get there. It wasn’t until I joined a running club that consisted of members who had already run an eight-minute mile that I could do the same.

Once I joined the right group, the goal became achievable! Are you running with the right group?

Since it’s hard to get “hot” in isolation, the fastest way to become a hot shop owner is to consistently associate with others who are hotter than you!

Initially, I set my thermostat to achieve a nine-minute mile. Then, I noticed that the “eight-minute milers” had certain habits, routines, and rituals different from mine.

I didn’t experience similar success until I implemented the same strategies.

What’s In It For you?

Maybe money isn’t your most pressing concern. I get it.

Your “eight-minute mile” may be hiring the right service manager, finding the right technician, or keeping the people you hire. The same principle that I opened with still applies!

You are living with the results that your thermostat is set for. For example, “C” player habits will fail to attract “A” player hires.

The good news is that you don’t have to run by yourself!

I challenge you to go to your next Shop Owners Class, 20 Group Meeting, and SuperConference breakout with the purpose of seeking out those who are playing the game at a higher level than you.

You will find that the high performers you meet will have specific habits regarding recruiting, networking, ad placement, and company culture. You can experience similar success by implementing the same strategies.

Conclusion

So, there you have it. If you intentionally and consistently associate with shop owners who have accomplished the results you desire to achieve, you will get better faster.

If you commit to consistently practicing their processes, you will become hotter than an early afternoon in Dallas!

Non-ATI Members: For more tips on achieving specific results and running a productive, profitable shop, check out our shop owner events at www.atievent.com.

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Eric, the Accountability Coach, is an Executive Coach at ATI and has been coaching since 2009. Eric came to ATI having managed over 60 different automotive repair facilities and having supervised over 500 employees at a given time. He loves seeing members progress beyond what they thought was possible for them and seeing members improve their shop to the point where they can leave for weeks at a time, and come back to a business that's better than when they left.