Don't get to the end of this year wishing you had taken action to change your business and your life.
Click here to schedule a free discovery call for your business: https://geni.us/IFORABE

Shop-Ware gives you the tools to provide your shop with everything needed to become optimally profitable.
Click here to schedule a free demo: https://info.shop-ware.com/profitability

Utilize the fastest and easiest way to look up and order parts and tires with PartsTech absolutely free.
Click here to get started: https://geni.us/PartsTech

Transform your shop's marketing with the best in the automotive industry, Shop Marketing Pros!
Get a free audit of your shop's current marketing by clicking here: https://geni.us/ShopMarketingPros

In this episode, Lucas and David are joined by Derick Van Ness from Big Life Financial. Derick discusses the impact of state tax deductions on federal taxes, with a focus on high-income earners in states like California and New York. David shares his relaxed attitude towards financial management, explaining how he balances cash flow despite economic struggles. Derick also highlights the importance of having a reliable team and establishing a financial operating system for business owners.

00:00 Considering hiring a forensic accountant for business review.

05:15 Evaluate current advisors; start with taxes.

07:39 R&D entails credits for system upgrades efforts.

12:01 Limiting state taxes as federal write-offs.

14:52 Conference and event travel cause financial strain.

16:31 Bank crisis caused financial ruin, power loss.

23:02 Shop owners often overlook tax seriousness.

24:00 CPAs busy auditing, rarely offer proactive advice.

28:32 Automate savings early for financial security.

31:46 Recommended savings percentage and retirement amount?

34:07 Aggressively save; build income streams beyond business.

36:10 Budget for two months' shop expenses buffer.

41:50 Real estate improves over time with depreciation.

44:54 Pursue passion freely, enjoy life without constraints.

47:45 Alternative investments offer consistent income for retirees.

50:21 Intangible capitals determine your EBITDA multiplier.

52:27 Prepare for unexpected events despite profitability.

55:57 Send info to stream on Facebook page.

Don't get to the end of this year wishing you had taken action to change your business and your life.
Click here to schedule a free discovery call for your business: https://geni.us/IFORABE

Shop-Ware gives you the tools to provide your shop with everything needed to become optimally profitable.
Click here to schedule a free demo: https://info.shop-ware.com/profitability

Utilize the fastest and easiest way to look up and order parts and tires with PartsTech absolutely free.
Click here to get started: https://geni.us/PartsTech

Transform your shop's marketing with the best in the automotive industry, Shop Marketing Pros!
Get a free audit of your shop's current marketing by clicking here: https://geni.us/ShopMarketingPros

In this bonus episode, Lucas sits down with Mickey Leech, the CEO of Schumacher Electric, to explore the pitfalls of chasing quick riches over hard work in business.

Mickey shares his unconventional career journey, detailing the valuable lessons he learned from various early jobs and emphasizing the significance of collaboration and empowerment within the workforce. Lucas underscores the importance of hiring people who complement one's weaknesses to build a stronger team.

00:00 Executives transitioning industries often gain new insights.

05:20 Organizations often overlook their end-user impact.

08:56 Trust and relationships drive industry innovation.

09:22 Passionate gearheads create essential automotive products.

13:07 Pathway to excellence: improve incrementally each day.

18:30 Leaders must control, reject feedback, limit vision.

20:55 Anxiety unresolved by prayer despite religious beliefs.

22:40 Agility needed for future education and economy.

25:54 Find me on LinkedIn for career help.

Don't get to the end of this year wishing you had taken action to change your business and your life.
Click here to schedule a free discovery call for your business: https://geni.us/IFORABE

Shop-Ware gives you the tools to provide your shop with everything needed to become optimally profitable.
Click here to schedule a free demo: https://info.shop-ware.com/profitability

Utilize the fastest and easiest way to look up and order parts and tires with PartsTech absolutely free.
Click here to get started: https://geni.us/PartsTech

Transform your shop's marketing with the best in the automotive industry, Shop Marketing Pros!
Get a free audit of your shop's current marketing by clicking here: https://geni.us/ShopMarketingPros

In this episode, Lucas and David Roman are joined by Scott Hicks, an industry expert. Scott provides insights into network diagnostics, explaining the simplicity of using basic tools like a multimeter for solving most network issues. David and Scott also discuss their contrasting willingness to experiment and learn.

00:00 Wife leaves class due to inappropriate jokes.

05:04 Consider change; avoid repetitive conversations.

08:49 Small show rebrand became huge event success.

11:59 Subaru misfire: Coil connector issue discovered.

15:11 Overthinking causes unnecessary complications and mistakes.

18:51 GM evolving automobile network infrastructure strategies.

21:46 Tinkers for 10% performance boost without manuals.

23:48 Skeptical of washing machine solutions. Limited effort.

27:13 It wasn't going to fix the issue.

30:51 Overseas manufacturing benefits consumers with cheap EVs.

35:16 Ensuring transparency for car repair data access.

36:02 Lies frustrate; protocol offers access amid constraints.

39:08 Approach affects perception; manufacturers willing to collaborate.

43:15 Dealers influence training content, favor resistance testing.

46:10 Depopulation conspiracy for land acquisition.

49:41 Saw Scott; commented on his gray hair.

55:11 Biopsy and scope for potential throat cancer.

56:00 George's painful diverticulitis surgery with tube.

58:59 Foam roller relieves back pain effectively.