Learn the Books for a Better Business | Rick White leans on hard data and historical
knowledge to drive businesses forward
Rick White begins and ends most days the same way: reading a book.
“I’ve got a few books going right now,” he says, “let me check the shelf.”
“Right now, I’m reading The Heart of Leadership, by Mark Miller, and The Motivation Manifesto, by Brendon Burchard.”
By his estimation, White reads 70-80 books per year. That’s an impressive feat, considering the source—White is an impressive guy (his voicemail leaves directions for those trying to reach his automotive repair consulting firm, 180BIZ, as well as a local Boy Scouts troop he helps manage). White is a former shop owner who now spends his time helping others do the same, driving customers and revenue through the shop and elevating the overall industry one class, lesson, and KPI at a time.
Despite his passion for books and learning, White knows the best way forward is simply by doing: “‘A formal education will make you a living,’” he says, quoting the late leadership guru and personal hero Jim Rohn, “‘but a self-education will make you a fortune.’”
“Shop owners have a propensity to do everything because they can’t afford to have people do it for them,” he explains. “My goal is to help them change that.”
Success is a Science
Oscar Wilde—another prominent reader—said, “Success is a science; if you have the conditions, you get the result.”
White would agree. That’s why his philosophies, business acumen, willingness to teach and passion for the industry have all aligned with his next endeavor, the DriveYourKPI.com™ program, developed and hosted by MWACA. According to the program website (DriveYourKPI.com), training will be provided on a monthly basis and led by White.
“I’ve had an Excel sheet I built years ago that I give to clients to see what they’re doing and how to adjust so they can make daily course corrections, which is pretty unheard of,” he says.
“Sheri Hamilton and MWACA offered a platform and it was a no-brainer. The whole idea is to represent the data in a clear visual way so that shop owners can graphically see where they are.”
White explains that most shop owners’ financial data exists in their books or on their screens as two-dimensional, static numbers. With DriveYourKPI.com™, White and MWACA want to offer more in-depth (yet simple) three-dimensional views of the daily, weekly, monthly and annual numbers. Life, after all, is three-dimensional.
“I’m really proud of the whole committee involved,” he adds, “and we’ve put together a great product and program as a group. It was just an absolute pleasure to be a part of the process.”
“The whole idea of KPIs is to look at as few numbers as possible and get a sense of where you’re at,” he says. “There are some to look at daily, some weekly, and some numbers monthly or annually. Basically, look at sales daily, gross profit weekly, and net expenses and profit monthly. It makes a huge difference to understand those numbers.”
Understanding Your Numbers
White explains that one goal is to make shop owners understand why the bank account is low when the monthly profit numbers are decent. Where does that money go, and more importantly, how is that possible?
“The P&L is just one-third of the trifecta we need to look at to get a well-rounded picture of the health of the company,” White says. “Owners go to the P&L first, but the banker looks at the balance sheet first; he wants to see the financial health short and long term, and that’s what informs his decision about the next loan to grow the business.”
Besides leading a KPI class at VISION, White is committed to regional meetings every month (see MWACA Moments for more details). Some seminars will be available in person but the ongoing training will be KPI-specific webinars in which shop owners and White will talk about one number and answer questions. DriveYourKPI.com™ has also rolled out 15-minute webinars called “5-in-15” where he will answer 5-ish questions in 15-ish minutes. White knows the only untouchable (and inexorable) variable in the whole equation: time.
“People value the time they have.” he says. “I want to maximize its effectiveness. We don’t get it back.
“It’s time to get shop owners that don’t have a clue or who aren’t charging enough for service a tool that allows them to see where the deficiencies are. With the right tools, they can make adjustments and thrive.”
3 Management Pitfalls to Avoid
Don’t depend on your accountant. White says many owners lean on their accountant to help make the books right and steer revenue. But accountants don’t know the industry nor the benchmarks; they only minimize exposure to taxes. Know your numbers.
Don’t let your past or current condition dictate your future. Businesses are giant labs and you’re running a perpetual experiment; test theories and track results. Consistency is the last refuge of the unimaginative (Wilde).
Don’t doubt your vision. If deep down you secretly don’t believe you’ll succeed, you won’t. It’s simple.
For more information about the DriveYourKPI.com™ program, contact the MWACA offices at 816-413-9800 or visit DriveYourKPI.com