Short video clip from the Service Driving Revolution channel (hosted by Chris Collins) discussing how many service department managers lack understanding of financial statements, which prevents them from influencing departmental profitability; the speakers briefly drift into American politics and taxation (capital gains timing) before the host closes with subscription and contact information. The clip emphasizes the need to teach frontline managers how profitability works.
Chapters
We don't explain how the financial statement works to the person running the department.
So we've got service managers out there that have been running their departments for 20 years that don't know how to read a financial statement, which means they don't know how to affect a financial statement.
Yeah, half of them never seen it. They don't know what it looks like.
And the, the. If you send them to nada or whatever, they come back more confused than when they left. As in regards to the financial. The other thing is, a lot of times they don't share it, so the manager never sees it anyways.
That's right.
So if you want to make your department profitable, you have to make the person in charge of the department understand how profitability works.
It's one of the only industries I can think of where.
We come up with reasons not to focus on profitability. Like it's saying it's this thing when it's really this thing. I don't, I can't think of too many other industries that are like that. It's fascinating American politics.
Okay, that's fair. I didn't expect you to say that.
We don't care about our schools.
Right?
Yeah.
But.
I don't know. What are the. What are the latest things? No taxes on tips for waiters or gender stuff. What else? Abortion.
I read a thing the other day and I don't know if it's true or not. I try not to get too far into the news, but I don't know if you heard this or not that there's a proposal out there that people will have to pay capital gains taxes before they actually, like, sell the asset. Have you heard this?
Oh, yeah, that's an idea brewed up right here in, in your home state of California.
I don't understand. That is the saddest thing I've ever heard in my entire life.
That you would have to do that. But. Okay, so politics, service departments. Got it.
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