Today’s Show Recap

Thanks for listening to Makin’ It. On this week’s episode, on Show Buzz, Tommy, Todd and Brittany take a look at “Tabatha Takes Over.” On The Fix, they discuss Ford’s declining sales. Also this week on The Danger Report, the gang talks about the end of the Dodge Viper. Finally, on Makin’ It or Breakin’ it, the gang poses the question: When is it time to call it quits? Let us know what you think of the show in the comments section at the bottom of the page!

Rev up your engines. It’s time to start the show!

Show Buzz:

Tommy, Todd and Brittany start the show with Show Buzz, and this week they take a look at Bravo’s “Tabatha Takes Over.” Similar to other business rescue shows such as “Bar Rescue” and “The Profit,” “Tabatha Takes Over” centers around struggling hair salons. Tabatha Coffey goes to the salon and helps struggling managers and owners learn how to run their businesses. Primarily, she shows them how to handle the business aspects of running a salon rather than hair techniques, as most owners have trouble with the business side.

Coffey has a reputation for being somewhat ruthless; however, she has earned her position as she has opened and run several successful salons. And, what most people deem ruthless is merely her trying to teach salon owners how to run their businesses, as they are mostly focused on doing hair.

As with most rescue shows, Coffey works to shift the owners’ mindsets to become leaders, showing once again that once the owner understands his primary role of leadership, everyone else falls into place. What do you think of “Tabatha Takes Over?” Do you think she is too hard on the salon owners? What do you think of how she retrains them? Let us know in the comments section.
 

OMG Fact of the Week:
Brandy is the liquor most likely to cause the most severe hangovers.

The Fix:

In the next edition of The Fix, Tommy, Todd and Brittany discuss Ford’s slumping sales. Currently 26-percent down in sales from last year, Ford is faced with some challenges and is going to have to crawl out of the hole they are currently in. Like their small business counterparts, Ford will have to do what it takes to get out, but it is just on a grander scale involving unions, designs and big competition.

Ford is guilty of the crime of inertia, as many big companies often are. They see the problem starting happen, but they wait until a crisis in order to take it seriously. One of Ford’s main issues is they haven’t released any products that appeal to the emotions of consumers, making their cars a must-have. While there has been a decline in their model cars, the Fusion down 35-percent and the Focus down 32-percent from the previous year, the F-150 truck sales are still steady. Other auto manufacturers in addition to Ford are also having to keep up with customer demand, more wanting SUVs and crossovers.

Another challenge is that many people purchased new cars during the recession and therefore, already have new cars and aren’t buying. But for those who are buying, they are facing higher prices for cars. Ford’s car prices elevated approximately $1,900 from a year ago.

Typically in business, companies either have to be the lowest-cost producer or have to be selling something unique. Ford is already on their way toward reducing the complexity in their products, therefore improving productivity. But they also have to come out with more cutting-edge designs to appeal to consumers’ emotions. So, Ford is going to have to use some of the tactics that made them big to help pull themselves out. What do you think of Ford’s declining sales? What do you think is the cause? What do you think they should do to help their business? Let us know in the comments section.

The Danger Report:

For 25 years, the Dodge Viper has been one of the biggest names in sports cars, and many consider the Viper to epitomize the American sports car. However, the car is about to be a thing of the past, as 2017 will be its last year.

During Chrysler’s 2010 bankruptcy, the model had been discontinued. However, it was brought back in 2014, selling about 1,500 units that year. However, in 2015, it only sold around 760 units, with 2016 not being much better. When sales drop nearly in half from year to year, ending a legacy becomes necessary. What do you think of the Dodge Viper? Do you think it was necessary to end the product line? Let us know in the comments section.

Makin’ It or Breakin’ It:

Finally, Tommy, Todd and Brittany end the show with the Makin’ It or Breakin’ It segment. This week they ask the question: When is it time to give up on something and move on?

Entrepreneurs and intrapraneurs often have trouble knowing when to give up on something because it is ingrained in their psyches to never quit. However, there are times when it is necessary to let something go.

What’s important to know when having to let something go is to not let egos get involved. However, more importantly, as stated in Henry Cloud’s “Necessary Endings,” sometimes it is necessary for things to end so something better can start. This is true in relationships as well as business. During each and every relationship, it is often easy to forget that something had to end in order for a person to be where he is. Moreover, resistance toward ending things can often stop someone from doing something that works even better.

There are signs it is time to give up, such as: No longer feeling something in your heart; feeling exhausted; and constant distraction from your goals. A most important sign is when the quest to solve the problem takes over all aspects of a person’s life.

But just because something needs to end doesn’t mean everything does. For instance, sometimes shifts are needed rather than ending an entire relationship or business venture, and it is old ways that need to be given up on. At these times, good analysis of what is going on is needed so the right decision can be made. How do you know when it’s time to give up on something? Have you ever had to walk away from something? How did you do it? Let us know in the comments section.

Thanks for tuning in to Makin’ It. Let us know what you think of the show and if you have questions about your business, send us an email at info@makinitnow.com or leave us a comment below. We love to hear from our listeners and we read comments on the air. We just might choose yours for next week’s show (so don’t forget to tune in!).

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Additional Resources for Entrepreneurs:

Order Tommy’s new book, The Way of the Rich at amazon.com, barnesandnoble.com, booksamillion.com and buybooksontheweb.com.

For more information on “Tabatha Takes Over” click here.

For more information on Henry Cloud’s “Necessary Endings,” click here and here.

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