137 - The Power of Accountability: You Can’t Grow Alone!
July 21, 2025 - 00:37:26
Show Summary:

Recorded at the Institute Summit 2025, Tracy Holt and Patrece Holt Vance, a brother-sister duo from a family owned shop, share how their business transitioned into a new era of strategic growth and profitability under their leadership. They credit much of their progress to the accountability and peer support they found through the Institute’s Peer Groups. Tracy and Patrice also open up about the critical role of workplace culture and employee well-being in their success, and Tracy reflects on how a personal tragedy reshaped his "why" and fuels his drive today.

 

Host(s):

Carm Capriotto, Remarkable Results Radio

 

Guest(s):

Tracy Holt and Patrece Holt Vance, Performance Place, South Jordan, UT

 

Show Highlights:

Introduction (00:00:00 )

Guest Introductions and Family Business Background (00:01:01 )

Composite Partner Program and Accountability (00:02:00 )

Vulnerability and Sharing Struggles (00:04:14 )

Common Struggles Among Shop Owners (00:05:40 )

Summit Speakers and Dan Clark’s Message (00:06:12 )

The Evolving 'Why' and Taking Action (00:07:07 ) 

Self-Doubt and Risk in Business (00:08:03 )

Family Dynamics and Succession (00:08:32 )

Balancing Work and Family Life (00:09:40 )

Major Life Pivot and Business Purpose (00:11:18 )

Lessons from Adversity and Team Building (00:13:08 )

CRM, Marketing, and Customer Loyalty (00:18:16 )

Profitability, Expansion, and Growth Mindset (00:19:20 )

Intuition and Sustainable Growth (00:20:39 )

Cost Management and Expense Control (00:22:10 )

Fear of Failure and Shifting Mindsets (00:24:24 )

Expansion, ROI, and Vision (00:26:38 )

Customer Relations and Word-of-Mouth (00:26:54 )

Opportunities, Multi-Shop Growth, and Caution (00:28:41 )

Conference Takeaways: Culture and Accountability (00:30:30 )

Continuous Improvement and Community Involvement (00:33:06 )

Implementing Conference Learnings (00:33:52 )

In every business journey, there are defining moments or challenges that build resilience and milestones that fuel growth. We’d love to hear about yours! What lessons, breakthroughs, or pivotal experiences have shaped your path in the automotive industry?
Share your story with us at info@wearetheinstitute.com, and you might be featured in an upcoming episode.

 

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Episode Transcript Disclaimer

This transcript was generated using artificial intelligence and may contain errors. If you notice any inaccuracies, please contact us at marketing@wearetheinstitute.com.

 

Episode Transcript:

Carm Capriotto: This is the Aftermarket Radio Network. Hey everyone. Carm Capto. Remarkable Results Radio. Good to have you here. Look at my guest panel. Okay. Maybe it's redundant, but you all know. I'm at Amelia Island at the Institute's Summit 2025, where the theme is stand out. We are the institute.com. Thank you so much to Kent and Cecil Bullard and the entire team from the Institute.

Carm Capriotto: We've had a blast here learning a lot, meeting a lot of our great friends, meeting new friends, and creating content that I know you're gonna continue to appreciate a lot of great stuff coming out of this. Thank you so much to our sponsors. Hey, take your Autocare center to the next level, the gold level with the Napa Autocare Gold certified program.

Carm Capriotto: This program is for the best of the best who can provide a consistent consumer experience and earn the trust of returning and new customers. Talk to your NAPA sales representative about how you can become a gold certified shop. For over 30 years, Napa Trax has made Selecting the right shop management system easy.

Carm Capriotto: By offering the best, most comprehensive SMS in the industry, we'll prove to you that Trax is the single best shop management system in the business. Find Napa Trax on the web at N APA tacs dot. Hey, I am with two great people that I met in Buffalo, New York. I don't know, maybe it was about maybe seven, eight months ago, right?

Carm Capriotto: Yeah, yeah. Tracy Holt from Performance Place in South Jordan, Utah, and Tracy's with his sister, Patrice Vance in the operational side of the business. All the book. You work the counter? 

Patrece Holt Vance: I do, yeah. 

Carm Capriotto: Whoa, cool. It all. All right. Lemme sell me a diagnostics. No, I'm kidding. 

Patrece Holt Vance: I'll check your car in and make sure you feel comfortable leaving it with us, so yeah.

Carm Capriotto: Okay. I am fine. A family business since 1974. I met you guys at a group meeting in Buffalo. Yeah. When you did a peer review of my friend Tom Cino. Remember that? 

Tracy Holt: Yeah. Yeah. Tom is just a great guy, good friend of ours. Good. He's actually a my partner in the group process right now. 

Carm Capriotto: You mean composite partner?

Carm Capriotto: Yep. Yeah. Yes, Tom. Whoa, how cool is that? Uh, 'cause I have the word here. I wanted to talk to you and ask you about composite partners. 

Tracy Holt: Yeah. Tom's been our partner for the last year and we've grown so much in learning from him. And hopefully he's learned something from us too 

Carm Capriotto: along. Trust me, Tom is a sponge.

Carm Capriotto: He's a great friend. My wife's name is Anne, his wife's name is Anne. We spent some time over the holiday together. And I'm just so happy to hear that. What's composite partnering like? 

Tracy Holt: You know, when you get in, uh, a 20 group from the institute, your coach that you have, but then once you get in there, they assign you a partner that helps hold you accountable for your numbers.

Tracy Holt: And then it's also nice to have somebody else that literally at a text, an email, a phone call away saying, Hey, we've got some issues here. What do you think? It's like getting another coach. 

Carm Capriotto: Is what it does. You said the word account and the word accountability has been talked about a lot here in any of the keynote speakers that we've had.

Carm Capriotto: Do you find accountability one of the hardest things to do? 

Tracy Holt: I do. I mean, I think the accountability is really hard to do, but like. In the instance of it's, but you need it. You do. And it's hard to be accountable if you don't know what you're measuring and being accountable for. Right. And if you don't share those goals or benchmarks with somebody else to help hold you accountable, you know, in your mind they're just thoughts and hopes and dreams.

Carm Capriotto: So would you say to Tom, I know what your, I know what your goals are for this year. I know you're looking for another whole point of margin. We're getting together. We're looking at each other's numbers. We're seeing what's going on with your business. And oh, by the way, Tom, you have not reached that goal.

Carm Capriotto: I'm holding you accountable. I'd like to know, is that how it works? That's exactly 

Tracy Holt: how it works. 

Carm Capriotto: Yep. 

Tracy Holt: Yeah. And then usually he can say, this is my struggles and maybe we have some insights and we come up with a game plan and you know, set some new benchmarks and goals and move forward with it. 

Carm Capriotto: Shop owners say, I can't do that.

Carm Capriotto: I can't be that vulnerable. I can't expose my weaknesses. But you guys overcame that. 

Patrece Holt Vance: Yeah, it was really scary at first, like the composite and showing numbers and making sure things were right. Tom was pretty much like Tracy said, our coach during the beginning of it. You know, coming in new and not really knowing what we're doing and making corrections all the time on what our data was.

Patrece Holt Vance: But before we didn't know what any of those numbers were and why we needed to hit these certain goals. And that's what the institute has done for us. Is, okay, well I need to hit this margin, but why? And what does that play a part in? And why are these other margins this? So it's more of just like saying, Hey, you need to hit a number.

Patrece Holt Vance: It's, this is the reason why behind it. Tom's really good about, you know, we're having struggles. He is, it's just more of like a friendship where. Yeah, guess what? We're all not gonna have great months in business, but I have a buddy that's gonna help me through it and instead of just like losing hope, it's like, Hey, bad month.

Patrece Holt Vance: Let's move on. Let's figure ou