Episode 025: David Hsu (Part 1) from Group A Engineering, Skunk2, Kraftwerks, and Grams Performance talks business!
THIS IS PART 1 of 2: This episode is about business, and how David built and is continuing to build his businesses. David Hsu is an unapologetic capitalist who believes in free market forces which basically state that if your product or service is less-valuable than a competitor then the market will deal with you. In this first part (of two) we discuss how to bring a product to market, design patents, EBITDA, the four F’s of raising money, and David offers two things you must understand if you’re building a business.
All the way from New Zealand! Andre Simon and Ben Silcock are partners in HP Academy, a company that offers web-based EFI tuning instruction. They’ve created a unique approach that breaks each class into modules so the user can quickly reference back to just the topic they want. This approach is basically topic on demand which makes it very usable. In this episode we discuss drag racing, tuning, knock monitoring devices, and these two offer some great resources that they’ve found valuable. HPA High Performance Academy
The performance industry is largely driven by people with little to no business experience. This is especially true at the shop level. That makes the barrier to entry very small, as most shop owners don’t have a business plan and have very few systems in place. Usually the shop owner IS the system! Jordan Watson has a different approach. Jordan spent the first part of his career gaining an understanding of the performance street car community, and now he’s working to create a systems-based approach to his performance services business. His goal is to create a company-wide system that...
Does the world think that we’re just hobbyists who like to tinker with our cars, or are we considered professionals? In this recorded phone conversation between Reid Lunde and Ben Strader we discuss the concept of a white collar mechanic and how your actions affect perception, and how that impacts the automotive performance industry.
There’s a lot of pressure to lower your price when you have a service business, especially if you sell parts. Customers are constantly telling you that your price is too high, even when you’re barely scraping by! In this episode Ben Strader talks about how to overcome objections and how good service businesses can charge a premium and thrive at the same time! Ben’s got big plans for EFI University including creating college-level accreditation.