Episode 130

That EVIL Word: Profit [E130]

Matt Fanslow tackles the misunderstood relationship between profit and greed in business. He references the YouTube Short "Farmer Does the Right Thing on Shark Tank," using the comments section as a springboard to discuss public perceptions of profit.

Show Notes

  • The association of profit with greed (00:00:11) Matt discusses the perception of profit as a negative concept and its association with greed in business.
  • YouTube short "Farmer Does the Right Thing Shark Tank" (00:01:14) Matt talks about a YouTube short video featuring a farmer's product pitch on Shark Tank.
  • Challenges in justifying pricing to customers (00:03:41) Matt discusses the difficulties businesses face in justifying their prices to customers and the need to educate them about the value provided.
  • Misconceptions about profit and pricing (00:06:21) Matt addresses the misconceptions regarding profit margins, and pricing strategies.
  • Tackling the association of profit with greed (00:14:36) Matt explores strategies for addressing the negative association of profit with greed and the importance of educating customers about business operations.

Thanks to our Partner, NAPA Autotech napaautotech.com

Email Matt: mattfanslowpodcast@gmail.com

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Aftermarket Radio Network: https://aftermarketradionetwork.com/

About the Podcast

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Diagnosing the Aftermarket A to Z

About your host

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Matt Fanslow

Matt Fanslow is the diagnostic tech/shop manager at Riverside Automotive in Red Wing, MN. His primary responsibilities are to diagnose driveability and electrical/electronic issues, and perform most all programming, coding, initializing, adoptions, etc. Basically, if it needs to be figured out or has wires, it goes to Matt.

He’s been a tech since 1996. Matt is also a subject matter expert for ASE and has instructed at Vision Hi-Tech Training and Expo. Matt has participated on 18 ASE technical committees for the ASE Practice Test, A6, A7, A8, and L1 tests. He’s also done case studies for Standard Motor Products. Fanslow’s goal is to do everything in his power to improve the overall level of professionalism within the automotive and light truck repair trade and also raise the level of its public image.