Maintaining Passion After Massive Success (Part 2)

What are some of the ways you can help your business reach and exceed your best-case scenario and find success well beyond your expectations?

Eli Rosenbloom, the founder, and CEO of FR Conversions, has built one of the world’s most successful manufacturers of specialized vehicles. In Part One of Meny’s interview with Eli, they discussed the best way to train employees, the problem with knowing too much before you start, the issue of information sharing, the importance of choosing a specific avatar, and much more. Today, they continue their conversation by discussing mapping out your business, ways to exceed your best-case scenario, the market for new and used cars, the future of self-driving vehicles, maintaining passion once success is assured, and more. Don’t miss it!

Transcript

[00:01 – 07:11] Opening Segment

• The importance of predictability and mapping out your business for success

• How Eli’s ambulance manufacturing company saw significant growth in production and market share

• Understand your business and create models for best/worst-case scenarios

[07:12 – 13:55] Tips from an Automotive Manufacturing Expert

• Why it is essential to model out potential supply chain disruptions

• The complexity of the automotive manufacturing industry and the need for accurate inputs

The consideration of outside advisors or consultants for a fresh perspective
• Stick to what works and avoid distractions with new projects

[13:56 – 20:48] Vehicle Prices Won’t Be Going Down Anytime Soon

• Vehicle prices are not going down, but there may be additional incentives

• How the shortage of new cars is affecting the used car market

A three-year gap in inventory will take years to refill
• Eli’s insights on self-driving cars and why they are an area of interest

[20:49 – 27:30] Changing Lives and Making Mobility Affordable

• How liability and regulations are significant obstacles to self-driving cars

• A crucial component for self-driving cars to understand their environment

• Why Tesla could fall behind other manufacturers

• Big companies investing in self-driving technology may not fully understand the challenges involved

[27:31 – 37:19] Closing Segment

• How Eli’s mission has changed the industry and touched many lives

• Having passion is essential for achieving success in business

• Eli on the rapid-fire questions

Practical Pointers

Don’t believe what everybody tells you; just because everybody knows something is true, doesn’t mean they’re right. While almost all car manufacturers predicted that no one would purchase cars during Covid, Eli refused to buy in, he prepared accordingly, and reaped the benefits by growing more than any other ambulance manufacturer in the world.

Understand your business and map it out by preparing a base model, a best-case model, and a worst-case model. Make sure to also include lots of “what ifs” so that nothing comes as a surprise. Even though it will start off completely wrong, you’ll learn, with practice, how to make it approximate your business so that you can ultimately hit - and perhaps even go beyond - your best-case scenario.

It’s crucial to maintain the passion that drives you to keep working, and three ways of holding on to that passion are enjoying what you do, liking the people you work with, and recognizing that your work is touching people’s lives.

Guest Bio

Eli Rosenbloom

With over 20 years of experience as an owner and operator, Eli Rosenbaum has executive management experience in emergency pre-hospital care, manufacturing and software. He got his start as a commercial ambulance operator & EMT, and eventually went into vehicle manufacturing while simultaneously developing ERP software for manufacturing and distribution. He is currently the CEO of FR Conversions, the only ambulance manufacturer in the world which has increased production during Covid.

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