BMW Insider deckt deutsche VERBRENNER-LÜGE auf!

Summary

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Takeaways

• 😀 The transition to electric vehicles (EVs) is essential, but it will take time for the market to fully stabilize and overcome early challenges.
• 😀 BMW's cautious approach to abandoning internal combustion engines (ICE) demonstrates a focus on long-term market success and risk management.
• 😀 The importance of location and brand has been crucial to the growth of the businessman’s automotive business, alongside strong customer loyalty and effective marketing strategies.
• 😀 A business must stay vigilant about finances and adapt quickly to market conditions; businesses that fail to manage their finances well often face closure.
• 😀 Electric vehicles may reduce repair work in the automotive sector, creating challenges for traditional garages, which will need to adapt to this shift.
• 😀 Family businesses often face generational struggles and challenges with succession planning, but they offer unique opportunities for long-term sustainability if managed correctly.
• 😀 Financial independence and the careful balancing of work and family life are critical for personal well-being and business longevity.
• 😀 Real estate investments have been a solid alternative and a more financially stable option than continuing in the automotive business for the businessman.
• 😀 Entrepreneurs must always think ahead and be proactive about potential risks and changes in the market to ensure long-term success.
• 😀 Transparency and clear communication are key to building trust with both employees and customers in any business, especially in family-run companies.
• 😀 The businessman believes that a strong personal work ethic and listening to employees are essential for any business, particularly when managing a family-run operation.

Q & A

What is the business owner's view on the future of electric mobility in the automotive industry?

The business owner believes in the potential of electric mobility but acknowledges the current challenges, such as technological issues and market resistance. While the industry is moving towards electric vehicles, the transition is not without difficulties, and it will take time before the full potential of electric mobility is realized.

Why did BMW not sign the EU's mandate to phase out combustion engines by 2030?

BMW has not signed the EU's mandate because it is cautious about the future of electric vehicles. The company is traditionally strong in engine manufacturing, especially for gasoline and diesel engines. BMW wants to first see how the electric vehicle market develops and evaluate its risks before fully committing to a transition.

What does the business owner see as crucial for running a successful business?

The business owner emphasizes the importance of location, branding, and strong financial management. They believe that maintaining a close watch on finances and quickly responding to changes in profitability are key to long-term success. They also highlight the need for building strong customer relationships and offering added value.

How does the strong Swiss franc impact the business?

The strong Swiss franc hasn't significantly affected the business, as they don't import directly. However, the owner mentions that when the franc appreciates, the cost of vehicles may decrease, which could be beneficial in some cases. The real challenge lies in how other Swiss businesses handle the impact of a stronger currency on exports.

What does the business owner recommend for other entrepreneurs regarding financial management?

The business owner advises entrepreneurs to carefully manage their finances, suggesting that they regularly review their business models to ensure they are sustainable. They recommend diversifying investments and being mindful of potential risks. The key is to always plan ahead and be prepared for any financial downturns.

What lessons did the business owner learn about work-life balance?

The business owner acknowledges that while they were dedicated to their business, it sometimes took a toll on their personal life, particularly with their family. They advise other entrepreneurs to prioritize family time and not lose sight of personal well-being while building their businesses.

How does the business owner view the future of family-owned businesses?

The business owner believes that family-owned businesses face unique challenges, especially with succession planning and family dynamics. While family businesses are often seen as advantageous, the owner highlights that managing them is not always easy, as family members may have different ideas and expectations for the company.

What is the business owner's perspective on the importance of entrepreneurship and management?

The business owner believes that successful entrepreneurship requires long-term vision and foresight. They feel that many managers are too focused on short-term goals, and that there is a lack of true entrepreneurs in management positions. Entrepreneurs need to take risks, adapt to change, and constantly innovate to ensure the success of their businesses.

How did the business owner manage to stay financially independent after reaching a certain age?

The business owner focused on diversifying investments, including real estate and stocks, to ensure financial independence. They made a conscious decision to build wealth and create multiple income streams. This allowed them the flexibility to retire from the daily grind while still maintaining their financial security.

Does the business owner have any succession plans for the future?

The business owner does not have a formal succession plan, but they are considering involving their daughter in the business. She is currently in the administrative board and is expected to become more involved. However, the business owner reflects on the complexities of family succession and the challenges of balancing family dynamics with business decisions.