Liza Borches is the President and CEO of Carter Myers Automotive, a family and employee-owned automotive group serving Central Virginia since 1924. As the fourth-generation leader of CMA, she is the first woman to hold this position in the company's history. Liza continues her family's legacy of honesty, integrity, customer service, and community involvement while driving the business forward.
Balancing motherhood, being a wife, friend, and CEO is no small feat. Liza Borches understands this challenge intimately. In a recent episode of the Parts Girl Podcast, she shared insights on managing multiple roles effectively. She highlighted the importance of systems, processes, and a robust support network. According to Liza, these elements are crucial for juggling diverse responsibilities seamlessly.
Liza is passionate about sharing stories and mentoring young women. She believes storytelling is a significant tool for inspiring and guiding the next generation. She emphasized that women today face unique opportunities and responsibilities, which makes mentorship even more vital. Liza's experiences serve as powerful testimonies for aspiring women in the automotive industry.
Both Kaylee Felio and Liza discussed the acceptance of life's changing seasons. They touched upon the reality of not being able to do everything daily. Understanding and accepting this can lead to a more balanced and fulfilling life. They also mentioned the benefits of having a coach to challenge one's thinking and uncover growth opportunities. For Liza, working with a coach helped define her company’s mission, moving lives forward.
The authenticity of a company’s mission goes beyond marketing tactics. Liza underscored the importance of rooting the company mission in personal experiences and genuine stories. This authenticity resonates more deeply with employees and customers alike. The ASOTU motto "Love people more than cars," created with Paul Daly and Kyle Mountsier, stands as a testament to this approach. It has positively impacted the automotive industry, showcasing the power of heartfelt values.
Creating a succession plan for a family business can be challenging. Liza discussed the complexities her family faced, including disputes over ownership and mediating issues with attorneys. Her father played a pivotal role as her mentor and advisor, offering invaluable guidance. An interesting anecdote she shared was discovering a letter from her father to her grandfather. The letter was about resigning from the company in 1977 due to succession planning disagreements, a significant event that shaped the company's future.
An Employee Stock Ownership Plan (ESOP) can dramatically influence a company's success. Liza’s company adopted an ESOP in 1979, which provided a retirement plan for associates. It also allowed employees to invest in the company, sharing in its profits. This caused a strong sense of pride and ownership among the employees, contributing to the company's growth. Liza encourages other companies to consider ESOPs, despite the transparency challenges they bring.
Liza Borches has a unique passion for fixed operations. Contrary to the typical focus on variable operations in the automotive industry, she loves being a service advisor. She values making a difference in the parts and service departments. The growing presence of women in fixed operations excites her. Nowadays, almost half of the service advisors are female, along with several female managers and technicians.
Liza is collaborating with Danelle Delgado on a program called "Engaged Women in Auto Retail." The initiative aims to coach and train women for personal and professional development. It focuses on communication skills, emotional intelligence, confidence-building, and leadership development. The program includes weekly online training classes, monthly coaching calls, and special guest speakers. It aims to address the underrepresentation of women in dealership leadership roles, offering a platform for women to share their stories and support each other.
Liza Borches is optimistic about the automotive industry’s future. She stresses the importance of attracting, retaining, and developing great associates. Building relationships based on trust with customers is crucial for the industry’s resilience. Although transportation will change, the automotive industry will remain vital for people’s lives. The COVID-19 pandemic prompted a shift in communication, resulting in new connections and growth. Liza believes focusing on people and being a trusted advisor will help the industry adapt over the next 100 years.
Liza Borches's journey and insights offer valuable lessons in balancing personal and professional roles, authentic leadership, and industry innovation. She remains open to connecting with like-hearted automotive associates on LinkedIn, fostering a community of growth and support.
——————————————–
Listen to the full episode here:
https://spotifycreators-web.app.link/e/tgjIUiho3Ub