We recently had the opportunity to interview Alexander Renner, Founder of Alexander Renner Motors (ARM®), European Autospares and RED® Spare Parts. From humble beginnings to building a thriving business, Alexander is a seasoned entrepreneur and business leader with a proven track record of success in the automotive industry. With nearly three decades of experience in automotive repair, management, and growth strategies, Alexander offers his insights on this industry and shares suggestions for aspiring entrepreneurs and industry professionals alike.
The Beginning
Reflecting on your journey, what inspired you to start in your current industry, and what was a defining moment early in your career?
Alexander shared, “My automotive career wasn’t inspired by passion, but circumstance. At 18, I began my education in Germany, seeking challenges beyond routine repairs. There were a few defining moments during my career for sure, one of the earliest and most important ones was when I realized that commitment and hard work always pay off in one way or the other.
I asked my boss for complex tasks, typically reserved for senior technicians. He took a chance on me, and I delivered, earning a rare salary raise after just two years. This defining moment taught me that hard work, consistency, and stepping out of my comfort zone are key to success. Nearly 28 years later, this mindset continues to drive me. This taught or confirmed to me that everything is possible in life if you want something and commit to it.”
Overcoming Major Obstacles
Every career path is filled with inevitable challenges. So, we asked, “Throughout your career, what has been one of the most significant challenges you faced, and how did you overcome it?”
He replied, “As a self-employed entrepreneur since 2007, I’ve weathered major challenges like the 2008 financial crisis and COVID-19. Key takeaways: confront problems head-on, lead by example, and prioritize essential expenses. In crisis mode, I’ve learned to reassess lifestyle choices, willing to downsize assets – homes, cars, or others – to ensure business survival. This mindset has allowed me to navigate turbulent times, recognizing that crises will pass, but resilience and adaptability are crucial.”
Potential Trends Of the Automotive Industry
We further asked, “Given the rapid evolution in your industry, what major trends do you see shaping the future, and how is your company preparing for them?”
Alexander added, “Despite the hype around EVs, combustion engines will dominate the automotive industry for the next decade. EVs will play a role, but I believe their adoption will be slower than predicted. Hydrogen fuel cells offer a more promising, economical solution. While mass production is 10 years away, hydrogen’s carbon footprint is superior to EVs, considering manufacturing impacts. Hydrogen cars also offer practicality, similar to combustion engines, making them more likely to gain widespread acceptance.”
Visions For The Company
We inquired, “Looking ahead, what are your aspirations for your company, and what strategies are you considering achieving them?”
“I assume many business owners are inspired by the idea of doubling turnovers, opening new offices all over the world, increasing the reach to new clients, adding staff, and so on. For me, business growth isn’t just about scaling turnover or expansion. I’m driven by personal growth and new challenges.
I seek complex projects, like building our warehouse and office from scratch, to develop myself and stay adaptable. Standing still means stagnation. I don’t plan 10 years; instead, I remain flexible, navigating volatile markets and embracing unexpected challenges that shape my journey and the company’s direction.” Alexander added.
Redefining Businesses With AI
AI and emerging technologies are transforming businesses. We asked, “How do you see these changes affecting your industry, and how is your company adapting?”
“I always welcome AI and new technologies and in fact, we are looking at optimizing our online shops with AI and other tools. However, I am a strong believer in human interaction with clients in my companies. I know how quickly I get frustrated when talking to a bot whilst I have a banking issue for example. Something I will always avoid in all my companies; AI is a very powerful tool and will change the lives of many positively but also negatively and I am aware of that. But it needs to be used better and more sensibly while dealing with clients.” He shared.
Ethics Guiding The Business
To learn more about the values that guide Alexander Renner’s business, we asked, “What guiding principles or core values have you consistently relied on to drive your company’s success?”
Alexander shared, “Honesty, transparency, and focus on the client’s interest. These principles can be converted to any business regardless of the industry. Success and growth in business, which includes ultimately financial success, come automatically if the principles are followed.
For example, if we sell, let’s say original parts to a client, these are original parts and not a mix of fake or copies. Others may try to have a short-term gain on such transactions since they cannot or are very difficult to trace for a non-expert.
Another example would be in my service industry, ARMotors (ARM®), our high-end car workshop prioritizes client interests above all. I instruct service advisors to recommend repairs with clients’ best interests in mind, ensuring transparency and exceptional care. This approach fosters loyalty, encouraging clients to return and share positive experiences with others. I believe many companies overlook this crucial aspect: genuine customer care drives organic growth and long-term success.”
Setting Apart From The Competition
We ended the interview by asking, “Could you share an innovative strategy or approach that has recently helped your company stand out in a competitive market?”
“The answer is very similar to what I said earlier, honesty and transparency. In the automotive industry that is not as common. I also do not like to overpromise and underdeliver, something I am very clear to all our staff whilst dealing with our clients.” He concluded.
Follow Alexander Renner on LinkedIn.
Find ARMotors (ARM®) on LinkedIn and visit their website https://www.armotors.ae
Check out European Autospares on LinkedIn and on the website https://www.europeanautospares.com
Have a look at RED® Spare Parts at https://redspareparts.com/
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