As lockdowns around the country ease and the economy begins its slow reopening, dealers everywhere are looking forward to a return to normalcy – or as close to normal as we can get. While it's true that some restrictions will likely be in place for a while (social distancing, face coverings, contactless purchases, and service, etc.), it's also true that as the economy gets … [Read more...] about Did You Learn the Right Lessons From COVID19?
Many of us lived through the 2008-2009 recession. For those of us that were in some of the hardest-hit industries like real estate, banking, or automotive, we emerged with a different sense of how to navigate life. The impact of COVID-19 will be exponential when compared to the 2008/09 recession. Instead of only a handful of industries being hardest hit, this time around … [Read more...] about In the Quiet, Listening Becomes Easier
Humans are born to compete. As far back as ancient times, when we competed over every available resource as a matter of life and death, the idea that survival and prosperity are born from struggle seems to be woven into our DNA. The same concept applies in the business world, and certainly in the automotive retailing industry. The fact is a finite number of potential … [Read more...] about Grow Your Base Through Conquest
Before we start exploring the reasons why every car dealer must conduct an on-site compliance audit in his car dealership, let us form an overview of its fundamental concept and notches of significance. There are federal guidelines that govern each department of a car dealership; for example, there is a Used Car Rule for the sales department and CAN-SPAM Act for the BDC … [Read more...] about Why Conduct an On-site Compliance Audit in Your Car Dealership?
When a cashier takes your money for your purchase and then sends you off with a deadpan, “have a good one,” how do you feel? On the other hand, Chick-fil-A restaurant’s signature send-off, “My pleasure,” is a big reason it is the most profitable fast-food business in the country. According to an article in Entrepreneur.com, Chick-fil-A “makes more per restaurant than … [Read more...] about Plan, People and Profitability: A Lesson in Chicken