The Theory of 5: Risk and Reward
We might be offered a new opportunity or position that will provide higher pay or some other reward but comes with more responsibility and will require more time and effort. Or, conditions at our current position might change, tempting us to look for a job elsewhere — or even strike out on our own.
Achieve Growth with a Vendor Resource Group
A strong vendor resource is someone who is in the field daily, working across many OEMs, and is not afraid to take the time to be inquisitive and investigative in their approach with each dealer — to find out where their strengths lie and where they may need help or ideas, and then is willing to be a part of the solution to each dealership they serve.
Leaning Into Leaner Times
Dealers who use T2L speed-to-sale methods to get cars sale ready in three to five days find that their efforts translate into a faster sale at higher margins with more inventory turns, whatever the market.
3 Ways to Improve Internal Dealership Communication
Better communication between employees and departments will help your dealership operate more efficiently and provide a better experience for your customers. Here are three ways to improve communication at your dealership.
They Want More Money!
The risk to the bottom line poised by recent OEM strikes should be carefully considered and any good risk management plan should include not only getting out in front of any problems in the supply chain but also the potential disruptions that could occur in human resource management.
3 Ways to Make Hiring More Efficient at Your Dealership
For each day a revenue-driving role is open, the average dealership loses $1,000 in gross profit. But, the competitive talent market doesn’t mean your dealership needs to increase spending to hire quality employees. By leveraging data and better managing your hiring process, you can reduce costs and secure top talent sooner.
Bringing Customers Back to the Forefront of Your Store
Personalized videos are helping to change the stereotypical perceptions of a car dealership.
The Role of a Finance Manager in the Dealership of Tomorrow
Start talking about the strategy going forward in constantly educating your customer base on your valuable F&I protection and make it as easy as possible to purchase when the customer decides it makes sense to do so — wherever that customer is.
Daily, Ongoing Criminal Records Monitoring
Employers usually don’t pay attention to their employees’ activities outside of work hours, however, failing to monitor employee behavior may place an employer in civil liability jeopardy.
How to Share Data at Your Dealership
Sharing dealership performance data beyond Daily Docs is essential to get your team on the same page on performance and underlying drivers. This is best done with an enterprise business intelligence (BI) solution.
3 Holiday Videos to Spread Good Cheer
To cut through the noise and capture your customers’ attention during this crazy time, you have to stand out from the crowd — and there’s no better way to do that than with video. Here are three essential videos every dealer needs for the holiday season.
Year-End Regulatory Review Necessary to Ensure Compliance
As the new year approaches, re-examination of the legal landscape and related tax implications is in order. Review and analysis of not only fundamental automotive regulations, but also finance and insurance laws is highly recommended.
