Building Leaders: When to Let Go, Part 2
“My job is to find the right leaders for the right job, make certain they are working from their position of strength and lay out the expectations. They need to know what we want, when we want it and what rules of our culture they must follow to get it done.”
First, Know Your ADR, and Improve From There
“…the ideal in contemporary recon is progress, not perfection. However, to progress you must know the facts as they relate to your operation — and how you operate.”
Closing the Revolving Door and Setting Up Your Employees for Success With Effective Training
Why is employee retention so important? The Society for Human Resource Management recently reported that the cost of replacing an employee can amount to six to nine months of that employee’s salary, while PwC found that the cost of losing an employee in the first year can be up to three times the person’s salary.
Average Days in Recon: ADR Spells Higher Gross
Last month I discussed Average Days in Recon (ADR), which laser focuses how reconditioning efficiency and accountability are measured when using reconditioning Time-to-Market workflow software. ADR holds the recon department responsible for only what it can physically touch. It does not include In-transit times or title-release delays. The clock on ADR starts when the used
The Right Direct Mail Can Make a Difference for Your Dealership
What can a dealer do when she can’t move her 2016 inventory, people are not coming on the lot, and the entire sales team is frustrated that their numbers are down? Let me tell you about a Nissan dealership in Louisiana that consistently outsells everyone else in the area by capturing new clients via conquest
Is Your GM the Right GM for Your Bottom Line?
Lots of folks suit up to look the part. Unless the general manager of your dealership looks the part and plays that role hard, though, with passion and an enduring commitment to excellence, your dealership will not be great. GMs fill big shoes. They cover a lot of acreage in their responsibilities — staying atop
Why You Should Hire a “Chaser” to Improve Used Car Profitability
Sometimes, activities seem to move along better where a nudge (noodge) is at work. A nudge pushes you to do your work, cut the grass (now) and get to the gym. Dealership performance motivator Tommy Gibbs says dealerships need a nudge, too, especially if improving used car profits is the end game. The Free Dictionary
GM’s are Finding Hidden Revenue in Recon and You Can, Too
It is becoming increasingly critical that dealership operators recognize how reconditioning practices affect bottom line profitability. Unstructured and unmonitored recon practices create waste and costs that erode used car gross. On the other hand, GMs will transform their recon operations into profit centers when they use a time-based, continuous improvement strategy to drive this critical
Hope: A Magic Ingredient for Employee Retention
Today’s average car buyers go to 1.6 dealerships before they buy a car. They do not move on from that first dealership because they don’t like the brand. They move on because they don’t like the dealership. With a turnover rate for dealership salespeople of 72 percent, customers who want to become loyal to a dealership
WHY YOUR DEALERSHIP SHOULD BE OFFERING A MASTER VENDOR PROGRAM
The process of reconditioning used vehicles is a costly, but necessary, undertaking for dealerships. Thanks to new technology, there are now tools and systems available to help dealerships get the best value for their recon dollar. A new tool that is trending with dealership vehicle reconditioning is the Master Vendor Program (MVP) concept. This program