I've always believed that fear based leadership is detrimental to an organization's overall health. It's toxic to employees, customers, and business growth. Fear Is a Disguise. Fear-based leadership is often used to cover the leader's fear and insecurities, whether they're aware of it or not. I listen to podcasts every morning when I walk. Today, I heard a story from the Crooked Conversations podcast with Ben Rhodes (former Deputy National Security Advisor for Strategic Communications for …
Auto Dealership Profitability
How to Learn the Hard Way that Employee Training Keeps Money in the Bank
The following story seems unbelievable, really. But it's true. How do I know? Because it happened after I left one of the big dealerships I used to manage. It's a case study for what not to do when it comes to dealership management. It's evidence that employee training is crucial and by telling this story, I hope to stop anything like it from ever happening again. The Cast of Four Characters A hard-working General Sales Manager A disengaged Corporate Office An untrained Payroll …
Study: Dealership Profits are Evaporating, Here’s How to Stop It
Dealership profits are under intense pressure today and in the coming months, according to a just-released NADA study reported on by Automotive News. U.S. franchised new-vehicle dealerships sold about the same number of new vehicles through June this year as they did the year earlier, but dealers are making less money on them. Even profits on used vehicles, which are typically fatter than those of new vehicles, will narrow because "residual decline is accelerating and depreciation is …
10 Rules for Dealership Success I Learned from Marcus Lemonis
One of my favorite shows is CNBC's "The Profit." Who doesn't love a good redemption story about a failing business? They spotlight the players in the business to let the audience see what brought them down the path of destruction. Sometimes the drama is pretty thick and things heat up, especially once Marcus Lemonis arrives with a big check to get the business back on its feet. It's fascinating to see the processes (or lack thereof) and decisions that these people made that got them into …