The question of the day is: What is your Policy? Policy for what? — Everything. How do we handle any given situation? Most things are common sense, but some things need to be addressed. It could be how you handle certain transactions in your accounting, to how you pay commissions, to how you resolve complaints. Point… Continue reading WHATS YOUR POLICY?
Looking Ahead to 2016: In our last visit, we talked about how to prepare for the end of the year. If you haven’t read that entry yet, go do it now, and get that part done. Go ahead, I’ll wait here. Oh, you are back. Good. Now that last year is set on course, let’s… Continue reading WHATS THE PLAN?
YEAR END MADNESSOK, Time to close this thing out. Are you ready?First, you have to ask yourself some questions, and this is a good time to do it. Do my Transaction Reports match my Bank Deposits? Is my bank account(s) ready to be reconciled? Have I authorized all non-payment transactions? Voids Credits Other adjustments. Can… Continue reading YEAR END CHECKUP
KEY DEALERSHIP EMPLOYEESI talk to a lot of dealerships in my job. I would say the vast majority of them do not have a full staff. I told a guy one day to fire his sales people. “All of them?” He asked. Yes. Then the Buts started. But… they are the key to my business.But…… Continue reading KEY EMPLOYEES YOU FORGOT TO HIRE
SALES TRAINING IS MORE THAN JUST “GO SELL CARS” To be honest, “One Size Fits All” is a load of unvarnished malarkey even in the clothing business. But we are here to talk cars, not clothes, so I am referring to your sales presentation, not your suit. We talked before about outfits. (In this previous post).… Continue reading ONE SIZE FITS ALL?
This is by no means a complete tutorial on compliance. — You need to read and be familiar with the rules discussed, and interpret them for yourself, or contact an attorney for assistance. The Federal Trade Commission’s guidelines for the Red Flags Rule includes this statement: Each financial institution or creditor that offers or maintains one or… Continue reading FTC RULES COMPLIANCE
Free. Oil. Changes. That’s your key to profits. Did I mention they should be free? Free? You may ask, and I say yes, free. Here’s the math: The average cost of an oil change is about $20-$25. This includes the labor to do it. You can get that cost considerably lower buying both oil and… Continue reading THE TIP YOU HAVE ALL BEEN WAITING FOR
Did that need to be said? Well, yes. Too many BHPH dealers simply do not grasp that concept. There are a lot of BHPH Owners who have the attitude that all customers are liars who are all actively looking for a free car. One dealer says: “They ALL look to get out of making payments,… Continue reading THE HAPPY CUSTOMER HAPPILY MAKES PAYMENTS
We’ve been talking about your car lot as if it were a motor vehicle. Let’s go out to the service department and have a look under the hood. Twenty-three percent of businesses that fail identify “Not the Right Team” (NTRT) as a major contributing factor. We discussed previously about having the right finance team that… Continue reading THE RIGHT PARTS ON THE RIGHT CAR
So the “car” that is your dealership has been waxed, and the carpets and windows clean and bright. Now, let’s put the key in this thing, and take it for a drive. How does your business FUNCTION? Do all the gears mesh well, or is there a grinding noise whenever two things come together? Do… Continue reading THE TEST DRIVE