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Lessons from the trenches of the retail car business - May. 17, 2008
Hiring the right people, building relationships and adapting to change are the keys to success
I've had a fascinating ride in the retail car business over the past 25 years. Today, I'd like to share some of the things I've learned in the trenches.
Without a doubt, the most important thing I've learned is the value of recruiting and training the right people. People are the lifeblood of the retail car business.
Finding the right men and women to fill the many roles at our dealership is the key to satisfying our customers.
When you have the right people on board, who are motivated and engaged in their work, great results happen. My dealership has grown beyond my wildest dreams, and a tremendous amount of the credit must go to our people.
I've also learned that we're in the relationship business. Whether we're selling summer tires, oil changes or collision repairs, the glue that holds our ship together is our relationships with customers, suppliers and colleagues.
I've had customers approach me, who said that the reason they do business with us is because of so and so in sales, or so and so in service.
This type of feedback pleases me, and it affirms my belief that customers like doing business where they feel appreciated.
Another thing I've learned is that nothing ever stays the same. Everything about the retail car business changes – the vehicles, the tools, and the processes. It's either adapt or die.
Every year, manufacturers introduce new makes and models that are slightly (sometimes stunningly) better than the previous year's models.
The tools and equipment that our service technicians use to diagnose problems are constantly being upgraded.
Ongoing training is a regular part of dealership life. Auto technicians, human resource specialists and sales professionals are constantly learning new things about their chosen fields. Keeping up is a challenge.
Still on the theme of change, I recall in the 1980s (not so long ago) when we ran credit checks on customers who wanted to buy cars. Back then, a credit check might take two or three days to complete. Today, it takes only minutes.
The Internet has accelerated the rate of change at all dealerships. It has made it easier for all departments to work more efficiently and productively. We communicate with suppliers, customers and colleagues in real time, without any delays.
I've learned that some battles can never be won. We try our best to deliver the highest level of service to our customers. Sometimes our best just isn't good enough and it takes wisdom to know when to walk away.
I've learned that each day is a new adventure. Despite a great week or month, our dealership has to start each day with a fresh set of eyes and a positive attitude. Our competition does, and so must we.
At my dealership, we recognize and celebrate our successes. But I frown on people who are preoccupied with past achievements and are content to rest on their laurels. That kind of mindset leads to complacency and missed opportunities.
This leads me to another important lesson I've learned: take nothing for granted.
There have been times when I've expected things to go a certain way, and for a number of reasons, they didn't.
You never know what curves life will throw at you. The best you can do is to be prepared for all contingencies in life and in business. What's the old expression? That which doesn't kill me, makes me stronger. It's true.
The final thing I've learned is that 25 years goes by in the blink of an eye. So have fun and enjoy life.
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