strategy & tactics
The 12-Volt Insight Reviewing the basics and fundamentals of our industry can help bring your skill level from good to great. WORDS BY ADAM DEVINE
Whether you have been in the industry for 20 years or two, these key words will always come to mind: complacency and insanity. By nature, humans are complacent creatures. We find a comfortable rhythm and tend to stick with it, rarely straying beyond our comfort zone. Albert Einstein is widely credited with stating the following: “The definition of insanity is doing the same thing over and over again, but expecting different results.” Whether we fall into the category of store owner, sales professional or technician, all of us can fall victim to complacency. You may find yourself wondering, “Why isn’t my business growing?” or “Why am I finding it difficult to close sales?” You might ask, “Why do all my installations seem like they’re the same?” Those three positions, while vastly different in terms of day-to-day tasks, are highly dependent on one another. If complacency starts at the top, it will ultimately work its way down to all levels of the business.
The Owner is the Captain of the Ship If you are the man or woman who oversees the ship and leads the crew, then it all starts with you! If you’re not finding ways to inspire and grow your team, then don’t expect your financial gains and growth to change. As a leader, you are looked up to for guidance and structure, plus continual support. Without a great captain, the ship may drift off-course and the crew will be less likely to respond to direction. As the captain, you should be asking yourself, “What can I do differently to achieve expected results?” It all starts with having a plan and building a solid foundation. You are in charge of delegating tasks to your crew to help you achieve desired results. If you don’t have a
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strategic business plan for the next three, six, or twelve months, that’s an excellent place to start. As a business owner, you need to know where your business is strong and where you can find areas of opportunity for improvement. Recognizing these areas and drilling down on your numbers and books will help you begin to plan and implement changes.
Know and Understand Your Numbers How often do you dive deep into your books and really assess the business? Are you staying high level and just looking at your P&L? To make or develop any real strategic business plan moving forward, you have to dig deep. The numbers on the screen are a direct reflection of how you are steering the boat and its current condition. If there is an area in which you
are excelling, do you know why? Is it the sales approach, your advertising or your prices? There are also two sides to this question. In other words, what are your opportunities? Why are you weak in the areas that need improvement? Could it be a lack of tools, education, or desire to make a change?
Get to Know Your Key Demographic If you are expecting your showroom to fill up and your phone to ring off the hook without putting in the work, you will be severely disappointed and you’ll wait a long time. The market in Naples, Fla. is flooded with luxury and exotic cars. Upper- to middle-class individuals are going to have different wants and needs than a college student whose goal is to rattle his car until the mirror falls off. Knowing your demographic is crucial