Four Steps to a Super DOC – and More Profit

I find that most disappointments in the monthly financial statement come from a lack of daily reporting. In fact, I’ve been a long-time hater of our whole month end process. We basically shut down all accounting operations for three to five days wh
Jul 1, 2010

What is Your Dealership Real Estate Worth?

What is your dealership real estate worth today? That is a very good question, and not one that is easily answered. Most dealers and their lenders order an MIA appraisal to determine real estate value. Unfortunately, during the recent real estate bub
Jul 1, 2010

Wow! A Free Money-Maker

I discovered a well-written, easy to read, instructional paperback written by Gary Vann, the VP of Sales and Marketing for Mighty Auto Parts, a nationwide aftermarket maintenance parts distribution company located in the Atlanta area. Mr. Vann is obv
Jul 1, 2010

Moving from Stiff-arm to Hug

The entire history of auto sales has been defined by the dealer’s quest to control the selling process. Pre-Internet, that was straightforward: the customer walked in the door, the music started, and the Four Square Dance began. Today, the customer
Jul 1, 2010

Pricing Guidelines for Fun and Profit

A friend of mine bought a vacuum cleaner and was proudly touting the features and benefits over a beverage the other night. To hear him talk, it was the Mac-Daddy of all vacuum cleaners. I think it even discards the junk it collects by itself. His en
Jul 1, 2010

The New Reality of the Used Car Business

Every day I’m more convinced that dealers’ strategy for making money in used car operations is outdated and wrong. Have a conversation with any dealer or manager about used car operations and the words “gross profit” will be mentioned in shor
Jul 1, 2010

Eight Steps for Real Reputation Management

It doesn’t matter if your name is on the building or if you’re “just drawing a paycheck,” your dealership’s online reputation is quickly becoming the most important attribute of your long- and short-term marketing strategy. Even if you’re
Jul 1, 2010

Take Out the Trash and Keep the CRM from Being a Garbage Dump

Please open up your wallet, pull out a $50 bill, walk over to the nearest trash receptacle, and throw away your money. What do you mean ‘no?’ Of course, it sounds foolish, but that is what your sales team is doing with your money right now. There
Jul 1, 2010

Hagen Durant, Classis Chevrolet

In existence for only 20 years, Classic Chevrolet in Grapvine, TX, has been the number one selling Chevy store four consecutive years and is about to make it five. Much of that is due to the culture Owner Tom Durant created that his son Hagen, Classi
Jul 1, 2010