In this installment we will talk about “NOW”.
It seems that we, as Dealers, tend to spend an inordinate amount of time either looking back or forward – being “NOW” seems to be a Dealer’s hardest challenge!
When we are “NOW”, we get more done with better results.
A scenario :
Let’s say you just got done with auction and you are on the way back to the lot.
Where are your thoughts?
On your driving – NO!
They are still at auction – the units you bought , the “one” you did not buy and should have.
Your thoughts are in the “past”.
Then your thoughts turn to the cars that you bought – what needs to be done?
How are you going to get them to the lot?
What Recon will be needed and how much that is going to cost?
Then your thoughts drift to you Sales – how will these units do and how long will it take to turn them.
Then the phone rings and that reminds you that you gotta call. . .
Your thoughts are in the “future”.
The circle goes on. . . past – future.
Where is the “NOW”?
You are driving remember and all of a sudden you get cut off and miss your exit. “NOW” you gotta go 5 miles out of your way and in traffic it is gonna cost you 40 minutes. You have a customer due in “NOW” and his cell number is on your desk and everyone is out. This guy is a $100 margin pain-in-the-butt that is buying a unit you have been heavy in for 7 months.
There goes any profit and if this unit goes to auction you’re gonna loose $1400 minimum.
Time to pull the pieces together.
Let me offer a different scenario.
NOW
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OK, you are concentrating on your driving – start looking at traffic.
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How many “white tags” do you see on the vehicles around you?
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What kind of units are they on?
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What type of Buyer is driving that unit?
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Notice a color trend on these units?
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Notice a certain trim level on these units (top end / mid line / basic)?
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How does you inventory stack up?
Future
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What does your Aging Report look like?
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Are you in the right cars at the right price?
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Is it time to “boot” your shade tree mechanic?
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Does your detail man do a great job or a good job ?
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Did that unit get back from the shop yet?
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Is the Lot clean and looking sharp?
All of the “NOW” thoughts are IMPORTANT.
All of the “Future” thoughts have importance at the proper time.
Since your thoughts were “NOW” and you were concentrating on your driving.
“NOW” you do not miss your exit.
“NOW” you make your appointment and sell that old-age unit, pocket the $100 – Next!
“NOW” let us digress – back to Auction.
When YOU are at Auction – do you make the crucial time to be there early and drive each unit that you are going to buy?
Are you observing what other dealers are looking at?
Who is looking at “your” units – either the ones you need or the ones you want to flip?
Are they little mom & pop dealers?
Maybe it is going be some of the big boys like Champion, Auto Nation or Drive Time that will be your “ring partners” on those units?
Do you know the Big Boys’ Buyers? You might want to introduce yourself.
Networking with other Dealers (big and small) while you are at Auction is one of the best ways to flip units and stay “NOW”.
Most Dealers just “go” to Auction.
They will meet up with the same dealers at every Auction. Then they will “gossip” about how bad business is or how expensive units are. Then they will buy the same type of units they always have, thus giving them something to gossip about at the next Auction.
Gossip is POISION to your business !!!!
When you network with other Dealers there is one goal in mind – flipping units, either wholesale or retail.
Keep conversations upbeat and positive!
Ask questions – if problems come up, offer solutions that have worked for you. Be willing for the other guy to do the same for you – who knows! Do the other Dealers have a customers that just might need one of your units or vice-verse?
Having or receiving a good “Bird Dog” is key to those conversations!
Maybe you are a CASH Dealer and have 3 customers that need BHPH ? Work out a deal with a Dealer that has a Finance License. Take those 3 customers and units to him. The Dealer has already agreed to buy YOUR car at a set price ($500/$1000 over your cost etc…) “NOW” he can contract YOUR customer under his license (no missed monies – for either party) and EVERYONE is happy.
When we are “NOW” we are more open the the ABUNDANT opportunities that are all around us that we would have normally missed!
There really is “Gold Dust” in the air!
By that I mean that our business falters when we spend too much time looking to the past or to the future. Our business thrives when we concentrate on the “NOW”. We experience that “Gold Dust” first hand, because we are in the “NOW” looking for opportunities that expand our circle of influence and grow our prosperity.
The “Past” may lay the foundation.
The “Future” may build the bridge.
The “NOW” is where prosperity begins!
Ben Franklin said it best – and I loosely paraphrase it.
“The definition of INSANITY is doing the same thing over and over and EXPECTING different results!”
Till next time, embrace change and stay “NOW”.
Tom Hampton
