Some people will say that I am nuts about knowing the numbers in your dealership and then managing to those numbers to improve profitability. I believe it is important in every department, but today I wanted to share the important numbers you need to track in the sales department. Calculate closing ratio It all starts off with some basic calculations, the first being your closing ratio. Let's say that you kept track for a two-week [...]
An excerpt from Bob's upcoming book, "The 7 Principles of a High Performance Dealership". Is your dealership bleeding? Is it a small cut or is it losing blood by the pint? Perhaps your business is on the brink of losing its life? I meet dealers across the country whose businesses are on the equivalent of life support – struggling each day to simply keep the doors of their business open. The names and locations of [...]
An Overview of BCI's 7 Principles of a High Performing Dealership© Over the years that my team and I have been working with dealers, one of the most common questions that we get asked is, "What makes a dealership successful?" We have had hundreds of conversations with both dealers and manufacturers about what we believe makes a dealer successful and the road map to get there. Through those conversations I have put together the 7 [...]
"Make The Most of the Off Season" Webinar Q&A How do you get customers to bring in their products before they put it in the shed for the winter? Running winter service special is the best way to get customers into the service department! We encourage dealers to offer one of these things. Free power washing, discount on parts or service, free pickup and delivery. As long service departments, should advertise that they will do [...]
It’s the most wonderful time of the year … to be an employee, right? Christmas Bonuses… What is an owner supposed to do about Christmas bonuses? This is a question that we are often asked around this time of the year, so let’s break down our point of view on Christmas bonuses. First, we don’t do Christmas bonuses at BCI and it’s not because we are a bunch of scrooges. Instead, we have seen that [...]
What does it mean for a company to operate lean and why does it matter? If a company is operating lean it means that the overhead a business has is as low as possible and it translates into cash in your pocket. Here are three ways to help your business operate lean - today! 1.Become obsessed about eliminating waste. Eliminate wasted supplies, wasted time, wasted movement; get rid of all the waste! Not only will [...]
My 4-year-old twin daughters recently got fish. My husband and I are not “pet people”, so this was a major deal. After the girls picked out their new fish and a couple of small aquariums and some fish food, we thought we had everything we needed. But, just to be sure, my husband asked the lady the fish department if there was anything we were missing. She quickly identified herself as a fish expert. She [...]
Coffee and books are two of our favorite things at our office. As season is starting to slow down in some parts of the country, I want to encourage you to pick up a new business book. I have made it easy for you, by recommending some of our favorites! The E-Myth Revisited by Michael E. Gerber I would describe the E-Myth as a business degree in a book. It helps clarify why small businesses [...]
When I was in school, I was always in charge of group projects. And by in charge I mean I just did them all by myself. A group project quickly became an individual project where only the credit for the work was shared with others. The truth is that I didn’t mind. You see, I would much rather just do 4 times the amount of work and know that what needs to be done is [...]
5 Signs that You have an Employee that is Holding You Hostage Have you ever been in a situation that you were so deep in the day-to-day issues of your business that you didn’t see what was going on inside your own walls? Or maybe, you know what is happening inside your own walls but always say that you will deal with the issue later in hopes that it will just disappear. Regardless of where [...]
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