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How to Compensate Your Salespeople
Compensation, regardless of the position in a dealership, is always a hot topic. How much can I afford to pay? What level of performance do I have the right to expect as an owner from my people? How do I know whether I am paying too much, or just as bad, not...
What is the Difference Between MSRP and Retail?
MSRP and Retail Pricing may not be the same thing. One of the most common questions I am asked from new dealers, just getting into the business, has to do with MSRP (Manufacturers Suggested Retail Price) and why we would encourage dealers to charge more to the...
The Nuts and Bolts of Technician Pay
In the compensation programs we recommend, the tech is paid an hourly rate based on their level of experience and the dealership location. For example, in the Midwest, a C-level tech might make $8-$10 dollars an hour. A tech in the Boston area, however, might need...
How Do I Determine My Labor Rate?
One of the most common questions we are asked at BCI is “How do I determine my labor rate?” For most dealerships, the process of setting a labor rate begins with calling all the competitors in the market, asking them what their labor rate is and then...
But, Can They Run the Business?
Have you ever stopped to think about what the core skills or competencies are that someone needs to know to run your business? As you are thinking about what it looks like for someone, other than you, to effectively run your business one day, this is a vitally...
What Will Happen to the Business?
When someone starts a business, they don’t always have the end in mind, but the end will always come. Complexities are inevitable when someone’s time ends at a company, especially if family is involved. One of the areas that can cause the greatest areas of conflict...
Energizing the Next Generation
Many of you are just like us: a family business. Maybe your kids aren’t in the business yet, but you hope that one day they will be. When I joined BCI, I did it because I needed a job. It wasn’t because I was necessarily passionate about what I was getting ready to...
Become the Calm in the Storm
If you could add a feature to Google maps, what would it be? Hands down, mine would be an estimator of how long it takes to get somewhere with kids in the car. Seriously, if you have kids or have taken a child anywhere, you know that it takes almost 50% more time...
Dealing With Difficult Customers
When visiting with owners & managers, I like to ask them how they got started in their business. The stories I hear are diverse & interesting but typically most of the reasons they give have some commonality to them. For example, some started their...
Rock Your Yearly Winter Service Special!
Almost every dealership, regardless of the products you sell or services you offer, historically have a slow time of year. As we travel the country working with dealers, we have seen all sorts of great ideas come alive as they work to keep their businesses afloat...
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