Learn How to Overcome the Troubles Faced by Automotive Dealers in the Present Economic ‘Crisis’

For many dealerships, times are hard. The leads have slowed down, the obstacles of financing ought to qualify as an Olympic sport and advertising simply doesn’t work like it used to.
And the fact is that several dealers are going under. There’s going to be a lot of victims after this store included.
OR perhaps not.
This present economic ‘crisis’ might actually be your best blessing as a small business owner.
Sounds crazy, but here’s the deal.
Many dealers are going out of business. No doubt. It’s already happening. Your job is to be sure it’s someone else’s business going under… not yours. And there are terribly real ways to do this, if you’re really serious about being among the 20% of dealers who can outlive the storm.
I’m going to give you some cold, hard statistics and methods to assist you in just an instant, however let me begin by saying that if you don’t have the right systems or processes in place, work them out now. If you have character conflicts, deal with them today. If you don’t have a system for staying in touch with past customers and unconverted leads, get one.
If you don’t have a crystal clear answer to the query, “Why should someone select me over different dealers?” figure it out this weekend. If you don’t have a predictable method to get new prospects into the door, at will, now is the time to do something about it. If you have floor plan issues or problems with your lenders, it’s better to sort it out this month than next.
Why?
It all comes back to the eternal 80/20 rule, also known as the Pareto Principle.
If you’re not acquainted with the Pareto Principle, this rule dictates that 20% of dealerships naturally get 80% of the business. In other Carprices words, the 20% of dealers who will outlive this current economic storm will do so because they make 16 times as much as those in the 80%.
And because of this capability to earn additional capital, when the market will come back (which it always will), they’ll be larger and higher than ever, readily positioned to eat up new shares of the auto market.
Which may mean more dealers go out of business again-but it won’t have an effect on you if you’re among the 20%.
So what can you do to confirm your dealership rapidly and easily ends up among the 20% if you’re already in, or teetering towards the 80% category?
Well here’s what dealers in the 20% group do, and what you’ll need to do if you intend to survive:
1. They’re sharpening their axe to make sure the dealership runs smoothly…
2. They’re going through further lengths to make sure the workers is well skilled…
3. They’re getting a dense grip on the marketing engine that can drive their business over the next few years…
And most importantly, they won’t panic or talk themselves into defeat. They know individuals will still buy cars. Just not as many. They also know there’s going to be fewer deals to go around and that they’ll do what it takes to safeguard that business.
Now, what happens if things get real bad, and unemployment rises to 15% or more? Well if you’re in the 80%, you will be forced to lay off and you won’t have the required sustain employees to run your store.
BUT, if you’re in the 20%, 15% unemployment rates mean you’ll have the choose of the litter of who you would like to work at your store. It means you’ll have the cash to dismiss your deadbeats and riff-raff and be ready to replace them with capable, skilled, hard working people in an instant.
So high unemployment rates will be a good you’re in the right group.
The 20% group can see these hard times as an chance.
Smart people (those in the 20%) know that now, and the months ahead are prime time to invest in stock, real estate, human capital, marketing, inventory — and they’ll be the ones who really rake it in when the market comes back.
Thus where can you fall as it relates to the 80/20 rule?
Here’s something else that Things To Know When Going To A Car Dealership we know for sure…
1. 80% of the individuals reading this will create only 20% of the results they have to be successful (harsh, but true)…
2. However 20% of the dealers reading can create 80% or more of the results they need to make make it big!
A small share of the dealers reading this right now are prepared to make marvelous advances in the coming months, while the rest are fated to patchiness.
Now here’s where things get really crucial. The 80/20 rule repeats itself, infinitely. Which means the top 20% splits itself into eighty/twenty. Thus there’s the top 4%.
Then it happens once more. 20% of the top 20% of the top 20% — the top 0.8%. That’s where you actually want to be. If we didn’t already challenge you enough to be within the top you REALLY need to come out ahead, strive to become a top 0.8% person.
Let’s take a closer look at the.8% person:
Each decision is carefully made by a 0.8% person because it’s way more precious than a decision made by an 80% person.
A 0.8% person is aware of a way to focus and slim their hard work on those things which are really important. Even though he may have a list of 43 things to do, he’ll hone in on the 3 or 4 that are more important than all the others combined. But the 80% folks treat all items like they’re the identical, or worse, work on the 40 less crucial tasks before they tackle the 3 or four that basically matter! They have no sense of priority and hence they “busy work” themselves out of existence.
The 0.8% person carefully discriminates what information he will permit into his he reads, listens to, or watches on TV… who he surrounds himself with. The 80% folks are “open minded” and “tolerant” to just about any individual or any idea.
The 0.8% people belongs to some kind of mastermind or “good ol’ boys” club. This is the sort of group that can support, hold up, and go the extra mile for its members. And most of the 0.8% individuals pay BIG money to be in these clubs! Nevertheless again, unlike the 80% who would see it as a waste, they understand the worth and that some of the most brilliant men of all time, (i.e. Carnegie, Henry Ford, Ben Franklin) all participated in the same.
The 0.8% person is perfectly immune to criticism from others…doesn’t care what most individuals think… isn’t affected by negativity on the news, from neighbors or family members. He realizes that the mass of people is almost always pathetically wrong. The 80% , they’re the masses.
So, friend, what’s it gonna be for you? 80%, 20%, 4%, 0.8%? Your actions now can finally determine your fate of your future. So choose the winning team and get started down the road to success-even in these tough financial times!

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