F&I Management & Training

If I hear another “expert” telling me that the UK is in recession, shows signs of Incremental Inflation or whatever buzz phrase the financial gods deign to spit at us, I am highly likely to lamp someone.

Can we perhaps grab these people by the throats and explain to them in words of few syllables the idea of a self fulfilling prophecy, and how much damage they are causing by proclaiming how dire the situation is?

These difficult trading conditions are created 50% by actual events and the other 50% by those whose sole agenda is to sell their story or to get their 5 minutes of fame on the telly.

This morning I had to stop and watch ( with mouth gaping open ) at some young woman from a top flight Accountants firm telling us that the economy will shrink, job losses will be substantial, and we are all in deep dirt until 2011.

Firstly, can I point out that I’ve been getting dirty in the motor trade long before she was soiling her nappies, and I am by no means a veteran in the business, there are many more of us out there proud of our industry, but watching it stall due to the comments made by academically brilliant young people who have absolutely no perception of the damage of their words. Not surprising really, as I suspect most of these experts have never experienced ‘work’.

Secondly, if the media hold someone out to be an ‘expert’ in a particular field, and that person proclaims doom and disaster, the effect that has on this and other industries can be profound, and not just the core deliverers, but all the ancillary industries that feed into our Motor Trade. Our customers and prospects listen to these ‘experts’, and their response is to stall buying decisions.

Here are some wise words for us all;

“If you think you can do a thing, or you think you can’t do a thing, you’re right”. (Henry Ford)

Here’s a quote that comes from my first DP, Tom Booth (evenin’ guv..).

“Improve what you can, don’t waste time on what you can’t change”.

It doesn’t matter whether you’re a Steve Archer, driving a group the size of Inchcape, or a Sales Exec at a small independent dealer – we have a choice right now to look at each and every opportunity to do business. Now is the time to be creative in the ways we do business, and now is the time to stop believing the hype of the media – reality makes it hard enough to deal profitably, lets not get sucked into the mire of attention grabbing headlines.

The stark reality is this, people are less confident about making a choice purchase right now, such as a car, boat, caravan or motorbike. In the same way that we are seeing the Banking fraternity’s reluctance to lend to each other, the domestic customer is doing exactly the same, hoarding their cash ‘just in case’.

So here’s the deal:

If you’re a Director or Manager of your business, lift your team, stop them worrying about things they can’t change. Get your team charged up and positive about your stock, model mix, location, prospect database and opportunities to do business.

Explain to them that every single walk in is a potential customer, get their chins lifted, dust their best smiles off and get them back into selling themselves, the dealership and the products.

If you’re in Sales, be proud of what you do, expect every customer to be real and genuine, take a few knocks on the chin, knowing that each time you swallow a no, you are one step closer to a deal.

If you believe the industry is on its bum, it is.

If you believe that each customer is a timewaster, they are.

And if you believe that you can sell, now is the time to prove it.

Look after each customer as if they were your Granny, listen to what they need, and give it to them. They are in your showroom for two reasons, they want to change their car, and they want your help to do it.

To close, a final quote from Our ‘Enry:

“It is not the employer that pays the wages, they only handle the money, It’s the customer who pays the wages”.

DATED: 21.10.08

FEED: PTL