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Dealership Valuation Services Blog

Outlast the Outliers!

Posted on: December 30th, 2023

I wanted to condense “the latest and greatest” of what I have learned the past several years evaluating and appraising dealerships.  I keep coming back, however, to two things that have not changed.  The two biggest drivers of dealership success are:

Dealer Principal Engagement – A Dealer Principal actively involved in day-to-day management, especially investing in mentoring a team that can make strong decisions, proves to be the best “super-power” to embrace the new while staying true to proven practices.

Systems & Procedures – The most successful dealerships consistently use systems that help the team pay attention, record metrics, review them and use the information to improve. Who engaged with us and what happened during that process?  It could be as simple as a sales traffic log in Excel.  There are many great techno-whiz apps you can buy, but what I have NOT seen is a correlation between complication and success.  Keep it as simple as possible to get the job done!

Every day, and certainly every year, bring us new, unexpected and challenging situations outside our control. An engaged Dealer Principal and established systems enable the team to outlast the outliers!

Happy New Year!