Daily Team Preparation and Accountability:
Practice: Show up consistently and prepare for daily team meetings.
Rationale: Consistency and preparation set the tone for the team, fostering a culture of responsibility and engagement.
Strategic Inventory Management:
Practice: Adhere to a solid turn policy (45 or 60 days based on market conditions).
Rationale: Holding oneself accountable to inventory turnover ensures proactive decision-making and responsiveness to market demands.
Real-time Online Presence Monitoring:
Practice: Check online dealership presence every morning, focusing on vehicles lacking online activity.
Rationale: Being aware of online engagement helps in adjusting marketing strategies and identifying underperforming vehicles promptly.
Focus on getting cars priced, described, and pictured fast.
Practice: Within the first 15 minutes of aquisitioning a vehicle, have a compelling description and price to market. Have vehicles fully pictured with at least 15 pics within 24-48 hours of acquisition.
Rationale: Understanding the dynamics of getting cars fully merchandised and online is of the utmost importance to get attention and start catching leads
Embrace First Loss as Best Loss Philosophy:
Practice: Manage inventory based on market conditions, not just on acquisition
Rationale: Acknowledging that the first loss is the best loss promotes strategic
Comprehensive Daily Reviews:
Practice: Conduct daily reviews encompassing staff, inventory, online connections, leads, and performance statistics.
Rationale: Regular reviews ensure a holistic understanding of the dealership's operations, enabling swift adjustments and improvements.
Focus on People, Products, and Processes:
Practice: Prioritize the alignment of cars, customers, and consultants through daily engagement.
Rationale: Bringing together these key elements fosters a thriving dealership environment and enhances overall performance.
These habits encompass a strategic blend of people management, inventory oversight, online presence, financial focus, and a commitment to continuous improvement. By adhering to these practices, highly effective used car managers can navigate the dynamic automotive market successfully.
-Jean "Coach" Rollins
Inventory Specialist
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