How to explain basic financials to new managers

How to explain basic financials to new managers

UNDERSTANDING BASIC FINANCIALS is a common challenge faced by newly hired managers, whether you promote from within the dealership or bring in a new person from the outside. How do you prioritize the immediate training they will need to succeed in their new position?...

5 Key Areas That Separate Average and Great Dealerships

Gordon Ramsay of the television show Kitchen Nightmares exposes some of the worst restaurant practices, leadership skills, and building conditions. Unfortunately, many dealerships are cooking up and serving as many unproductive activities and images as those seen on...

Feedback is a gift

THIS TITLE is not an oxymoron. I’m writing this article for two critical reasons: First, feedback is required for us to improve performance. Second, most supervisors cringe at the thought of providing performance feedback to employees. And it gets worse. I’ve talked...

Do your managers and staff think like owners?

AT A DEALERSHIP, just like any business, there are two critical things required to survive: 1. turn a profit 2. generate cash Yes, many other things are important, including customer experience, employee morale, safety, marketing, and branding, to name a few. However,...

Surviving in a Toxic Family Work Environment

Let’s begin by stating that the senior leaders of a dealership are responsible for creating a workplace culture that fosters high morale and productivity. Having said that, there are both family and corporately owned enterprises that fail to live up to this...

Financial Management and High Performance

“A successful dealership is like a successful sports team – not only should the manager be keeping his/her eye on the ball, but so should each team member.” The above is from Kelly Mathison’s article in the 2018 spring edition of Western Equipment Dealer and it’s...
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