What can we do to finish out this quarter and the entire year off strong?
By this time in the year most dealer leaders, managers and business owners have a good feel for what their first quarter brings and what their year-end numbers will look like throughout the year for service! So far, the service market has been a good one for many, but I believe there is even more available when we understand how to maximize facility utilization, performance and profitability. So:
- How does it look to you?
- Have you met your business growth and financial goals?
- Are there perhaps some thoughts to the assessment of wishing you had done more?
- What is the plan for next year?
- How can you do better?
- How can you improve the final results come December 31st?
The truth is there is much you can do about it right now. There is plenty of time to bring about meaningful change that will further improve the final results or alter your current trajectory of growth.
Results are determined by what you have done throughout the year so far in the prior months. All other quarters can be planned and even predetermined and you are simply waiting for time to pass to confirm your efforts and results.
While it’s always a great time to plan, the winter is always a great time to start to thinking of and looking toward the end of the year to limit the process of wishing you had done more. In January you are keenly aware of the New Year in front of you and business development is at the forefront of your thinking.
By April your attention turns to making it to summer and vacation plans are in the sights for many. Life is full of busy and you are trying to hold on to the wild ride of life and business ownership. Not much planning is done the rest of the year. Many just ride the wave and try to make it to the end.
The bottom line is that if you want to make a difference in your business this year as well as next year, you should begin working on the rest of the year as well as next year’s plan today.
Here is a simple but helpful guide to assist you to begin planning for a great year and next year performance, today.
Planning always begins with an assessment of the current reality. Once this becomes clear goals, cures and next practices begin to emerge and form the basis of an actionable plan. Answer these key questions and your improvement plan will begin to emerge:
- What steps can you take that will help you increase the volume of your service work?
- How do you get more jobs into the service department, done properly and out the door?
- What key personnel do you need, but don’t have?
- What training do you provide that will help you influence growth revenue optimization?
- Is there additional staff that is required to support and enable your growth plans?
- What are your biggest profit killers, and what can you do to put an end to them?
- Is a true team effort being put in by the service staff?
Keeping a higher percentage of what you earn is a smarter growth strategy than trying to find new sources for more work.
- What mistakes have you made that need to be undone and what corrective action will that require of you?
- What steps does the dealership have in place to further improve customer retention?
- What steps should you take to improve your per job profits?
- Is the parts department running at the speed of service?
- What can be further improved there?
The better you do with this the greater your cash flow, cash reserves, and organizational wealth.
- What is the #1 problem you need to fix now?
- Is it personnel, management, supervision, procedures, or something else?
Talk to your crew, to your management team, to fellow employees about these questions and issues and find some answers and solutions. This effort will form the basis for an emerging action plan to make this year and next year’s business performance better than the past.
Teamwork does not happen on its own! Don’t just wait for growth to occur, take charge and be proactive. There are so many opportunities for growth available to today’s dealers, leaders managers and business owners for growth.
If you want your dealership organizations service and sales business to grow, you can start the process by planning and taking action today.
The Bottom line: If you want to grow your service sales business tomorrow you need to get started thinking about it and taking more action today. Finishing strong this year requires that you have a business plan for growth revenue optimization in place for the rest of this year as well as next year this year.
There are some additional strategies available to you that can add significant revenue over the next 9 months, should you or your team need assistance, please feel free to give me a call at any time.
Note: You have to plan, take action and work your way into Intentional Profitability! Get SMART!