Have you ever thought of joining a 20 Group to understand how your dealership can optimize workflow, people, processes and tools to drive more revenue? If so, what stopped you? Was it the cost of travel? The frequency of meetings? Time away from the dealership?
20 Groups bring industry professionals together for focused, success-driven meetings that make a real business difference. Virtual 20 Groups open up new possibilities to use your dealership’s financial data, coupled with the results from other non-competing business owners, to create a robust financial composite to strengthen your business. These virtual workshops are moderated by experienced consultants who will share best practices, discuss challenges, and create plans for profit. They’ll use data to help you drive revenue with real, actionable insights.
Being virtual allows the group to have more frequent meetings that can drill down into specific KPIs by department and focus on common goals and challenges. It’s one thing to look at a number and see you’re behind or ahead; it’s another thing to be able to discuss why. These groups help you find the why to your questions, so you can define the purpose of what you do.
Virtual 20 Groups also give you the opportunity to include line managers in the meetings. This spreads the benefit of 20 group participation to a much wider audience and allows for a more detail-oriented discussion. Virtual 20 Groups offer a regular meeting cadence that will keep you constantly engaged and challenged in finding those “aha” moments.
In a Virtual 20 Group, the main goal is not only staying profitable, it’s also identifying new revenue opportunities in a competitive market. By using a high-quality composite report, you will be able to compare how you rank amongst dealers and top 20 percent benchmarks nationally and locally. Virtual 20 Groups can open your eyes to current and potential problems in your dealership and help you come up with a strategy to address those issues.
It’s important to find a Virtual 20 Group with moderators who will maximize the success brought to your dealership. The primary question to ask is: do these moderators have the passion and dealership experience to help you solve problems? At the end of the session, moderators will be able to give you a clear picture of what your improvements need to be. They’ll also open their schedule so group members can reach out and discuss day-to-day business as needed.
What does a 10 out of 10 look like in your Virtual 20 Group? Here are some reasons to join:
- Teamwork increases collaboration and brainstorming, which results in more ideas and a growth in productivity.
- A team works better than an individual to solve complex problems and complete difficult tasks.
- Teamwork helps you improve skills through working with people with different skillsets and abilities.
- Teamwork helps you improve your communication skills.
- Remember the old adage: T.E.A.M. = Together, Everyone Achieves More.
Belonging to a Virtual 20 Group creates constructive peer engagement to help you improve your financials, facilities, processes, procedures and CSI scores. As one dealer’s improvements are reflected in the financials of the Virtual 20 Group report, the other members will be motivated to implement the same practice. Each dealer leaves a meeting with an action list of ideas to improve their operations. The true “why” of a Virtual 20 Group is that it drives continuous improvement.
To learn more about 20 Groups visit cdkglobal.com/20groups.
Did you enjoy this article from Ron Leggero? Read other articles on CBT News here. Please share your thoughts, comments, or questions regarding this topic by submitting a letter to the editor here, or connect with us at firstname.lastname@example.org.