July 2005

Dealer Profits and Prospecting

My how time flies when we’re having fun!

It seems like only yesterday we were talking about prospecting.

Let’s recap a couple of key points that will make your efforts bear more fruit.

Point number one:

Revisit your numbers; you now have an idea of the exact effort that you need to make on a daily basis to achieve all that you want from this business.

Next you need to plan every day to make that effort.

My suggestion is start the day off prospecting. Get into the habit of determining your prospecting efforts that day, get them taken care of first and you’ll be successful at building your business.

Point number two:

Keep the phrase, “Who do you know,” at the top of your mind. This single phrase can make you more money than you’ll ever make by just prospecting or just waiting on floor traffic alone.
Remember, when you ask somebody that question, it also puts a take in their memory that you would like to know if they knew somebody looking for another vehicle. So the chances of them calling you, even when you’re not asking at that moment are greatly enhanced.
Always make a personal thank you for any referral, whether you sell the vehicle or not.
And if you do not sell the vehicle to the referral, they still own another 1.3 vehicles. So you must follow them four times a year. Follow them just like you would anyone else, because that adds to your fleet.

Point number three:

Make a diligent effort to memorize that script, and know how to adapt your version of the script to any situation in which you might be using it.
This is critical!
I’m not going to sit here and tell you that fashioning a new script. And memorizing it is easiest thing you’re going to do today.
I will tell you however, that the script is germane to what you’re doing. If you avoid putting in the effort to make that script part of how you talk, your success will be minimal, and you’ll be making prospecting a lot harder work than it has to be.
When you begin, choose a partner to help critique what you say. This critique is a necessary step in building confidence, in your mind, that what you’re saying is credible and gets the job done.

More to come tomorrow.

Risky Business

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Long time no see.

How have things been going?

The last time we “spoke” it was about the subject of grooming your
business. I mentioned to that I did not want to get into that subject at that time. You see when I made that statement I was thinking about some moderate risk involved in giving you the impression that not dealing with people he would rather not deal with might be an option.
I think I was wrong to think that way. Whenever it comes to risk, you need to weigh both ends of the equation. The bigger risk that I would be taking, would not be telling you. I would risk not exposing you to one of the biggest benefits of prospecting the I have personally experienced. This benefit is shared with many others who have become successful in their businesses.

So let’s take a step further and think about the risks involved in prospecting itself.
Let me see, what are some of the risks?
1. I suppose our investment in time could be considered a risk.
2. Then there’s the risk of offending someone.
3. About the risk of embarrassment.
4. Or the risk of feeling foolish when you’re prospecting and someone catches an up on the floor.
5. And here’s the whopper, what about the risk of realizing that you have them taking a wrong approach to your business.
I think we’ll stop and talk about the whoever. It is just human nature to guard and protect our “rightness” about ourselves and what we do for a living. I mean, after all, if we can’t be right about ourselves what else can we possibly be right about? Overcoming this natural tendency of humans so you can explore new techniques and become successful is very risky. I will never diminish that fact. It is so risky in fact, that many people fear it to the point of paralysis. What are some of the symptoms of this paralysis? Well they might come out at statements that sound like this “I tried that, it will never work”; “I just can’t seem to get the hang of this”; “I don’t quite have the perfected yet” and on and on. The term psychologist use for this is, creative avoidance. Some of the symptoms are the phrases you just read, or their close cousins. Slovenly work is another one. Inefficiencies, inability to schedule, filling one’s time with busy work are examples of others.

Real quickly, let’s take a look at that busy work. I mean really, if we are not in the process of getting onto new business, building relationships, satisfying customers, the act of selling a vehicle, or the act of delivering a vehicle, just exactly what are we doing? Take a look at your day see if you are suffering any of the symptoms of the paralysis that will render you unable to create the wealth that you should in this business. Whenever you find yourself not being productive you are cheating yourself and your potential customers. You’re cheating yourself out of the income that you deserve and all that goes with it. You’re cheating your customers from being served by a professional consultant who can help them feel good about one of the biggest investments they make.
You probably don’t remember this but one of Dombecky’s quotes went something like this “It’s what you do when you think you have nothing to do, that will make you all the money you can spend, in this business”.
So, there you have it. You have all the tools necessary to be a huge success in this business. All you need to do is pick them up and use them.
More coming next time.
Your pal, Curt

Risk by Status Quo

Long time no see.How have things been going?The last time we “spoke” it was about the subject of grooming yourbusiness. I mentioned to that I did not want to get into that subject at that time. You see when I made that statement I was thinking about some moderate risk involved in giving you the impression that not dealing with people he would rather not deal with might be an option.I think I was wrong to think that way. Whenever it comes to risk, you need to weigh both ends of the equation. The bigger risk that I would be taking, would not be telling you. I would risk not exposing you to one of the biggest benefits of prospecting the I have personally experienced. This benefit is shared with many others who have become successful in their businesses.So let’s take a step further and think about the risks involved in prospecting itself.Let me see, what are some of the risks?1. I suppose our investment in time could be considered a risk.2. Then there’s the risk of offending someone.3. About the risk of embarrassment.4. Or the risk of feeling foolish when you’re prospecting and someone catches an up on the floor.5. And here’s the whopper, what about the risk of realizing that you have them taking a wrong approach to your business.I think we’ll stop and talk about the whoever. It is just human nature to guard and protect our “rightness” about ourselves and what we do for a living. I mean, after all, if we can’t be right about ourselves what else can we possibly be right about? Overcoming this natural tendency of humans so you can explore new techniques and become successful is very risky. I will never diminish that fact. It is so risky in fact, that many people fear it to the point of paralysis. What are some of the symptoms of this paralysis? Well they might come out at statements that sound like this “I tried that, it will never work”; “I just can’t seem to get the hang of this”; “I don’t quite have the perfected yet” and on and on. The term psychologist use for this is, creative avoidance. Some of the symptoms are the phrases you just read, or their close cousins. Slovenly work is another one. Inefficiencies, inability to schedule, filling one’s time with busy work are examples of others.Real quickly, let’s take a look at that busy work. I mean really, if we are not in the process of getting onto new business, building relationships, satisfying customers, the act of selling a vehicle, or the act of delivering a vehicle, just exactly what are we doing? Take a look at your day see if you are suffering any of the symptoms of the paralysis that will render you unable to create the wealth that you should in this business. Whenever you find yourself not being productive you are cheating yourself and your potential customers. You’re cheating yourself out of the income that you deserve and all that goes with it. You’re cheating your customers from being served by a professional consultant who can help them feel good about one of the biggest investments they make.You probably don’t remember this but one of Dombecky’s quotes went something like this “It’s what you do when you think you have nothing to do, that will make you all the money you can spend, in this business”.So, there you have it. You have all the tools necessary to be a huge success in this business. All you need to do is pick them up and use them.More coming next time.Your pal, Curt

Prifits are Where You Find Them…Everywhere

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How are things going today?

Are you happy you started your prospecting efforts when you did?

Or, do you wish you had been a little bit more diligent?

I think you really starting to see that the old bromide “your reality is what you think it is.” is so very true.

Now it is time for another dose of possibility thinking.

You know, seeing those opportunities that are always there, but we need to condition ourselves to see them. (Remember the reticular activating system?)

I’ve been talking a lot about prospecting people who are not your customers. But what about those people you sell vehicles to?

Here are a couple of techniques that you might try that can help you service your owner and pick up a few prospects along the way.

Way number one:

Personally delivering license plates or anything else that your client needs after the delivery, to their place of business. A little caution needs to be observed here because of the world we live in.
Make sure client is going to be in the office when you decide to go and make sure that they have time to see you for literally five minutes. Oh, yes, and make sure you can get in into the building!

I made this discovery over 20 years ago, and it still works today. Inevitably, someone who works with your customer will ask who you are.
This could be a receptionist, or a coworker, a security guard, or just someone you’re asking directions from. It really doesn’t matter.
They all drove to work.
Once you tell them who you are and the purpose of your visit, you’ll have just separated yourself from the competition in their minds.
Not to mention opening the door to a conversation that could lead to another couple of vehicles in your fleet.
I’m not a gambling man, but I’m willing to bet that their sales consultant did not deliver similar service to them when they purchased their vehicle.

Way number two:

Help your client sell their trade. This one will require you and reward you for getting all of the information about all of the vehicles in your clients place of business or home.
Tell your client, that one of the ways you like to service their account is to help them get top dollar for any vehicle that they own if they decide to replace it.
Ask permission to call them about any of their vehicles. If you have someone that’s interested in a similar vehicle at the dealership.
Two pluses on this one. First of all, telling your client that you want to get top dollar for any vehicle that they own.
When they decide to replace it, is a great way to finesse information from a client who might not be as willing to give you that information at first.

And secondly, you have a larger fleet of vehicles to work with with any of your used car prospects. Even if you are not able to pick one from your client database, it will keep you in the running with a used-car prospect you have.

Oh yes, and this is one of the best ways, I know of keeping multiple vehicles in your fleet at the top of your mind.

These are just a couple of quick tips to get you thinking about opportunities that are there, but you’re not seeing right now.

Stretch your imagination, and you’ll stretch your income!

More to come.