As we approach the time of year when our thoughts begin to wander towards the objectives for 2018 and budgeting for growth, I thought it prudent to revisit Einstein’s famous quote on the definition of insanity; “Doing The Same Thing Over And Over Again And Expecting Different Results!"
Unashamedly I quote Einstein regularly on this as I feel it can bring some clarity to the whole process of planning for growth year on year, and in terms of the focus that this planning process requires. I work on the premise, (quite rightly), that if you continue to do the same things in your business, you will continue to achieve the same results, thus the fact that expecting the outcome to be any different, or expecting to just deliver year on year growth to your used car operation, is madness.
The importance of planning, (both financially and operationally), for the growth of your used car operation must never be underestimated; if the success of your new car business and your total business as whole, is dependent on having a growing and successful used car operation, (and I promise you it is), it is important that time is taken to think about the used car growth objectives for the next year and what will be required, in terms of financial and operational investment, in order to ensure that the objectives for growth are going to be achieved.
And the more successful your used car operation becomes the more involved this process becomes and to compound matters, the focus for growth and the investments required to deliver growth over and above your current level of performance, changes year on year dependent on where you are in your growth journey.
So we can’t even take it for granted that the process that got you to where you are today, will necessarily be the focus for where you want to go tomorrow; for sure we mustn’t be in a rush to change what has got you to where you are today, (it has worked after all), but the operational structure and financial investment that got you to here, may be unrecognisable compared to the operational structure and financial investment required, in order to get you to where you want to go! So quite understandably this process can take much thought as well as a level of strategic knowledge and experience, and once you have identified what is required for the growth aspirations for next year, you have to make sure that all the components required to achieve the objectives, are in place within the business before the year begins. You may need more staff, you may be at the stage where you need to split your teams and amend your operational procedures within the business; you will certainly need more used car stock and more money/improvements in your current rate of stock turn, in order to be able to run with the stock levels required to achieve your growth objectives, and perhaps much more?
Unfortunately there is also the inconvenient truth that the used car professionals required, those with the skills and experience required to plan these strategies of used car development for your business, and then deliver on them are unlikely to be employed within your organisation; a fact that was covered in our recent article; Do Successful Used Car Professionals Exist For Franchised Dealers?
So at this critical moment for your business and the sector as a whole, many franchised dealer networks are finding that the professionals required to begin to plan and deliver success in the used car market are not available, and worse, you don’t know where to find them either.
This whole process can be bewildering but it is where Autoformance can help, with our Strategic Budgeting Review Consultancy Day. Normally this bespoke consultancy module would be delivered as part of our Used Car Business Development Consultancy Programme, but it has proved to be so popular and requested year on year by our clients, that we have decided to offer this service as an individual days consultancy for new clients.
Delivered by one of the founding directors of our business, during the day on site we will review the key business areas of attention required in budgeting and planning, for the growth of your used car operation, including;
- Stock Turn Review.
- Staffing structure including departmental and individual targeting.
- Used car stock acquisition.
- Current budgeting review.
- Cyclical demand.
- Stock levels and profiling.
This day on site will also encompass a presentation to the senior management team and a written report including our recommendations, aligned specifically to your growth aspirations for next year.
So if this post has resonated with you and you would like to know more about our Strategic Budgeting Review Consultancy Day, as well as the opportunity to work with an organisation of professionals who have faced the challenges of fast paced evolutionary markets, and know how to develop a successful and profitable used car operation on your behalf, (in order to keep your new car and total business objectives growing and on track), then we would very much like to hear from you.
The owners of Autoformance have owned and run successful used car operations and been at the forefront of the development of approved used car programmes for a host of manufacturers. If you would like to book your Strategic Budgeting Review Consultancy Day, you have any questions about the day, or you would like to have an exploratory conversation regarding our services and how we can develop bespoke used car business development and consultancy programmes on your behalf, please do not hesitate to contact one of our Used Car Business Development Directors; Andrew Banning at ajb@autoformance.com or Malcolm Thomas at mgt@autoformance.com
Alternatively please feel free to call us on 07796 260261, Andrew Banning, or 07834 600642, Malcolm Thomas.
For more information about our services please visit our website at www.autoformance.com
Andrew Banning.
Used Car Business Development Director.
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