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Absorption in 2024 and Beyond: The Lifeblood of Dealership Profitability Guest writer Troy Ottmer returns this week with a timely blog post for our industry: Absorption in 2024 and Beyond: The Lifeblood of Dealership Profitability. What is Absorption? In the modern dealership landscape, absorption remains a critical measure of success. Defined as the percentage of […]
Guest writer Sanjay Pendharkar brings a broader view of the equipment industry in this week’s blog post: Transforming Indian CE Dealerships: A Guide to Sustainable Profitability. Introduction The Indian construction equipment and material handling market stands at a crucial crossroads. With infrastructure development driving demand, the sector presents immense opportunities. However, dealers face unprecedented challenges […]
Putting People Ahead of Profits. Our founder Ron Slee has spent the last several weeks looking at how people make money. These thoughts have led to tonight’s blog post: putting people ahead of profits. For some time now, those regular readers of our blogs and listeners to our Podcasts have noticed my focus on customer […]
In this pathbreaking book, world-renowned Harvard Business School service firm experts James L. Heskett, W. Earl Sasser, Jr. and Leonard A. Schlesinger reveal that leading companies stay on top by managing the service profit chain. Based on five years of painstaking research, the authors show how managers at American Express, Southwest Airlines, and other well-known […]
Maximizing Profits Through Spend Management Tonight, we are pleased to introduce our readers to our new guest writer, Jennifer Albright. In her first post, Jennifer educates readers on maximizing profits through spend management. But first, allow us to introduce Jennifer Albright in her own words: My start in Procurement began unexpectedly with a temporary position, […]
3 Reasons Your Business is Not Profitable – Part 2 In Part 2 of his blog series, guest writer Bruce Baker continues to break down the 3 reasons your business is not profitable, and what to do about it. REASON #2: Not Understanding the Flow of Money It’s reportedly unhealthy for people not to breathe in […]
3 Reasons Your Business is Not Profitable – Part 1 In this first of a two-part series of guest blogs, Bruce Baker shares with us 3 reasons your business is not profitable. The real truth is that there is NO REASON why you should be working so hard and seeing little return from all your […]
Magic words: increase profits. Service Management is a very simple term to cover the many variables it contains: planning, organization, customer retention, job descriptions, praise, criticism, time management, personnel management. I could go on with this list, as the Service Management includes so much within the Dealership. With so many moving parts, how can you […]
A properly managed Service Department is critical to the financial health of your company. Customer loyalty is crucial when it comes to your success in your business. In the midst of managing the service business for the highest levels of customer loyalty, we often overlook the many ways in which profitability itself impacts the business. […]
With everything that goes on in a labor business it is easy to forget that we also have a responsibility to make money. We have to make money to be able to pay competitive wages to attract and retain talented employees. We have to make money to have available buildings and equipment that allows us […]