5 New Years Resolutions for the Successful Business Manager

The Year is 2020... The mass of the world is influenced by what they see on their handheld devices, the youth of our time has become more educated every day, and an industry we once thought as "relatively" straightforward and simple is just, well, complicated. Do we sit back and allow the endless waves of change to dictate our daily routine? Do we continue to slide into the age-old tale of complacency and justify slipping performance with every outside factor possible?

OR

Do we take charge of this industry shift, establish focus and commitment to change, and ultimately plan for success in the new year ahead? Well if you have read this far i'll just go ahead and assume you're with me on the latter. Below you will find the 5 resolutions you can adopt to ensure you make the most of all 2020 has to offer.

1.Commit to Being More Involved in Your Sales Staff Meetings and Discussions

In a market that has changed how a customer purchases a vehicle, it's of no question that the business office has suffered in potential, arguably against some old-school opinions, for the better. Higher transparency, compliance, and regulations have put stress on all areas of a dealerships operations.

But in reality, this just forces us to up our game. A great place to start is using open discussion and increasing your involvement with the team. After all, you share the same vision right? It seems to be a common theme at various stores, Finance Managers don't feel like they need to be morning meetings or group discussion but truthfully despite this feeling you provide value by just being present.

If your Sales Management team has decided to hold morning meetings at 9A.M for all sales associates, being there does multiple things. Shows your peers you are dedicated to their process, and supportive of it. This also shows your sales associates (the most important customer you have) that your right there with them, on time, and ready to plan for the day. In those meetings held specifically with management, demand your presence and commit to providing valuable insight. This will give you (as a finance manager) a better understanding of potential shifts in direction that could affect your business, and allow your sales managers the chance to see things from your point of view also. Collaboration is powerful and effective.

2.Focus on Establishing Trust in Your Sales Staff, and Management Team

We have witnessed this many times.. The rift between departments. Often just caused by inflated egos and lack of understanding. The most toxic poison to plague the performance of both the business office and the sales department is lack of communication. In 2020, its time to effectively communicate your thoughts to your team in ways that will help improve moving forward. The key word here being effectively.

Here is where you need to start. Your peers want all the same things you do. Sell more cars, make more money, and grow their business. Kind of sounds like our goals right?

Luckily, building trust is simple (not to be confused with easy). Be okay with taking one for the team. Most common area? Tough deals. They happen, and they will never go away so what is the point of changing your entire mood and energy around one difficult to handle deal? Instead, use this as a chance to build a relationship with your sales staff and remember that this will help you in future deals to come. I can remember the days of selling vehicles, it often took the most time to close a customer who had unrealistic budgets, was paying cash, and had 4-5 competing brands providing options you needed to overcome. It was quite deflating to have been told "Wow, what a bad deal". Let's try and shift this verbiage for 2020, into "looks like this one was tough to put down, lets get it down the road quickly so we can focus on the next one?" or "Looks like this one was tricky, but you have to take the good with the bad, i'm sure the next one you get for me will be good so lets focus on getting this one down the road without a hitch"

Handling situations like this, in areas other than just taking a tough deal, help your team see you as a team player. Still focused on what really matters but willing to put that aside for the good of the store. Win-Win right?

3.Find and Maintain Consistent Training

Products change, vehicles change, customers change, banks change.... I could probably go on forever about change. Expecting everyone else to improve in order to benefit your ends is just selfish and ineffective. Adapting and growing in this key area of your career can be done in two different ways

Individually - Dedicate a specific time in your week to learn a new skill. Could be an hour, could be 10 minutes. Could be an online article, or even reaching out to a college having success in certain areas. Some read books, some listen to podcasts, but ultimately consistently sharpening your saw will give you an edge and allow you to provide meaningful insight to your processes and to your team also.

As a Team - Find time, perhaps once a week, to provide some value to your team. Could be a specific deal you took that allowed you to learn something New. Maybe it was a sales associate who said something specific that made your job easier. In a previous management roll, this existed for me on Saturday Mornings. This was my spot to discuss with the team which banks provided the best options for customers, show the team value in our products, open up discussion about process, and heighten the awareness for what we are doing in our day to day. I have often found the best learning came from my customers and my team.

4.Better Turn-Overs, More Rapport with Customers, and Gather More Info

The highest performing managers in the finance office I have met over the years have been good primarily at one skill. Rapport.

It all goes back to "Like-Listen-Believe-Buy". This year, I challenge you to spend more time getting to know your customers. This always starts with a proper Sales Associate Turnover. Take this time to gain info, learn the motivations to purchase, buying habits, family, lifestyle and so much more. For me this, has become a expectation. None of us want to "call for a credit app" as that just removes all opportunity to build a relationship with that customer.

In addition, meeting all customers before they leave is paramount. Make it an expectation to even say hi, introduce yourself, let them know exactly who it is that will be reaching out to them at a later time. Treat all encounters with your customers as a chance to create meaningful connections regardless of how small. First impressions last the longest, if you can be a memorable face to your customer prior to contacting them at a later date it can go a LONG way towards supporting your success.

5.Lastly, Make Time To Do The Things You Love

Have you ever taken the time to track your time spent in the store? At times I expect the hours on that time card would be absurd! Balance is huge for your success, its not simply about being at work 24/7, taking every deal, and exhausting all your energy into work. This is my primary area of focus this year having spent a bulk of my time behind a desk.

Maybe its spending a few days a week at the gym, joining that flag-football league you've always pushed off due to scheduling, or picking up that instrument you haven't played since high school. Spend some time with your significant other, meet up with family and friends, or book that vacation you have always put off. Dedicating some effort to other areas of your life provides balance. It allows you to be more focused on your tasks each day at work, and have other things in your life to look forward too. Learn to detach from the jungle and you'll find it becomes easier to boost performance.

The direct outcome of 2020 can only come from you. Sitting back and hoping it all falls into place or relying on others to do all the heavy lifting for you can only push you further an further from your goals. Have some of your own resolutions made? I would love to hear them. Share it in a post or comment below and lets make 2020 the best year yet!