The View From The Top

Every industry measures the performance of its employees in terms of the good, the bad, and the mediocre.  The standards are especially high in the automotive field, where competition is tight, and the stakes are high.  A Finance Manager who is unethical, unorganized or underachieving won’t be around long.  The position is too vital to the dealership’s reputation and/or profit margin to allow a single employee to jeopardize it.  To succeed in the automotive finance, you have to be the best.  What is the difference between the truly exceptional Finance Manager and those whose careers are plagued by mediocrity?  A commitment to constant improvement. 

No one aspires to be average, nor should anyone settle for being so.  Average means that there is plenty of room for improvement.  Others can, and will, surpass you.  The true professionals are those who earn top dollar and are primed for promotion.  They take pride in their work, and strive for perfection on each deal.  “Good enough” never is.  Are they, or will they, ever be perfect?  No. However, in their quest for perfection, they are able to consistently rise above the others.  This is the reason people invest their time and money to attend classes or seminars – they want to be the best that they can be. No matter where they are in their careers, they keep moving forward.  

What exactly is their secret? There are several. 

THE PRESENTATION

• Don’t just memorize a script. Most customers do not want to sit through a rehearsed script or presentation.  In fact, they will feel extremely uncomfortable.  If they suspect that you are simply feeding them a scripted presentation, they will not respect or trust you.  You will be seen as just another salesman.
• Make the presentation your own. Include examples and illustrations from your own experience.  Personalization is one of the best ways to build rapport during your presentation.  The stronger your interpersonal connection with your customer, the more successful you’ll be.   

PREPARATION AND PRACTICE

• Practice the menu presentation until it is flawless.  Fumbling or shaky presentation will translate to incompetence or untrustworthiness.  If you have confidence in yourself, your customers will, too.
• Deliver the same package presentation to every customer without prejudice.  If you assume that a customer isn’t going to be interested in a product, you’re depriving yourself of an opportunity to overcome their objection. The chances may seem slim, but you have no chance at all if you don’t try.
• Become an expert by learning the dealership’s aftermarket products thoroughly. If you don’t know the answer to a question, don’t make one up.  Admit it, and say you will find the correct answer for them.  Customers will appreciate your honesty.  In the end, your honesty will be much more valuable than the few moments of false expertise you generated with your fake answer.

ANALYSIS

• At the end of every shift, analyze each deal and calculate the results.  You have to know where you are now if you want to chart a course for a new destination.
• Assess what went right, what went wrong, and what can be learned to improve the next day’s figures. 
• If you have a counterpart, brief him on all outstanding deals and their status.  You have to examine every aspect of your performance, and that includes how well you and your partner are working together.
• Apply these same analytical skills to longer periods of time.  By examining your performance on a weekly and/or monthly basis, you’ll be able to track any recurring patterns that may not be apparent in your daily reviews.

STANDING

• Know where you stand in regards to your own established average. If your figures aren’t consistently improving, further analysis is necessary.  There may be some essential detail that you’ve been overlooking.  
• Know where you stand in comparison to the dealership average, regional average, etc.  Think of it as climbing a ladder – it’s important to know your position, and where the other rungs are.