top of page

Profit Protection



Many of you have read from our team here at Lotpop over the last several weeks, and many within our industry have echoed or shared the same sentiment: OUR MARKET IS AND CONTINUES TO SHIFT. 

 

The need to ‘get back to the basics, ' the need to ‘train our people,’ and the need to ‘be fundamentally sound.’  All these things come at a price. But what price are you willing to pay now to have Profit Protection for your future? What you do today will mortgage your future. 

 

Profit protection comes with several doable steps:

  • Your Ultimate goal should be to increase your POTENTIAL OVERALL PROFIT.  Remember that used cars are a profit center that fuels each department within your dealership.

  • Take account of your steps here:

    • Are you driving a strong PROCESS instead of the simplicity of attacking PRICING OR PROFIT?  What steps or procedures do you have to ensure you are attacking the product and the process before you eject to the easy default of pulling the profit lever?

    • What is your plan for deciding how to utilize today’s clock when managing time for your PEOPLE? Are you dictating QUANTITY OF ACTIVITY versus QUALITY OF ACTIVITY? Maybe the most important factor is reviewing your PROCESS to make sure what you are doing is on with a PURPOSE to work activity for NOW PROFIT!

More simplistically put.  Do your processes, and how your team executes those processes have any direct correlation to the activity on what you have in stock right now?  Are the activities you are creating through your resources of software giving you the margin of time you need to push positive activity for positive gross? 

 

We need to stop the cycle of working on processes that do not directly reflect simultaneous volume and gross. Stop ignoring the activities you can do to protect your profit right now.

 

I encourage each of you who are already dealer partners of ours to lean harder into your Performance Engineer for even more industry insights.  Let them deep dive into your existing processes, and don’t be resistant to changes they find for the activities that you have in place.  If you are not a Lotpop client, I implore you to have a conversation with us as soon as possible.  Before you know it, you will be staring down the barrel of Q4 and scrambling to make a successful year in 3 short months.


-Chris Keene

Sr. Director of Sales

0 comments

Recent Posts

See All

Comentarios

Obtuvo 0 de 5 estrellas.
Aún no hay calificaciones

Agrega una calificación
bottom of page