People and Profits

Manage Your Employees Like a Successful Sports General Manager Leads His Team

Wed, 12 Sep 2018 00:01:00 -0400

I challenged readers of this column to “Make 2018 the Year of Human Capital Investment.” Training is likely a key part of your human capital investment. Below is a professional perspective on how to make training work and how to make it pay from one of my Machinery Advisors Consortium colleagues, Daniel Surprenant. — George Russell

Checking in – What's Your Progress with 2018 'The Year of Human Capital Investment?'

Sun, 02 Sep 2018 00:01:00 -0400

In January’s article, I challenged you to focus on investing in your Human Capital in 2018 given the importance of finding and developing the people that work for you — “Job One.” The goal is that by the end of the year you’ll look back fulfilled with your progress.

The ‘Value’ of Relationships

Bill.Hoeg@MachineryAdvisors.org — Sat, 09 Jun 2018 00:01:00 -0400

Under our 2018 theme of ‘Developing Human Capital,’ this article focuses on the right perspectives and practices to develop and engaged employees who create repeat customers profitably. It is written by one of my Machinery Advisors Consortium Colleagues, Bill Hoeg. — George Russell

Why do car dealers get less parts and service business after the warranty expires? Why are there so many independent repair shops to fix your car?

Small Daily Improvements Key to Long-Term Results

Sat, 07 Apr 2018 00:01:00 -0400

This headline is based on a sign posted at my gym that made me think about your business, and my challenge to “Make 2018 the Year of Human Capital Development.” I started to think about the small things that you can do with your people to develop them and your dealership. Doing small things that lead to big things is a useful perspective for you to create change with your employees and colleagues. It provides an approach for you to do every day in order to create big improvements.

Perspectives on Training: Make It Work, Make It Pay

Sat, 17 Mar 2018 00:01:00 -0400

How to Create a Culture of Collaboration & Sharing

Sat, 10 Feb 2018 00:00:00 -0500

Last month, I challenged dealership leaders to make 2018 the year to invest in human capital. I listed three calls to action and some links to recent relevant articles.

People & Profits: Make 2018 the Year of Human Capital Investment

Sat, 23 Dec 2017 00:01:00 -0500

In January, we tend to look forward to the New Year and think of what we want to accomplish.

3 Insights Into ‘Job One’

Sat, 14 Oct 2017 00:01:00 -0400

What is Job One for your dealership?

Do You Know Your Carrying Costs?

Sat, 02 Sep 2017 00:01:00 -0400

As a retailer, you must have inventory. But do you know the costs of holding machines and parts in stock? In my experience, most farm equipment dealers don’t know the hidden costs of carrying inventory — the number can be difficult to determine and most guesses are way too low.

Formulate a Short & Simple ‘Tailgate Talk’

Sat, 15 Jul 2017 00:01:00 -0400

Great leaders simplify their messages. As a dealership leader, are your messages the most powerful? Think of Ronald Reagan, often called the Great Communicator, and some of his famous messages. “Mr. Gorbachev, tear down this wall” at the Berlin Wall. Or after the Challenger disaster, “They touched the face of God.” The title of his biography by his speech writer Peggy Noonan says it best — Simply Speaking.

Challenge Directly & Show You Care Personally

Sat, 10 Jun 2017 00:01:00 -0400

“Be brutally honest.” That was the advice a dealer-principal shared at a recent best practice group that I lead. This insight got the group talking about how best to achieve good results from employees, colleagues, vendors, etc.

Manage Extroverts & Introverts Differently

Sat, 08 Apr 2017 00:01:00 -0400

What do the following successful people have in common? And why is it important?

How to Coach Your Employees (and Yourself)

Sat, 11 Mar 2017 00:01:00 -0500

A critical tasks of a dealership leader is coaching employees to perform better. Developing employees is a form of teaching. Much like teaching, managing people involves expanding knowledge, changing behaviors and encouraging performance at increasingly higher levels.

Successful Partnerships Take Dreamers & Doers

Sat, 11 Feb 2017 00:01:00 -0500

I am reading — for the second time in a year — Simon Sinek’s book Start with Why, How Great Leaders Inspire Everyone to Take Action. As I finished a chapter today, Sinek’s words reminded me of the many partnerships between dealership leaders that create great businesses, those who over a long time react well to change and execute well to keep customers, employees, manufacturers and investors happy.

How to be a Dynamically Neutral Leader

Mon, 05 Sep 2016 00:01:00 -0400

Joe Founder, who is 68 years old, has two daughters working for him. Jane is 5 years older than Julie. They’ve respected each other’s contributions for many years, and Joe thinks the dealership is stronger with both of them. Both have the option to work elsewhere.

What to Do with Disengaged Employees

Mon, 18 Jul 2016 00:01:00 -0400

In Part 1, we defined employee engagement as going the extra mile. Companies whose employees are highly engaged produce 300% better financial results, according to Towers Watson’s 2012 Global Workforce Study.

Keep Employees Engaged

Sat, 11 Jun 2016 00:01:00 -0400

How do you and your managers gain the work and commitment of your employees to perform well? How can you influence the behavior and performance of your people in positive ways?

Develop Your Best Talent

Sat, 12 Mar 2016 00:01:00 -0500

A basic axiom of team development is this: Most leaders spend too much time on their problem employees, and too little time on their best. As Stephen Covey, author of Seven Habits of Highly Effective People, pointed out years ago, developing talent is often critical to success, but since it is not urgent, it never happens. The key word here is time. Let’s discuss two aspects of this four-letter word: thinking time, and talking time.

How to Manage Your Millennial Employees

Sat, 13 Feb 2016 00:01:00 -0500

The younger generation doesn’t have the same work ethic as I do. And they want to keep changing jobs. They’re a challenge to hire and manage!”

Overcoming High Stakes Family Challenges

Fri, 16 Oct 2015 00:01:00 -0400

We’ve noticed a theme in the past few years in our work with successful equipment dealership leaders.

Assessing Leadership Talent for Growth

Fri, 04 Sep 2015 00:00:00 -0400

It’s all about people. We hear this phrase more and more as the scale of farming and farm equipment dealerships grow. We also hear it from successful dealers who must drive change in their businesses to keep pace with changes in technology, demographics and competition.

Professional Development: How to Be a Better Coach (Part 2)

Thu, 16 Jul 2015 00:01:00 -0400

In Part 1 of this two-part article, we discussed the purpose of coaching, how effective coaching strengthens accountability and how asking “coaching questions” challenges people to own and expand their capacity.

Part 1 • Part 2

Professional Development: How to Be a Better Coach (Part 1)

Thu, 11 Jun 2015 00:00:00 -0400

A coach’s job is to foster one-to-one relationships that challenge people to rise to higher levels of competence and responsibility. This article will discuss three key characteristics of an effective coach.

Part 1 • Part 2

Monetizing 'Dealership Wisdom'

Thu, 09 Apr 2015 00:00:00 -0400

What is the value of the knowledge, experience and analytical ability (or troubleshooting) that your dealership has developed in order to sell and support your customers? This ability, which has been developed over time and exists in the minds of you and your employees can rightfully be called dealership wisdom.

Article Rewind: What We’ve Covered So Far

Thu, 12 Mar 2015 00:00:00 -0400

I began writing a regular column in 2009 under the banner “Planning for Profits,” which focused on ways progressive farm equipment dealers can improve their bottom lines. In early 2012, the editorial focus changed to “Technology for Profits” — that is how dealers can and should use technology profitably. This list responds to dealers who have asked for copies to previously published articles.

Automating the Service Department of the Future

Sun, 01 Feb 2015 00:00:00 -0500

Service is without a doubt the most expensive department to operate. It occupies the most space in the dealership so it has the highest occupancy costs (heat, light, power, rent/amortization, etc.); it also employs the most people, and has the highest operating costs.

10 Things to Ask Your Business System Supplier

Thu, 01 Jan 2015 00:00:00 -0500

This column will provide you with questions you need to ask the business software provider(s) about the future capabilities of the system you use to run your dealership. These questions are not unreasonable because all of the capabilities discussed are already available in some form in farm equipment dealerships today. So to use a trite but true statement, “The future is now!”

Fight Tech with Tech, But Add Personal Touch

Wed, 01 Oct 2014 00:00:00 -0400

When it comes to online equipment dealers, you either have to fight ‘em or join ‘em.

How Technology Affects Your Parts-to-Labor Ratio

Tue, 26 Aug 2014 00:00:00 -0400

Do you use parts-to-labor ratio as a key benchmark in your operation? This important rule of thumb maintains that for every dollar of labor sales, your dealership should generate one dollar of parts sales. Both parts and service should be your dealership's most profitable departments and this ratio helps drive profits in both areas.

Why the Big Switch from PCs to Tablets?

Tue, 01 Jul 2014 00:00:00 -0400

The impetus for this month's column started with a comment from a dealer in one of our Currie Management Dealer Groups. At a recent meeting, he remarked, "Look around the room. Isn't it interesting that everyone who used a laptop computer a year ago now uses a tablet?"