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It's never fun working for shady people. I realize "shady" could mean different things to different people, but in the end, when you work for someone you know lacks integrity or is unable to do the right thing, especially in highly regulated industries like the car business, it's tough going to work everyday and wondering if you'll have a job tomorrow. Working in an ethically compromised …
Continue Reading about Dealership Legal Liability is a Growing Concern for Employees →
You'd be surprised what's lurking in car dealership accounting records and financials. I've written and spoken about this a lot and nothing really seems to change that much. I’ve seen the same mistakes repeated again and again, with little progress toward improvement. While some dealers and general managers are aware of the issues and work to address them, for every one that does, there are …
Continue Reading about Car Dealership Accounting “Worst Practices” That Jeopardize Profitability →
Early in my career, I opened a Nissan dealership in Rosemead, California with just the owner and a small team of six others. The location had been shut down for a year before we took over. That’s where I truly learned the ins and outs of the car business, working every role in the dealership (except technician). Our location was far from ideal—so much so that it was ironic our name was “Freeway …
Continue Reading about A Blimp, a Dealership, and Lessons in Financial Stewardship →
With every passing week, I'm witness to a growing number of dealerships whose expenses have been creeping upward. It's often a topic of conversation, and after the past few years of volatile sales, some bad habits are back. One of the most dangerous habits is neglecting to conduct a monthly review of dealership expenses and where they come in as a percentage of gross profit. What caused this …
Continue Reading about A Simple Dealership Expense Control Tactic to Avoid Scary Surprises →
