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Car dealers face complex financial challenges that demand expert management. The immediate challenge facing dealers today is finding and hiring expert financial managers in a severely limited talent pool. This scarcity of qualified controllers, combined with the overall deterioration in dealership financial expertise and experience, poses significant obstacles and has revealed a looming …
Continue Reading about 14 Benefits of Hiring an On-Demand Dealership CFO →
I've managed a lot of people in all kinds of dealerships over the years. The sales floor is a competitive environment filled with stressors, and each salesperson handles their stress differently. It's the responsibility of management to provide guardrails on certain behaviors while still fostering a healthy, motivated team effort in delivering excellent customer experience. I've had times where …
Throughout my retail career, I've witnessed a common misconception: labeling the dealership accounting office as a 'cost center.' This oversimplified view of categorizing departments as either revenue-generating or cost centers fails to capture the true complexity of a dealership's operations. There are two primary strategies at work when a dealership makes money: Generate revenue through …
Continue Reading about Transforming Dealership Accounting: From Cost Center to Crucial Asset →
Over the last 25+ years, I've seen some unbelievable things when it comes to dealership finances. One day, I will write a book but until then, I'll just keep sharing ways to avoid these scary and often costly situations by implementing simple protocols when it comes to money and the people who handle it. I spoke at the NIADA (The National Independent Automobile Dealers Association) convention …
Continue Reading about Cash Crunch, Tax Bills and How a Controller Can Put a Dealer in Hot Water →
