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With every passing week, I find myself in conversations with dealers who say some version of, “Our expenses feel… high.” Not in a dramatic, call-the-bank kind of way. More like the slow realization that your streaming subscriptions now cost more than your first car payment and you’re not entirely sure how that happened. After a few years of wild sales swings—pandemics, inventory droughts, record …
Continue Reading about A Simple Monthly Expense Review Every Dealership Should Be Doing →
One of the unexpected upsides of writing my newsletter is that inspiration tends to sneak up on me in the most ridiculous places, like the grocery store on a Saturday afternoon. If you’re like me, you probably approach grocery shopping with the same enthusiasm you reserve for flossing or assembling furniture: it’s necessary, mildly perilous, and involves more bending than you’d prefer. On this …
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You’d be amazed what hides inside dealership accounting records. It’s like lifting the couch cushions of your financials and finding not just a few quarters, but a family of raccoons living rent-free on the balance sheet. I’ve been talking and writing about these issues for years, and somehow, the raccoons are still there. Maybe wearing little visors now, pretending to reconcile schedules. Some …
Somewhere between explaining expense as a percentage of gross to a room full of confused department heads and figuring out why the parts inventory hasn’t matched the general ledger since before Covid, the dealership CFO, without fanfare or flashlight, is expected to locate every operational flaw hiding under the hood. It’s the CFO’s job to notice the things no one wants to talk about until they …
Continue Reading about How to Identify Dealership Operational Weaknesses Before They Cost You →
