Workbook and Study Guide for the Master’s Program in Dealer Management
This Workbook and Study Guide brings together significant elements of all texts in “The Master’s Program in Dealer Management” into a Profitable Dealer Strategy Development and Operations Improvement Program.
The seven texts include:
- Workbook and Study Guide
- 25 Profit Building Tools for Machinery Dealers
- Achieving Excellence in Dealer/Distributor Performance & Reader’s Guide
- Strategies, Tactics, Operations for Achieving Dealer Excellence & Reader’s Guide
- The Dealer Problem-Solving Workbook and Study Guide
This Workbook and Study Guide is designed for the Dealer Principal/Senior Executive who wishes to improve the overall profitability, market share, cash flow and customer retention of the dealership. It also serves as a “leader’s guide” to organizational development and positive change. I have included many of the operational analysis exercises and discussion assignments from my ” Master’s Program in Dealer Management Workshop ” with detailed instructions on how to best utilize them in your sales and profit improvement efforts.
Be sure to carefully review the “Road Map for The Master’s Program in Dealer Management” illustrated below. Here you will see how the book is organized and how content from each text contributes to the development of your Remedial Action Plans. Chapter numbers 1 – 24 on the Road Map indicate what is covered in each section.
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Sections 1 – 3 provide an overview of the entire process and all Dealer Managers should do the reading assignments and complete the exercises.
This Workbook and Study Guide offers special areas of investigations relevant to the interests of three groups of managers: Owners/Financial Managers, Service and Parts Managers and, Machinery Sales and Rental Managers. The first section offers Principals opportunity to explore and assess the capabilities, strengths and weaknesses of the entire enterprise. This review from the Owner’s perspective focuses on identifying obstacles and opportunities for increased profitability, cash flow and market share.
Service and Parts Mangers are asked to dig deeper into operations to identify ways to increase their contributions to Absorption Rate through substantive improvements in sales, margins, market share, cash flow and customer retention. Major emphasis is given to labor productivity, technician training and development.
Similarly, Machinery Sales and Rental Managers are challenged to examine all aspects of how they go to market, reach sales targets, achieve Gross Profit Margin expectations, build profitable market share, nurture Key Accounts and develop a highly professional and skillful sales team. Major emphasis is given to sales rep start-up, training and development.
In these sections we begin the process of pulling together all the investigations completed to this point. You and your entire management team are looking for those four or five significant actions that, if executed, will fundamentally change your business and bring you up to the next level.
Each Revenue Center should have their Action Items written on a one-page plan with disciplined procedures to measure quantitative progress. Make certain that you are generating maximum cash through optimum asset turns and maximum margins and Achieving 100% Absorption Rate in your 5th Year.
For example, accomplishing these four performance levels would fundamentally change your business and clearly place your operations in the High-Performance, High-Profit category:
- Attain 85% of Available Aftermarket Business
- Achieve 92% Off-Shelf Fill Rate at 5 Turns
- Reach 95% Deal Visibility for Your Primary Product Lines in Your Most Critical Customer Segments
- Score and Maintain 100% Absorption Rate