Economic decisions in an uncertain business climate
Our financial world seems out of whack and will probably continue to be for the rest of the year. This leaves dealers and their customers to generate two or three business plans for the rest of the year, hoping that the plan they decide to use generates positive cash flow and at least a decent gross profit margin for the full year. I included your customers in this process because their decisions will impact both your top and bottom...
AI and Robots are aiming for dealers. Are you prepared?
Last month, we covered performance gaps and how to avoid them because if you cannot prevent them, there is a very high percentage that the company’s value will be less than it is today. Even though management would like to avoid performance gaps, doing so is a significant cost. And who wants to invest $100,000 + to do the “fix” and then find out it will not work as intended, which includes a negative return on the initial...
Does your dealership have a performance gap?
As you know, I love to review business and industry data daily. I probably read 100 emails daily and receive various industry and financial magazines monthly. I find it notable how the content today compares to what I read five years ago. Even with my financial mind, I see some of this new data requires a new level of understanding, especially if a dealer wants to keep their current competitive edge. Companies must adapt to new costs...
You know what they say…..
I hope you had a splendid holiday week! There certainly were plenty of football games to watch. Besides a wicked hockey schedule related to my grandson’s two players, which is tough to handle when you have two players on different teams, it was a fun weekend and a relaxing Christmas week. I spent a lot of time thinking about all the issues I mentioned in last month’s column and how they will impact the markets I follow,...
Tune up time
It is time once again to figure out how you did compared to last year, against budget, against cash flow budgets, and against your peers. We review the overall results and then dive into each department. Finally, you review personnel in each department in terms of “sales per employee,” gross profit per employee, and then sales and gross profits per employee for each department. Good for you if you find yourself in the top 25 % of the...
Must read: Dealers, we have an opportunity for you
Another year-end is approaching. But I’m not sure what to expect for next year. Before we do anything further, I wanted to review the AI program we have made available to you. Some of you must be thinking, WHAT IS BARTECKI UP TO NOW? Well, let me tell you. The goal is to produce a dealer standard for investigating AI, to determine if your system and data can provide meaningful data to assist customers and improve internal...
Help is on the way
According to a PwC Pulse Survey ….40% of Executives plan to implement significant reorganization, including layoffs. That is up from 23% a year ago. The changes will focus on productivity boosts and top-line growth, with technological changes leading the way to achieve the goals planned. It appears that margin compression is the key driver of the reorganization. If you cannot pass on costs to customers and remain competitive, actions...
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