The market is terrible – we might as well all jump off a bridge – you go first
We get worse and worse news about the industry every day. February will be the lowest SAARS rate since 1982. Dealer profitability is at its lowest point since 1991. The stock market is below 7000 for the first time since 1997.
Notice anything similar about those facts? They all happened and we’re all still here.
Times are tough, there’s no denying it – but there’s a difference between thriving in this market and merely surviving it. We have dealer after dealer having relative success in this market. You don’t have to be any different.
The difference is attitude and effort.
Attitude - If you are convinced the end of the world is coming to an end, it will – or at least the someone will take advantage of that fear. Take the fable of Chicken Little – while eating lunch, an acorn falls on Chicken Little’s head. Chicken Little thinks the sky is falling and she has to tell the King. On the way to see the King, Chicken Little finds animal after animal and tells them story of the sky falling. They’re all convinced and travel in a pack to see the King. A fox offers them help – and then eats the whole group. What’s the moral of the story? TURN OFF YOUR TV. The world is not coming to an end. Don’t be whipped into a frenzy by the wave of pessimism. Be a fox.
Effort - There is a new world in the auto industry. There are no more easy sales. There is less and less showroom traffic. Buyers are even more resistant than ever before. Fewer vehicles are going to be delivered. Money is tighter. These problems are going to create opportunities for those of us ready to take advantage of them.
There is less competition in the market. Weaknesses can be capitalized on. Competitors are retreating. Are you on the gas peddle or the brake? Being on the gas peddle doesn’t mean reckless or out of control – it means actively moving forward.
At my company, we have a philosphy about the common question of the glass being half-full or half-empty. This a question designed to classify people from all walks of life into two simple and distinct categories: an optimist or pessimist. We like to think there’s also the realist – the person who can see the glass for what it really is without sugar-coating or begrudging the truth. The realist sees that the glass has only reached half of its true potential and puts together plan to achieve full potential without letting emotion stand in the way of reason.
Think twice and develop a realistic, positive attitude. Realize times have changed are and set forth massive effort. Stop putting a spin on reality and maximize your potential.
I’m more than happy to let the competition dial it back while we stay on the gas pedal. Please do – it only makes my job easier.