Change is hard. I get it. But history has shown that companies which are averse to change will slowly become irrelevant, wither, and then die. Try to book a ticket on Pan-Am, rent a movie at Blockbuster, or pick up that cool new electronic gadget at Radio Shack. I’ll wait for you.
In our sense, Institutional Inertia is the tendency for a dealership to continue doing things one way, because that is the way they have always been done. Institutional Inertia is like being on the freeway, destination irrelevance.
The other day I led a meeting with our entire team to discuss this concept. Many of the tools and policies we have in place were put there when we were smaller, or at a different place in the business cycle. It’s our job, in fact everyone’s job, to constantly refine how we operate, and to refine our processes when we need to.
Operating during the pandemic has created a unique situation where many dealers have found they can do more (business) with less (people). Leveraging technology and a willingness to change can help to cement some of these changes, allowing us to lock these gains into our business.
What are you doing to set yourself up for future success?
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