As a Veteran and an airplane enthusiast, I consume a lot of content at that intersection. I found an interesting video on YouTube that detailed a unique lesson learned by the Military during WW2. In the later years of the war, as we began large scale bombardments of the German motherland, the losses of large numbers of planes due to AAA (anti-aircraft artillery) ratcheted up. But not every airplane damaged by flak went down. Many limped back home, were repaired, and then sent back into battle.
When some of these shot-up airplanes returned to base, they were analyzed and cataloged. Part of this process is called BDAR, Battle Damage Assessment and Repair. Designers started identifying the areas on the planes that were consistently damaged, and then worked to improve the armor and systems that were located in these weak spots. The problem with this process was that if a plane went down over enemy territory, the damage it had suffered was not included in the analysis.
At some point, some smart guy (or gal) realized that instead of focusing on the areas of the planes that were damaged, where they needed to focus their efforts was on the locations of the plane outside of these commonly damaged areas. That’s because the planes that were getting hit in those other spots were the ones that went down over enemy territory, and there was no opportunity to analyze them. Once the Military began to strengthen these other areas of the plane, survivability began to increase. When designers began to focus on the areas they couldn’t see, instead of those that they could, the designs began to improve.
When I’m working with dealers, I often refer back to this process. GMs often hire managers who act and think like they do, instead of hiring team members who bring new skills to the table. Marketing people double down on advertising the products that have done well in the past, instead of looking for “opportunity product”, items that are underserved in the marketplace. Sales Managers keep ordering the same product that has been selling well for the last year (and also the same product that all the other dealers in the area are ordering). Finance Managers keep using the same lenders, and Parts Managers keep ordering the same 10W30 oil. You get the idea. I’m not saying that we are all caught in a rut, but by design, we are creatures of habit.
As many of you begin planning for 2022, I challenge each of you to spend some time focusing on your areas of weakness, not your areas of strength.
- Identify vehicles and products that might serve an overlooked customer base that’s located in your market
- Hire a Manager from a different industry (a baker, a plumber, or a veteran) and give them the space and ability to try new things
- Market your business in new areas and with new mediums. Have you tried ads on Pandora? They are targeted and cheap. Given up on billboards? Every time I drive anywhere the roads are packed.
- During the slow season, get your Finance Manager to meet and greet the local Bank Managers. Savings are at an all time high, and many financial institutions are struggling to find things to do with their vaults full of cash.
- Meet with the team, and identify things they are spending their own money on. If it’s compatible, look at adding these items into your parts and accessory departments.
The opportunities for improvement are endless. Selling new products to underserved markets can be extremely lucrative, but we have to be willing to try new things. Don’t be put off by failure. We all make mistakes. The difference between achieving incredible success and trudging along at the status quo is whether or not we are challenged by the mistakes that we have made.
It’s not easy for all of us to be introspective, to be critical of our own abilities, but learning to do this can open up a myriad of new opportunities. Most dealerships have incredible teams of employees that they have assembled. Give those employees the opportunity to open up and be honest. Ask them to explain what they’d do if they were in your position. The best ideas often come from the far corners of the dealership, and often by the newest members of the team.
Now go out and conquer the world!
#Success #Failure #Strengh #Weakness #Opportunity #Powersports #Marine