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Telling your story

Liz WalzA few months ago, I contributed to an article Boating Industry magazine published on competitive advantage. The core message of the article is that dealers need to be constantly reassessing their competitive advantages, especially in this economy when the marketplace is changing so fast. Then, they need to go out and tell that story to their employees, their business partners, their customers and the boating community at large. Read more >>

The new kind of dealer show

matt_new-mug3I spent the earlier part of this week attending the Nautic Global Group dealer meeting. The event was great. There was plenty of time for viewing and testing product, for meeting with NGG team members, for networking with fellow dealers, for a valuable business meeting, a series of awards, great meals, great music and just an all-around good time. This list of events within the event are what you could consider typical for your traditional dealer meeting, but there was one major difference between this year’s event and past events. Read more >>

Finding the right answers

matt_new-mug2Denny Hecker is widely known in the Minneapolis/St. Paul-area. A long-time auto dealer based here in the Twin Cities, Hecker’s career changed abruptly this year when, under the pressure of the economy, his numerous area businesses collapsed dramatically. Over the course of the last few months, Hecker’s empire has come crashing down around him in unimaginable fashion. According to the Minneapolis/St. Paul Business Journal, this is a short list of his experiences: he’s been sued by Chrysler, Ford and GM (the latter of which eventually dropped the case); 21 of his stores were foreclosed on; he’s the subject of a criminal investigation; he’s being sued for alleged fraud; several of his properties have been raided by investigators; and he has been charged with DWI. Read more >>

The culture to get you through

Liz WalzEver since I visited powersports dealership West Hills Honda last month, I’ve been thinking about how vital a company’s culture is to its success, especially in today’s economy. In a recent blog on HarvardBusiness.org, Peter Bregman described a company’s culture as “a complex system with a multitude of interrelated processes and mechanisms that keep it humming along.” “Performance reviews and training programs define the firm’s expectations,” he explained. “Financial reward systems reinforce them. Memos and communications highlight what’s important. And senior leadership actions — promotions for people who toe the line and a dead end career for those who don’t — emphasize the firm’s priorities.” At most businesses, the culture develops unconsciously, says Bergman. But at West Hills Honda, those elements were purposely crafted to create a customer focused environment that would set the business apart from its peers. Read more >>

Hook, line and sinker

matt_new-mugWhen I was seven years old, I spent a lot of time fishing with my brother and our buddies. I would ride my bike about a mile from our house, rod and reel resting comfortably across the handlebars, to an old bridge that spanned a river in the local park. Catching fish seemed incredibly easy back then. We’d fill a hook with corn, straight out of the can, and it was rare when we wouldn’t wrestle with a day’s full of fish. We caught some big fish in those days – monsters for a kid my age – but we always dreamt of a better day when we could fish from a boat. As it turns out, there are about 8.5 million fishing enthusiasts who currently are not only dreaming of owning their own boat, but they are also actually considering boat ownership, as well. Do you have something to offer them? Read more >>

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