I guess if I am going write a blog that holds dealers’ feet to the fire, it should come at a time when I’m not at the helm of a central station. I really want to challenge dealers, especially those who are having a tough time growing or at least maintaining their annual revenue stream.
Albert Einstein once described the definition of insanity as, “Doing the same thing over and over again and expecting different results.” Everyone should reflect on this quotation and ask if it applies to the way they run their company.
As I travel the country I find that most dealers are doing the same thing over and over again, while expecting different results. Many dealers today seem to have trouble embracing how new technologies can become a major benefit to their business. Nor do they realize the profits they are losing by rejecting these technological changes or enhancements.
Do you expect to increase your profits by continuing the same business strategy year after year? If so, how long do you expect the method will work, especially given our current economic climate? Why is it that some dealers are in real dire straits and others are experiencing banner performance, year after year? I’ll tell you why! Because the dealers that are open to change and daily evaluation of their organization and value propositions — and who are not afraid to adapt and embrace change — always seem to move forward.
This leads to my suggestion of where you should look first to begin diversifying your portfolio of services. Most of the large national wholesale central stations are offering dealers a host of traditional and non-traditional services. Take a step back, spend time with central station management and conduct an in-depth look at what these services provide and how you can change the complexion of your business. Consider services such as remote video and access control, environmental monitoring, personal emergency response (PERS) alerts, just to mention a few. Many services such as these would be great components in helping you increase your revenues.