Digital Dealer - December 2019 - 7

help motivate and retain key
managers. Employment and
golden handcuff agreements
can provide you confidence
that key managers fully
understand their responsibilities an incentive compensation that is intended to
promote career commitment.
These agreements can
also provide documentation
referred to as "non-competition" covenants" that give
you greater peace of mind
that a terminated or retired
key manager will not become a competitive liability
in your immediate market.

4. BUSINESS
PERFORMANCE. Before

succession can occur, your
business must first achieve
and maintain a high level
of performance. Due to
the challenges associated
with management and
ownership transition, there
is generally a predictable
drop in profits. For that
reason, a constant review
of business performance
metrics is critical to generate
sufficient profits before the
time of transition to fulfill
reasonable cashflow needs
and expectations through

the next generation.
Evaluating the
performance of your
business involves more
than just looking at money
and profits. Other critical
areas include looking
at where your business
stands compared to your
competitors, ensuring
that your company and
employees are working as
effectively and efficiently
as possible. Also, you must
consider how your business
is prepared for the future
with respect to technology
advances, market changes,

D I G I TA L D E A L E R . C O M

contracting margins, and
more demanding customers.
5. STRATEGIC PLANNING. This process is a

collaborative initiative in
which you, supporting family
members, and key management discuss and confirm
the vision and mission of
the organization, as well
as the resources needed
to achieve business goals.
The outcome of the strategic planning process is a
detailed action agenda that
addresses items such as
short-and long-term goals,
Continued on pg. 8

DECEMEBER 2019

7


https://paymentcloudinc.com https://paymentcloudinc.com http://www.DIGITALDEALER.COM

Digital Dealer - December 2019

Table of Contents for the Digital Edition of Digital Dealer - December 2019

Digital Dealer - December 2019
Online Extras
Four Keys to Build a Better YOU
9 Areas That Build Value in Your Dealership
From Speculating to Selling: Overcoming Sales Challenges with Technology
For Sustainable Profit – Build a Purchasing Department
Meet the Marketing Mastermind Speaking at Digital Dealer Orlando
Get a Jump on Making It a Great New Year
Job Management Makes or Breaks Your Bank
Interview with Derek DeBoer of TC Chevy
Elevate Your Year-End Sales Event with Immersive Instagram & Facebook Stories
It’s Time to Move Beyond the Chaotic Dealer Website Experience
The Power of Used Car Marketing
9 Benefits of Doing a Year-End Social Media Audit
Auto Brands and Dealers Need to Move Toward a ‘Tierless’ Marketing
A Case for an Efficient 2020 Dealership Advertising Budget
4 Critical Components of Effective Sales Training
Five Tips to Improve the Sales to Service Handoff
Seasons of Opportunities
Digital Dealer - December 2019 - Digital Dealer - December 2019
Digital Dealer - December 2019 - Cover2
Digital Dealer - December 2019 - 1
Digital Dealer - December 2019 - Online Extras
Digital Dealer - December 2019 - 3
Digital Dealer - December 2019 - Four Keys to Build a Better YOU
Digital Dealer - December 2019 - 5
Digital Dealer - December 2019 - 9 Areas That Build Value in Your Dealership
Digital Dealer - December 2019 - 7
Digital Dealer - December 2019 - 8
Digital Dealer - December 2019 - 9
Digital Dealer - December 2019 - From Speculating to Selling: Overcoming Sales Challenges with Technology
Digital Dealer - December 2019 - 11
Digital Dealer - December 2019 - For Sustainable Profit – Build a Purchasing Department
Digital Dealer - December 2019 - 13
Digital Dealer - December 2019 - Meet the Marketing Mastermind Speaking at Digital Dealer Orlando
Digital Dealer - December 2019 - 15
Digital Dealer - December 2019 - Get a Jump on Making It a Great New Year
Digital Dealer - December 2019 - 17
Digital Dealer - December 2019 - Job Management Makes or Breaks Your Bank
Digital Dealer - December 2019 - 19
Digital Dealer - December 2019 - Interview with Derek DeBoer of TC Chevy
Digital Dealer - December 2019 - 21
Digital Dealer - December 2019 - 22
Digital Dealer - December 2019 - 23
Digital Dealer - December 2019 - 24
Digital Dealer - December 2019 - 25
Digital Dealer - December 2019 - 26
Digital Dealer - December 2019 - 27
Digital Dealer - December 2019 - Elevate Your Year-End Sales Event with Immersive Instagram & Facebook Stories
Digital Dealer - December 2019 - 29
Digital Dealer - December 2019 - It’s Time to Move Beyond the Chaotic Dealer Website Experience
Digital Dealer - December 2019 - 31
Digital Dealer - December 2019 - 32
Digital Dealer - December 2019 - 33
Digital Dealer - December 2019 - The Power of Used Car Marketing
Digital Dealer - December 2019 - 35
Digital Dealer - December 2019 - 9 Benefits of Doing a Year-End Social Media Audit
Digital Dealer - December 2019 - 37
Digital Dealer - December 2019 - Auto Brands and Dealers Need to Move Toward a ‘Tierless’ Marketing
Digital Dealer - December 2019 - 39
Digital Dealer - December 2019 - 40
Digital Dealer - December 2019 - 41
Digital Dealer - December 2019 - A Case for an Efficient 2020 Dealership Advertising Budget
Digital Dealer - December 2019 - 4 Critical Components of Effective Sales Training
Digital Dealer - December 2019 - 44
Digital Dealer - December 2019 - Five Tips to Improve the Sales to Service Handoff
Digital Dealer - December 2019 - 46
Digital Dealer - December 2019 - Seasons of Opportunities
Digital Dealer - December 2019 - 48
Digital Dealer - December 2019 - Cover3
Digital Dealer - December 2019 - Cover4
https://www.nxtbook.com/nxtbooks/digitaldealer/202004
https://www.nxtbook.com/nxtbooks/digitaldealer/202003
https://www.nxtbook.com/nxtbooks/digitaldealer/202002
https://www.nxtbook.com/nxtbooks/digitaldealer/202001
https://www.nxtbook.com/nxtbooks/digitaldealer/201912
https://www.nxtbook.com/nxtbooks/digitaldealer/201911
https://www.nxtbook.com/nxtbooks/digitaldealer/201910
https://www.nxtbook.com/nxtbooks/digitaldealer/201909
https://www.nxtbook.com/nxtbooks/digitaldealer/201908
https://www.nxtbook.com/nxtbooks/digitaldealer/201907
https://www.nxtbook.com/nxtbooks/digitaldealer/201906
https://www.nxtbook.com/nxtbooks/digitaldealer/201905
https://www.nxtbook.com/nxtbooks/digitaldealer/dd26showdirectory_042019
https://www.nxtbook.com/nxtbooks/digitaldealer/201904
https://www.nxtbook.com/nxtbooks/digitaldealer/201903
https://www.nxtbook.com/nxtbooks/digitaldealer/201902
https://www.nxtbook.com/nxtbooks/digitaldealer/201901
https://www.nxtbook.com/nxtbooks/digitaldealer/201812
https://www.nxtbook.com/nxtbooks/digitaldealer/201811
https://www.nxtbook.com/nxtbooks/digitaldealer/201810
https://www.nxtbook.com/nxtbooks/digitaldealer/201809
https://www.nxtbook.com/nxtbooks/digitaldealer/201808
https://www.nxtbook.com/nxtbooks/digitaldealer/201807
https://www.nxtbook.com/nxtbooks/digitaldealer/201806
https://www.nxtbook.com/nxtbooks/digitaldealer/201805
https://www.nxtbook.com/nxtbooks/digitaldealer/201804
https://www.nxtbook.com/nxtbooks/digitaldealer/201803
https://www.nxtbook.com/nxtbooks/digitaldealer/201802
https://www.nxtbook.com/nxtbooks/digitaldealer/201801
https://www.nxtbook.com/nxtbooks/digitaldealer/201712
https://www.nxtbook.com/nxtbooks/digitaldealer/201711
https://www.nxtbook.com/nxtbooks/digitaldealer/201710
https://www.nxtbook.com/nxtbooks/digitaldealer/201709
https://www.nxtbook.com/nxtbooks/digitaldealer/201708
https://www.nxtbookmedia.com