Digital Dealer - January 2020 - 17

Process & Performance

DEALER OPS & LEADERSHIP
By
Ryan Kerrigan
Managing Director,
Kerrigan Advisors

Preparing for the Industry Ahead
Leadership training for the next generation of auto retail leaders

>

There is general consensus that the
auto retail industry is in for material
change in the years ahead. Many
auto retailers may not be adequately
preparing their leadership pipeline
for those changes on the horizon. For the
organizations and families who seek to
continue operating in auto retail, it's time
to start evaluating your leadership training
and the skills your leaders will require to
succeed.
Historically, auto retail's critical mass has
enabled the industry's extensive training
programs and networking groups which are
unique to our industry. In fact, I suspect few
industries can match auto retail's training
and peer sharing. By way of example, for
decades NADA has operated large educational programs aimed at all levels of the
dealership organization, commonly known
as NADA Academy.
On the peer sharing side, 20 groups
actively compare metrics and share best
practices amongst dealers - a construct
rarely seen in other industries, and yet
a staple in automotive retail. Many auto
retailers are also proud of the fact that their
leaders and prospective leaders started
"sweeping the shop floor" and have worked

January 2020

every role inside their dealership as they
rose through the ranks - understanding the
business from the bottom up. And, some
auto retail families insist that the next generation work for other auto retailers before
coming back to the family business to gain
the skills necessary to some day run their
dealer group.
These training approaches share one
thing in common: they are all intra-industry, and they focus on deep learning about
the current business model, rather than
focusing on the future business model. This
training is no doubt valuable for playing
functional roles within the company, e.g.
service managers and parts managers.
However, in an era of consolidation, tighter
margins, technology disruption and higher
financial stakes, these historical training
grounds will not prepare most of tomorrow's auto retail leaders.

Critical New Skills Supported by a
Strong Foundation of Old Skills
There is no doubt that auto retail leaders
will still have to excel in the core ways that
have always been important to our trade,
particularly the soft skills. Our leaders are
generally exceptional at motivating are

well trained in sales processes and instill
competitive, metrics-oriented cultures.
As the consumer-facing component of the
automotive industry remains, those core
competencies will continue to be critical to
success.
However, our evolving industry will also
add new leadership and management skills
that will be key to future success. Of those
new skills, I believe the following three will
prove to be the most important.
„ Instilling organizational culture
„ Technology road-mapping
„ Developing financial acumen
Tomorrow's leaders will have to combine
the industry know-how of their predecessors with critical skills in business strategy
and financial analysis. Many of these skills
will be obtained from outside the industry through a four-year college degree,
post-graduate programs such as an MBA,
and/or professional management experiences perhaps with a Fortune 500 corporation or a rising start-up.

Instilling Organizational Culture
Auto retail organizations are getting bigger. Slow, steady consolidation is creating
increasingly larger organizations, even at

[ d i g i t a l d e a l e r. c o m ]

17


http://www.digitaldealer.com

Digital Dealer - January 2020

Table of Contents for the Digital Edition of Digital Dealer - January 2020

Digital Dealer - January 2020
Up to Speed | Tech, Dealer News, & People on the Move
Interview With Facebook
Culture Seven Key Rules of Culture
Reputation & Loyalty What’s Your Dealership’s Reputation Worth?
Vehicle Valuation Discontinued Sedans Demonstrate Remarkable Staying Power in Terms of Valuation
Process & Performance Preparing for the Industry Ahead
Exclusive Interview With Liz Dimmitt of Dimmitt Chevrolet
Digital Dealer: What's New & What's Next
Video What’s Working in Auto Tv Advertising
Social Media Intelligent Social Media Strategy
Content Strategy Ad Copy Power Points!
Video Next Wave of Mobile-First Revolution
Social Media Mastering Social Media
Lead Handling 5 Ways Dealerships Lose Online Leads
Process & Performance Retail Resolutions to Drive Results
Fixed Operations the Fluid Fails Before the Part: A Sales Opportunity!
Customer Experience Make the Customer Experience Fun and Boost Sales
Social Seen | Snapshots of the Auto Retail Scene
What's Ahead | Auto Retail Vendors Announce Solutions Headed to Nada 2020
Digital Dealer - January 2020 - CT1
Digital Dealer - January 2020 - CT2
Digital Dealer - January 2020 - Digital Dealer - January 2020
Digital Dealer - January 2020 - Cover2
Digital Dealer - January 2020 - 1
Digital Dealer - January 2020 - 2
Digital Dealer - January 2020 - 3
Digital Dealer - January 2020 - 4
Digital Dealer - January 2020 - 5
Digital Dealer - January 2020 - 6
Digital Dealer - January 2020 - 7
Digital Dealer - January 2020 - Up to Speed | Tech, Dealer News, & People on the Move
Digital Dealer - January 2020 - 9
Digital Dealer - January 2020 - Interview With Facebook
Digital Dealer - January 2020 - 11
Digital Dealer - January 2020 - Culture Seven Key Rules of Culture
Digital Dealer - January 2020 - 13
Digital Dealer - January 2020 - Reputation & Loyalty What’s Your Dealership’s Reputation Worth?
Digital Dealer - January 2020 - 15
Digital Dealer - January 2020 - Vehicle Valuation Discontinued Sedans Demonstrate Remarkable Staying Power in Terms of Valuation
Digital Dealer - January 2020 - Process & Performance Preparing for the Industry Ahead
Digital Dealer - January 2020 - 18
Digital Dealer - January 2020 - 19
Digital Dealer - January 2020 - Exclusive Interview With Liz Dimmitt of Dimmitt Chevrolet
Digital Dealer - January 2020 - 21
Digital Dealer - January 2020 - 22
Digital Dealer - January 2020 - 23
Digital Dealer - January 2020 - 24
Digital Dealer - January 2020 - 25
Digital Dealer - January 2020 - Digital Dealer: What's New & What's Next
Digital Dealer - January 2020 - 27
Digital Dealer - January 2020 - Video What’s Working in Auto Tv Advertising
Digital Dealer - January 2020 - 29
Digital Dealer - January 2020 - Social Media Intelligent Social Media Strategy
Digital Dealer - January 2020 - 31
Digital Dealer - January 2020 - Content Strategy Ad Copy Power Points!
Digital Dealer - January 2020 - 33
Digital Dealer - January 2020 - Video Next Wave of Mobile-First Revolution
Digital Dealer - January 2020 - 35
Digital Dealer - January 2020 - Social Media Mastering Social Media
Digital Dealer - January 2020 - 37
Digital Dealer - January 2020 - 38
Digital Dealer - January 2020 - 39
Digital Dealer - January 2020 - Lead Handling 5 Ways Dealerships Lose Online Leads
Digital Dealer - January 2020 - Process & Performance Retail Resolutions to Drive Results
Digital Dealer - January 2020 - Fixed Operations the Fluid Fails Before the Part: A Sales Opportunity!
Digital Dealer - January 2020 - Customer Experience Make the Customer Experience Fun and Boost Sales
Digital Dealer - January 2020 - 44
Digital Dealer - January 2020 - Social Seen | Snapshots of the Auto Retail Scene
Digital Dealer - January 2020 - 46
Digital Dealer - January 2020 - 47
Digital Dealer - January 2020 - What's Ahead | Auto Retail Vendors Announce Solutions Headed to Nada 2020
Digital Dealer - January 2020 - Cover3
Digital Dealer - January 2020 - 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