Profit Meetings provide your Managers with the time and input to take the next step in improving the financial performance of their Departments
1. What is a Net Profit & Customer Happiness Meeting?
A Profit Meeting is where we spend 1 – 2 hours reviewing the financial performance of your Service, or Parts or Body Shop Operations. We examine and explain “where the numbers come from” and then listen for causative descriptions as to what led to your current performance. We compare your performance against our Targets and look for potential improvements. This is not a traditional 20 Group with a meeting facilitator who looks to the Group to come up with all its own solutions while he/she orders and signs for meals, meeting room and projector. In my Profit Meetings, if the Group cannot come up with proven high performance solutions, I am equipped with “Best Practices” from my On-Site Successes to guide the group to achieve Target Performance. We discuss real-world ways and real-world examples of how to improve performances. I also encourage personal development to take responsibility for initiating actions rather than waiting for someone to demand actions or threaten pain.
2. How often should these Profit Meetings take place?
Best results occur when these meetings are held three or four times annually. Twice per year is too infrequent, and five times per year or more does not give the participants adequate time to make meaningful changes.
3. Where will these meetings take place?
They should take place at a location that is travel-friendly from a time and cost standpoint. The purpose of these meetings is not to provide the resort atmosphere one earns for winning a year-long contest. The purpose is to re-energize the participants with great ideas and enthusiasm for moving their performance to the next level. While the atmosphere should be pleasant, there should be few distractions during this business meeting that then allows the participant to depart home quickly and begin to make a difference to their Customers, their Co-workers and their Families.
4. How long will these meetings last time-wise?
I believe one full day – 8:00 am to 5:30 pm – for Service & Parts is sufficient unless there are going to be special presentations that will require additional time. Out-of-town Participants will want to arrive late afternoon/early evening the night prior. Local area Participants may wish to spend the night in their own beds and arrive in time to join the Group for breakfast.
5. How much will these meetings cost?
The Profit Meetings are designed to keep the costs per Participant very affordable. The costs will depend on a number of factors such as whether this is a private Dealer Group function, or is an invitation-type function where Participants from various Dealerships attend. The Meeting costs will be established prior the Group’s formation and continuance. The idea is to optimize Return-On-Investment for both the Participant as well as the sponsoring Dealer.
6. What will the Agenda consist of?
The Profit Meetings will begin with introductions of new members, and a financial review. We continue with topics designed specifically to meet the Groups’ needs based on financial performance issues, current events, or participant requests. Guest speakers may be invited to address a specific issue or make a product/service presentation that the Group wants to see and hear. Where vendors present “infomercials”, we will invite them to sponsor a meal for the Group.
7. Who should attend?
The Department Heads for the Departments reviewed should attend, plus their guests such as Assistant Managers whom they “may be grooming” for their spot or another within their Dealer Group. The Dealer Operator or General Manager may also attend to ask questions, but not to critique the Participants, especially theirs. Dealers and General Managers should attend these meetings to support their Managers and these efforts. Participants must feel free to ask questions or venture opinions without fear of reprisals for these Profit Meetings to succeed for everyone.