F&I Decisions, Decisions, Decisions!
With the new year upon us, everyone would like to increase their level of success and their income! In reality, we each write our own check. The amount of that check is based on the F&I decisions we make and the actions we take on a daily basis to achieve our goals.
The one thing that is virtually guaranteed is that many people will see their goals die a slow death as the year plays out. The daily grind of the job, unforeseen events and unending challenges will cause many to settle for the “same as last year.” Every decision you make at the beginning of the year, that produces the desired results at the end of the year, will have worked its way through three phases.
The dawn of a new year is an opportunity for agents to decide where to focus your efforts, test the limits of your commitment to your agency, and raise the bar for personal and professional fulfillment.
Phase One: Decide What to Focus On!
You have to be clear on what you want to achieve and the purpose behind it. Generic F&I decisions such as “make more money” seldom work into completion. Write it out on paper. Then share it with others who can hold you accountable. Even if you are clear on what you want, as the days go by, you might forget the reasons why you want it. The “why” is what will motivate you to follow through on your decision.
Get as specific as possible about what you want, why you want it, and how you’ll know when you’re achieving it. Deciding what to ignore will prove just as important and limit the things that can hinder your progress. The enemy of focus is distraction! Eliminate those daily distractions that take you away from the task of improving, and you are on your way to executing a record performance.
Phase Two: Decide What You Are Willing to Do to Make Things Happen!
Just committing to your goal is not enough. Success demands much more. You must be determined to be extraordinary in your efforts, to be courageous, disciplined and accountable for your F&I decisions and actions. You must have an unwavering commitment to excellence so that, despite the inevitable setbacks, it will come your way.
Everybody loves to play in the big game, whether in sports or in business. However, only the determined and committed few who have a clear focus on what they want — and then take consistent action every day to make it happen — will see the success that everyone seeks.
In business, as in sports, the game is won or lost on the practice field and the training room. You must be committed to consistently practicing your skills and make yourself vulnerable for constructive criticism. The input from a third party can be the most powerful catalyst for improvement.
As leadership expert John C. Maxwell once put it, “Life is a matter of choices, and every choice you make makes you.”
Phase Three: Decide That You Are Willing to Change to Become More Successful!
To become more successful in the year ahead, you must be willing to make the changes that create a better you. The most troublesome obstacle to success is an unwillingness to change. Each year, our goal should be to create a better version of ourselves.
A higher level of customer engagement online, before they come into the dealership, is driving a major transformation in how cars are sold, how F&I products are viewed and how we sell them. Several manufacturers have launched programs to allow a customer to buy a car online and set up financing as well to create more of an ever-changing market. An open mind, a willingness to change and adapt to this new reality will open the door to more profit opportunities.
As general agents, one of the most valuable efforts we can provide to all those we influence is to continuously challenge them to improve their performance. We have to encourage a laserlike focus on their goals, ensure they are willing to do what is necessary to achieve them, and hold them accountable for their actions. We also have to motivate them to adapt and change with a changing market.
The year ahead is full of promise. Those who make bold decisions, and are willing pay the price required to see them through to completion, will see great success. It’s going to be a great year! I look forward to seeing you on my next post. Also feel free to contact me. Exchanging ideas that get results is my passion!
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This blog article was also published on Agent Entrepreneur.