F&I and Showroom, Industry Summit 2016

www fi magazine com 78 F I and Showroom Industry Summit 2016 MAD MARV W Its Not Magic BY MARV ELEAZER Welcome to Industry Summit 2016 here in beautiful Las Vegas Youve made a wise choice to sacrifice time away from your store so make the most of it I have been in attendance every year for the last decade I cant tell you in this short space all the great things Ive learned and how much it has changed my stores outlook on F I I have also forged lifelong relationships with some of the greatest people in this industry The tips and techniques youll learn in the short time youre here can have an immediate impact on your process so make sure you listen up take notes and absorb everything you can And dont be afraid to introduce yourself to the trainers and colleagues you pass in the corridor or the expo hall Those few minutes of exchanging ideas and swapping tips can sometimes be your biggest takeaway Now no matter how intense or informative those workshops and one on one interactions will be they arent magic It takes determination to be successful and improve in this business Have you ever watched Breaking the Magicians Code Magics Biggest Secrets Finally Revealed The host is a masked magician who performs incredible tricks and then reveals how simple his methods really are I have learned it takes months to design each illusion and build the expensive customized equipment he needs to complete the effect Professional finance managers perform similar acts of defying the odds when a customer has been patiently worked by the sales department and wont budge another penny I often chuckle when I read about a salesperson warning an F I manager not to even present product or try bumping the customer for a service contract or anything else The reason This customer will blow out if you do Instead the customer emerges from the F I office to take delivery after having moved his or her own budget another 100 for protection products The salesperson shakes his head in disbelief not understanding how the same customer who wouldnt budge on the price will happily pay much more to make certain his or her expensive investment is protected Its not magic Its just a good decision Youve read my disdain for some of the electronic gadgets promoting lofty claims with no actual proof These things appeal to our human nature We all want to find some quick and easy way to do our job better You can but not on a circuit board You have to read study and practice Self analysis is one of the main building blocks of a successful and profitable F I department Its not magic So here you are at Industry Summit You have already spent the money and time it took to get here You came with a made up mind that training and sharpening ones tools is paramount to improving Good choice If youre not moving forward in your career youre going backwards Lets return to the magician for a moment This guy trains and trains relentlessly to perfect an illusion to the point he can do it in his sleep But like any professional he knows that even the slightest maladjustment on stage during a show can have drastic consequences and blow the effect That is why he and his assistants rehearse over and over again until they know exactly what to do no matter what F I works much the same way In addition to the physical process of data input and gathering of stips there is a process that leads to an ideal conclusion namely that the customer chooses whats best for his or her situation by watching a professional presentation of all the available products Objections are handled smoothly because the F I manager has role played every possible scenario Youre here because you want to increase penetration levels or move your per copy average another 50 and you need another tool or technique in the pursuit of perfection I implore you to drill down into the mind of every trainer you have a chance to meet March up to the microphone during the Q A at the end of each session and remember that the only bad question is the unasked one Good luck and keep closing ABOUT THE AUTHOR Marv Eleazer is the F I director at Langdale Ford in Valdosta Ga Email him at marv eleazer@ bobit com His Madness welcomes you to Industry Summit and reminds F I pros everywhere that production and profitability requires practice skill and continuing education SO HERE YOU ARE AT INDUSTRY SUMMIT YOU HAVE ALREADY SPENT THE MONEY AND TIME IT TOOK TO GET HERE YOU CAME WITH A MADE UP MIND THAT TRAINING AND SHARPENING ONES TOOLS IS PARAMOUNT TO IMPROVING GOOD CHOICE IF YOURE NOT MOVING FORWARD IN YOUR CAREER YOURE GOING BACKWARDS