Your dealership's P&L statement is the most important report in your business. But just looking at your P&L regularly is not enough. You have to learn to speak its “language.” 

All of us are looking for ways to generate new business. There are two basic ways to accomplish this: do more with the customers that you have or increase the number of customers you serve. While both are effective, one is much more limiting. The greatest gain comes in finding ways to bring in more customers.

In our industry, we are faced with technological changes in nearly every aspect of what we do. Automotive systems are evolving and changing. How we interact with our customers is evolving and changing. It is important to recognize these changes and act upon them at the right time in order to keep our businesses thriving.  

Let’s be honest - a few of you read the headline of this article and thought I was referring to one of the many tire brands that you sell. This is certainly not unexpected, considering our industry and the various tire brands that are out there. However, there is one brand that means more to your business than any other. It is built and tested everyday, but not inside a manufacturing plant. 

This is the time of year when your dealership is ramping upward and into the spring selling season. As such, if you were not already looking to add staffing, you may be now. Here's how to attract and land those "big fish" who will help move your business forward.

"If the pandemic has taught us anything, it is to expect the unexpected," says Jeff Morgan. "Having plans in place for every possible calamity prepares you and your business to 'weather the storm.'" In this MTD exclusive, Morgan tells you how to get ahead of potential crisis situations - and how to manage those that do occur.

With 2020 drawing to a close, it’s time for you to work "on" your business, not "in" your business, according to tire industry expert Jeff Morgan, who shares practical, profit-generating action items that will set your dealership up for a successful 2021.