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Editor's Notebook

Refocus Your Business Through Subtraction

The onset of the pandemic last year was an exercise in foresight, innovation and quick thinking for dealers to prepare their business to meet the demands of an unexpected, tumultuous year. Those businesses that thrived should be fit and well positioned for the new year. Or, are they? To keep that momentum going, dealers must continue to reinvent their business, try new things and be open to new opportunities, but also put a lid on those things that didn’t work as a means to refocus their energy and pave the way for continuous improvement and success. 

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The K&M Virtual Dealer Conference, held Jan. 20-21, offered up a generous serving of business-building seminars to help dealers continue to accelerate their business by embracing challenges and turning them into advantages.

K&M Tire Director of Training Jeff Wallick hosted a seminar titled “Constructive Disruption” where he encouraged dealers to think outside of the box to improve, better focus and streamline their business, and to examine themselves and their business with a critical eye. Following are a few key takeaways from his presentation: 

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  • “Remarkable companies are remarkable precisely because of what they don’t do, as much as what they do,” said Wallick, as he cautioned dealers to avoid these five words that kill progress: That’s What We’ve Always Done.
  • As a means to embrace “constructive disruption,” Wallick suggested dealers ponder something they could subtract from their business that would enable them to add to their bottom line.
  • Look at obvious areas of your business to spot where you can make immediate improvements. Wallick advised dealers to revisit their store hours and the number of days they’re open, re-evaluate their current tire programs and tweak other areas of their business that might need only minor adjustments.

Phil Avery, director of learning and development for Best-One Tire & Service, shared how dealers can gain more momentum in their business. It’s about being intentional about what you’re doing, he advised, as he described one key word/piece of advice to correlate with every letter of the word Momentum. For example:

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E – stands for “Even if.” Even if you’re on the right track, what can you do better? Avery emphasized that shops who do the same thing “because that’s the way they’ve done it” for years are at risk of losing momentum because they’re not trying to get better each day.

N – Need to play dominos. Avery said the key to gaining momentum is starting small and growing. A 2-inch-tall domino, for example, gains momentum by knocking down larger objects. “Think about the little items you’re going to adjust and change,” he advised.

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M – Me. Avery said that, in the end, creating momentum or change in your business starts with you as the leader of the organization. He encouraged dealers to employ one or more of the strategies learned at the conference to propel their business forward and build momentum, since change begins with them.

For additional details on these presentations, as well as full coverage of the K&M 2021 Virtual Conference, click here.

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