Overseeing the daily administrative duties that are part of managing an independent dealership can be a time-consuming, tedious process. From keeping track of paperwork, returning customer phone calls and processing payments, organization is a key component to keeping everything moving smoothly. Here are some tips to keep your dealership running as efficiently as possible:
1- Identify Problem Areas
Figure out what tasks need to get accomplished each day and identify any challenges you run into on a routine basis while getting those items tackled. Make sure you ask your staff for their input too since there may be some issues you’re not even aware of. Identifying problems and figuring out ways to solve them is the only way to make improvements.
2- Create a Game Plan
Once you have a good understanding of what needs to get done and have identified known roadblocks, it’s time to decide how you want to tackle them. Do you need to hire additional staff with new skillsets, or can you train current team members in those processes instead? Should you look into investing in new technology to help you manage your daily needs? For example, if your issue is having trouble remembering to make payments on your floor plan, NextGear Capital clients can simply sign up for reminders inside their Account Portal. Having an industry partner who can help dodge obstacles is a huge value to independent dealers. However, knowing what areas you need to focus on is always the first step in tackling any problems that may come your way.
3- Stay Organized
Nothing will throw off your productivity more than disorganization, so find a system that works for you and make sure you stick to it. If you need help keeping all of your vendor and partner information up to date, you can use Account Portal to do so. You can also use it to update your contact information including your personal email and phone number. All changes happen in real time, so it’s one less thing you have to worry about staying on top of.
Under your User Profile, you will see editable fields for:
Three security questions and their answers
You may also want to set up Enhanced Registration in your Account Portal, which allows only authorized users to make changes to your account by utilizing a designated PIN number.
4- Define Responsibilities
Make sure you clearly communicate changes with your staff. Don’t assume that people will eventually figure out what changes need to be made and who’s going to do what. People are often apprehensive of change, but if you can explain why those changes are being made, they’re not only more likely to adapt, but willing to take on new responsibilities as well.
5- Be Adaptable
Don’t assume that once changes are made everything will run smoothly. You need to continue monitoring how everything is running and stay connected to your team to ensure employees communicate any issues they’re encountering. Be willing to make changes to the new processes if needed. You should also stay on top of any new updates available for the software you’re currently using as it could include new features that can continue to improve the way your business runs.
Check out our other Account Portal video tutorials and start getting MORE out of your floor plan today!
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*Certain conditions apply. All rights reserved. Subject to the terms of dealer’s Demand Promissory Note and Loan and Security Agreement with NextGear Capital. Certain valuation information is licensed from and provided by third parties as denoted. Advances made in California are subject to NextGear Capital’s California Finance Lender License, #603G505.