Power Past the Competition

How to Achieve a 50% plus Closing Ratio

John Latka — Wed, 17 Jan 2024 05:00:00 -0400

In this episode, John talks about what it takes for sales teams to achieve 50% plus Closing Ratios. Starting with the vision, listeners will hear about the critical elements needed to get there, like servant leadership, management by objectives and
S.M.A.R.T. goal setting.

In addition, John talks about relevant ratios, correlations and what needs to be measured to succeed in realizing the vision.

The Impact of Wholesale Values on Trade Appraisals

John Latka — Wed, 15 Nov 2023 05:00:00 -0400

In this episode, John Latka welcomes Carson Way, President of Carson Exports and Dave Feaver, General Manager – both with extensive experience in the wholesale and retail side of the used car business.

Whether you’re a new car dealer with a used car department or an independent used car dealer, you’ll want to hear Carson’s deep dive into the definition of true wholesale market values and how to stay on top of them.

Dave addresses questions regarding trade-in appraisals including why it can take days for customers to get a trade value at some dealerships.

Listeners will gain valuable knowledge and insight into trade-in appraisals and the importance of true market wholesale values in retail automotive.

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https://www.automotivebusinesssolutions.com/

Smoke and Mirrors or Transparency

John Latka — Fri, 20 Oct 2023 12:00:10 -0300

In this episode, John Latka asked ChatGPT about the use of smoke and mirrors, and transparency in retail automotive. John shares what ChatGPT has to say about each one in clearly defined overviews.

The episode also addresses what consumers should be on the lookout for when visiting dealerships.

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https://www.automotivebusinesssolutions.com/

Customer Satisfaction Surveys – According to ChatGPT

John Latka — Fri, 15 Sep 2023 05:00:00 -0300

To create the content for this episode, John Latka asked ChatGPT the following two questions:

What are the top pros and cons of automotive customer satisfaction surveys?
Should customer satisfaction surveys be tied to a dealership’s income?

Tune in to hear ChatGPT’s answers.

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https://www.automotivebusinesssolutions.com/

Falling Into a Bucket of Shit and Coming up Smelling Like a Rose

John Latka — Tue, 15 Aug 2023 05:00:00 -0300

In this episode, John talks about success in business as a multifaceted concept that goes beyond just the bottom line and while financial profitability and the "bottom line" are crucial indicators of a business's health and sustainability, they are not the only factors that determine success.

Listeners will hear some other important dimensions to consider when measuring business success as John points to a broader set of indicators.

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For more information:
https://www.automotivebusinesssolutions.com/

Rearranging Deck Chairs on The Titanic

John Latka — Fri, 28 Jul 2023 05:00:00 -0300

In this episode, John Latka talks to his listeners about the 8 main reasons behind the constant churn in retail automotive sales and its impact on both the industry and the sales professionals.

This sector continues to be plagued by a persistently high turnover rate among its’ sales force. So, what can be done about it? Listen to this episode and find out.

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https://www.automotivebusinesssolutions.com/

Big Data, KPI’s, and Horse Manure

John Latka — Thu, 15 Jun 2023 05:00:00 -0300

In this episode, John Latka talks about big data, what it is, how it works and its uses, along with a few key takeaways.

John also shares his thoughts on data in Dealer Management Systems, CRM’s and KPI’s. He also addresses the need for simple tools, training, and ongoing support for salespeople.

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https://www.automotivebusinesssolutions.com/

Back-Stabbing, Corkscrewing and Dirty Dealing

John Latka — Mon, 15 May 2023 05:00:00 -0300

In this episode, John Latka talks about the public’s negative perception of car salespeople and how that came about.

Listeners will also hear where sales car salespeople stand as it pertains to the most trusted professions.

Sadly, John agrees there are some rotten apples out there, but the majority are simply honest, hard-working go getters trying to make a better life for their teams, themselves, and their families. Not to mention trying to support and improve their communities.

Tune in and find out what John has to say about breaking the cycle of negativity.

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https://www.automotivebusinesssolutions.com/

Management and Leadership – is There a Difference?

John Latka — Sat, 15 Apr 2023 05:00:00 -0300

In this episode, John Latka talks about management and leadership.

Listeners will hear answers to the questions, “what is management” and “what is leadership?” In addition, John talks about the traits of managers and leaders along with what managers and leaders do.

Other questions that are answered in this episode include: “what are the similarities between managers and leaders, and “how do you measure the effectiveness of managers and leaders?”

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https://www.automotivebusinesssolutions.com/

When Stars Align, Closing Ratios Soar!

John Latka — Wed, 22 Mar 2023 05:00:00 -0300

In this episode, John Latka talks about how setting SMART goals is the foundation to a successful month in sales.

Listeners will hear how a salesperson at a small-town dealership not only met, but exceeded his projections and achieved an 83.3% closing ratio.

In addition, John talks about keeping things simple by focusing on the critical few KPI’s necessary for sales success.

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https://www.automotivebusinesssolutions.com/

Are You Primed for Sub-Prime?

John Latka — Wed, 15 Feb 2023 05:00:00 -0400

In this episode, John Latka interviews Kim MacPherson from Buy It Smart Auto. Kim is an expert in sub-prime financing and those who want to learn more about it need to tune in.

Listeners will hear answers to a series of questions including; what skills does a sub-prime financial services manager need to have in order to be effective?

With even more opportunities in sub-prime financing on the horizon, this is one podcast you don’t want to miss.

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https://www.automotivebusinesssolutions.com/

You Can't Handle The Truth!

John Latka — Sun, 15 Jan 2023 05:00:00 -0400

In this episode, John Latka talks about “Truths” in the automotive industry. He addresses the lack of discipline, the lack of effective leadership and the iceberg of ignorance.

John then talks about 10 Truths that need to be addressed by managers. He then wraps up with Truths about processes. This is a must listen to episode for those in the automotive industry.

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https://www.automotivebusinesssolutions.com/

Stop Whining, Count Your Blessings and Be Thankful!

John Latka — Thu, 15 Dec 2022 05:00:00 -0400

In this episode, John Latka talks about whining and why it should be stopped. We all know it’s impossible to avoid whiners altogether, but the good news is, that if you’re sick of listening to their ongoing negativity, there are a number of ways to deal with them. John shares six.

As a bonus tidbit, listeners will also hear about Theodore Roosevelt’s take on whining. Not to mention a number sample whines.
He then wraps up with some examples of things we can be thankful for, especially at this time of year.

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https://www.automotivebusinesssolutions.com/

Get Off Your High Horse, You Horse’s Ass

John Latka — Tue, 15 Nov 2022 05:00:00 -0400

In this episode, John Latka talks about bad managers, their traits and behaviours. He also addresses how their approaches impact the employees and teams in their charge.
The purpose of this podcast is not only to point out the signs of a bad manager, but to raise awareness and help managers fix those pitfalls and manage teams more successfully.

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For more information:
https://www.automotivebusinesssolutions.com/

It Ain’t Rocket Science

John Latka — Sat, 15 Oct 2022 05:00:00 -0300

In this episode, John Latka highlights a LinkedIn post by Brandin Wilkinson that outlines a couple of marketing initiatives that were extremely successful. In addition, listeners will hear about another strategy that helped a dealership drive traffic to their showroom in the month of December. These scenarios go to show that Warren Buffet’s quote: “it is not necessary to do extraordinary things to get extraordinary results,” is so true.

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https://www.automotivebusinesssolutions.com/

You May Be Right, I May Be Crazy

John Latka — Thu, 15 Sep 2022 05:00:00 -0300

In this episode, John Latka talks about how dealerships could transition from a Transactional Model, which ties salespeople to the dealership, to a Relationship Approach, which would have salespeople spending less time on Showroom Duty and more time on building relationships with customers in order to promote repeat and referral business.This concept would have Free-Range Days when salespeople would not have Showroom Duty. Instead, they would have the flexibility to work from any place they choose. If chickens can be Free-Range, why not salespeople?

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https://www.automotivebusinesssolutions.com/

My Sales Manager is an Idiot!

John Latka — Mon, 15 Aug 2022 05:00:00 -0300

In this satirical and humorous episode, John Latka takes on the persona of a salesperson who is sharing his thoughts and perspectives regarding his Sales Manager and all the things he’s expected to do to sell a vehicle. Sales people and Sales Managers alike who believe in structure, processes and accountability, will appreciate the way John turns a negative rant into an overview of the sales process.

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https://www.automotivebusinesssolutions.com/

Receptionists – The multi-tasking superheroes

John Latka — Fri, 15 Jul 2022 05:00:00 -0300

In this episode, John Latka talks about Receptionists – The multi-tasking superheroes. Tune in to hear as he talks about automated attendants versus people who answer the incoming calls. John also addresses the attributes and duties of a professional receptionist. In addition, you’ll hear how a receptionist handled a particular situation that ended up in a vehicle being sold.

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https://www.automotivebusinesssolutions.com/

Service Advisors – The Unsung Heroes

John Latka — Wed, 15 Jun 2022 05:00:00 -0300

In this episode, John Latka talks about Service Advisors. Tune in to hear why he considers them the unsung heroes of dealerships. In addition, John reviews the process Service Advisors have to follow, with a focus on the interactive service walk around. Listeners will also hear about John’s most recent experience in a dealership’s service department.

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https://www.automotivebusinesssolutions.com/

Employee Development

John Latka — Sun, 15 May 2022 05:00:00 -0300

In this episode, John Latka defines and talks about employee development, including the high cost of losing talent. Listeners will hear why an employee development program helps with job satisfaction and nurtures employee retention. In addition, John also addresses the three major factors in the employee development process, along with the levels of learning and skill development.

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https://www.automotivebusinesssolutions.com/

Nicknames

John Latka — Fri, 15 Apr 2022 05:00:00 -0300

In this lighthearted episode, meant to put a smile on your face, John Latka talks about nicknames and shares his findings on some of the basic research he did.

Listeners will hear some nicknames that were based on behavior, some on physical appearance, and to the best of John’s knowledge, were given based on affection and amusement.

John starts off the list of nicknames with the ones that he was given over the years. In addition, he shares the backstories that prompted the nicknames.

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https://www.automotivebusinesssolutions.com/

Teamwork

John Latka — Tue, 15 Mar 2022 05:00:00 -0300

In this episode, John Latka talks about teamwork - and how success in sales revolves around teamwork and includes the service and parts department teams – not to mention the team who works at detailing the vehicles.

He also shares the perspective that, high-performance sales teams are known by their ability to function at a high level for extended periods of time. And that teams of this calibre come in many shapes and sizes, and there is no one team model that is right for every business.

In addition, listeners will hear about the many foundational characteristics that underpin most high-performance teams.

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https://www.automotivebusinesssolutions.com/

Perseverance

John Latka — Tue, 15 Feb 2022 05:00:00 -0400

In this episode, John Latka talks about perseverance - a continued effort to do or achieve something despite difficulties, failure, or opposition. He shares one man’s perspective of what each letter stands for or means, in the word perseverance.

In addition, listeners will hear a prime example of perseverance in the person of a well-known and recognizable historical figure.

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https://www.automotivebusinesssolutions.com/

Back To Basics

John Latka — Sat, 15 Jan 2022 07:31:34 -0400

In this first episode for 2022, John Latka talks about getting back to basics.

Listeners will hear quotes on the topic from some well-known people. John also shares some insights on how to get back to basics both
personally and professionally and highlights 5 basics of successful selling. You’ll also hear about product knowledge as a critical basic skill.

In addition, listeners will hear about the basics of the buying and selling process.

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https://www.automotivebusinesssolutions.com/

Favorite Quotes

John Latka — Mon, 20 Dec 2021 05:09:00 -0400

In this final episode for 2021, John Latka talks about some of his favorite quotes.

Listeners will hear quotes from poets and preachers, from people in sports to philosophers and from business people to scientists.

The topics range from sincerity and enthusiasm to attitude. You’ll also hear about perseverance, commitment and excellence. Not to mention, success, goals and simplicity.

Hopefully, some or all will resonate with you.

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https://www.automotivebusinesssolutions.com/

Emails

John Latka — Mon, 13 Dec 2021 05:00:00 -0400

In this episode, John Latka talks about emails. And just like all forms of communication, there are pros and cons, advantages and disadvantages to email. The biggest advantage of email is a lot of room for content. On the other hand, the biggest disadvantage, is that email is often perceived as a bunch of clutter and or just spam. And sadly, most times, it’s not given the same immediate attention as a text.

Listeners will hear about email etiquette along with a number of helpful hints in writing professional emails, including appropriate language,
spelling, grammar and manners. Not to mention how to structure professional business emails.

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For more information:
https://www.automotivebusinesssolutions.com/

Texting

John Latka — Mon, 06 Dec 2021 05:00:00 -0400

In this episode, John Latka talks about texting. You’ll hear about the pros and cons, the do’s and don’ts, along with relevant etiquette. You’ll then be able to decide, if and when, texting is the right fit for your intended message.

John also addresses when and where it’s not appropriate to use texting.

And in addition, you’ll hear some helpful hints to make your texting efforts more efficient and professional.

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For more information:
https://www.automotivebusinesssolutions.com/

Outbound Phone Calls

John Latka — Mon, 29 Nov 2021 05:00:00 -0400

In this episode, John Latka talks about Outbound Phone Calls.

The highlights of this week’s episode include: reasons to make outbound calls, technique, opening statements, leaving voicemail and the benefits of scripts or outlines.

John talks about how and why outbound calls to customers and prospective customers should be a part of every salesperson’s daily routine.

Listeners will find out how to avoid making nuisance calls by changing their approach to opening statements. And in addition, you will hear some helpful hints along with the process for outbound calls.

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For more information:
https://www.automotivebusinesssolutions.com/

Incoming Phone Calls

John Latka — Mon, 22 Nov 2021 05:00:00 -0400

In this episode, John Latka talks about Incoming Phone Calls.

Even in this digital age, customers want the option to call. And when they do, they prefer to be greeted by a human.

John also addresses how Covid-19 has driven people even further toward digital research and using a phone, making incoming phone calls more and more important to increasing sales.

In addition, he talks about what callers expect and what they can detect on phone calls. And, he also lists what dealerships need to have in place to handle incoming calls successfully.

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https://www.automotivebusinesssolutions.com/

Performance Reviews

John Latka — Mon, 15 Nov 2021 05:00:00 -0400

In this episode, John Latka talks about Performance Reviews. Including the frequency, the content, the scoring methodology and the reasons for having them.

John also addresses the planning stage and highlights the basics you need to have in place to conduct a professional performance review.

He also lists a number of observable and measurable points that should be reviewed when the focus is on sales people.

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For more information:
https://www.automotivebusinesssolutions.com/

Referrals

John Latka — Mon, 08 Nov 2021 05:00:00 -0400

In this episode, John Latka talks about referrals, and how referrals continue to be a high gain opportunity for businesses in general and the retail automotive industry in particular – with closing ratios of 70% plus.

John also addresses10 things you need to know about a personal referral program. He also shares the contents of a letter, that can be shared with customers by email, which thanks them for their business and introduces them to your referral program.

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https://www.automotivebusinesssolutions.com/

Company Culture

John Latka — Mon, 01 Nov 2021 05:00:00 -0300

In this episode, John Latka talks about company culture – and how a strong workplace culture has a positive impact on happiness and workplace satisfaction – not to mention the upswing in performance.

John also shares what influences and impacts company culture along with why organizations with stronger cultures tend to outperform the competition and are generally more successful.

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For more information:
https://www.automotivebusinesssolutions.com/

Why Employees Quit

John Latka — Mon, 25 Oct 2021 05:00:00 -0300

In this episode, John Latka talks about why employees quit.

Within the last couple of years, a study showed that 1 in 3 employees planned to leave their job within 12 months. And it’s not always a bigger pay cheque that people leave for – listeners will hear about a number of subtle and emotional factors that go into the decision to leave.

John also shares why the majority, 57% of employees, quit. You might be surprised at the reason.

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https://www.automotivebusinesssolutions.com/

Why Customers Quit

John Latka — Mon, 18 Oct 2021 05:00:00 -0300

In this episode, John Latka talks about why customers quit. Listeners will hear some relevant and surprising statistics along with the clear and present danger that leads to poor customer retention.

John also shares how investing time in customer satisfaction and retention is well worth the effort, as it will dramatically increase a dealership’s bottom line.

Onboarding New Employees

John Latka — Mon, 11 Oct 2021 05:00:00 -0300

In this episode, John Latka talks about onboarding new employees – the most crucial step in the HR process. Listeners will hear about the 4 Phases of onboarding along with the value of checklists and what they should include.

In addition, John talks about the benefits of having a great onboarding process in place and how investing a bit more time and effort in creating
an effective onboarding program will pay huge dividends!

You Don’t Know What You Don’t Know

John Latka — Mon, 04 Oct 2021 05:00:00 -0300

In this episode, John Latka talks about the origin and meaning of “You don’t know what you don’t know.” He also talks about how all knowledge can be broken down into three segments.

Listeners will also hear about the four stages of learning and skills development. And in addition, John shares some examples of gaps in knowledge and not knowing what the gaps are.

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https://www.automotivebusinesssolutions.com/

Daily Routines

John Latka — Mon, 27 Sep 2021 05:00:00 -0300

In this episode, John Latka talks about how having daily routines can add structure and a sense of control to your day. Routines ensure that you accomplish those basic daily tasks that must be done.

And by completing your must do’s, you will gain some time to schedule in other things that you want or need to accomplish. Daily routines can also play an important role in maintaining your mental health.

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https://www.automotivebusinesssolutions.com/

First Impressions and Pre-Judging

John Latka — Mon, 20 Sep 2021 05:00:00 -0300

In this episode, John Latka talks about a number of factors that influence first impressions and as sales professionals we need to manage first impressions in a variety of situations. In addition, John brings to light the fact that we prejudge more than we realize and then shares a relevant story.

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https://www.automotivebusinesssolutions.com/

Communication and Yada, Yada, Yada

John Latka — Mon, 13 Sep 2021 05:00:00 -0300

In this episode, John Latka talks about communication and how it is so much more than just words. He shares the three core elements in the
effective face-to-face communication of emotions and attitudes.

In addition, he explains why the acronym W.A.I.T. – Why Am I Talking? – is so important.

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https://www.automotivebusinesssolutions.com/

Leadership: The Good, The Bad and The Ugly

John Latka — Mon, 06 Sep 2021 05:00:00 -0300

In this episode, John Latka talks about leadership and shares some quotes that are bound to resonate with listeners.

He also highlights some common leadership mistakes along with warning signs that may indicate
poor leadership.

John wraps up the episode by highlighting the attributes of a good leader.

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For more information:
https://www.automotivebusinesssolutions.com/

Buying Signals

John Latka — Mon, 30 Aug 2021 05:00:00 -0300

In this episode, John Latka talks about Buying Signals and how prospects
give them all the time. The challenge is to recognize, respond and use
them to further the sales process or close a deal.

John shares a number of examples along with a story about a sales person
that missed buying signals throughout his interaction with a prospect.

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For more information:
https://www.automotivebusinesssolutions.com/

Performance Management – Keep It Simple, Stupid

John Latka — Mon, 23 Aug 2021 05:00:00 -0300

In today’s episode, John Latka will be talking about Performance
Management and how simplicity makes it easier to interpret and
understand the numbers which represent Key Performance Indicators.

These stats show where your opportunities for improvement are - both in
individuals and in teams.

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For more information:
https://www.automotivebusinesssolutions.com/

Customer Experience, Employee Experience and Customer Service

John Latka — Mon, 16 Aug 2021 05:00:00 -0300

In this episode, John Latka talks about customer experience, employee experience and customer service. All three are equally as important and play a major role in the success of automotive dealerships.

Trying to compete on product or price alone is not going to cut it. To stand out, you need to brand your business as being “experience focused” and live it every day by making it the focal point of your company culture.

With all manufacturers building really good vehicles, product differentiation is becoming increasingly difficult. John will share some examples of how to stand out from the pack.

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https://www.automotivebusinesssolutions.com/

Mental Ownership through Presentation and Demonstration

John Latka — Mon, 09 Aug 2021 05:00:00 -0300

In this episode, John Latka will be talking about mental ownership through presentation and demonstration.

John breaks down the 3 major steps in the selling and buying process: selection, mental ownership and commitment.

From his perspective, the most important is mental ownership because it’s at that point that your prospect actually buys the vehicle. And if your prospect does not own it mentally, he or she, will never commit financially.

So how do we help create mental ownership? Through a professional walk-around presentation, followed by a professional demonstration drive.

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For more information:
https://www.automotivebusinesssolutions.com/

Human Resources - From Recruiting to Retaining

John Latka — Mon, 02 Aug 2021 05:00:00 -0300

In this podcast, John Latka reviews some key points in each of the following segments of the HR process: recruiting, hiring, onboarding, training, developing and retaining.

Effective hiring is essential in the world of automotive sales, and John will walk through his proven steps to taking on the right employee for your dealership.

Also hear how to retain good employees by setting them up for success in their career.

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For more information:
https://www.automotivebusinesssolutions.com/

Closing Ratios - Work Smarter, Not Harder

John Latka — Mon, 26 Jul 2021 05:00:00 -0300

Today’s program is about Closing Ratios.

In this episode, John Latka shares with you how to work smarter, not harder by focusing on high gain opportunities like appointments, repeat customers and referrals.

You’ll hear how closing ratios range from 5% to 80% depending on the source of the opportunity.

John also shares an analogy that compares the M.I.T. Black Jack Team and selling vehicles.

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https://www.automotivebusinesssolutions.com/

Running Effective Sales Meetings

John Latka — Mon, 19 Jul 2021 05:00:00 -0300

In this episode John Latka shares with you how to structure a productive and uplifting sales meeting through a standardized agenda that also allows for flexibility of content - if and when necessary. John also shares a case study to illustrate just how successful a sales meeting can be.

Just imagine - people actually wanting to attend, rather than avoid, their next meeting!

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https://www.automotivebusinesssolutions.com/

Change Management & Creating a Winning Culture

John Latka — Mon, 12 Jul 2021 05:00:00 -0300

Today’s podcast is about change management & creating a winning culture.

Listeners will get clarification on what change management and a winning culture is. In addition, we’ll talk about visioning – a look to the desired future and the 3 elements at play.

We’ll also hear about 10 things to keep in mind when initiating change along with how to get buy in.

The episode will wrap up with highlights of a case study that resulted in a successful change initiative and a winning culture.

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For more information:
https://www.automotivebusinesssolutions.com/

In-Game: Performance Analytics

John Latka — Sun, 04 Jul 2021 23:59:00 -0300

Today’s program is about improving the odds; through in-game – performance analytics. In baseball, it's about winning games. In retail automotive, it's about winning or closing more deals.

In many cases, we forget that analytics and people are tied together and how you link one with the other will determine your level of success.

Back in the late 90’s and early 2000’s John Latka started developing simple in-game analytics for automotive sales teams that lead to dramatic increases in sales volume and profitability.

At one point when the numbers were analyzed, the increase was an average of 2.47 deals per month per sales person. Today, our goal, when working with dealers on performance management, is to increase their volume by at least 2 deals per sales person per month.

Trailer

John Latka — Thu, 24 Jun 2021 10:04:37 -0300

This podcast is for those working in automotive retail. The goal is to help listeners improve operational efficiency and increase sales by sharing ways and means we’ve used to help others. This includes aligning and balancing people, process, technology, culture, continuous improvement and accountability.