That meeting was ridiculously fun. When is the last time you heard that? When we’re having fun, are we really working? Enjoy an exclusive behind the scenes look at our ridiculously fun Elite Mastermind Coaching Group meeting as we focus on continuous improvement for business performance.
Our Elite Coaching Groups are made up of the best of the best Service Managers from across the country. 4 Times a year we bring a special guest from outside the automotive industry who is excelling in their business and performing at the top of their field to share the systems, tools and secrets that make them stand out from all others.
In our most recent Elite Mastermind Coaching Group we’re joined by special guest Eric Parmater, CEO of Rocking Popcorn and Tequila Ranch. Eric comes from humble beginnings, working in restaurants and selling encyclopedias (I can’t even begin to explain how difficult that is). Eric is an overall inspiration and unfailingly optimistic. He has many unique philosophies, one of them being, when branching out into liquor stores: “If all else fails, we’ll have really f*@$*!& nice bars at home.” Through his numerous ventures he’s learned what separates the exceptional salespeople from the average: Persistence. This is teachable but most of us have an innate level of persistence. Think about babies. We can all attest to the fact that they will cry until they get their bottle. Persistence.
It’s essential that to create an atmosphere in your store that encourages conversation and questions with customers. Once the customers are comfortable it’s easier to decipher their needs and cater the experience from there. Continuous improvement can not happen in a bubble, use what’s learned in these conversations for the immediate experience, but also use them to adapt, iterate and make the business even better over time.
Eric makes the experience so special that customers are known to buy bottles for Eric and his friends (and they own the shop). On one visit, a customer was on the way to checkout and the customer broke an expensive bottle of Rémy. He tried to pay for it. Eric politely refused and thanked him, and said he’d take responsibility for that. The experience we create is for the customer, never forget that. Make it an easy and fluid experience and you’ll see an increase repeat business, referral business and customer retention.
Parmater subscribes to the philosophy that, “You get ’em on price or you lose ’em on price. There’s essentially nothing else.” And continues “If your goal is to be the lowest price in town, you’ve already lost.” There’s nowhere to go to show continuous improvement from there.
Eric’s Tequila Ranch clientele is unique, and he’s built it up through making genuine connections and knowing what his customers want. “A client who may regularly spend $65 on a bottle of wine, that person is not going to be tempted by a $55 bottle of wine because it’s $10 cheaper. At that point $10 is nothing. They want to spend $65 for a bottle of wine because of what it means: higher quality, a peak year, richer flavor, etc. They wouldn’t be in Tequila Ranch if they were concerned more with getting a bargain bottle of wine, they’re at Tequila Ranch for quality”, said Parmater.
For similar reasons, when I’m training service managers, I recommend alignments be priced at $129 as opposed to $109. And resoundingly the answer is no because a $20 doesn’t seem worth it to service managers. Which is a massive oversight. Consider you sell 200 alignments at $20 increase, you’ll see a $4,000 increase in profits. Increase the quality of the experience and customers will be willing to spend an extra $20. Give them WiFi and a clean comfortable chair and watch how many alignments you dealership starts turning out.
Eric is lucky enough to have a great staff who really like him. But perhaps it isn’t luck at all. Let’s take a closer look. It’s a universal truth that actions speak louder than words. As Eric says, “I despise clichés. I love actions.” Eric prefers to drive continuous improvement in the store by setting the example. There’s a lot of opportunity for information to get lost in translation. Eric finds it’s more effective for his employees to observe his proactive steps as a leader and then emulate him.
So, take that list of goals I know you have hanging in your back office and get out in the dealership and put your words into actions. You can say you’re motivated but if you’re not taking actions towards your goals, what are you doing?
Speaking of Leaders taking action, in August more than 100 Leading Service Managers and Advisors joined us in Downtown LA at our annual Top Dog Event to do just that. Every year we bring the best of the best together, featuring Leading Speakers likeformer Navy SEAL Jocko Willink, Dave Anderson and Tim Kintz. At the event we all workshop together, mastermind, and award the Top Service Manager $50,000 based on their improvement over last years numbers. It’s not too late to go for the prize yourself. Who knows, maybe next year you’ll snag the $50k grand prize.
AND THE #1 FACTOR FOR CONTINUOUS IMPROVEMENT: BEING DIFFERENT
If you really want to succeed at becoming a Top Dog and create a higher quality of life for your employees, yourself and consequently your family, you have to be different. Look at me, I’m very different. I don’t want to fit in which is something Eric and I have in common. We’re both creating systems to foster continuous improvement while adding value in a unique way. Be it business models or leadership techniques. It’s easy to get caught up in the norm and be average. Break from the constraints of normality and start thinking differently.
Just look at Eric. He attributes a 100% of his success to disregarding society’s norms, the average. You see it very plainly in the products he produces. His goal when developing a new product is to create a unique name, unique labeling and packaging, and to have a unique knowledge about his product. This enables Eric to burst into a market and immediately distinguish his product from his competition. Find and exploit that one product or service that everyone else has or can easily get but the trick is to create a difference, a niche, that customers can’t get anywhere else. Eric has cultivated his store into a destination by using these principles. He’s a firm believer that if someone tells him not to do something, he’s going to do that exactly. So go ahead, dare him.
Eric is just one of many of the forward thinking entrepreneurs featured in my Elite Mastermind Coaching Groups where we provide the best managers in the country with the tools they need show continuous improvement by implementing effective systems and strategies for lasting profitability and customer retention. Of course, we have a few drinks and fun along the way. In fact, after a few tequila’s Eric delighted us all with his brilliant insights on marriage: “If corporate law and business law were anything like marriage law, you would never start a company. There’s just no f*@$*!& way.” Get in on our next Elite Mastermind Coaching Group and join the action!