Surviving in Any Economy
By Richard F. Libin, President, Automotive Profit Builders and author of just released book “Who Knew?” APB.cc, rlibin@apb.cc
One thing is certain: the economy is always changing. For business, this typically means highs and lows. A good leader, however, knows how to adjust their management style to motivate your team and increase performance. At APB, we identified 13 rules that will help managers guide their teams so that their business not only survives, but thrives, in any economy
Every year we see businesses that fail. In many cases, the owners blame the economy. In many of these cases, however, the owners are embracing a trend called “cop-out closures.” This happens when they decide to close down for any number of reasons because they know they can blame the economy rather than look at their own business practices and management. Every one of these closures, however, is an opportunity for competing businesses that intend to continue growing. These 13 rules of business will help you be ready to take advantage of every opportunity and to succeed in any economy.
1. Control your own destiny. Don’t give in to what is happening around you. Be a leader. Stand up and make things happen. Only real leaders can stay strong and steer their companies in the face of adversity.
2. Embrace the 30-Day-Fix. Change takes time. If you look for the quick fix, you’ll be disappointed. Yet, in a month, true change can start to take place. Start by creating what we call and Elephant List - a list that taken in all at once is overwhelmging. Then, work on it, “one bite at a time.” For the next 30 days, write down one problem that comes up and what was done to correct it. At the end of 30 days, look at the very first problem you recorded. If it’s still there, come up with a better, more permanent solution, not just a “quick fix.” Keep working each problem until the list dwindles, – one bite at a time.
3. Use the “Red Carpet Treatment” consistently.  Create loyal clients who buy because of their relationship with your business because of the exceptional experiences they have, not because of the price. Most often red carpets are rolled out for VIPs. Who in your business is more of a VIP that your customer? Instill a desire in your team to go the extra mile to “wow” your VIPs, from their first greeting to the delivery of their product or service.
4. Don’t stop the sale. Work every opportunity fully. Ask the right questions and listen to the customer’s needs, wants and desires. Adopt a positive attitude. Don’t turn buyers into shoppers by pushing them to “buy now!” When you understand that your job is to help buyers select the right product o service, now is irrelevant. Whether a customer buys today or next week doesn’t matter. What matters is that they buy from you.
5. Practice continuous improvement. Educate and train every person in your business constantly. Teach salespeople and managers how to follow-up and pursue sales through delivery and beyond. Train them to use a customer-focused approach – not high-pressure sales tactics. Demonstrate how the process works and show them your willingness to work with them. Monitor, assess, pinpoint, and correct selling challenges.
6. Communicate. Develop an effective game plan and share it with you team. Set expectations and be sure that everyone knows what they need to do given time to meet them. Use customer data to track, analyze monitor progress, and performance through every step of the selling process, every day. Use the results to identify where to focus your education and training programs for each individual.
7. Promote managers within. Set a career path for every employee and provide the training and opportunities for them to follow it. When you make an investment in your team you develop a pool of exceptional candidates who know your processes and customers.
8. Count traffic. Base performance on an accurate traffic count to create a level playing field. Look at how each salesperson improves their closing ratios, the number of items vs. customers the salesperson worked. Counting only units sold provides an inaccurate picture of who is improving most.
9. Motivate your team. Host daily motivation meetings. Focus on how they can deliver their best performance. Emphasize teamwork and demonstrate how each individual’s performance contributes to the team’s success. Structure incentives so every team member has a fair shot, and so that the person delivering an “assist” is rewarded as well, not just individual who “scores.”
10. Practice 10. Give every salesperson 10 things to do each day that will help them achieve their goals and improve performance. For example:
• Listen! Find out what customers want in the first five minutes.    
• Call five previous customers; look for the referral.
• Send 10 follow-up letters or cards.
• Visit two local businesses and secure two prospects from each.
• Give every customer a tour of the facility – even if they haven’t decided to buy.
• Give one assist to a colleague.
• Make a game plan for the next day.
11. Check each other for accountability. At the end of the day check in to see how well the goals have been met and make an action plan for the next work day.
12. Think like “The Little Engine That Could.” – Yes I can! Keep a positive attitude at all times. Remember, your attitude is contagious.
13. Get our of your office. Be hands-on and work directly with your team. Lead by example and pitch in when needed.
While there is no magic formula or silver bullet that brings success, following these 13 rules will certainly make a difference and ensure you are on the path to success.
Richard F. Libin has written two acclaimed books that help people of all walks of life improve their sales skills, because as he says, “Everyone is a selling something.” His most recent book, Who Knew?, and his first book, “Who Stopped the Sale?” (www.whostoppedthesale.com), is now in its second edition. As president of APB-Automotive Profit Builders, Inc., a firm with more than 49 years experience working with both sales and service professionals, he helps his clientele, through personnel development and technology, to build customer satisfaction and maximize gross profits in their businesses. Mr. Libin can be reached at rlibin@apb.cc or 508-626-9200 or www.apb.cc.