25 Profit Building Tools for Machinery Dealers

25 Profit Building Tools for Machinery Dealers

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This text was written to capture the rapid advances in IT (Information Technology) that can greatly impact programs to increase profitability. This book presents the minimum IT capabilities you need today to remain competitive. 

25 Profit Building Tools for Machinery Dealers builds on seven pivotal ideas that, together, will help ensure your long-term financial viability and competitive success:

  1. The incredible importance of accurate easily accessible customer profiles.
  2. The life or death challenge of managing customer expectations.
  3. The essential requirement to capture “active interest” leads on prospects researching potential purchases (machinery, service, parts, rental/hire).
  4. The crucial need to identify and upgrade “underserved” customers, those with below minimum purchase frequency. 
  5. The vital necessity to monitor employee attitudes and identify what is stopping them from doing a better job.
  6. The indispensable obligation to optimize profitability through attaining quantitative performance benchmarks.
  7. The ultimate survival dependence on achieving at least 20% Return on Net Assets.

We explore profit-building tools in each dealer Revenue Center and how Low-cost Imbedded artificial intelligence and automation applications can best manage customer expectations, drive retention, and improve margins. We dig deep into technician productivity and 2nd segment sales success. Tech headcount and 2nd segment Best Practices are presented in our in our just-completed North American dealer survey. Dealer executives are encouraged to read this book FIRST in my "Master’s Program in Dealer Management" series. This text is written for you, the Dealer Executive, who is willing to embrace the latest reasonably-priced IT and deploy IT as powerful strategic competitive weapon. 

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This handbook is a must-read for equipment dealers and other resellers. The author has distilled decades of specialized experience into 25 compelling management actions. The book is an excellent practitioner’s guide for achieving goals in margins improvement, technology use, staff productivity, and customer reach. This compilation provides insights, priorities, and steps to increase dealership financial returns.                                   

Dr Nick McGaughey, CPA

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