Of course, sales representatives and customer service representatives play a huge role in the industry, as they interact directly with customers to understand what they are looking for and provide them with the information they need. Dealership managers are also extremely important as their effectiveness heavily influences the overall success of a dealership. 

Finance and insurance managers are extremely skilled professionals who can provide customers with a comprehensive overview of their options and draw up agreed upon contracts. Marketing and advertising experts also contribute greatly to the automotive retail industry, as they use a wide variety of channels such as public relations and social media to draw in more customers. 

Service technicians can also have extremely rewarding careers as they are able to problem solve and assist customers with repairs and maintenance. Similarly, parts and accessories specialists are able to recommend, order, and provide customers with any vehicle components they may need or want. 

Ultimately, there is no shortage of great job opportunities in the auto industry, and the following five reasons are grounds for someone to want to work in it. 

Advancement Opportunities

While everyone has varying objectives for their career path, most want to progress within their industry. Many positions in the auto industry allow for advancements into leadership roles, such as rookie salespeople working their way up to sales managers or service technicians eventually overseeing the entire service and parts department. 

Retail automotive employees can seek certifications in certain areas, such as a marketing manager taking professional courses to become specialized in the digital marketing field. It is also possible for retail automotive industry professionals to make cross-department transitions if they wish to do so, such as a salesperson moving into an F&I role. There are also a lot of opportunities for networking within the industry, and making connections may help professionals find new roles that they would like to pursue. 

Learning and Skill Development 

The retail automotive industry is always changing as factors like consumer desires and market conditions vary, so auto professionals are wise to learn about the latest updates, trends, and skills related to the industry. Luckily, there are a lot of available ways to do so including programs like manufacturer and dealership training programs. These programs provide information on the latest products and add-ons as well as helpful tips regarding sales techniques, F&I processes, communication and negotiation, and maximizing customer satisfaction.   

Professional development courses are also offered from various organizations such as institutes of technology that provide similar knowledge as manufacturer and dealership training programs as well as teach about new technologies and digital skills. Certain schools even offer degrees in automotive technology that may interest current or future industry professionals. In addition, many dealerships offer mentorships in which newer employees can work alongside professionals who have extensive experience and can provide insight and advice into day-to-day and long-term operations.  

Technological Advancements

The retail automotive industry is a very high-tech work environment that is attractive for those wanting to learn about the latest cutting-edge technologies. This includes, but is definitely not limited to, advances in electric/hybrid technologies as well as autonomous driving capabilities, improved safety updates, and other available technologies such as connected car technologies. Experience and knowledge with the latest technological advancements can also open up other opportunities for professionals such as careers in artificial intelligence and cybersecurity. 

Customer relationship management (CRM) software is always being improved and those in the retail automotive industry must keep up with the advancements as this software is crucial to a dealership’s operations. Being informed on how to use these advancements can allow for better customer engagement and ultimately higher sales success.  

Overall, working hands-on with these new developments can keep automotive professionals in-the-know and ahead of the curve. 

Job Security

There has been some chatter about dealerships becoming obsolete, but the truth is that there is still a high number of careers in the retail automotive industry that allow for solid job security. People have been keeping their vehicles longer than they used to, but at some point all vehicles have to be replaced meaning there will always be customers looking for new cars. Of course, maintenance and repairs will also always need to be carried out. 

While some car shoppers are enjoying transactions that include minimal interaction and some automakers have explored eliminating the need for dealerships, many consumers still prefer to speak with an industry professional directly to get the information they desire. Dealerships have proven to be adaptable for many years now, meaning most can remain relevant in their markets despite any big changes in the industry (e.g., the switch to electric vehicles). 

Ultimately, as long as consumers continue to need vehicles, the retail automotive industry will provide job security to auto professionals. 

Competitive Wages and Benefits

The retail automotive industry not only offers competitive wages and benefits to attract new hires, but also works to retain them. Of course, base salaries vary greatly based on the role an individual is in and other factors such as dealership location and size, but the belief that people cannot make a good living in the auto industry is completely unfounded. Many roles within the industry have performance-based incentives or commission, meaning professionals have opportunities to make great bonuses and celebrate achievements. Furthermore, many dealerships offer employee recognition programs that can boost employee motivation and engagement. 

Most individuals in the retail automotive industry are also given attractive benefits packages, which include offerings like health and life insurance, retirement plans, vacation time, and employee discounts. As mentioned above, many automotive professionals also have the option to enroll in training and professional development which can further their careers even more.  

Conclusion

Ultimately, there are many reasons to work in the retail automotive industry. Professionals in the industry are able to make a good living while getting exposure to different departments and having the chance to advance in their departments or transition to other ones. There are also countless opportunities for learning new technologies and skills while interacting with a diverse range of customers and other industry professionals. The auto industry is a very rewarding one to work in and it is great for people looking for a job that will allow them to advance their careers while continuously learning new things. 

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Group 1 Automotive sells four stores

Group 1 Automotive has been busy in the past month as it sold four dealerships throughout three states. This included Nissan of Mobile in Alabama, which was sold on July 31 to growing auto group Tameron Gulf Coast. The dealership has reportedly been renamed Tameron Nissan.

Group 1 Automotive also completed two transactions in Maine, which included Ira Chrysler-Dodge-Jeep-Ram and Volkswagen Saco. The dealerships were both sold to DSR Motor Group and have been renamed to Jack Chrysler-Dodge-Jeep-Ram and Jack Volkswagen of Saco. Regarding the Chrysler-Dodge-Jeep-Ram dealership, DSR Motor Group’s president, David Rosenberg, said, “I was probably the best buyer for the store. And I’m looking to grow the group anyway. I feel a lot of loyalty for the people that I used to work with. It made sense in both cases to buy the stores back.”

Group 1 Automotive also completed a sale in Oklahoma in June as it sold Smicklas Chevrolet in Oklahoma City to Dorian Jimenez, Lilly Jimenez, and Tom Durant. They have reportedly renamed the dealership Classic Chevrolet NW Expy. 

Woodhouse Auto Family acquires Nebraska CDJR dealership

On August 1, Woodhouse Auto Family said it had taken control of the Edwards Chrysler Dodge Jeep Ram dealership in Bellevue, Nebraska. Jason Pittack, the group’s Chief Executive Officer, said, “This location provides our current customers additional convenience and us as an organization an opportunity to develop a relationship with customers that wouldn’t have previously ventured to our Blair, Nebraska location.”  

The Woodhouse Auto Family purchased nearby Huber Cadillac and Huber Chevrolet earlier this year and the latest purchase marks the auto group’s 21st dealership in Eastern Nebraska. 

“Acquiring this location was driven by our commitment to our long-standing Chrysler, Dodge, Jeep, Ram customers that live and work in the Omaha metro community,” Pittack added. 

Lithia Motors leaves North Dakota

Lithia Motors officially exited the state of North Dakota at the beginning of August, selling both Lithia Ford of Grand Forks and Lithia Chrysler-Dodge-Jeep-Ram of Grand Forks to the Nelson family. One of the Nelson dealership group’s owners, Adam Nelson, said his group “felt that [it’s] a good fit for the community” and praised the family-friendly environment in Grand Forks. He also said the dealerships will place a lot of focus on improving the existing service departments, noting that, “Customers can buy their vehicles anywhere, but they want someone who takes care of their vehicle throughout its life cycle.” 

The dealerships have been renamed Nelson Ford of Grand Forks and Nelson Chrysler-Dodge-Jeep-Ram of Grand Forks.  

Bill Ussery Motors sells Florida Mercedes-Benz stores

In transactions totaling $150 million, Bill Ussery Motors sold Mercedes-Benz of Coral Gables and Mercedes-Benz of Cutler Bay to an affiliate of Dream Motor Group earlier this month. Both dealerships were sold to BIJ Motors Coral Gables LLC, with the Mercedes-Benz of Coral Gables dealership costing $55 million and the Mercedes-Benz of Cutler Bay dealership costing $45 million. 

The dealership sales were just two parts of an overall real estate asset purge by Bill Ussery Motors that likely reached a total price of approximately $650 million. In addition to the two recently-acquired stores in Florida, Dream Motor Group also has five Mercedes-Benz dealerships and one Infiniti dealership scattered throughout the South.  

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General Motors Director of Dealer Diversity Relations, Tia Hardman, commented on the increase in minority-owned stores, stating that GM is “dedicated to growing a performance-driven, customer-focused and profitable dealer network by attracting highly qualified minority dealer candidates to ensure that [GM’s] retailers reflect the communities and the customers that [GM] serve[s].” GM has been actively looking to increase the number of minority-owned stores since 1972 when it created its Minority Dealer Development Program. 

The Head of Network Development for Stellantis, Phillip Langley, expressed pride regarding the automaker’s ongoing success in increasing minority-owned stores and told Automotive News that Stellantis is “always looking to grow [its] bench of candidates, so [Stellantis’s] work will persist on this important initiative, as [Stellantis’s] mission is to continue to improve network diversity and strive for Stellantis to be the OEM of choice.”

The executive director of the Chrysler Minority Dealers Association, Mitch Mitchell, also noted that Stellantis dedicates resources to finding and training potential minority dealers through the National Automobile Dealers Association’s Dealer Academy. “For us to lead the way, that’s an even greater feather in the cap to show that we’re definitely trying to do the right thing as far as ethnic diversity is concerned to put dealers in place to reflect the communities where our dealers sell and service vehicles and where customers buy those vehicles,” he said. 

Mitchell also pointed out the rising cost of franchise opportunities and that finding capital can be difficult for potential minority dealers. Many minority dealers also decide to retire and/or sell their stores to non-minority dealers, which reduces the total number of minority-owned dealerships. To overcome these potential drawbacks, Mitchell said that Stellantis is “hold[ing] on to the existing franchises that [it has] while trying to gain more.”

The Vice Chair of NAMAD, Damon Lester, told Automotive News that strong leadership within automakers has contributed greatly to the increase in minority-owned stores. This reportedly includes active efforts to increase diversity such as the addition of Lottie Holland as the Diversity and Inclusion Chief for Stellantis. “As leadership continues to stay stable, meaning the presidents and CEOs of these entities have not switched hands, or retirements or things like that, we do tend to fare well when that happens,” he stated. 

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Lithia Motors Buys Wade Ford

In mid-July, Lithia Motors purchased Atlanta-based Wade Ford, one of the most prominent dealerships for the government fleet, and will not be renamed as part of the deal. The seller, Steve Ewing, said he “knew [he] could trust Wes and Pinnacle [Mergers & Acquisitions] to handle such an important and life-changing event for all involved.” According to Zacks Equity Research, Lithia Motors CEO Bryan DeBoer noted that “Wade Ford’s strong reputation with customers and community support will allow Lithia to expand its operation in the highly competitive market.” The recent transaction is the latest of many for Lithia Motors, which is still aiming to bring in $50 billion in revenue by the end of 2025.

Empire Automotive Group Acquires the Crystal Auto Mall

Also in mid-July, Green Brook Township, New Jersey-based Crystal Auto Mall was acquired by Empire Automotive Group. The auto mall consists of Toyota and Mazda dealerships and was first opened in 1988. The Dave Cantin Group advised the auto mall’s owners in the sale, and the advisory firm’s CEO, Dave Cantin, said the recent deal “further positions Empire [Automotive Group] to grow their business fueled by strong performance with consumers and great partnerships with their OEM partners.” In the four years since its foundation by owner Michael Brown, Empire Auto Group has grown to more than 20 dealerships throughout the Northeast.

Aaron Auto Group Buys Anderson Chevrolet

Last month, Anderson Chevrolet was sold by Jason Anderson to Vikas Mehandroo and the Aaron Auto Group. Anderson Chevrolet, which is located in Lake Elsinore, California, will now be named Aaron Chevrolet of Lake Elsinore. Mehandroo, who previously served as the General Manager for several dealerships in California, also owns Aaron Ford of Poway and Aaron Chrysler Dodge Jeep Ram of Norco. Speaking about the latest transaction, he praised Performance Brokerage Services and its co-founder, Jason Stopnitzky, noting that “the fact that [Stopnitzky] called me back when I was looking to buy my first store, with no prior experience of ownership, and spoke with me for almost an hour to understand my needs and situation, tells you everything you need to know.”

Lithia Motors Buys Hill Country Honda

In yet another purchase for Lithia Motors, the group’s Vice President of Strategic Operations, Tom Dobry, told Automotive News that Lithia Motors had completed the purchase of Hill Country Honda on July 31. The acquisition is Lithia Motors’ first dealership in San Antonio, Texas, and the auto group will reportedly not change its name. The group bought Hill Country Honda from Rene Isip, who has held several executive positions with the John Eagle Family of Dealerships throughout the last 20 years and is also the owner of RRIJR Auto Group Ltd.

Ken Garff Automotive Group Buys Seven Hawaii Dealerships

On July 31, Ken Garff Automotive Group completed the purchase of seven Aloha Kia dealerships in Hawaii. This includes dealerships on the islands of Oahu, Kauai, Maui and Hawaii. Previous owner Bill van den Hurk reportedly plans to retire and said, “I’m so proud of what we’ve built at these seven dealerships over the past 27 years, and in particular the positive influence we’ve been able to provide in our communities.”  The dealerships’ names will not be changed, and leadership teams will also remain the same. The Hawaiian acquisitions are the first of 2023 for Ken Garff Automotive Group, whose CEO Brett Hopkins said, “We are excited to expand into Hawaii and continue to grow our relationship with Kia.”

Sutherlin sells Nissan of Fort Pierce

On July 28, Performance Brokerage Services announced it had assisted Sutherlin Automotive Group in its sale of Sutherlin Nissan of Fort Pierce, Florida. The auto group’s owner and CEO, Brett Sutherlin, said it “made sense” to use Performance Brokerage Services because the firm previously advised Sutherlin Automotive Group in its purchase of a Subaru dealership. The recently sold dealership will reportedly be renamed Nissan of Fort Pierce. Both Sutherlin and Performance Brokerage Services Senior Partner George C. Chaconas said they look forward to working together in the future.

Great Lakes Auto Group Buys Dennis Automotive Dealerships

Great Lakes Auto Group announced in July that it had bought three Dennis Automotive dealerships in the Columbus, Ohio area. The combined $21.9 million acquisition included two Hyundai dealerships and one Genesis dealership, which will be renamed Great Lakes Hyundai of Dublin, Great Lakes Hyundai of Columbus, and Genesis of Columbus. The latest transaction was not the dealership groups’ first time working together, as Dennis Automotive sold a Kia dealership to Great Lakes Auto Group in September 2017.

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Expertise Needed

Vehicles are made up of thousands of parts, and today’s mechanics are quite well-versed in them. However, as digitalization expands, more technological skills will be required. Fixing or replacing a part in a vehicle may no longer just be purchasing one from a distributor and switching it out; instead, certain components must be installed plus re-programmed with codes.

Other technologies such as 3D printing could potentially reduce the number of parts in cars as well as produce them faster, so employees who have these types of tech skills may be in high demand. In addition, cars are becoming more connected than ever, and professionals with expertise in information and communications technology (ICT) are expected to gain a larger role in the auto industry.

Overall, the future makeup of employees in the auto industry will likely have more software engineers and computer specialists compared to traditional assembly line workers and mechanics.

Changes for Sales and Tech Employees

Many automakers are placing some level of emphasis on virtual reality (VR) and augmented reality (AR) sales, so salespeople may eventually be pushed into these worlds instead of the traditional on-site, in-person sales model. Selling cars to customers using digital means such as VR, AR, email, Zoom/FaceTime, and live chats is likely to increase as car buyers shift away from wanting to step foot into a dealership.

Digitalization could also affect technicians as conducting over-the-air (OTA) diagnostics and repairs become a more prominent concept. Remote maintenance, repairs, and updates are still in their early days for most automakers except Tesla, but there may come a day when a lot of car owners are able to save a trip to the service lane and instead have a technician “push” an update or repair to their cars.

A More Diverse Workforce

In the past, the auto industry was mainly run by men, but many women have reached top roles in it throughout the past decade. Seeing as a lot of women have left behind various stereotypes and emerged as leaders in their fields, there are now many women who are up-to-date on the latest digital trends and will be able to find success in the auto industry. Female software engineers, data analysts, digital marketing gurus, coders, and sales reps are just some examples of employees who will increasingly be in demand, and women will no longer be underutilized talent.

A major reason men and women both consistently report not working in the auto industry is the fact that there is a work/life balance disconnect and an automotive job would not provide them with the flexibility they need. Digitalization is changing this, as many employees have found ample success working from home and on scattered hours. In addition, using digital resources to make sales and conduct transactions (i.e., e-signing documents) offers more efficiency and can be done from anywhere. Salespeople may no longer need to be at the dealership for 12 hours a day and can instead use digital means to sell vehicles, and those in the HR department may be able to make more flexible hours and do a lot of work on their own time at their homes.

Ultimately, digitalization will provide more people with opportunities to work in the industry and more convenience for car owners and buyers. On the contrary, some employees’ jobs are likely to become obsolete as processes become more automated, which could either lead to job losses or the need to train employees on the latest technological advances.

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In general, the way we define success impacts our ultimate success. Many businesspeople imagine success as having millions of dollars, and while that certainly is something to strive towards, it doesn’t always bring happiness. Cuban told Inc. that his definition of success is “waking up in the morning with a smile on your face, knowing it’s going to be a great day.” Changing our outlook on what success means can change the overall work experience and take careers on paths never even imagined.

Cuban has noted that he is “fortunate” because he “put business first before [he] got married” and now he can “schedule around [his] kids as much as possible.” Of course, many entrepreneurs already have spouses and children, and this advice should not deter anyone from trying to reach his level of success. It may be, however, helpful to audiences such as young adults just getting out of school.

Daily Routine

So, what is Mark Cuban’s not-so-secret daily routine?

Some life-advice gurus suggest that we refrain from checking our phones instantly upon waking up, but this is not how Cuban operates. Instead, when his alarm rings at 6:30 a.m., he immediately checks his emails on his phone and deals with the most important tasks. In an October 2018 interview with CNBC, Cuban stated, “The key to reaching high levels of performance and productivity is to develop the lifelong habit of tackling your major task first thing each morning.”

In May of 2022, Cuban revealed to Balance the Grind that he completes the most important tasks around 10:30 a.m. and the remainder of his day involves keeping up with news, parenting his kids, and playing basketball or doing some other sort of exercise. Cuban also loves to read, even noting at one point that he reads a book or news for several hours every afternoon. Of course, responding to emails throughout the day also takes up at least a few hours of his time.

Cuban ends his day around 5:00 PM or 6:00 PM unless he has something to attend such as a Mavericks game or an event with his kids. He then watches TV shows of his choice, checks his email one more time, and goes to sleep around midnight. Overall, his approach allows him time to do things he enjoys while also finishing all of his work tasks.

Insightful Practices We Can Learn from Mark Cuban

There is no doubt Mark Cuban is a very busy entrepreneur, but he has obviously found a way to get everything done and manage his time right. For starters, Cuban is very opposed to long, drawn-out meetings that could have been put into an email or phone call. He has said during interviews that “meetings are a waste of time unless you are closing a deal” and that all meetings should have “a duration and set outcome before you agree to go.” Not attending pointless meetings gives Cuban a few free hours each day to get other important things done and follow his daily regimen.

Simply stated, Cuban knows how to prioritize tasks effectively while eliminating distractions and is, therefore, able to be actively involved in his business ventures as well as his family life. He also exhibits a strong work ethic and immense courage to take risks by investing in innovative ideas. This requires perseverance, which he also demonstrates through his unwillingness to give up even when something such as a business deal is not going as planned.

The fact that Cuban reads so much news every day is also useful for him as it helps him expand his knowledge base. He is continuously learning, which helps him stay in the know about various trends in every industry that will undoubtedly help him make solid business decisions. He is also hands-on with his business ventures, allowing him to know exactly what is going on with each one and this helps him make quick yet efficient decisions.

Another critical skill Cuban has mastered that we could all benefit from is communication. Especially when working within different industries, it is important to be able to network. Strong partnerships have definitely been essential to Cuban’s success, as he can learn from other people and be able to have more confidence in his choices.

Nobody is going to succeed 100% of the time, and learning how to embrace failure and use it as motivation instead of sulking can definitely bring success in the long run. In Cuban’s book, How to Win at the Sport of Business: If I Can Do It, You Can Do It, he wrote, “It doesn’t matter how many times you almost get it right. No one is going to know or care about your failures, and neither should you.”

Ultimately, figuring out the right work-life balance while making good business decisions can boost confidence and therefore lead to great achievements. Utilizing various techniques that Cuban uses daily can lead to both personal and professional growth and open up opportunities that had not been thought of before.

Perhaps one of Cuban’s most telling quotes about his life that summarizes why he has found so much success: “Work like there is someone working 24 hours a day to take it all away from you.”

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Barra entered the automotive industry in 1980 during college through a student co-op program with GM. In 1985, she was named a senior engineer in GM’s Pontiac division and she continued to further her studies and move into more executive roles with GM. This included positions within manufacturing engineering, Global Human Resources, and Global Product Development. She was named Executive Vice President of GM in 2013 and then its first female CEO the next year. In 2016, she was also elected as the chair of GM’s Board of Directors.

Speaking on the topic of management, after being named CEO, Barra told the Los Angeles Times, “The most important thing [GM has] to drive into the business every day is that it all starts and ends with great product.” She noted there was a larger “need to win on every segment” than there previously had been and that GM would be focusing on achieving that goal.

Barra has also stated that her management style is “collaborative.” She said she promotes “constructive tension” and “vigorous debates” and she tries to “create an environment where people feel they could voice their concerns and that we can get the best ideas on the table and then make the right decision.” She added that she has “no qualms” about making a final decision if needed, but encourages “tension in a constructive way to make sure [GM] evaluate[s] things from every angle.”

Barra’s determination to ensure GM’s success is exhibited by her leadership style, which includes various strategies to expand diversity and inclusion within the company. In June of 2020, she announced GM’s goal to become “the most inclusive company in the world” and formed GM’s Inclusion Advisory Board, which includes executives from both GM and other organizations.

Barra has actively worked to expand diversity within the leadership team of GM, as she wants to ensure different viewpoints are shared and valued. She has also kept the formal supplier diversity program in place as well as supports GM’s employee resource groups, which include groups for veterans, people of color, LGBTQ+, women, and others. In addition, she strives to make sure GM adheres to the three “pillars” that drive its inclusive workplace, which include “Our Words (what we say), Our Deeds (what we do) and Our Culture (who we are).”

Barra also maintains a sense of trust in GM’s employees and greatly values their input. She has demonstrated this in various ways, including discarding the automaker’s 10-page dress code and replacing it with “dress appropriately.” When asked about this specific update in an interview with Fortune Magazine, she stated, “It really became a window into the change that we needed to make at General Motors…I can trust you with $10 million of budget and supervising 20 people, but I can’t trust you to dress appropriately? It was kind of a step in empowering…so this really encouraged people to step up.”

Barra also encourages customer feedback and takes different perspectives into account when making critical decisions. In a July 2022 interview, GM’s chief diversity, inclusion, and equity officer and Inclusion Advisory Board member, Telva McGruder, said GM’s motto is “Everybody in,” which she stated means that GM is “designing vehicles that will be able to accommodate people regardless of their level of income.” This reportedly includes developing a wide variety of electric vehicles, which Barra has made a priority for the future of GM.

It is important to note that Barra also recognizes failures, as she has quoted Charles Kettering’s advice of “The only time you don’t fail is the last time you try something and it actually works.” She also does whatever is needed to resolve issues, including the way she used her fierce leadership approach to get GM through the faulty ignition switch recall in 2014 that affected around 800,000 vehicles and threatened to be detrimental to the automaker.

Overall, Mary Barra is a prime example of a C-suite executive who has utilized inclusive leadership practices to drive meaningful change to a company that has resulted in ongoing success. Fostering an inclusive work environment has allowed GM to remain one of the most prevalent automakers in the industry and Barra has said she will continue to push for more diversity and inclusion within the company. Her leadership style has not gone unnoticed and other businesses – both large and small – may be able to benefit from implementing at least some parts of her approach to leadership.

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There is no doubt billionaire Elon Musk is a very busy entrepreneur seeing as he now owns five companies including Tesla, SpaceX, Twitter (now known as X), The Boring Company, and Neuralink. Many people are in awe of his time management skills, as it can be a daunting task to manage even just one business venture day-to-day. While Musk has admitted he is quite busy and works 80-120 hours a week, he has been able to effectively utilize time management skills including one called timeboxing, which may help other small business owners plan out schedules that work out best for them.

The Essence of Timeboxing

Simply stated, timeboxing is mapping out fixed amounts of time for various tasks throughout the day. Each task is allocated into a time “box,” with larger tasks taking up more boxes than smaller ones. Many entrepreneurs who use this method of time management make these time “boxes” rigid and stick to them, whereas others may allow themselves to alter them to a small scale. However, the goal is to eliminate distractions and keep the focus on the task at hand at all times.

Elon Musk’s Approach to Timeboxing

Musk undoubtedly has a lot on his plate, and he is confident in all of his business ventures. In fact, he once stated that “If something is important enough, even if the odds are against you, you should still do it.” Juggling several prominent corporations requires effective time management, and in this regard, Musk has become a huge proponent of timeboxing. Musk sets time boundaries for each task that he is confident will be effective and makes an immense effort to stick to them.

The Benefits of Timeboxing for Dealership Leaders

Timeboxing certainly seems to work for Musk seeing as his success continues to build, and automotive dealers can also benefit greatly from the technique. Since timeboxing involves allocating specific amounts of time to each task, dealership leaders can foster a sense of enhanced focus and efficiency. Having time “boxes” for different responsibilities like sales meetings, administrative needs, inventory management, and customer service can streamline operations for dealership leaders and help them make sure everything is taken care of. Dealers can also greatly benefit from optimizing resource allocation and utilizing effective prioritization, as productivity can increase and ultimately lead to a better work-life balance for all employees.

Practical Implementation of Timeboxing

The first step to implementing timeboxing effectively is to define clear objectives by identifying key tasks and lining them up in order of importance. Some tasks may be more urgent than others on any given day, and it is crucial to prioritize them and give them the time they need.

This leads to another step in the implementation of timeboxing, which is setting realistic time limits. While it would be nice if everything could be done quickly, that is not the case for most businesses. Consider the complexity of the task, what resources are required, and how much assistance is needed for it (e.g., if several employees will be needed).

While leaders want to stay realistic with time limits, they also do not want to go overboard and allocate too much time to one task. Elon Musk himself once said, “If you give yourself 30 days to clean your house, it will take 30 days. If you give yourself 3 hours, it will take 3 hours.” Finding the proper amount of time for each responsibility can also give a great overview of what a leader’s schedule will look like for any given day.

Distractions during work are a huge issue, and it is critical to eliminate them. Many people find that creating a workspace free of distractions is a great first step to doing so. Even just having a cleared-off and organized desk can help people work more efficiently since there is no clutter to get in their way. Email and phone notifications can be turned off, with many devices now having a “Do Not Disturb” setting that just requires one push of a button to activate. A lot of people are hesitant to set boundaries with their families, friends, and colleagues, but many business leaders have found that communicating to these people that they cannot be interrupted during certain periods of time can greatly reduce distractions.

Of course, it is important to regularly evaluate and refine any processes that have been implemented to assess their effectiveness and identify any challenges that need to be addressed. It is important to note that while timeboxing sets defined schedules, there must also be some flexibility to tweak the strategy if needed.

Conclusion

Elon Musk is one of the most renowned entrepreneurs in history and the timeboxing technique he utilizes has proven to be quite effective for him. Timeboxing allows for unwavering focus and minimal to zero distractions, which enables business leaders to allocate time and resources in the best way possible as well as prioritize the most important tasks while meeting all deadlines. Implementing the timeboxing strategy requires commitment and discipline, but if done the right way it can unquestionably be valuable in boosting efficiency and overall business success.

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While most people have heard of innovation gurus of today such as Tesla’s Elon Musk, some may not know about one of the most prominent icons in the auto industry from the last century, Lee Iacocca. Not only was he the highest-paid executive in the U.S. at one point, but he was also a New York Times best-seller and a beloved innovator that had, in part, gotten the auto industry where it is today. Though Iacocca passed away in 2019, his legacy undoubtedly lives on through some of the most critical insights he offered during his 40+ year career. While it would be impossible to name a few of his lessons as the greatest, here are some of the most popular ones he left us with. 

It is well-established that innovation is required to stay relevant in any industry, including the auto industry. Consumers are always interested in both brand new and improved technologies, which auto dealers and everyone in the auto industry must keep up with in order to run successful businesses. A major component of meeting business goals is being able to adapt to new concepts, which allows the auto industry to continue offering customers unique products and accessories. Keeping up with innovation gives industry professionals an advantage over their competitors and leads to process changes within organizations that result in new business as well as customer retention.

Iacocca said there is no doubt many people have great ideas, but if they do not know how to communicate them to others, the potential may go untapped. Solid communication has always been a staple of successful business, as it gives everyone involved a clear and concise view of what an innovative idea is, why it is important, and how it can help the business and/or customers. In addition, being able to relay ideas to others also gives the opportunity for useful feedback and collaboration.

Innovation is great and necessary, but Iacocca always noted that old ideas and processes do not become obsolete just because new ones arise. The auto industry – especially dealers – has a lot of established procedures and strategies that have worked for many years, and a balance between old and new needs to be created. Of course, if a new idea is proven to be better than an old one, successful people and businesses need to quickly embrace it. However, certain things may be best unchanged for the moment, and businesses should always be working to achieve an equilibrium between old and new. 

We hear a lot about “time management,” and Iacocca agreed it is critical for success. The auto industry is always changing and has innumerable moving parts, which can make it hard to keep up. While it can definitely be difficult, those in the industry can find ways to prioritize what is most important while also making sure to stay aware of new innovations. There are many different strategies automotive professionals and dealers can utilize such as advanced scheduling and analytics programs as well as distributing work across teams as efficiently as possible. 

Iacocca even brought some psychology into his insights, stating that one’s mindset has a significant impact on his or her life. This extends to the auto industry, as dealers and other auto professionals must keep a positive mindset regarding growth, change, and innovation – even though they can be scary. Being open and welcoming to new ideas, processes, and technologies can help an organization navigate innovation and keep up with the latest developments in the industry. 

Conclusion

These quotes are just a few illustrating the long legacy of wisdom that Lee Iacocca left for leaders and other innovative professionals to learn from. While always maintaining humility and charisma, he transformed the auto industry and encouraged dealers and other organizations to cultivate innovation while also leaning on proven solutions. Overall, with all of the great enlightenment Iacocca gave throughout his cherished career, it’s no wonder the Harvard Business Review once referred to him as “the first modern example of a charismatic business leader.” 

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Lithia Motors Sells

Lithia Motors Inc. was busy selling dealerships in June, finalizing a total of three sales throughout the month. 

The latest sale consisted of Priority Toyota Hampton in Hampton, Virginia to Mills Automotive Group on June 27. Mills Automotive Group’s Variable Operations Director, Kelly Alston, noted on LinkedIn that Mills Auto is “excited to grow [its] presence in the Hampton Roads area” and thanked Lithia for “a smooth process and transition.” Lithia had recently required the dealership, which has been renamed Classic Toyota of Hampton. 

On June 22, Lithia sold Pennsylvania-based Ford of Monroeville to #1 Cochran Automotive and the dealership has been renamed #1 Cochran Ford Monroeville. According to #1 Cochran’s Chief Executive Officer, Rob Cochran, #1 Cochran is “delighted to continue [its] growth in Monroeville, where [it has] served customers and the community for nearly 60 years.” The company has also completed several other notable deals within the past year and now operates 35 new vehicle franchises, eleven collision centers, and a distribution center for parts. 

John Elway Dealerships purchased Bentley of Denver-Lotus from Lithia on June 8 and has reportedly moved the dealership from Highlands Ranch, Colorado to Lone Tree, Colorado. Lithia was represented by Pinnacle Mergers & Acquisitions throughout the sale of the dealership, which has furthered John Elway Dealerships’ presence in the luxury segment. John Elway Dealerships Managing Partner, Todd Maul, noted that the recently acquired dealership “complements [John Elway Dealerships’] Cadillac brand in a way that is fairly rare to have.” 

Tim Lamb Group Facilitates Sale to Victory Automotive Group

Earlier this month, Marietta, Ohio-based C&C Toyota and C&C Chrysler Dodge Jeep Ram were sold to Victory Automotive Group and were renamed Victory Toyota Marietta and Victory Chrysler Dodge Jeep Ram. Blair Sharpe of the Tim Lamb Group collaborated with both parties to complete the transaction, which also consisted of a collision center and body shop, detail shop, and quick lube shop plus the C&C Car Wash and Service Center in nearby Parkersburg, West Virginia. The dealerships’ owner, Jim Cobb, expressed satisfaction with the transaction, stating that Sharpe “was upfront, honest, and understanding with our needs when it came to finding a buyer that would be the right fit for our property.” As part of the deal, all current employees will be retained.  

Holand Automotive Group Buys Ferrari Store in California

Canada-based Holand Automotive Group announced earlier this month that it had expanded to California through its purchase of the Ferrari South Bay dealership in Torrance. The company’s Chief Executive Officer, Gad Bitton, noted that his company “[looks] forward to building a strong relationship” with the Ferrari South Bay dealership and seeks to bring Holand Auto’s “unique Ferrari Quebec insight to make the dealership even more successful.” Holand Auto Group now operates a total of thirteen luxury dealerships throughout Florida, California, and Quebec, and Bitton noted his group is planning to expand throughout the United States. 

Young Automotive Group Expands into Montana

On June 26, the Young Automotive Group finalized its purchase of Flanagan Motors Mazda of Missoula, marking the group’s entry into Montana. Young Auto’s Paul Byron will serve as the general manager of the dealership while its previous owner, Shannon Flanagan, will be named the community service representative manager. Speaking about the recent transaction, Flanagan stated he feels like the Young Auto Group “has a lot of wisdom” and Byron noted he “can’t wait to show those who are unfamiliar with our company how we do business.” As part of the sale, the dealership was renamed Young Mazda Missoula. 

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