Dealership Minds Summit Updates

Monitoring Service Productivity: Non-Applied Tech Time Is ‘Thrown-Out’ Inventory

In his general session presentation at the 2015 Dealership Minds Summit in Cincinnati in January, Birkey’s Farm Store President/CEO Mike Hedge also covered service productivity issues and the high cost of unapplied labor most farm equipment dealerships experience. And he encouraged dealers to start looking at service techs through a lens of inventory units.
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How Leverage & Inventory Turnover Keep the Balance Sheet in Order

This executive shares his approach to teaching employees throughout the dealership the importance of leverage and turnover, the guard rails for keeping the balance sheet — and dealership — on track.
Financial metrics don’t drive our business, but they are a set of guardrails to keep us from running our business off the cliff. And in a cyclical business, when the business goes up and down, it’s easy for those ratios and metrics to get out of kilter.
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The Next Generation

Intergenerational Dealerships: The Anatomy of Transition

Succession planning has a reputation for being a battlefield, but it doesn’t have to be. These families share their recipes for a successful succession.

For farm equipment dealer-principals, succession planning is more than merely passing a torch — it’s a complex logistical relay. For those resolving to keep their business in the family, the process and the pitfalls can be even more complicated. After spending years cultivating a successful business, dealers want only the most capable hands to carry it on.


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The Next Generation

14 Ideas to Find & Develop Professional, Prepared Managers

The right managers can come from a variety of sources, but make sure the fit is right for both the dealership and the individual.

Finding good, quality employees is a challenge for all dealerships, especially for management level positions. Professional and prepared managers can come from a variety of sources, whether groomed internally, recruited from the corporate world or from the people you know in your local community.


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The Next Generation

Workshop: CapEx Drives Dealership Values

Covering an array of succession planning themes in their opening workshop, consultants Owen and Mast advocated capital reinvestment for immediate, and long-term, results.
Tom Owen and Nick Mast opened the Dealership Minds Summit with a 90-minute workshop on “Strategies for Capital Access & Transitional Wealth Management in Equipment Dealerships.”
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DMS
The Next Generation

Transition Planning Theme Draws Record Attendance

158 gather in Cincinnati for sold-out conference for dealer leaders in January.

With 19 presenters across a mix of general sessions and dealer-to-dealer panels, Farm Equipment’s 2015 Dealership Minds Summit in Cincinnati (at the historic Hilton Netherland Plaza), on January 13-14 attracted 158 industry officials — a new attendance threshold for the event.


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