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Articles by Mike Lessiter

Titan CEO on the Public Advantage: ‘Permanent Capital to Survive the Generations’

Titan’s new management team provided Wall Street with an overview of the 95-store dealership group’s 10-year history as a publicly held company along with new initiatives under way to propel the firm in its next chapter.
By Mike Lessiter posted on December 15, 2017 | Posted in Department Management
During his opening remarks to analysts attending Titan Machinery Investor Day in New York’s NASDAQ building on December 12, 2017, David Meyer, Titan Machinery’s CEO, explains the advantages that publicly held companies enjoy in the fragmented dealer industry.
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Titan Machinery’s New Operating Structure: Expert Team

B.J. Knutson, chief operating officer, explains Titan Machinery’s evolution to more centralized operating structure, a change from their early days when Strong Store Manager propelled their initial growth wave. He says it will better serve customers, improve execution and lower costs.
By Mike Lessiter posted on December 15, 2017 | Posted in Best Practices, Operations & Finance, Department Management, Dealer News
B.J. Knutson, chief operating officer, explains Titan Machinery’s evolution to more centralized operating structure, a change from their early days when Strong Store Manager propelled their initial growth wave. He says it will better serve customers, improve execution and lower costs.
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From the Desk of Mike Lessiter

Not All Customers Are Created Equal

By Mike Lessiter posted on December 11, 2017
Give one up to the competition. That disrupter-type customer is more valuable to have in your competitor’s camp than your own. Let brand X deal with that customer and give up their time, energy and mental strain.
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Traditionalists or Change Agents: What Kind of Farm Customers Do You Want?

By Mike Lessiter posted on November 13, 2017
I was in Houston last week for the annual Joint Convention of the Farm Equipment Manufacturers Assn. and Equipment Marketing & Distribution Assn. The sessions concluded with a panel of 3 farm operators who were brought in to share what their world is like. The farmers candidly answered an array of questions, from right to repair legislation, to what they’re willing do to access equipment not carried by their mainline dealer, to their own investments in farm shops and technicians, and how they approached debt and capital spending.
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Comparing Compensation Programs: Focus on What You Want

AgriVision (John Deere) and Livingston Machinery (AGCO) detail the compensation programs they’ve developed to keep attention on used equipment — and the actions they most want to drive.
By Mike Lessiter posted on October 14, 2017 | Posted in Best Practices, Used Equipment Remarketing, Operations & Finance, Department Management
Used equipment experts agree that there’s no silver bullet when it comes to a compensation plan. There are numerous variables, personalities and ways of doing business and no single program is a panacea. But like most things, as a manager, you get to choose which behaviors you most want to drive, and also the set of challenges that go along with them.
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Lessiter
To the Point

Victors of Next-Gen Technology?

By Mike Lessiter posted on October 14, 2017 | Posted in Product Innovations & Introductions
Welcome to our first “Remarketing” themed edition. After nearly a year of to-the-shoulders immersion in used equipment (perhaps nostril-level for conference lead Kim Schmidt), we’re proud to see the Dealership Minds Summit, and this issue, come together. Our two national conferences in Omaha in August showed our audiences’ energy, a “let’s get after it” attitude and a sincere willingness to share what they know. Thanks to all who participated in this sold-out gathering.
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To the Point: Victors of Next-Gen Technology?

By Mike Lessiter posted on October 14, 2017 | Posted in Product Innovations & Introductions

Welcome to our first “Remarketing” themed edition. After nearly a year of to-the-shoulders immersion in used equipment (perhaps nostril-level for conference lead Kim Schmidt), we’re proud to see the Dealership Minds Summit, and this issue, come together. Our two national conferences in Omaha in August showed our audiences’ energy, a “let’s get after it” attitude and a sincere willingness to share what they know. Thanks to all who participated in this sold-out gathering.


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Sponsored Content: Successful Equipment Remarketing Strategies

Thinking 'Small' Pays When It Comes to Moving Used Inventory

Small-store leaders within Farm Equipment’s Dealership of the Year Alumni Group share the actions they’re relying on to guide them through the choppy waters of reducing equipment backlogs.
By Dave Kanicki, Mike Lessiter, and Mike Wiles posted on August 25, 2017 | Posted in Best Practices, Used Equipment Remarketing
A dealer responding to Ag Equipment Intelligence’s November 2015 Dealer Sentiments survey summarized the industry’s current dilemma: “There was a lot of positive activity during the month, but a lot of people passed on making purchases when they saw what their used equipment was valued at. Used pricing is too soft to convert people to make new machine purchases.”
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