NADA Prep:What Do You Need to Succeed?

A pre-conference needs assessment will help your focus -

If you are choosing to include a trip to the National Automobile Dealers Association(NADA) convention in your list of New Year’s resolutions, take a moment to address your goals and objectives. Do your homework, so if you do go, you'll get the most out of it.

Successful leaders should study the three R's (review, research and resources) before making a commitment to attend any conference. Follow this outline to make an informed decision regarding your travel plans. If you plan accordingly, your dealership will make the most of the NADA conference, and you'll walk away with the tools to achieve a successful 2010.

Review

First,assess the current status of your dealership. Have you reviewed past years' successes and failures?  Your 2010 plan should expand on the successes and address the missed opportunities. List the top five objectives you wish to accomplish in 2010. Review your organizational structure and communication strategy. Assess your training and coaching plan. Is it effective? If you are modifying your staff protocols, is your staff trained to adapt to the changes?

Research

Know the realistic market potential for sales within your dealer market area for each brand you sell, for pre-owned vehicles, and for parts and service.Establish goals for your dealership and assess which marketing tools brought you the most success, and where you would like to improve. Consider shifting your marketing budget to capitalize on emerging technologies, and phased out antiquated, costly forms of marketing.

Resources

Evaluate your resources, both financial and human, to meet your 2010 goals. 

• Do you have your profit loss, balance sheet and inventory ready for review? 
• Do you have the proper compensation plans in place?  Is your financing for inventory on a solid foundation? 
• Do have the right mix of both variable and fixed operations accessory financial products?
• Are additional technologies needed to improve your ROI immediate? 
• If you need additional technologies, do you have sufficient resources in place?

If you address these questions in today's volatile marketplace, you can arrive at NADA with a clearer sense of your objectives, and enjoy a more productive conference.

How can the seminars at NADA assist you to create an atmosphere for organizational growth and change?  NADA provides multiple training and educational tracksthat are easily tailored to individual business needs: Strategic Business Management and Succession Planning; Business Development—Finding and KeepingYour Customers; Vehicle Sales—Performance and Profitability; FixedOperations—Advantages of Unity and; Human Resource Management and Development.

Planning for NADA
Take the time to efficiently map out your visit before departure. Although the conference is right around the corner (February 12 - 15), you still have time to create an effective pre-conference plan. 

While you are planning your seminar schedule, remember that NADA is not only educational, but fun, too.  Plan on networking with friends and associates, greeting vendors and enjoying the beautiful weather and entertainment.  Some of your "fun time" might even lead you tolearn about additional tools that could bring your dealership additional profits.

If a trip to NADA is in your business plan for 2010, pre-plan your visit, and save a little time for friendly conversations and relaxation.