The Dealer Playbook
The Dealer Playbook

Episode · 4 weeks ago

Laurie Foster: How To Make Business Relationships More Profitable


Dealers! What should you do if you have bad vendor relationships?

Vendors... same question!

Laurie Foster is the founder of Foster Strategies and works with car dealerships and vendors to help create more profitable business relationships.

Over the years the automotive industry has accepted lackluster relationships as the norm, but there are many change agents within the industry who are moving beyond simple relationships to develop strong partnerships between dealerships and their allies.

In this episode, Laurie and Michael discuss ways in which dealers and vendors can go beyond relationships into profitable partnerships.

Dealer/Vendor relationships must be viewed as bi-directional, and need to be treated as such. Laurie teaches that when two parties come together to achieve a specific outcome, that's when a partnership is formed. That's when respect is developed, and that's when relationships become profitable for all.

Noteworthy topics from this episode:

2:19 - Once I have the relationship of trust, what do I focus on next to build my dealership business?

5:20 - Awareness, Intentionality, Discovery and Expectations.

12:38 - Vendor and Dealer relationship.

19:06 - Letting clients know how much they blessed your life. 

21:24 - Shifting your mindset from “I have to do this” to “I get to do it”.

26:08 - Turning relationships around.

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