The Dealer Playbook
The Dealer Playbook

Episode · 3 months ago

Relationship vs. Partnership: What's The Difference? w/ Laurie Foster

ABOUT THIS EPISODE

Anyone can develop a relationship, but there is a key difference when it comes to developing strong partnerships. 

In this quick snippet from the full episode featuring Laurie Foster, listen as she explains the difference between just having a relationship with someone and developing a profitable partnership. 

Can we achieve this outcome in the retail automotive industry?

Yeah. Mhm. Yeah. There will be times where you will wantto scream at me. But there will also be times that I want to scream at you andif we can still just come together in those moments to find clarity andforward movement, then we've got something magical that's gonna last youknow, stand the test of time and the word for this. There is one singularword here that this all boils down to and it's respect. So so ourrelationship is one thing like I can have a relationship with the personthat delivers my mail. I say howdy. But when the relationship reaches therespect level, that's when your partner's, when the relationshipreaches the respect level, that's when you actually care about the outcomes,not just for yourself but for the other, when the relationship reaches respect,you will listen more than talk. You...

...will give the benefit of the doubt morethan blame. So I anchor all of this to respect. And sometimes companies haveto start that internally first actually most of the time do, but that's mysecret. I don't like to tell that one in advance because they don't realizehow much discord there is in their verticals internally? Sure. Yeah. You know that's that's actually avery interesting thing to are are you having those tough conversationsinternally? Are you saying, hey, when a client makes a request, don't go thereso needy. Like shift your mind. If they aren't making this request, you're outof the job. I really like to do, lift it from. I have to do this to I get tobecause they're actually giving me information that's telling me somethingthat they need and that's a courtesy. It's actually it's all reframing theentire relationship, Michael. But right...

...now there's so much still adversarialbehaviour right now happening right now, all of the vendors are telling me thedealers don't want to spend money because there's no inventory. I'm like,why would they I want to spend money with you, sir, Because what are youdoing like right now? So they just take a side and they threw marketing. Well,how do you stand out? How do you be the one that says, you know, I'm certainthat right now with the inventory, you know, scarcity that this is common.Here's why staying with us right now, it's going to help your visibility nowbuild your brand for the future, give you a competitive advantage. They'rejust all, you know, curling up and running the other way. Like, well,nobody's spending anything. Well, why would they, why would they and whywould they with you? How have you built your value for this economic seasonthat we're in that unlike I've been at this a long time. I've never seenanything like this. Whether, you know, 34 afghan fifties and nothing else onan entire lot zero BMW is 14 of...

...something, but they're all pre sold.Right? So I've never seen anything like this. So if you're a vendor who isconstantly telling your dealers to adapt and embrace this new age, guesswhat Friends, your europe to bath. It's your turn like that food doesn't tastequite as good when you have to like show down it a little bit and I saythat with love towards everybody, but this is all I see what everyone's it'salways put so many are quick to say, well what dealers aren't doing well,what are you doing? Like back up? Why are you struggling with your dealers?Why aren't you coming up with faster messages? Why aren't you adapting tothis new wrinkle? Like let's go. You know when they, when I talk to them,you used the word? That was good. It's candid, candid um Stephen Colbert wouldsay truthiness. I like it. I like that word because I don't pretend to knowall of the answers for them...

...specifically, but I'm gonna find outwhat's happening and we're going to get to the root of it and we're gonna,we're gonna figure out where we need to start and we're gonna just move forward.Doesn't matter who or why. But now now that we know and we have candor as abaseline, we can go forward. Yeah, yeah, yeah. Mhm. I'm Michel Cirillo and you've beenlistening to the dealer Playbook podcast. If you haven't yet, pleaseclick the subscribe button wherever you're listening right now, leave arating or review and share it with a colleague Thanks for listening mm.

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