The Dealer Playbook
The Dealer Playbook

Episode · 8 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 want to scream at me. But there will also be times that I want to scream at you and if we can still just come together in those moments to find clarity and forward movement, then we've got something magical that's gonna last you know, stand the test of time and the word for this. There is one singular word here that this all boils down to and it's respect. So so our relationship is one thing like I can have a relationship with the person that delivers my mail. I say howdy. But when the relationship reaches the respect level, that's when your partner's, when the relationship reaches 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 more than blame. So I anchor all of this to respect. And sometimes companies have to start that internally first actually most of the time do, but that's my secret. I don't like to tell that one in advance because they don't realize how much discord there is in their verticals internally? Sure. Yeah. You know that's that's actually a very interesting thing to are are you having those tough conversations internally? Are you saying, hey, when a client makes a request, don't go there so needy. Like shift your mind. If they aren't making this request, you're out of the job. I really like to do, lift it from. I have to do this to I get to because they're actually giving me information that's telling me something that they need and that's a courtesy. It's actually it's all reframing the entire relationship, Michael. But right...

...now there's so much still adversarial behaviour right now happening right now, all of the vendors are telling me the dealers 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 you doing 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 certain that 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 now build your brand for the future, give you a competitive advantage. They're just all, you know, curling up and running the other way. Like, well, nobody's spending anything. Well, why would they, why would they and why would they with you? How have you built your value for this economic season that we're in that unlike I've been at this a long time. I've never seen anything like this. Whether, you know, 34 afghan fifties and nothing else on an 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 is constantly telling your dealers to adapt and embrace this new age, guess what Friends, your europe to bath. It's your turn like that food doesn't taste quite as good when you have to like show down it a little bit and I say that with love towards everybody, but this is all I see what everyone's it's always 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 to this 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 would say truthiness. I like it. I like that word because I don't pretend to know all of the answers for them...

...specifically, but I'm gonna find out what'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 a baseline, we can go forward. Yeah, yeah, yeah. Mhm. I'm Michel Cirillo and you've been listening to the dealer Playbook podcast. If you haven't yet, please click the subscribe button wherever you're listening right now, leave a rating or review and share it with a colleague Thanks for listening mm.

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