An “I” for Industry Education
Industry education is generally viewed as an expense and precious time away from the action. People who have been in the business for years believe they are doing a good job. They ask themselves what they can gain from off-site training that will be better than the lessons learned in the on-site frying pan every day.
Education is a career-long undertaking. Learning is a life-long requirement. When the marketplace changes, education makes it possible for our industry to adapt to the change. When the media spotlight hones in on industry ills, education is the best medicine.
Keeping current on regulations that govern the F&I function, mapping an up-to-date F&I process, and employing skills that promote professional F&I practice mean time and money to every dealership. Industry education is the cost effective and time efficient solution.
Choose industry seminars that both inform and motivate. Encourage tenured personnel to utilize training that can help them relocate the F&I basics they put in a safe place sometime ago. Remember that problem-solving time in group discussion is critical to discovering that the refrain, “My customers are different” is synonymous with an excuse for lack of production. While customers may look different and act differently, they want the same thing. They want to do business with a professional they can trust to follow through on promises.
The discoveries made in group studies are just as valuable as the lecture time. When you send your F&I managers to a seminar, make sure they stay at the seminar hotel in order to fully participate in all group-learning activities.
Ask your trainees to make a list of challenges and specific goals they want to achieve from the seminar and share the information with the instructor.
Encourage trainees to call the instructor after the seminar with their remaining questions, or simply to give a progress report. Education does not end with the plane ride home. After the training, the instructor can serve as a mentor for your employee.
Owners who invest in the education of their personnel invest in the future of their business. Growth simply does not occur without investment. When was the last time you invested in the professional practice of your F&I staff? If it has been awhile, take action. Get them tuned up, turned on, and dialed into future profits.
Dealer Marketing Magazine, July 2004, p. 12