So, You Had a Record Month in Car Sales—Congratulations! Now What?
In the stock market, brokers analyze commodities, future earnings estimates, and consumer confidence. These are leading car sales indicators of where the stock market is headed. With this information, they can make educated decisions, buying the right stocks based on projected market trends, knowing that today’s market was shaped 30, 60, or even 90 days ago.
The Cycle of Record Months
How many times have you seen dealerships or salespeople achieve a record month in car sales, only to see a significant drop the following month? Maybe you sell 25 cars in one month, and the next month you sell only 10. Why does this happen?
You might think that after making a substantial amount of money, you got lazy or too comfortable. While this can be true, the reality is that having a record month requires a tremendous amount of work. If you sell 25 cars, you have 20 to 25 deliveries to make—maybe even more if you have split deals. Then you must manage trades and chase down “we owes” and stipulations. The problem is that when you sell 25 cars in a month, you have all this work to do and often lack the time to follow up, prospect, or fill your sales funnel. By the 15th of the next month, you might only have 5 or 6 cars in the pipeline.
Leading and Lagging Car Sales Performance Indicators
Just like the stock market, dealerships have leading and lagging indicators. The follow-up and prospecting you do in a month don’t directly determine that month’s sales but will significantly impact the next two or three months. The leading indicators this month are actually lagging indicators of what you did 30, 60, and 90 days ago.
When you experience a slow sales month, you didn’t necessarily have a bad month. You may have had a bad month 60 or 90 days ago. For example, if you want to have a successful August, you need to focus on follow-up calls, sending out your 20 emails and 20 texts, and filling your funnel during June and July. By consistently doing the right things every day, you can recession-proof yourself.
Setting Yourself Up for Success
Record months are busy, but you must carve out time for activities that will set you up for success down the road. When you prioritize leading indicators daily, you guarantee your success for the coming months and years. What you do today will define who you are and what you achieve tomorrow—and every day after.
Your Action Plan
What are you doing today to guarantee your success tomorrow?
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