Success by Numbers: How to Use Benchmarks to Drive Change
Benchmarking can drive change in your dealership to help with budgeting, future decisions, planning and forecasting. This process helps you examine the best standard of performance for your dealership. The first step is to look for the areas in your dealership that need improvement. Once the proper data is collected, then you can begin studying the strategies on how to improve and drive change.
Your next step should be to get an outside perspective. Working with a consultant is key, as they can help you understand KPIs and the overall business process at a higher level. Many organizations often don’t know why a strategy or idea doesn’t work or stick, so a consultant can help influence others. An outside perspective can help you better understand the why behind new ideas and concepts, which can lead to success.
Another great advantage to an outside perspective is being able to adopt best practices without affecting your dealership’s culture. A consultant can you help you stop bad practices by performing a weekly high-level review of your dealership’s statistics . Stopping bad practices before waiting an entire year for change can increase your success by a fortune. Consultants can also look at trends across the industry to see which best practices can have the greatest impact on your dealership and workflow. Finally, an outside perspective can also help you better understand KPIs and benchmarking, business processes and accountability.