News & Views

"Isolation Is The Enemy Of Wealth"

As entrepreneurs I think it is fair to say that the primary goal is to grow our business. We strive each year to increase sales, reduce expenses and grow the company's profit. However, there is a "leading killer" lurking out there that will put the brakes on growing your business faster than anything else. Find out what.

How Have Things Changed in the Retail Finance Market?

Consumer Retail Finance is the lifeblood of so many industries. The auto industry was built on the ability to provide affordable financing to its customers. You can't open a newspaper or watch TV without being flooded with ads for affordable financing. But is retail financing really as accessible as it was? Read more.

What Is The Role of a CEO?

It's a fact that you never know what life is going to throw at you. For me, this weekend was no exception. It started late Friday afternoon when Charlie, my Australian Sheppard went nuts in the backyard after he saw a black cat walking the fence. Of course Sasha, my younger Aussie decided she had to get into the mix. Charlie, the ALPHA dog let Sasha know she was intruding by biting her hind quarter, which he has never done before. Read more.

The Difference Is In The Detail

When business is not progressing as we hoped we tend to look for one specific reason. For example, a dealer may believe he/she has excessive inventory that's killing his/her sales. This may be a problem for the business, but are they sure it is the only thing eroding their profit? Read more.

Are You Maximizing Your Service Department Income?

Your Service Department can and should be your best profit producing department in your dealership. Unfortunately this is not always the case, however there are a number of factors and hard targets you can review to identify any shortcomings you may be experiencing. Read More.

How Do You Record Manufacturer Rebates?

Finding a level playing field when analyzing financial statements is critical to providing accurate results. One of the key pieces to your financial puzzle is a detailed margin analysis of your unit sales. It makes sense that you must be comparing apples to apples for these results to have any value. It also follows that manufacturer rebate programs can put a real wrench in the analysis if not recorded correctly. Read more.

What Can We Learn From The Olympics?

I believe we can learn a lot about life and business from sports. What better example than the Olympics that just ended a 17 day extravaganza. I know of no other time when the world joins together under one umbrella to compete against each other on equal terms simply for the joy of sport. Read more.

What's In It For You?

Frank Rumbauskas, creator of the Never Cold Call Program, writes that the reason we don't open unsolicited emails is because we know full well that it's someone either trying to sell us something or trying to get something for free. In other words, there's an instant perception that there is no value in it for me. He writes that the acronym for this is called WIIFM = What's In It For Me. The newsletter you receive from Lifeline Business Solutions is very focused on providing you a WIIFM that may just help you better manage your business. Find out what's your WIIFM.

Understanding The Critical Elements of Forecasting Sales

One of my biggest pet peeves in the Motorsport and Marine industry is the method in which you are required to book your unit purchases for the next season. The system does not make sense when you consider you have to place your order 6 to 8 months in advance of the season with very little or no information to base your decision. There are a number of things you can do to minimize the risk of placing the right booking order and maximizing your potential sales. Learn how.

Why Did You Get Into Business For Yourself?

When times are tough and the economy continues to sputter, this is the million dollar question we all ask ourselves. If you are anything like me, you have probably asked this question a thousand times over the last few years. The obvious answer is to make money and provide a good living for yourself and your family. Let me tell you a little bit about why I started Lifeline Business Solutions and how my experiences may benefit you. Read more.

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