Knowledge Equals Huge Profits
Since people go into business to make money, how do we do it? How do we make huge profits? In this industry, there are three major conduits; marketing, the frontline and the service professionals. Nearly all shops have their marketing dialed in and at times, they can make their phones ring off the hook. But what they do with those leads makes the difference between mediocre returns and huge profits.

A major pitfall in this industry is having little or no training for the frontline and service employees. Many times companies put someone on the phone because they know how to use the system and they have a nice voice. Little do they realize but this position alone can have a major impact on revenues. I’ve worked with some companies who believed their frontline, the CSR’s, were closing at 90% or higher, when in reality, many were closing at 45% and lower! The thing is numbers don’t lie and when a company goes from a 40% conversion rate to 80% with training, if they were a two million dollar company, they become a four million dollar company with little investment and minimal effort. 

The service people have an even greater impact on profitability. By simply adding more tasks to invoices, up-selling and eliminating price slashing; invoice averages can double, triple and even quadruple. When this happens, the company sees exponential growth. Next, figure in referrals, not from customer referral cards, but from a regimented, proactive referral system, now growth goes right through the roof. The thing is too many owners focus on gross revenues and adding as many trucks as possible. What they really should be doing is focus on net profits and what they’re doing with their leads.