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Dealership financial management plays a crucial role in ensuring success and sustainability. Two key positions at the helm of a dealership's financial operations are the Chief Financial Officer (CFO) and the Controller. While both roles are essential for dealership financial health, they have distinct responsibilities and focuses. Understanding these differences is essential for comprehensive …
Continue Reading about Key Differences Between a Dealership CFO and a Controller →
It's never fun working for shady people. I realize "shady" could mean different things to different people, but in the end, when you work for someone you know lacks integrity or is unable to do the right thing, especially in highly regulated industries like the car business, it's tough going to work everyday and wondering if you'll have a job tomorrow. Working in an ethically compromised …
Continue Reading about Dealership Legal Liability is a Growing Concern for Employees →
You'd be surprised what's lurking in car dealership accounting records and financials. I've written and spoken about this a lot and nothing really seems to change that much. I’ve seen the same mistakes repeated again and again, with little progress toward improvement. While some dealers and general managers are aware of the issues and work to address them, for every one that does, there are …
Continue Reading about Car Dealership Accounting “Worst Practices” That Jeopardize Profitability →
Early in my career, I opened a Nissan dealership in Rosemead, California with just the owner and a small team of six others. The location had been shut down for a year before we took over. That’s where I truly learned the ins and outs of the car business, working every role in the dealership (except technician). Our location was far from ideal—so much so that it was ironic our name was “Freeway …
Continue Reading about A Blimp, a Dealership, and Lessons in Financial Stewardship →
