Seeing how this economy has affected the auto industry hits close to home.  Having been a former mega car dealer, I can relate with those in the industry who are suffering.  I’ve always believed that the key to getting through tough times is thinking clearly and strategically, which is why I’ve developed a list of 20 steps to help dealers through this difficult period. 

1. Don’t Panic – stay focused.
2. Don’t fire your managers, it’s not all their fault.
3. Ask yourself what you want to look like when the recovery comes.  Then manage toward the outcome. 
4. Run your dealership in good times the way you would in bad times.  You will always be ready.
5. Believe in your business.  There will be an upturn.
6. Do what it takes to remain profitable.  Negative numbers become an excuse for almost anything. 
7. Invest in your dealership.  You will need it. 
8. Talk with your customers, they do like to hear from you. 
9. Cut what’s non-core.  Invest in what is.
10. Understand what business you are in-emotionally.  Be a leader to your employees & customers.
11. Look for the technology-based efficiency.
12. Leverage your supplier relationships.
13. Make an economic downturn a good time to re-examine your business fundamentals. 
14. Start with your dealership phone, is it being answered properly?
15. Ask your employees for help on ways to save money or cut expenses.
16. If you don’t measure your advertising effectiveness, STOP advertising.
17. Take a calculated shot at something that could change the game; a new marketing push or a timely acquisition. 
18. Do what you already know is right – only this time, really do it.
19. Simplify something – it’s bound to help cut costs.  Complexity equals expense.
20. Use this downturn as an opportunity.