Learning from the last year helps predict the next.
We look at our profit and loss statements, income statements, and we set profitability and sales goals. We also set goals as far as parts margins and paint materials. We’re constantly working on how to increase our margins whether it’s through negotiations, through a price match or whatever we have in our arsenal to better our deal. Cost isn’t everything, you’ve got to have the service side with it, too, because one of the benchmarks we track is our “length of rental” reports. We make sure our cycle time statement is where it needs to be and that we’re getting those people back in their vehicles as soon as possible.
Eddie Dietz, Vice President, Lefler Collision and Glass,
We’ve had pretty substantial growth each year. We’re in the top 35 of the fastest growing businesses in Memphis. We take history and days of the month into consideration, then we factor in what we think our growth should be for the next year and filter it into the number of months because some of our business is seasonal.
Doug Mick, Operations Manager, Tag Truck Center,
Taking a good look at the past year is a vital part of our strategy to move the business forward. It’s important that we look critically at our entire operation to make sure we understand how we could have done things better, even if we think we were successful. Certain influences, like the economy, can keep you from achieving your goals, but we always try to move forward with training, new suppliers and cost-cutting measures. We always try to get better at customer service.
Ken Lawrence, Owner of American Collision Experts,