While I’m definitely open to anybody that can help me do my job better, I do have a certain pet peeve about those individuals that have NEVER done it themselves. Isn’t the sports analogy “armchair quarterback” and the travel analogy “backseat driver?”
There are a lot of people that think I call this out so much because so many of my contemporaries have no retail automotive experience whatsoever and that is partially true. Well, it’s absolutely true. But… I’ve always been this way. Even more so at the dealership. I remember sitting through my first sales training class and leaving with a bunch of notes that were weaker than circus lemonade. After class I asked the presenter at which stores he’s worked, what positions he’s held, etc. I give the guy credit for being honest and not throwing anything at me when I started laughing in his face at his answer, “I’ve never been in the car business.” Motivational coach my arse, my mortgage motivates me, my car payments motivate me, having money in my pocket motivates me!
So for the first 4 years of my retail career I was under the perception that nobody could offer practical and real world teachings from first had experience outside of my boss, who was the greatest. That is until I met Mike Cotrufo and Mike Perruzzi. I was a Finance Manager with an MBA, a chip on my shoulder and ready to mix it up with anybody, anywhere, anytime (including a pro-football player in my GM’s office).
Mike Cotrufo was, and is, an F&I services company rep and he literally got through my thick skull and taught me a menu presentation process that not only was efficient but actually raised my PVR. When I give him my normal “oh yeah buddy, but can you do it” he got in my face and told me to stand up. He started spinning paper right there before my eyes. I immediately felt admiration, respect and fear. I was scared because I was kind of cocky to him and he obviously was the real deal. I would never have the understanding of finance products and how to properly and effectively present them without Mike Cotrufo. Not to mention the fact he took time with me, delivered contracts to the store on Saturdays because I didn’t realize I was running low and always took my calls which were usually rants (more often back then).
Mike Perruzzi was, and is, a captive lender rep and not only got me through my first funding delay but also taught me how to look at a deal as a bank does. He explained PTI, DTI, advance, the effect certain products would have on those and most importantly, much like Cotrufo, got in my face and told me to get up. He jumped in my chair and immediately established himself as a man not to be trifled with. Not only has he done it but he’s been doing since before I knew what MSRP meant.
I’m giving these two gentlemen credit as professionals, for having patience and as good friends but most importantly because they’re what I’ve always wanted for myself. This is over 10 years ago and I still remember exactly how relieved I was when a vendor with actual first hand and relevant knowledge helped me to become better. That’s the piece so many on this side are missing today. It’s not their fault, they didn’t have the good fortune I did to meet a Mike Cotrufo and a Mike Perruzzi. Not to mention the fact that both of these gentlemen are amazing at their respective fields I absolutely credit them with pieces of my own fundamental understanding of the retail automotive industry. They made me better at what I was doing. I was therefore performing at a higher level. Without that firsthand and practical knowledge I wouldn’t have the knowledge I have and they wouldn’t be as effective as they are. So there’s the history behind the reality of why I feel so strongly about vendors having real world knowledge!
Chris Vitale is Vice President of Sales at iMagicLab. He has over 15 years of in dealership experience and is quick to call it like he sees it. If you want a no holds barred look into effective CRM deployment and use, follow Chris @thecrmgod on Twitter and connect with him on LinkedIn.
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