Thriving In A World of Change
by Allen Dobbins – President & CEO, AutoStar Solutions
One of the most engaging and enticing elements of the buy-here-pay-here-industry is also one of the most frustrating … Change. I think we can all agree that some of the biggest challenges facing our industry stem from the constant bombardment of new rules, regulations, market shifts, consumer trends, and other variables that force us to alter the ways in which we conduct business.
In recent years, this issue has become more apparent than ever as our industry is now firmly under the political and media microscope. It can be overwhelming to say the least. However, one thing remains constant: The best way to deal with change is to evolve and make the proper adjustments to your own operations.
I can’t stress this fact enough. There is simply no room for complacency in this business, or really in any business. The fact of the matter is that the organizations that stick with the status quo are doomed to become irrelevant, while those that adapt and evolve will inevitably stand the test of time.
Admittedly, making the right adjustments is not always easy, but taking appropriate risks can pay off huge dividends – and continue to do so for years to come. Take Apple, for example. Do you remember all of the buzz when they first debuted the iPad a few years ago? Everyone was talking about it, people started incorporating the new device into their daily lives, and now, a mere four years or so later, tablet devices have completely transformed the world of business and personal computing.
When I stop and take a close look at the buy-here-pay-here industry, I see an abundance of uncertainty and downright fear when it comes to change. And yet, at the same time, I’m fascinated by how quickly we as a community are able to adapt.
It was only a few years ago that leasing was a new business model for independent dealers, and now we’re seeing more and more dealers convert over to the new paradigm. Over the past two years, we faced an unprecedented era of legal revisions, and the industry responded with new solutions like Hudson Cook’s Counselor Library, organizations like the Community Auto Finance Association, and the in-depth compliance training we introduced at our annual Innovate conference.
The tools and training are out there for the organizations enterprising enough to stand apart from the pack of mediocrity. Right now, at this moment, I want you to take a long hard look at your own business and decide for yourself. Are you content to carry on with business as usual, or will you rise to the occasion and make the adjustments necessary to thrive during these challenging, ever-changing times?
If you chose the latter option, then I applaud your fortitude and recommend that you begin arming yourself with the latest industry knowledge and research needed to proceed accordingly. You have a big opportunity to do exactly that at AutoStar’s 2014 Innovate conference, where you’ll learn the very latest secrets for thriving in a constantly changing industry.
Every year, since the show’s inception, our team has redefined and transformed the Innovate conference to be bigger and better than the one that came before. This year is no different, with an even stronger commitment to vital industry and compliance issues. We will provide intense training in raising capital, collections, management, technology, and of course, legal and regulatory compliance.
Just take a look at our 2014 conference schedule. In my opinion, this will be our most ambitious conference to date – a real game changer. And we would love to see you among the 500+ other dealers who want to maximize their businesses in the coming year.
Innovate 2014 will be Sept. 21 through Sept. 24 at the Gaylord Texan Resort & Convention Center in Grapevine, Texas.