Jeff Bounds with Cardone Automotive hosts 10X Podcast on DealershipNews.com transcript powered by Sonix—the best automated transcription service in 2020. Easily convert your video to text with Sonix.
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Kelly Kleinman:
Hello from Southern California. This is the DealershipNews.com podcast where we bring you the new and old school insight into the business of selling cars and service. So you have the foresight to grow your dealership and stay ahead of the competition. I’m Kelly. Kleinman. Here is our show. Kelly. here. Welcome to our quick cast.
Kelly Kleinman:
Today we are announcing and I am very happy to be doing this. It’s taken a little while for us to put it together, but we will be carrying a regular podcast on our Web site featuring Mr. Jeff Bounds, the Grand Cardone Automotive Resources. Grant Cardone, of course, unless you did living under a Rock for a while. Is the superstar car Car sales trading personality you’ve likely seen or work with in the past? On some level, Jeff is not running the program. He’s our guest today. Hello, Jeff.
Jeff Bounds:
Hey. How’s it going? Kelly. Good to see you, man.
Kelly Kleinman:
Yeah. Good to see you as well. Now we’re going to be carrying the podcast. There’s some other things in the conversation. So standby for that information. But what are you guys rolling out at Cardone Automotive Resources for 2020?
Jeff Bounds:
Yeah, we’re super excited about it. We’ve been working on this essentially like the past, you know, 90 days. It’s one of the reasons why, you know, I come down here, take this position, you know, because the reality Kelly. is that, you know, training doesn’t work. And many people are going to hear that and think, what what is this guy talking about? He’s he’s selling training. The reality is, is that in the industry as we know it, it’s been siloed out. You have the virtual training platforms. We have obviously the best in the marketplace. That has been out there for eight years. We have over two thousand segments. Right. You have people that do the one day to day workshops, but then there’s the. In between. Right. And it’s the reality that, you know, people learn three different ways. Either they learn it by what they hear, they learn it by what they see or they learn it by what they do. So what we’re we’re rolling out is something that’s never been done before inside the automotive industry. It’s called the three step approach to tap all those learning modalities and give automotive dealers the opportunity to really get their people skilled up, train to the impediments, and do it in a way where they can’t fail. And why that’s so important is because the only reason that training wouldn’t work at your dealership is if you people don’t use it. So with that being said, we’re rolling out a coaching program where essentially we’re going to work with the dealerships team every single week. We’re gonna be on a Zoom call like you and I are doing right now. Kelly.. And what we’re going to do is we’re going to do a needs assessment with the dealer.
Jeff Bounds:
We have 20 custom tracks that we have and we have these workbooks in the workbooks that we have are pretty robust. Most of them are anywhere from 20 to like 30 pages specifically on topics that we’ve been able to identify that are the most, I guess, neglected in automotive. And then we’re going to piggyback on top of that by being out at the store every quarter to spend time with the management team, to spend time with the sales team on board new hires and just give them the type of support that I guess the automotive industry has been looking for for the past. I don’t know. Twenty five, thirty years.
Kelly Kleinman:
Well, you touched on it a little bit, but why does training fail? Do people get complacent, too? Are they naturally lazy or do they need constant motivation? What’s the reason?
Jeff Bounds:
That’s a great question. I mean, I think people are misunderstood. Right. And the reality is, you know, in parochial school, high school, college, whatever, we’ve been programmed to learn in a certain way and we’ve been learned to be led in the training process. So, for example, you go to college, you know, your major and your course hears your syllabus. Here’s your outline. Here’s what we’re going to quiz you. Here’s where we’re going to test. Test. You study these three chapters and then we’re going to recap on it. We’re going to do it again. Right. So that’s how we’re programmed to learn. So we go out into the real world and everybody just assumes that people are going to learn in a way that self-directed. And that’s essentially like the definition of insanity, just because of the fact that most people don’t have the wherewithal or the actual initiative to actually do training on their own. So dealers, you know, in good faith realize that their people need to be trained. But the reality is, is that they’re just not giving them a baseline to how to do it successfully.
Jeff Bounds:
So that’s why, you know, the coaching is so important. Like, I just got through watching the Super Bowl yesterday and watching this kid, Patrick Mahomes. That’s, you know, unbelievable. Right. Why is he unbelievable? Well, he’s probably got five or six different coaches, right? He’s got a nutritionist. He’s got a quarterback coach. He’s got probably a mindset coach. You know, he’s got a playbook that he follows. And then he studies, you know, every single week. Right. So why would we do anything different inside of a business in an automotive dealership? You got to spend time with your people every single day, every single week, and then recap it. Make sure it’s working and have a baseline to take it to the next level to be the first one to tell you that unless you and I are telling us something we don’t know. Neither one of us are omnipresent. Right. So you can’t be in front of 12, 15 people and give them the sort of guidance that they need. So you need to implement a process that will get it done.
Kelly Kleinman:
I’m a coach. Do you know the story about, you know what I do? It’s seasonally I’m with the Chicago Cubs scout team. Yeah. And if you looked at that Patrick Mahomes interview and you talk to any of those players, are you listed any of those interviews? They all had a lot of praise for their coach.
Kelly Kleinman:
You know, for and out read they liked playing for him. This is probably the same thing without a motive. You’ve got to like your your manager, right.
Jeff Bounds:
Yeah, I mean, look, the only reason you wouldn’t like sales is just because you don’t know what you’re doing, right? And it’s like, you know, I look at managers, I look at directors of training. And look, I mean, they’re doing the best that they can, but they’re essentially trying to chop down a tree with a pocket knife. I mean, it’s like they don’t have the bandwidth to get done. What needs to be done? I always use another analogy. It’s like it’s like putting lipstick on a pig or a Band-Aid on a disease. Right. You’re not going to cure it. The way that you cure it is you got a partner up with somebody that’s going to provide you the level of accountability that you need to get with your team. Because let’s face it, the automotive industry, you know, it’s the change of the guard. I mean, the old car dogs are gone. You know, it’s, you know, predominately millennial now coming from outside different industries. Maybe they were bartender. Maybe they worked at Best Buy. They don’t understand the culture of automotive. So, you know, for example, this one work, a book that I showed you here, it’s on attitude. Mindset. That’s something that talks about anymore in the automotive industry. Right. So if you don’t have the proper attitude, you don’t have the proper mindset. It’s like building a house on sand. You got to start with that foundation to get their head right and then get him in and get him entrenched into the fact that the reason you’re training is to become great. And then when you become great, that’s when you start to like your job and that’s when you start to make money. And that’s what your career take off.
Kelly Kleinman:
So you’re telling me the old guard is dead? Does that mean that the four square Foursquare method went with it?
Jeff Bounds:
Know it did. It did. But, you know, it’s kind of still around. I mean, you got the matrixes now and everything else. I mean, it’s really essentially kind of the same deal. It’s just we printed it up and made it look a little bit more futuristic, so to say. But, you know, Grant had launched information based selling twenty five years ago. Right. And everybody gave him a hard time. It was like, this is crazy. Nobody is ever going to do it. And and now we’re in 2020. And it it becomes even more relevant today that this is the way. I mean, you got to give customers information. You got to show them a lease. You got to show me one pay. You got to show them a buy you, got a show them a pre-owned. You got to show what the value is on the trade, because if you don’t and you walk away, you’re going to lose their business because somebody else will. So it’s just it’s a changing of the guard man. I mean, you know, I was just talking to somebody the other day about modern retail, like I’m talking about how important that is. There’s a there’s a dealer up in Jersey that’s like killing it on Roadster. right now. Do I think it’s going to completely replace replace people coming into a dealership? No. Do I think there’s a segment of people out there that are wrapped around that? Absolutely. So if you are running a dealer today and you don’t have that, it’s one of your sales funnels, you’re doing yourself a disservice.
Kelly Kleinman:
We’re going to be getting a lot of nice little tidbits, just like what you just heard from Jeff on a regular basis. I think you’re gonna be doing your podcast. When? Every Friday once.
Jeff Bounds:
Yeah, every single Friday at 10:00 a.m. I do a show called the 10X Automotive Weekly, which I’m super excited. Now it’s going to be on the dealership news channel. It’s something that we’re doing to get back to the automotive industry. And so far, the feedback has been incredible. We have a lot of dealerships that they run their Friday morning meeting around this and they discuss it afterwards to kind of try to build on it, make it their own. So, you know, it Cardone automotive resources. We’re just dedicated to giving back to the industry and providing as much content as we can for free. But also realize that, you know, doing one thing one time great doesn’t make you, you know, a master. It takes a lot of work. It takes a lot of commitment. So we’re willing to, you know, get on the train and help you get to that to the next level.
Kelly Kleinman:
Right on the money. Jeff, hey, listen, I want to thank you for joining us on this quick cast. Now we’re going gonna be obviously getting together with you and the Cardone Automotive Resource Podcast. Looking forward to that. And we’ll speak to you soon. We’ll see at the NADA
Jeff Bounds:
Yeah. Yeah, it will be it in NADA where we’re gonna be at booth number 4 0 8 3 C We’re giving away some pretty cool stuff. Just so everybody knows it’s on the podcast if you go and register today. GrantCardone.com/NADA2020. Get the once in a lifetime opportunity to hang out with Grant, Kevin Hart, Magic Johnson, Snoop Dogg and Usher, Eddie Up also have the opportunity to win up to $10000 in monthly training. So welcome everybody to come say hi and Kelly.. I’d love you to stop by as well. Maybe we can do one of these live on the floor in Vegas.
Kelly Kleinman:
That sounds really good. So those celebrities will actually be there. They’ll be at the booth.
Jeff Bounds:
Yeah. Those guys are going to be participating at our 10x growth con, which is the largest marketing conference. It was just actually rated number one by Forbes magazine in the world. So they’re gonna be there the next week. So what we’re raffling off is a ticket to attend the growth conference and then have that meet and greet with those folks. But that’s like a fifteen thousand dollar value as well. So somebody is going to be the lucky winner.
Kelly Kleinman:
It’ll be you. That’s right. If you’re a dealer and you’re going to be at NADA, make sure you get involved in that raffle. Jeff. Thanks again. We will speak soon.
Jeff Bounds:
Absolutely. Great. Appreciate it.
Kelly Kleinman:
Kelly. out.
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