I hear it again and again from dealers. While technology – including social media – is becoming increasingly important in the dealership world, people are what really make a dealership successful. This week I talk with one of the founders of Auto Spot Guam, a family-owned group on that U.S. territory island, about the importance of people.
Donna Muno-Quinata comes from a family where working in a dealership is a tradition. But her son is the first in the family to actually form a dealership group. We didn’t even talk about social media as a strategy for success. Instead, we talked about the importance of treating people right – going that extra mile – and building relationships. She and her son are two very determined individuals, and I foresee more stories about Auto Spot expanding.
Succession doesn’t seem to be an issue with Auto Spot. The family is large and involved in the dealership world at all levels. Here in the continental U.S., however, succession is becoming a real tribulation for some family-owned groups.
This week we revisit a piece by James O’Sullivan and Stephen Linzer, attorneys at Tiffany & Bosco, on the importance of mapping out your trip down the road to succession. It’s not as easy as going to AAA and ordering a Triptik but one can create a road map of sorts to help reach the destination.
As always we have Transaction News.
Enjoy!
