Business advisors use the term “future proofing” to describe the discipline organizations need to prepare for generational success — economically, technologically and culturally. Peter Drucker captured the essence of this discipline in his famous distinction between management and leadership: management is working in the business and leadership is working on the business. Dealer principals and senior leaders often become consumed with the day-to-day — inventories, used valuations, service...

"Some things never change.” “It is what it is.” “A penny saved is a penny earned.” “Money can’t buy happiness.” Why do we use these common, everyday phrases that are so obvious they are almost not worth saying? And what are similar truisms that have been used for a long time in a dealership? Here are some other common examples of everyday truisms: “The apple never falls far from the tree.” “Patience is a virtue.” “Time is a great healer.” “Everyone makes mistakes.” Truisms are called such...

The current downcycle will test dealer leaders, particularly newer untested leaders and managers, who must also deal with the turbulence...