Management By Expense (Part 1)

Episode 01 October 29, 2021 00:22:29
Management By Expense (Part 1)
Predicting the Next Paycheck
Management By Expense (Part 1)
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Show Notes

Mini Series Description

Prior to the pandemic, Car Dealer Principals had adopted the behavior and language of using data to make decisions. At conference after conference, many Dealer Principals spoke of their successes that were due to making data-driven decisions. In making data-driven decisions, Dealer Principals were supposedly letting the data drive their decisions to achieve better predictability over their business outcomes.

As businesses were coming out of the stay-at-home orders, car dealers had a rude awakening. The sales side of their operations was deemed non-essential. State and national dealer organizations scrambled to communicate with elected officials to allow car dealers to resume selling cars. The patience of dealers and the work of dealer organizations paid off. Just a short time later, the issue was resolved, and dealers could sell cars again.

As the dust settled for Dealer Principals, who resumed operations safely with social distancing and home deliveries, most of these dealers made a completely non-data-driven decision. Eighty-eight percent of all car dealerships accepted Paycheck Protection Program funds to save their businesses.

How could have so many Dealer Principals accepted Paycheck Protection Program funds if they were making data-driven decisions? Because they could not predict their next paycheck.

Predicting The Next Paycheck is a three-part podcast miniseries assessing the behaviors of Car Dealers and their data-inspired decisions. Featured in this miniseries are business executives who operate in the automotive data science space.

 

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This podcast mini series is brought to you by automotiveMastermind.

automotiveMastermind is a leading provider of predictive analytics and marketing automation solutions for the automotive industry. The company's sales and marketing platform, called Mastermind, empowers dealers to close more deals by predicting future buyers and consistently marketing to them. Mastermind generates success in dealership's loyalty, service, and conquest portfolios through a combination of turnkey predictive analytics, proactive marketing, and dedicated consultative services. Visit automotivemastermind.com to learn more.

 

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Credits

Executive Producer, Dennis Wisco | Instagram @wisco_dennis

Theme Music and Sound Design, Chris Skipper | Instagram @skippermusic

Editor, Stephen Fogel

Contributors, Rana Akaya-Meier and Nikki Little

Featured Guests (in order)
Elizabeth Kalaj, automotiveMastermind
Mike Spadafore, Ford
Ian Grace, automotiveMastermind
Michael Moses, automotiveMastermind

Featured Songs/Artists
Annihilator by Charles Ross Ryan
Solace by Benjamin Mark Tatlow
Bionic by Ofir Gruber
Morning Sunbeams by Yehezkal Raz
Night Chase by Rax Burg
Come True by Aviv Meshulam
Oscillating Form by Charles Ross Ryan
Anthem of a Quirky Hipster by Sean Fischer

 

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Episode Transcript

No transcript available...

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Mini Series Description Prior to the pandemic, Car Dealer Principals had adopted the behavior and language of using data to make decisions. At conference after conference, many Dealer Principals spoke of their successes that were due to making data-driven decisions. In making data-driven decisions, Dealer Principals were supposedly letting the data drive their decisions to achieve better predictability over their business outcomes. As businesses were coming out of the stay-at-home orders, car dealers had a rude awakening. The sales side of their operations was deemed non-essential. State and national dealer organizations scrambled to communicate with elected officials to allow car dealers to resume selling cars. The patience of dealers and the work of dealer organizations paid off. Just a short time later, the issue was resolved, and dealers could sell cars again. As the dust settled for Dealer Principals, who resumed operations safely with social distancing and home deliveries, most of these dealers made a completely non-data-driven decision. Eighty-eight percent of all car dealerships accepted Paycheck Protection Program funds to save their businesses. How could have so many Dealer Principals accepted Paycheck Protection Program funds if they were making data-driven decisions? Because they could not predict their next paycheck. Predicting The Next Paycheck is a three-part podcast miniseries assessing the behaviors of Car Dealers and their data-inspired decisions. Featured in this miniseries are business executives who operate in the automotive data science space.   **********   This podcast mini series is brought to you by automotiveMastermind.automotiveMastermind is a leading provider of predictive analytics and marketing automation solutions for the automotive industry. The company's sales and marketing platform, called Mastermind, empowers dealers to close ...

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Mini Series Description Prior to the pandemic, Car Dealer Principals had adopted the behavior and language of using data to make decisions. At conference after conference, many Dealer Principals spoke of their successes that were due to making data-driven decisions. In making data-driven decisions, Dealer Principals were supposedly letting the data drive their decisions to achieve better predictability over their business outcomes. As businesses were coming out of the stay-at-home orders, car dealers had a rude awakening. The sales side of their operations was deemed non-essential. State and national dealer organizations scrambled to communicate with elected officials to allow car dealers to resume selling cars. The patience of dealers and the work of dealer organizations paid off. Just a short time later, the issue was resolved, and dealers could sell cars again. As the dust settled for Dealer Principals, who resumed operations safely with social distancing and home deliveries, most of these dealers made a completely non-data-driven decision. Eighty-eight percent of all car dealerships accepted Paycheck Protection Program funds to save their businesses. How could have so many Dealer Principals accepted Paycheck Protection Program funds if they were making data-driven decisions? Because they could not predict their next paycheck. Predicting The Next Paycheck is a three-part podcast miniseries assessing the behaviors of Car Dealers and their data-inspired decisions. Featured in this miniseries are business executives who operate in the automotive data science space.   **********   This podcast mini series is brought to you by automotiveMastermind.automotiveMastermind is a leading provider of predictive analytics and marketing automation solutions for the automotive industry. The company's sales and marketing platform, called Mastermind, empowers dealers to close ...

Listen