I love the car business, and it has been very good to me financially. All my friends are in the business. Together, we share war stories about customers and deals from years past and laugh. It’s a fun business filled with many wonderful people.
But there is a downside to our business too. The hours we invest in the dealership are rigorous and we often miss opportunities to spend time with the people we love or doing the things we love to do.
Car guys (and gals) make sacrifices.
In my case, I couldn’t get away from the store very long without people getting frustrated. If I left, we missed deals. Running down the street for a quick bite to eat was impossible. So, salespeople brought me bags of fast food. Yummy.
Then, one day in 2002, I collapsed from chest pains. This was a result of poor diet, lack of exercise and the stress that can come from this industry at times. I learned that on some level I needed to make some adjustments if I wanted to see my daughter, age 2 then, grow up.
Everyone has a different path, but for me it was trying to have what former NBA player and motivational speaker, Walter Bond, refers to as “Habits and Rituals”. And, at that point it was clear that I needed better “habits and rituals”.
When we adopt a slightly better quality of life by making a little time for something important, we reward ourselves. It’s an important reminder of “why” we work in the first place.
How it works
Happiness is a drug. Literally. Our brain releases a chemical cocktail for us to experience based on our actions. Take Dopamine, when you reward yourself with things like success, your brain releases dopamine, the reward chemical. And it feels great.
We get shots of dopamine when we do things for ourselves.
But it’s not enough to make you happy. It’s good, but regardless of how much money you make or success you have in any area, you’ll still be missing the second component.
Oxytocin is the other chemical your brain needs to experience before you can actually feel happiness. It is mandatory if you want to feel complete. Oxytocin is released when you do things for other people. It is a feeling of family, team, organization or community. It is belonging.
We get Oxytocin when we help other people and we get Dopamine when we help ourselves. We need both for happiness.
Too much in either direction and you’ll be unbalanced and unhappy.
Let’s say that I spend all my time “crushing it” everywhere I go. I go to the gym and “crush it”. I go to work and “crush it”. My bank account is “crushing it” and I am filled to the top with dopamine. Could I still feel empty?
Yes. I’ll feel empty because I’m missing the oxytocin that comes from things like love and team. We need that feeling of love and acceptance. This ties directly into our interactions with customers.
Our goal should be finding balance. Finding the blend of dopamine and oxytocin is the key to finding happiness in the box. Ideally we should strive for a situation that rewards us in both areas.
In the box, our goal should be to bring that same chemical cocktail to work with us. By focusing on making money for ourselves we create dopamine. By focusing on solving problems for people we create oxytocin.
When we are able to find a great blend of these two, our lives improve.
Ideally, we want to teach our customers about the products that help solve their future problems – while getting paid nicely for providing the solutions.
That, in my opinion, is essence of good F&I.
By: Lloyd Trushel
President / COO
The Consator Group
What makes Consator Group different?
We believe… that there is a better way to conduct business than the status quo. In our experience, when transparent and intelligent communication occurs between F&I and their customers, profits and satisfaction go up for all parties. Conversely, when the communication is poor and dysfunctional, profits and satisfaction go down for all parties.
We are experts… in the automotive industry, with each of our principal level consultants having over 20 years’ of automotive experience. Their areas of experience include automotive finance, all areas of variable operations, financial lending, process consulting, insurance, ancillary products, the study of social sciences and the understanding of consumer buying habits.
We create a better F&I experience… by teaching F&I managers a deeper understanding of today’s buyers. We skip the typical sales cliché’s and antiquated methods. Our process is simple and straightforward. We dig into real consumer behaviors and purchasing habits so that we can educate your staff and consumers. The result is a more profitable transaction for the dealership and a happier consumer.
CONSULTING – TRAINING – PRODUCTS – WEALTH DEVELOPMENT – REINSURANCE – COMPLIANCE