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Welcome to the August 17th, 2018 issue of Agent Entrepreneur, a monthly eMagazine dedicated to the interests and concerns of general agents and entrepreneurs in the automotive finance and insurance industry.

Agent Entrepreneur is your source for industry news and updates as well as original feature articles to keep you well-informed of best practices and trends.

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Featured Articles
Are You Managing Too Many Provider Relationships?
Diversity is a good thing, but established agents have learned to strategically reduce their provider roster to streamline and optimize their offerings.

By: Doug Frey

Baseball great Yogi Berra once said, “You’ve got to be careful if you don’t know where you’re going, because you might not get there.” Yogi, famous for muddling his words, likely meant to say, “If you don’t know where you’re going, you might get there.” ... Read More »
With Great Leasing Comes Great Responsibility
Leasing is picking up as a percentage of all new-vehicle sales, but the failure among agents and dealers to enforce the necessary disclosures is creating a major compliance gap.

By: Gil Van Over

Leasing is the industry’s rollercoaster. It rattles around the bottom of the track after risk managers pull back on leasing as a result of residual losses. It starts ascending toward the crest again as short-memoried marketing managers and manufacturers begin aggressively leasing as a way ... Read More »
Training Options: Online vs. Onsite
Agents who rely on outside training have a number of options to choose from. Expert weights the pros and cons of instore, classroom, and online training.

By: Chad White

Everything we do today seems to be driven by technology. We are even replacing simple “facetime,” and that is not referring to the app on our phones. There is clearly more information at our fingertips than ever before, knowledge at the push of a button. ... Read More »
Meet the Executive
An Interview with Jose Fleites
Jose Fleites brings a wealth and diversity of experience to his new position as AUL Corp.’s CIO.

By: Tariq Kamal

In March, AUL Corp. named Jose Fleites as the company’s new chief information officer. He joins a growing company that will rely on his expertise to continue the expansion of its product lines and industry footprint. In the company’s announcement, President and CEO Jimmy Atkinson ... Read More »
Summit Updates
Industry Summit to Focus on the Future of F&I
TORRANCE, Calif. — Get compliance certified, hear from the F&I industry’s leading product providers, experience the latest digital retailing solutions, and learn from the industry’s top F&I trainers. That will be the scene this October at the Caribe Royale Orlando in Orlando, Fla., where dealers, ... Read More »
Harkins to Emcee PALS, Compliance Summit at Industry Summit 2018
ORLANDO, Fla. — Robert “Bob” Harkins will serve as master of ceremonies for this year’s Compliance Summit and P&A Leadership Summit, both of which will be held as part of the upcoming Industry Summit, organizers announced. Harkins is a fixture of the Summit series of events ... Read More »
PALS Names 2018 Advisory Board Members
ORLANDO, Fla. — Organizers of the annual P&A Leadership Summit released the advisory board roster for the 2018 event, which will be held Oct. 8–10 at the Caribe Royale Orlando in Orlando, Fla. Led by longtime advisory board chair David Trinder, CEO of F&I Administration Solutions, this year’s ... Read More »
F&I Success
Who Motivates the Motivator?
Agents who seek and engage mentors position themselves to continually improve their F&I training and client-management skills.

By: Rick McCormick

Agents are expected to provide information and support for products, training, software, and, most importantly, to get results! We are expected to keep the F&I team motivated to reach their highest potential. However, after long days of dealership visits, your vehicle’s gas tank is not ... Read More »
Hot Tips
Ask Your Customer to Think About It
John Tabar of UDS with this week's tip!

Hello everyone, John Tabar from UDS. I bet I know what you're thinking, I've lost my mind. If the customer is thinking about it, that creates an advantage. I have a question for you? ...

Watch the Tip Here »
AE HOT TIPS
Word Tracks or Word Ruts?
John Tabar of UDS with this week's tip!

Hello everyone, John Tabar from UDS. I have a question for you today. Has your job become routine? In working with F&I managers that have slipped in production a little bit and are looking to regain their edge, there's something I've noticed, and the video shows ...

Watch the Tip Here »
AE HOT TIPS
 
Small Business Tips
Why Communicating Company Goals Is Key For Employee Growth
Business transparency toward customers helps build loyalty and increase sales, but such transparency also matters for employees to build their trust in the company and encourage their growth. The mission statement of a business shares its dedication to service and particular goals, and everyone in the company needs to be on board, reports Forbes. Staff ... Read More »
Your Clients Have Decision Fatigue, You Caused It and It's Killing Sales
Prisoners up for parole have the highest likelihood of being released based on one surprising factor, reports Entrepreneur. It has nothing to do with the potential parolee’s ethnicity, behavior, length of sentence or severity of crime. It has nothing to do with the prisoner at all and everything to do with the time of day ... Read More »
8 Ways to Make Sure Your Sales Emails Never Go to Spam
It's no secret that the marketing landscape has drastically transformed in recent years. Yet, one thing that has remained constant is the importance of email outreach in outbound marketing strategies. From Fortune 500 companies to scrappy startups, sending sales emails on a regular basis is a reality, so a large amount of time, strategy and effort goes into the process of sending ... Read More »
Employers Open To Ditching Degree Requirements When Hiring
Nine in 10 employers report being ready to accept candidates without four-year college degrees to fill positions in an increasingly tight labor market, reports Forbes. Companies are open to hiring candidates with a recognized certification (66 percent), a certificate (66 percent), an online degree from massive open online courses (47 percent) or a digital badge ... Read More »
6 Life Lessons the World's Most Successful Business People Have Learned That You Still Don't Get
What separates the most successful business people from the average white-collar professional? Aside from the fact that they can buy and sell your most prized possessions a thousand times over, it’s that they understand a few simple truths about life and business which they live by, reports Entrepreneur. It’s often the case that meaningful professional success comes from a shift ... Read More »
How to Avoid the 3 Most Common New-Manager Mistakes
Congratulations on your new role as a manager! Now what? You're suddenly responsible for the career trajectories of people who aren't yourself. And with that comes a new set of responsibilities, perspectives, and skills, reports Inc. It's no small task, and without being mindful of common mistakes, it's easy to mishandle. I take pride in being a good manager. I focus ... Read More »
How To Adopt An Innovative Work Culture That Will Bolster Business Success
Many companies talk about it. But seeing the profitability in adapting a new type of management style, operations, recruiting and training, and setting goals that coordinate with a positive work culture isn't always clear, reports Forbes. Unless you are Chris Barbin, the Global` Culture Officer of Appirio, a Wipro IT company that partners with companies like ... Read More »
Keep Your Talent: 5 Employee Retention Strategies for Long-Term Success
You spend countless hours grooming employees for their roles, investing time and effort into getting them up to speed and teaching them about the company. And for good reason: Your business's livelihood depends on their performance, reports Entrepreneur. But when an employee leaves, you’re back to square one: recruiting, training and grooming all over again. And the process isn’t easy ... Read More »
View All Small Business Tips Here
Auto Industry News
Alert: Phishing Scam Targets Agents
OMAHA, Neb. — Hackers are targeting F&I agencies, says Jeff Wanning, senior vice president of operations for the Central States Family of Companies, including four CSO-affiliated agencies in the past three weeks. “We’re a little bit alarmed,” Wanning said. “I realize they may or not ... Read More »
Equifax Names Reid as USIS Lead
ATLANTA — Jennifer “Jenn” Reid has joined Equifax as U.S. automotive marketing and strategy lead for U.S. Information Systems. In this role, Reid will be responsible for the development of Equifax’s automotive growth strategies, as well as overseeing specific marketing plans and initiatives. This includes ... Read More »
Cox Establishes Mobility Solutions Group
ATLANTA — Cox Automotive announced the formation of Mobility Solutions group, a new business division focused in part on mobility as a service for consumers and fleets. It will also house the newly acquired Clutch Technologies, a technology platform powering subscription access for the automotive ... Read More »
Manheim Used Vehicle Value Index Up 5.1% in July
ATLANTA — Used-vehicle sales continued their strong performance in the wholesale market in July, as an “abnormal bounce” that began in June continued through July with a 1.51% increase in overall values. The increase brought the Manheim Used Vehicle Value Index for the month to ... Read More »
Upstream Remarketing Keeping Used-Vehicle Values Strong
CARMEL, Ind. — The first half of 2018 has been a strong year for used vehicle values, and a growth in upstream remarketing is playing a helpful role. Various factors had market analysts predicting that used vehicle values would suffer in 2018 — one of ... Read More »
New Vehicle Hack Threat Exposed
MOUNTAIN VIEW, Calif. — Connected device management and security provider Zingbox announced new research that shows how a car’s driver can be subject to cybersecurity attacks through the car’s “infotainment” system, the embedded operating system powering the iPad-looking displays found on many recent new vehicles. ... Read More »
Dealertrack: Vehicle Title Doubles Chances of Sale
NORTH HILLS, N.Y. — Proprietary research, reports, and surveys show vehicles holding a title are nearly two times more likely to sell off auction lots on first pass than vehicles without titles. To help both dealers and lenders take advantage of this trend, Dealertrack’s breakthrough ... Read More »
Moxy Solutions Joins F&I Express Platform
GRAPEVINE, Texas — F&I Express announced that MOXY Solutions is now on its platform. The integration of the Southern California company's IMOXY platform adds aftermarket F&I product provider Red Shield to F&I Express’ network of more than 160 providers. MOXY provides a system designed ... Read More »
View All Auto Industry News Here
AE Featured Companies
Please click on a company logo to get more information.
American Auto Guardian, Inc. (AAGI) American Guardian Warranty Services, Inc. AUL
Chem Etch Manufacturing Classic Products CNA National
Dealers Assurance Company (DAC) EasyCare EcoProProducts
Endurance Dealer Services Entire Car Protection (ECP) F&I Administration Solutions
GWC Warranty Innovative Aftermarket Systems (IAS) Line 5
MaximTrak Technologies National Auto Care National Automotive Experts / NWAN
Old Republic Insured Automotive Services, Inc. (ORIAS) Over the Edge Portfolio
Protective Asset Protection Reahard & Associates RoadVantage
Simoniz USA SouthwestRe StoneEagle
Universal Lenders ValueShield Vanguard Dealer Services
Warranty Solutions Wise F&I  
 
 
 
 
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