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Welcome to the June 8th, 2017 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
Planning Your Agency’s Future in Today’s Market
Every agent principal wants their agency — and their legacy — to survive their retirement. But without a succession plan, an exit strategy or the right strategic partner, the forces of consolidation and advancing technology are working against you.

By: Doug Frey

The needs of dealers are expanding beyond what the typical smaller to mid-size agency can provide when it comes to technology, training and human capital. Agents who generate 500 to 2,000 benefit contracts a month are typically reliant on just a couple of dealer groups ... Read More »
How to Prove Every Customer’s Identity
Compliance-minded agents can build a process dealers can use to meet Red Flags and REAL ID standards.

By: Gil Van Over

Occasionally, even the seemingly simplest tasks become fraught with minutiae that encourage some to make it more difficult or cumbersome than necessary. The latest example of this idiom surfaced in a dealer’s quest to sell and finance a vehicle to an individual who could not ... Read More »
Can I Get Your Number?
Agents must counsel dealers against contacting customers from whom they have not obtained the appropriate consent.

By: Robert Wilson

Back in the old days, before the advent of modern communication such as Facetime, WhatsApp, Skype and many other platforms, the only real social media platform was the telephone. Asking someone for their phone number was a right of passage which either ended up in ... Read More »
Summit Updates
Crisorio, Kamal to Chair 2017 Compliance Summit
DALLAS — Organizers of the annual Compliance Summit announced that Brian Crisorio and Tariq Kamal will serve as co-chairs for this year’s event, which will be held as part of Industry Summit Sept. 11–14, 2017, at the Gaylord Texan Resort & Convention Center in Dallas. ... Read More »
F&I Success
Hooked on a Feeling
Listening to customers with intent helps F&I managers forge emotional connections and sell more products.

By: Rick McCormick

I’m revealing my age when I recount “Hooked on a Feeling,” the 1969 hit by BJ Thomas. This song intimates the importance of an emotional connection. Emotionally connected customers buy more of your products and services, exhibit less price sensitivity, open up and talk more, ... Read More »
Change Is a-Coming!
In the automotive industry, refusing to embrace change — or at least address it — can put you at a severe disadvantage.

By: Rick McCormick

The year 1886 is regarded as the birth year of the modern car. In that year, German inventor Karl Benz built the Benz Patent-Motorwagen. Cars did not become widely available until the early 20th century. One of the first cars accessible to the masses was ... Read More »
Hot Tips
Selling Leases
Gerry Gould of UDS with this week's tip!

Today I'd like to talk about selling to lease customers because it's getting more popular as time goes on. Leasing is the way to go, isn't that what everybody says ...

Watch the Tip Here »
AE HOT TIPS
The Bridge
Gerry Gould of UDS with this week's tip!

Today I'd like to talk about the bridge. What I'm talking about is the bridge between the sale of the car and F&I, the sale of F&I products. You have to separate those two ...

Watch the Tip Here »
AE HOT TIPS
Small Business Tips
Cameron Herold: How To Make Your Meetings Insanely Productive
If you’re a typical manager, your day is full of meetings, and most of them probably suck. They suck because they go too long, because other meetings get pushed back or because you don’t understand why you’re even present, reports Forbes. Cameron Herold, the founder of COO Alliance, who is known as “the Business Growth Guru,” ... Read More »
5 Habits That Will Make You a More Creative CEO
In 2010, IBM surveyed more than 1,500 chief executive officers from 60 countries and found the No. 1 factor that CEOs use to predict future success is creativity. Being creative allows CEOs to adapt to market changes, adopt innovative new practices and disrupt their industries, reports Entrepreneur. Despite its importance, most CEOs have little time to foster their creative skills. ... Read More »
Want to be a Great Leader for the Future? Cultivate This Skill Now
We're all aware of the current divide in the United States. It seems like there couldn't be a more dramatic difference in how people think or what they value, reports Inc. This growing divide, in combination with an increased diversity of thinking, underscores the importance of developing a new skill set: the ability to view differences as opportunities ... Read More »
Discover Your Biggest Business Advantage — Empathy
Bestselling author and business icon Stephen Covey once said: “When you show deep empathy toward others…That's when you can get more creative in solving problems.” These words ring true for me not just because they were spoken by one of the most influential figures in American business, but because now, more than ever, the need for empathy spans ... Read More »
Getting Honest Feedback From Your Team
It's easy to just say that I get feedback by asking my team to tell me what they are thinking. You would think they would just say if I upset them. But, it doesn't work that way, reports Entrepreneur. Don't let anyone convince you otherwise — achieving an open and (candidly) honest environment takes time. That's because it ... Read More »
5 Easy Actions That Will Improve Company Culture
In recent years, company culture has become somewhat of a buzz phrase. Thanks to unconventional and progressive leaders like Amazon, Google, and Facebook, people have started to think about company culture differently, reports Inc. This becomes especially true as millennials saturate the workforce, because they bring with them a new set of priorities in terms ... Read More »
Four Listening Moves To Get The Best Ideas
The person with the best idea wins. Well, maybe not always, but it sure doesn’t hurt, reports Forbes.  We all struggle with coming up with novel approaches to projects, people and problems. Creativity and insight can be frustratingly fleeting. What fires us up one day can dull us into inertia the next. And yet, the ... Read More »
Leaders: There Is Such a Thing as Too Much Charisma
What are the qualities of a successful leader? They have a strong vision, can clearly communicate their goals and can command a room. But a new study from Ghent University published in the Journal of Personality and Social Psychology found that charisma only takes you so far, reports Entrepreneur. The researchers looked at the charisma scores — taken from ... Read More »
Lead with Trust or Control…You Decide
Once upon a time there was a restaurant chain with thousands of locations. A handful of those locations were outperforming all the others by nearly 60%. And the senior leaders were stumped. They began to ask honest questions about their own beliefs, and the practices they used to run the brand. It was real and raw ... Read More »
14 Ways To Better Attract The Top Talent You Need
Hiring the best people isn't easy: There are a lot of resumes out there attached to a wide variety of skill sets and personalities. Your company, though, is looking for top-level talent: You need people with strong experience, training and drive, and you're not afraid to try new things to bring them into the fold, ... Read More »
View All Small Business Tips Here
Auto Industry News
American Financial Receives Multiple Honors in the 2017 Dealers’ Choice Awards
THE WOODLANDS, Texas - American Financial & Automotive Services, Inc. was voted among the leading industry providers in the 2017 Dealers’ Choice Awards. This F&I dealership development company received honors under five different categories by their dealer partners, as well as Auto Dealer Today and ... Read More »
For Third Year, Dealers Vote MaximTrak Dealers’ Choice Award Winner
WAYNE, Penn. – MaximTrak Technologies, international F&I platform provider and technology partner for top names in the industry, has once again been named a Dealers’ Choice Award winner by the readers of Auto Dealer Today magazine, a sister publication of F&I and Showroom. To vote, ... Read More »
StoneEagle Wins Platinum Award for F&I Technology in the 2017 Dealers’ Choice Awards
DALLAS – StoneEagle is honored to win the Platinum Award for F&I Technology in the 2017 Dealers’ Choice Awards from Auto Dealer Today magazine. This is the second year in a row for StoneEagle to win an award in the F&I Technology category. The Dealers’ Choice ... Read More »
UDS Earns Top Honors in Dealers’ Choice Awards
Clearwater, FL – United Development Systems, Inc. (UDS) has been named the Diamond Award Winner for F&I Training and Platinum Award Winner for Compliance Training in the 2017 Dealers’ Choice Awards by Auto Dealer Today. For the thirteenth consecutive year UDS has earned top honors in ... Read More »
Protective Asset Protection Receives 2017 Dealers’ Choice Award
CHESTERFIELD, Mo. – Protective Asset Protection has been voted the 2017 Dealers’ Choice Platinum Vehicle Service Contract provider by automotive dealership personnel as part of the annual awards by industry trade publication, Auto Dealer Today. The Dealers’ Choice Awards recognize the automotive industry’s leading product and ... Read More »
Premier Chevrolet Buick GMC Named First Motor Trend Certified Dealer In West Virginia
NORCROSS, Georgia —Premier Chevrolet Buick GMC has been selected to be the first dealership in West Virginia able to certify its pre-owned vehicles with the exclusive MOTOR TREND Certified designation. MOTOR TREND Certified vehicles meet the highest standards in the pre-owned market, with every vehicle ... Read More »
CNA National Takes Two Top Spots in 2017 Dealers’ Choice Awards
Scottsdale, Ariz.—For the 13th consecutive year, CNA National (CNAN) is being recognized as the best in the industry by vehicle dealers nationwide. CNAN earned first-place Diamond Awards for both “Best Service Contract Provider” and “Best Reinsurance Provider” in the 2017 Dealers’ Choice Awards. Dealers have ... Read More »
RoadVantage Releases New Series of Free Product Videos to Dealerships Nationwide
AUSTIN – Six months after releasing a free educational F&I video to all U.S. dealerships, RoadVantage today released a new series of free point-of-sale product videos to help dealers drive consumer interest in F&I protection when purchasing a vehicle. “Research shows that four times as many ... Read More »
NAE/NWAN Chief Executive Officer Kelly Price Named EY Entrepreneur Of The Year® 2017 Award Finalist In Northeast Ohio
CLEVELAND – National Automotive Experts and NWAN (NAE/NWAN) are honored to announce that Kelly Price is a finalist for the EY Entrepreneur Of The Year® 2017 Award in the Northeast Ohio region. The awards program, which is celebrating its 31st year, recognizes entrepreneurs who are excelling ... Read More »
GWC Warranty Introduces Revamped Online Dealer Portal
WILKES-BARRE, PA. – GWC Warranty, the best-in-class provider of used vehicle service contracts and related finance and insurance products sold through automotive dealers, has released Dealer Portal 2.0 – the latest enhancement to GWC’s online e-contracting platform. Dealer Portal 2.0 introduces to dealers a series ... Read More »
Wise F&I Now Offers a Vehicle Service Contract for Pre-Owned Vehicles
ST. LOUIS – Wise F&I is expanding their vehicle service contract (VSC) programs with the introduction of WiseMVP, a pre-owned motor vehicle service contract that rounds out Wise F&I’s VSC product suite. WiseMVP provides coverage for vehicles that are up to 20 years old and that ... Read More »
PayLink Direct and Omnisure Group Announce Merger
CHICAGO – PayLink Direct and Omnisure Group, two of the nation’s premier specialty finance and customized payment plan providers, announced a merger to create the largest service contract payment plan provider in the United States. Rebecca Howard, Co-Founder and Chief Executive Officer of PayLink Direct ... 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. Arch Insurance
AUL Best Training Day Ever Classic Products
CNA National CSO Dealers Assurance Company (DAC)
EasyCare EcoProProducts Endurance Dealer Services
Entire Car Protection (ECP) F&I Administration Solutions F&I Express
GWC Warranty Impact Group 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
Red Auto Dealer Services RoadVantage Safe-Guard Products International
Simoniz USA SouthwestRe StoneEagle
The Warranty Group – Resource Agent Group/ First Extended United Car Care (UCC) Universal Lenders
Vanguard Dealer Services Warranty Solutions Wise F&I
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