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Welcome to the May 14th, 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
Agent Reporting for a New Era
Dealers’ expectations of agents continue to grow and evolve, but reporting remains in its technological infancy. Learn how a system that collects and correlates data from each dealer client’s DMS with reports from third-party administrators could improve reporting and take F&I training to the next level.

By: Staff Writer

Agents provide a unique and invaluable service to automotive dealers as income development drivers, compliance consultants and training providers. In order to play this vital role, agents need information from disparate sources that paint a picture of sales and profitability at each dealership they service. ... Read More »
Become a Better F&I Coach
Maximizing F&I production requires agents to recognize talent and build a program that values and rewards it.

By: Tony Troussov

In the world of an agent, things change rather quickly. Aside from technological advances and demands from clients, there is also the fact that, as Mark Cuban once said, “Someone is trying to get your business 24 hours a day.” In today’s competitive environment, income ... Read More »
What Is Your Dealers’ VFI?
In the Digital Age, first impressions can make or break a sale, and fewer customers means fewer opportunities for F&I. Use this primer to ensure your dealer clients are putting their best face forward.

By: Ed Paez

To be a successful agent, it is important that everyone at your dealerships understands the importance of making a good first impression. The porters line up all the vehicles in a straight row and make sure there is no garbage or debris on the lot. ... Read More »
Neighbor Spoofing
Sophisticated identity-theft campaigns are plaguing dealerships. Agents can help dealer clients remain compliant with federal standards designed to protect customers’ nonpublic personal information.

By: Robert Wilson

How many times have you received a call from the same area code as yours with the same first three-digit prefix as yours? Too many, right? This type of caller ID spoofing is known as “neighbor spoofing” and aims to make you think you are ... Read More »
Summit Updates
Agent Summit Registration Closes Soon
LAS VEGAS — Organizers of the upcoming Agent Summit have announced online registration will soon close for the 2018 event, which will be held May 20–23, 2018, at the Venetian & Palazzo Resort Hotel Casinos in Las Vegas. “We are on track for our biggest ... Read More »
Premium Giveaways Await Agent Summit Attendees
LAS VEGAS — Agent attendees of the eighth annual Agent Summit will have the chance to take home one of a number of prizes totaling $15,000 in value, organizers announced. The four-day event, which includes a comprehensive educational slate, compliance certification, the Reinsurance Symposium ... Read More »
Agent Summit: Register Now to Avoid the Crowds
LAS VEGAS — Organizers of the eighth annual Agent Summit are encouraging last-minute registrants to register online now to avoid the crowd at check-in for the four-day event, which begins Sunday, May 20, 2018, at the Venetian & Palazzo Resort Hotel Casinos in Las Vegas. ... Read More »
F&I Success
The One Thing Customers Want Most!
Agents must do their part to help dealers deliver the type of unexpectedly enjoyable customer experience that closes deals and sells F&I products.

By: Rick McCormick

The one thing that will create the most profitable opportunities to help customers buy more of our products is exactly the one thing they want the most: a great experience! When customers choose us to spend their money with, they expect a good experience. And ... Read More »
Hot Tips
I’ll Take My Chances
John Tabar of UDS with this week's tip!

We have all heard the "I'll take my chances" objection or some variation. Usually this is because the customer doesn't see the value. When this objection is used about a Vehicle Service Contract, here is response to put in your tool box. It's a variation of the 99.9% Component Close, but emphasizes cost of repairs. ...

Watch the Tip Here »
AE HOT TIPS
 
Small Business Tips
How To Question (And Continually Improve) Your Company Standards
Successful companies are well-oiled machines. They are built to complete complicated tasks at scale.  Doing this requires repeatable processes and standards of operation. They ensure the experiences that you deliver achieve a certain level of quality every time, reports Forbes. However, possessing standards is not enough. Great companies not only have standards, but are always ... Read More »
10 Marketing Strategies to Fuel Your Business Growth
Growing a business isn’t easy. First, you need a viable idea. From there, you need to discover a profitable niche, define a target demographic and have something of value to sell them. Whether you’re peddling products, services or information, getting the word out has become increasingly burdensome. And without the right marketing strategies to fuel ... Read More »
How Building Your Team Is Like Packing for a Business Trip
I always like packing for a business trip. It’s the only part of the journey you absolutely control, and it informs almost everything about what you’re going to do along the way. Even the simple act of leaving your swim trunks behind on a weekend-adjacent business jaunt carries a hugely declarative implication: No play time ... Read More »
How To Empower Your Employees To Thrive
Company culture ranks high on the list of corporate buzzwords in today’s transient business ecosystem. These days, it’s less about short-term investment in employee happiness and more about long-term investment in company growth, reports Forbes. If I were to spend a day in your office and ask each employee to define your company’s mission, how ... Read More »
Use These Strategies to Maximize Productivity — Without Inventing an Extra Weekday
Let’s be honest — there aren’t enough hours in the week for most entrepreneurs. Days run together and soon you are begging for an eighth day of the week to catch up. We call this imaginary day “Smursday.” When you’re working this hard, it’s difficult to distinguish when your week starts and ends. It can ... Read More »
Why This Business Owner Only Hires People Smarter Than Him
When Travis Greenwood was nineteen, he learned a meaningful leadership lesson he still applies today as a small business owner. Travis was a sophomore in college, working as an intern at an association management firm. Each day, after work, he’d catch a bus to get back to his college campus, reports Forbes. On one particular ... Read More »
13 Mental Habits Leaders With Emotional Intelligence Will Avoid Like the Plague
Every leader, boss, or manager with emotional intelligence whom I have ever met didn’t arrive there overnight. Most worked hard for years to develop new habits, and especially new ways of thinking (i.e., self-awareness) that will inform great decisions, reports Inc. If you’re serious about your own leadership growth, a good first lesson should always ... Read More »
3 Hard Moves Entrepreneurs Must Make
There’s a lot of pressure for small-business owners to be masters of every aspect of their business. This is especially true when you’re first starting out and are often a one-person shop. A recent survey by The UPS Store found that one of the biggest barriers to starting a small business in 2018 was fear of failure, behind concerns ... Read More »
View All Small Business Tips Here
Auto Industry News
Safe-Guard Canada Announces New Montreal Training Facility
ATLANTA — Safe-Guard Canada today announced the opening of a new training facility located just outside of Montreal to better service Quebec clients and their dealers. The new location will allow Safe-Guard to broaden retail training and development support for dealers within Safe-Guard’s client roster, ... Read More »
House Approves Resolution to Repeal CFPB’s Dealer Participation Guidance
WASHINGTON, D.C. — The U.S House approved on Tuesday its version of the resolution of disapproval of the Consumer Financial Protection Bureau’s dealer participation guidance. The resolution now heads to President Trump’s desk, where it is expected to be signed. The 234-175 vote was cast ... Read More »
Howse Named Head of Resource Agent Group
CHICAGO — Resource Automotive, a division of The Warranty Group and a nationally recognized provider of F&I solutions, has named Mike Howse as senior vice president of sales and marketing for First Extended Resource Automotive. In this role, Howse will manage Resource Automotive’s agent network and be ... Read More »
Nano Liquid Glass Protector, Inc. Updates Corporate Name to Nano Liquid Solutions
Nano Liquid Glass Protector, Inc. has changed their corporate name to Nano Liquid Solutions effective May 1st, 2018. Nano Liquid Solutions now has 32 various products including new solutions: Odor Control Fabric Protector, Wheel & Headlight Sealant, Safety Shield Windshield Hydrophobic Protector, Ceramic Paint Sealant ... Read More »
USEA to Pay Bonuses to F&I Managers
ORLANDO, Fla. — US Equity Advantage (USEA) has launched a new performance-based rewards program that offers finance managers at partner dealerships the opportunity to make bonus income in addition to their standard commissions. The program includes a “QuickStart” incentive program for new finance managers to ... Read More »
EasyCare Adds Connected Car Expert
NORCROSS, Ga. — Connected car expert Bob Dziadosz has joined EasyCare as a dealer performance driver. The Boston-area native and Babson College graduate is based in New England, where he is already working with dealers to introduce SAVY, EasyCare’s dealer-branded mobile app suite designed to ... Read More »
Dent Wizard Announces New COO, Mid-South RVP
ST. LOUIS — F&I product provider Dent Wizard International has promoted Addison Thomas to COO and Doug Grill to Thomas’ previous position as regional vice president of Dent Wizard’s Mid-South region. These promotions come after Mike Black was promoted to CEO April 1. Thomas will ... Read More »
Voting Opens for 2018 Dealers’ Choice Awards
TORRANCE, Calif. — The publishers of Auto Dealer Today announced that voting for the 2018 Dealers’ Choice Awards will begin tomorrow and continue through May 31, 2018. The annual program was designed to recognize the industry’s best vendors, suppliers, and finance sources based on an online survey ... 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
Best Training Day Ever 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 Mobile Dealer Data (MDD)
National Auto Care National Automotive Experts / NWAN Old Republic Insured Automotive Services, Inc. (ORIAS)
Over the Edge Portfolio Protective Asset Protection
Reahard & Associates Simoniz USA SouthwestRe
StoneEagle Universal Lenders ValueShield
Vanguard Dealer Services Warranty Solutions Wise F&I
 
 
 
 
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