EP 8:5 Chief Operations Officer of a Billion Dollar + Dealer Group Shares Secrets for Management & Growth

Welcome to the Millionaire Car Salesman Podcast, where we bring you inspirational stories, tips, and insights from some of the most successful automotive professionals and entrepreneurs! In this episode, your host Sean V. Bradley, is joined by a true automotive leader, Nicholaos Gouvouniotis, the man behind the curtain of a billion-dollar dealer group. Nicholaos shares his incredible journey of turning around underperforming dealerships and achieving record-breaking sales numbers! He emphasizes the significance of fostering an exciting and motivating environment for the sales team and the importance of aligning everyone with the same goals and processes.

During the conversation, Sean and Nicholaos delve into the profound changes they’ve witnessed in the automotive industry over the past 25 years and the critical role of team building! They highlight on the need for process integrity and underscore the value of comprehensive training in all dealership departments. Nick offers valuable advice to sales managers, encouraging them to maintain open communication with their superiors and explore rehashing declined deals and missed opportunities as a means to sell more cars.

Throughout this episode, listen as they passionately emphasize the significance of setting clear objectives and cultivating a positive and productive work environment. Tune in to gain profound insights from a seasoned industry leader who has consistently driven success through his unwavering dedication to excellence!

Key Takeaways

Creating an exciting and motivating environment for the sales team is crucial for success

Process integrity is essential for achieving consistent results

Training should encompass all aspects of the sales process and include product knowledge, communication skills, time management, and marketing strategies

Reverse engineering desired results and aligning everyone with the same goals is key to achieving success

Owners and managers need to lead by example and be actively involved in the training and development of their teams

"Perception is everything. Change the way people perceive things and you can change their actions and results."

  - Sean V. Bradley

"Not all training is the ‘right’ training. Dealerships need to train on all aspects of the sales process and provide ongoing support and development."

  - Sean V. Bradley

About Nicholaos Gouvouniotis

Nicholaos Gouvouniotis, is a distinguished figure in the automotive industry, boasting an extensive career that has seen them excel in pivotal leadership roles. He has held high management roles within the dealership, such as the Chief Operations Officer at Antwerpen Automotive Group, they oversee operations across an impressive 12 franchise brands, including major names like Toyota, Hyundai, and Chevrolet. Additionally, his experience as the Regional Director of Operations at Camping World involved spearheading the development of new locations, staff recruitment, and training. 

Nicholas’s multi-faceted expertise is exemplified by his time spent as the Multi-Store General Manager at Gateway Kia Auto Group, where they masterminded substantial sales growth and positioned the group as one of the nation's top dealerships, and as Vice President of Operations at Action Auto Group, Nicholas’s visionary leadership revitalized the organization and contributed to its success. Throughout their career, their dedication to fostering excellence and driving results has been a consistent hallmark! 

The Evolution of the Automotive Industry: Insights from a Billion Dollar Dealer Group COO

The automotive industry has undergone significant changes over the past quarter century. From the reputation of car dealerships to the advancements in technology and the increase in gross margins, the industry has evolved in many ways. To gain insights into these changes and understand how dealerships can succeed in the current landscape, I had the opportunity to interview Nicholaos Gouvouniotis, the Chief Operating Officer of a billion-dollar dealer group with extensive experience in operations and variable ops.

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The Changing Reputation of Car Dealerships

One of the most notable changes in the automotive industry is the improvement in the reputation of car dealerships. In the past, there was a negative stigma associated with car salespeople, but that perception has significantly improved over the years. Gouvouniotis shared his experience of witnessing this change, stating, "I'm offended now when people have a negative connotation or a negative stigma of the automotive industry because there are more priests and police that have drama chaos and you don't see Geraldo Rivera jumping out of the bushes doing an expose on car dealers nowadays."

This shift in perception is a result of the industry's efforts to improve transparency and customer service. Dealerships have become more educated and aware of the importance of providing a positive buying experience. Gouvouniotis emphasized the need for transparency and building trust with customers, stating, "The consumer was a different animal coming in the door, and trust and building that rapport was a completely different world."

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The Importance of Team and Culture

Gouvouniotis highlighted the significance of building a strong team and creating an exciting and motivating work environment. He shared his experience of turning around a dealership with 130 car salespeople and transforming it into the number one dealership in the nation, averaging 700-800 new car sales per month. He attributed this success to the team's unity and shared mission.

To create an exciting work environment, Gouvouniotis emphasized the importance of celebrating individual and team achievements. He mentioned the practice of recognizing top performers and sharing their success stories with the entire team. By doing so, he created a sense of camaraderie and motivation among the salespeople.

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The Role of Process and Training

Gouvouniotis stressed the importance of having a well-defined process and providing comprehensive training to dealership staff. He mentioned that many dealerships lack process integrity, which leads to high attrition rates and inconsistent results. He advised dealerships to focus on training their staff on the dealership's specific process and holding them accountable to it.

He also emphasized the need for ongoing training and development, not just for salespeople but also for managers and executives. Gouvouniotis mentioned the importance of training on various aspects, including customer service, time management, marketing, and communication skills. He highlighted the need for dealerships to invest in comprehensive training programs that cover all aspects of the business.

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Leveraging Opportunities for Immediate Results

​When it comes to generating immediate results, Gouvouniotis suggested focusing on three key areas: the sales floor, the business development center (BDC), and the finance department. He advised salespeople to revisit declined deals and explore opportunities for co-signers or alternative financing options. He also recommended reviewing old leads and missed opportunities in the BDC to identify potential sales. Additionally, he suggested leveraging the finance department to identify potential deals that were declined due to financing issues.

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Conclusion and Future Outlook

The automotive industry has evolved significantly over the past quarter century, with improvements in reputation, technology, and gross margins. To succeed in this changing landscape, dealerships must focus on building strong teams, creating an exciting work environment, and implementing well-defined processes. Ongoing training and development are crucial for all dealership staff, from salespeople to managers and executives.

Looking ahead, Gouvouniotis emphasized the importance of staying adaptable and embracing new technologies and strategies. He encouraged dealerships to continue investing in training and development to keep up with the evolving industry. By doing so, dealerships can position themselves for long-term success and maintain a positive reputation in the eyes of customers.

In conclusion, the automotive industry has come a long way, and dealerships have the opportunity to thrive by prioritizing team development, process integrity, and ongoing training. By embracing these principles, dealerships can navigate the ever-changing landscape and achieve sustainable success in the automotive industry.

Resources:

Dealer Synergy & Bradley On Demand: The automotive industry’s #1 training, tracking, testing, and certification platform and consulting & accountability firm.

The Millionaire Car Salesman Podcast: is the #1 resource for automotive sales professionals, managers, and owners.  Also, join The Millionaire Car Salesman Facebook Group today!

The Against All Odds Radio Show: Hosting guests that have started from the bottom and rose to the top.  Also, join The Against All Odds Radio Show Guests & Listeners Facebook Group for the podcasted episodes.

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The Millionaire Car Salesman Podcast is Proudly Sponsored By: 

Dealer Synergy: The #1 Automotive Sales Training, Consulting, and Accountability Firm in the Automotive Industry! We have been building Internet Departments and BDCs for over two decades! It is this experience that has allowed us to develop the absolute best automotive Internet Sales, BDC, and CRM solutions for car dealerships. We have created the most effective training programs and processes. Phone scripts and rebuttals are our specialties, while CRM action plans, strategies, and templates are our expertise! Dealer Synergy will take both your tools and your people to the next level.

Bradley On Demand: Automotive Sales Industry’s #1 Interactive Training, Tracking, Testing and Certification Platform. With over 7,500 training modules, our platform has everything you and your dealership need to sell more cars, more often and more profitably!

Money Mind Mapp (M3): Visit MoneyMindMapp.com for help in revolutionizing your business to help you sell more cars by tracking, projecting, and forecasting your personal sales goals!