The plan originally was to introduce this when my new book comes out in the coming weeks, but I thought I’d give you a brief on it early.
So what is synergized compounding?
Synergized Compounding is a collection of the long-term benefits you receive from contributing to your team’s success.
Here is a short summary of its 5 benefits;
1. Attracts More Clients for You and the Dealership
When you work well together in every department and avoid the impenetrable walls that seem to be put up at some dealers, you create a trusting culture that becomes noticeable to the public. Potential clients are more likely to buy and stay loyal to a dealership that provides a culture that’s genuinely built on trust, honesty, integrity, teamwork, and healthy relationships in the dealership. This is why it’s important to start your day at the dealership by staying connected to your teammates.
2. Improves Morale
It’s a gratifying feeling knowing your positive attitude has a direct impact on the morale of all those around you. There are multiple effective strategies that are mentioned throughout this book that will help you sustain a positive energy, but I want to talk about the benefits that giving has on you and your support team.
The benefits of giving are well known and documented. Benefits include happiness, improved health, team camaraderie, gratitude, increased income, and reciprocation. Plus, it’s contagious. When you give without the expectation of receiving, it’s an empowering feeling.
3. Creates Synergy
When I think of synergy, I think of the 1980 United States Men’s Olympic Hockey Team. You may know them as “The Miracle on Ice.” Perhaps it’s because the US Networks are playing it on repeat since the US Team defeated our Canadian Women’s team during the 2018 Winter Olympics. Much like the Russians in the 1960’s and 70’s, our Canadian Woman’s Hockey Team has dominated over the years so naturally this was a historical moment in the US Team’s History.
But what was it about the 1980 Miracle on Ice team that made them special? If you remember the story, the average age was 21, and the team was comprised of rival schools. How is it that rivals can make up one of the greatest Olympic Teams in history? Because Herb Brooks wasn’t looking for the best players, he was looking for the right players. Players who had heart, work ethic, proper attitude, and a willingness to play for something greater than themselves. When a group of people come together for a greater cause than themselves, that’s synergy.
4. Generates a Higher Repeat/Referral Rate
There is no argument that the most valuable form of marketing is word of mouth. When you start to view your clients as walking billboards, your perception on how they are treated within every department completely changes. Building your own repeat and referral database requires time, but you can start working on it immediately. Acknowledging and helping clients in the waiting room for service and offering support and help to your teammates requires no experience, only effort. You do need patience to go along with this effort. But, over time, it will compound into business that will keep your sales funnel full at all-times. Talk to any successful Sales Consultant, past or present, and they will tell you that life becomes far less stressful when you’re dealing with repeat and referral clients.
5. It’s a Win-Win-Win
Synergized Compounding is a win for you, win for your teammates, and a win for the client. It’s a win for you because you are receiving leads from your team on a regular basis. Their friends and family are likely to buy from the dealership they work at, so they’ll be referring them to someone. It’s your job as an entrepreneur to give yourself the best opportunity to attract those leads to your business. How many teammates do you have outside of the Sales Department? How close would you rate your relationship with them on a scale of 1-10?