Ask Joe: Do I spend too much time working deals?
You’ll spend about 2 hours making most sales and the outcome depends on how you spend your time.
a. Spend the first 20 minutes focused on the money and you’ll spend the better part of 2 hours negotiating price. Result: 6% Delivery Ratio
b. Spend 60 minutes mostly building value, then another hour working the deal. Result: 31% Delivery Ratio
c. Or spend 100+ minutes selling hot button value, then just 20-30 min. to wrap it up. Result: 57% Delivery Ratio
Spending more time selling, equals less time working deals, with higher grosses, and more deliveries.
Q: How long should it take to work deals? Your goal is 20 minutes, so build $50,000 in value on every $30,000 vehicle so ‘budget’ not price is the issue and it’ll go down quick.