Do You Want to Save an Industry?
Problems: It’s a nearly a decade past the financial debacle era and the Power Sports industry is facing another crisis. Baby boomers are growing out of the sports, the seemingly disengaged millennials just aren’t interested and the retail supply chain is evolving. While the industry has strategically created enticing new product lines, they have flopped. Dealers are operating more then ever on less and clearly the next move among mid to large entities is to once again cut Selling, General and Administrative Expenses (SG&A).
Answers: Where are the answers? ...
It’s in the human capital. Look no further then to “we the people”. There is indication that the industry is not appropriately identifying, recruiting and placing its star performers in successful team dynamics. This includes recruiting talent that’s not only in the industry, but also to those that might not have decades of industry experience. Need an example?
Meet Kevin Holt, the one time heavy commercial construction industry professional whom has turned around the Peninsula Moto Group from near distinction three years ago to year to date (YTD) vs. YTD growth at 1,000%. Oddly enough, Kevin’s career path has been unique. Growing up he openly admits, “to not doing well in school because he was bored and restless.” And further admitting that he is not driven by money and the traditional definitions of success.
So what drives the man in charge of a now successful multi-million dollar dealership? After completing a six-minute behavioral assessment from Predictive Index (PI), it’s abundantly clear that we have a rock star on our hands. He is not motivated by the money and or ego that needs to be recognized, it’s simply the drive to exert his influence on people and events to get results.
Kevin’s drive to get results is so high that PI recognizes it as off the charts! While we are all special people in our own ways, Kevin has the drive to get results through his dominance in the top ninety-nine plus percentile. Kevin is truly an anomaly.
So how does the industry successfully locate more Kevin’s? With out a psychometric solution from a company such as PI, it’s nearly impossible. Otherwise it’s like finding a needle in a haystack. As much as Kevin is driven to get results his extroversion is very low and he is not a person of ego. Quite simply Kevin is not built to pound his chest and tell the world how wonderful he is.
Are you getting it yet? We have an individual who has completely turned around a motorcycle dealership, is not originally from the industry, is from the school of hard-knocks and if given a traditional interview he may not talk about how great he is.
Kevin furthermore shares, “I don’t really know much about the industry and neither does the guy that’s been at it for thirty years.” Imagine how that comes across in an interview, but how spot on he is. Essentially he is stating that just because one has been at it for thirty years doesn’t mean they have the capacity to have all the answers. Openly he admits, “that people sometimes hate working with me and that I am not yet a good boss.” But he is however very driven to get results, and what may look and feel like a black sheep is actually savior.
As contradictory as it sounds, Kevin is quick to point out how important the people are. Kevin reflects on the team dynamics at Peninsula Moto Group:
“ When I first took over we were bleeding and quite frankly it was because we didn’t have the right people in right places. We are a passion driven industry and changing the culture has been the single most important thing we have done to get our results. This is a motorcycle store and if you are not of that breed, you don’t know what you don’t know.”
Kevin clearly understands just how important it is to have the right people in the right places. And it’s for these reasons he is moving forward with the PI psychometric solution. Kevin’s leadership is actively considering how people will impact the execution of his business strategies. Such as identifying the creative individuals that can strategically connect and sell product to millennials. Kevin does not just want good people in the right places; he wants great people in the right places. Kevin will need his people to be resourceful with the capacity to go beyond their defined roles.
Up to this point, Kevin has been an enormous help to the business. However, the business is now in a growth mode, most recently adding five thousand square feet to expand its service, parts and sales division. Kevin shares, “I need to recruit people that have intent and ambition, but that also have a skillset.” Kevin works through the process of hiring and firing revealing, “its hurtful to me to let someone go who needs to feed their families.”
Kevin points out, “Many people are too lazy to go through the change. I am moving forward with PI not because I need to know myself; I know that I am driven. It’s that we can’t make dysfunction continue and we are going to move faster then everyone else.” Kevin does not have the time to fire the next person that will not work out. And this is why leveraging the PI is so important, a solution that not only assists with job fit, but also with team dynamics, managerial impact and culture fit.
What’s the barometer for Kevin’s success? Well it appears to be infinite and it’s nowhere near in the present time. Kevin understands that the next steps will be difficult because its hard to delegate and that he will need to sacrifice his own thumb print so the business can grow. He discloses, “The talent in the industry is thin and that it is really tough to have a guy whom is talented.” This is when team dynamics become so critically important. Kevin will leverage PI, knowing how to communicate among additional co-workers that are highly motivated.