Eyo Toe | February 25, 2021
If KPI tracking is a new concept for you, LHPH Capital is here to support you! Listen to some of our best practices for tracking key performance indicators whether you are a new or existing dealer. Have additional questions? Stay tuned for the full webinar from our LHPH Virtual Summit which will go into detail on KPIs for the LHPH industry!
Eyo Toe | February 23, 2021
This month we have some great discussions on KPIs. Our 2020 LHPH Virtual Summit had some well educated panelists who have experience in trending key performance indicators with and without software programs.
Fill out the form below to download the FREE full length webinar and learn from from LHPH professionals!
Eyo Toe | February 22, 2021
LHPH is starting a new monthly podcast series called Lease-Here, Learn-Here where we will have guests talking about all things Lease-Here, Pay-Here. This month Kevin Londerholm, AVP of Operations and technology, and Kelly McKinney, VP of Risk Mitigation, are here to give us insight into how LHPH dealers are successfully using KPIs to track performance and improve their dealership metrics.
If you have topics you would like LHPH professionals to discuss in future episodes, you can submit them to Eyo Toe at Etoe@LHPH.com.
Eyo Toe | February 17, 2021
If you are a looking into tracking your KPIs and do not want to invest in a software program yet, Kevin Franks talks about the different ways you can do that. Software programs may be able to give you in depth reports but if you are just starting out or are new to KPI tracking, there are ways to manually track your KPIs.
Eyo Toe | February 10, 2021
It can be a challenge for you to figure out which KPIs to track and how often they should be measured. Specifically, which should be recorded daily. Each dealership is unique in what data they should collect to best assess their strategy in reaching their goals. Kevin Franks gives many great examples of what daily KPIs he uses and why!
Eyo Toe | February 15, 2021
The infographic above is an example of some of the KPIs you should be tracking to successfully create a benchmark for your business. These are just some examples of indicators you could track but of course there are many more that may be unique to your dealership. When making a list of your daily and monthly KPIs, make sure they are easy to comprehend and easy to calculate. This is essential to making sure they are achievable and measurable. Some dealerships find it helpful to create daily reports and send them to their management team at the end of each day while trending more financially driven indicators such as cash flow or EBITDA monthly.
Want to learn more? Contact Trevor Watson at TWatson@lhph.com!
Eyo Toe | February 3, 2021
Kevin Franks, Chief Finance Officer of Benchmark Auto, speaks on the importance of software programs that can meet all your need as a dealer such as accounting, inventory, collections, etc. The reports created from software programs such as Deal Pack conveniently creates reports that can help determine whether you are hitting your KPIs. Check out how Kevin uses his software program below!
Eyo Toe | February 1, 2021
KPIs (Key Performance Indicators) are extremely essential in understanding whether your business is going to meet your goals. The beauty of KPIs is the ability to trend them from past days, months, and even years and compare where you are now to where you were before. However, sometimes certain aspects of your business change, such as your accounting method, where you will need to make note that the results are skewed based on KPIs being calculated in a different way. In addition, you must make sure you are collecting accurate data to create these trends, which is where daily and monthly KPI reports can be of convenience. Data collection is best done through either your DMS, if it has the capability, or simply using a spreadsheet. If you are not familiar with using excel or google sheets, there are many tutorials online that will help you organize your data to recognize and track your KPIs.
If you have any question, feel free to contract Trevor Watson at TWatson@lhph.com!