🤔On The Current Situation of Currency. A bit of a shift in what I normally share with you, but businesses is business and today let's discuss a new challenge: Rising Credit Card Fees and Threats to Businesses + Increased Costs, Decreasing Value of Rewards Programs for Customers.
From everything I read and watch it appears storm clouds are gathering on the horizon.
Businesses are absorbing higher credit card fees-pressuring their bottom line performance.
Consumers are seeing a sharp return to higher interest fees coupled with constant security breaches.
Is there a new 'currency' or payment method to consider?
🤔Could it be the canary in the coal mine for (((gasp)))
💵Cash and Checks? I even shake my head at the prospect, but are we approaching a place where the severity of the threats are exceeding this supposed convenience.
These trusted forms of payment my re-enter in prominence. Even a small shift would create a seismic change.
I have seen a time where we had no choice and embraced more convenient options for both vendors and clients rapidly as they entered the market. But at this point, it appears the cost for these might have reached their breaking point.
👉 Businesses have always bemoaned the cc handling fees, often failing to factor in the cost of handling checks and cash.
However, today, this cost is far surpassed by the enormous risks, costs of attempting to avoid increased cyber-security attacks, and the chaos + reputation damage which emerges after a successful invasion.
👉Consumers
For many, interest charges haven't been an issue as they pay off balances monthly. The lure of rewards and points towards travel and cash-back offers were appealing. Again, those offers are beginning to recede, losing value as redemption rates to use those rewards skyrocket, further diminishing their value.
On to annual credit card fees: Have you looked lately?! Keeping my personal and businesses separate, this year I have seen these charges continue to escalate, slowly then quickly many squeezing in their attempts to broach the 5, 6, 700 hundred mark. Multiply this times the number of cards in your wallet, how convenient is it to have these various cards at your disposal.
Branded rewards cards, like my American Airlines and Marriott continue to devalue their benefits. I have shifted towards more predictable and flexible options such as my Chase Preferred Rewards.
Adding it up, are the security breaches, increased charges, diminished returns, higher handling fees, sharply increased interest rates and the escalation of annual fees equating to an opportunity for something old, something new to take over?
Let's track the gains we see towards cash, checks, new technology.
Consumer preferences are always the target and the behaviors to track.
We have people here across the full spectrum of industries.
What are you seeing and hearing? I would love to hear your insights and predictions.
hashtag#Auto and hashtag#Finance friends, please enter the room.
3010
Now here is a nice turn-around to a new LinkedIn connection that seemed to get off on the wrong foot. Rather than dismiss and end the connection immediately, at times I will intentionally test to see if there is a real person behind the scene or if it's a generated profile.
I'm glad I took the time, as once again, it is a real person, and local to me here in Charlotte.
🤔How do your communications start...and end...with your clients and prospects?
🤔Who even knows or watches?
🤔Are you tracking engagement and abandonment?
🤔And do you know who designed your automated system and when?
Not only is money lost, so are time, resources...and the 'hope' you placed in these efforts. Not to mention your reputation.
There are great people and companies who are being represented poorly from the very services who assured them they would improve their presence.
We have helped a handful of companies clean up their communications internally and externally, including these systems.
Read the real dm below from this week. I have blacked out their name. They can disclose themselves if they like.
What will you take away from my experience I shared in this post today?
#BetterTogether #Automotive #CustomerEngagement #Leadership #Communication #Connection #Sales #Reputation #Advisors #StrategicSolutions
3009
PSA: I am not attending Digital Dealer in Las Vegas. Yes, I will miss the opportunity to catch up with several dear friends and colleagues.
When you want to discuss how we prioritize conferences and events for myself and our clients, dm below.
Conferences and events are Incredibly large expenses for companies often without a clear path to ROI.
Enjoy your time at the event friends and make the most of it while you're there.
Do be sure to meet up these friends of mine:
Microsoft 's Lizz Callaway you can meet her at her presentation tomorrow morning.
Also, make it a point to chat with Jennifer (Blount) Sanford who recently launched her own marketing firm.
Rae Selvey one of the industry's quietly powerful leaders always behind huge successes.
Aaron Bickart and Paul Appelbaum of OfferLogix and their ppp Penny Perfect Payments technology.
If you are on site and want a shout out, jump into the comments. This was the best I could do in a few minutes :)
See you all at Used Car Week,#UCW in Scottsdale November 6-9.
#BetterTogether #Automotive #LeadershipMatters #ConferenceStrategy
#EventStrategy #Performance
#Growth Opportunities #Strategy #StayRelevant
3008
There will never be enough technology, education, weaponry, prayers or money on this planet to outmatch willful, embedded, ingrained hatred and evil in the hearts of men of all religions and persuasions who choose to see others as the enemy.
It is more important now than ever to stand up and stand with for your brother, your neighbor. We must choose to look beyond petty, unimportant differences and unite.
While the world is blowing up, too many people are still worried about what church someone attends or who they love or what they do when their personal life that affects no one but themselves.
We have to choose to work together, love more, do more. Our collective goal must be to link arms to make it impossible for those who would do us harm to penetrate the lives, liberties and well-being of good people.
What cold possibly get in the way?
Silly insignificant, emotional differences, that divide and weaken us.
Let it go... Nothing matters more than defeating raw evil.
3007
You can be a good, kind person and still have room to grow, stay curious, do more, keep an open mind, understand more people and shift your views.
But always start with being good and kind.
#BetterTogether #GrowthMindset #PersonalGrowth #ContinuousImprovement #GrowOutward #Automotive
3006
This writing spoke to me deeply. The final phrase echoes my spirit and many of yours:
"You are not obligated to complete the work, but neither are you free to abandon it."
I am not allowed to stand by hoping, waiting for someone else to do the work, pick up the cause. Powerfully living out a commitment to peaceful, lasting solutions is the least I can do.
#BetterTogether is for everyone, everywhere, with their own purpose, but who agree we must treat each other with kindness, respect and stand up for those who are suffering.
*Remember Micah 6:8 and the biblical Old Testament are in the Talmud.
-Laurie
#Leadership #Global #Purpose #Commitment #DoTheWork
3005
Do you ever wonder why things around you don't seem to change? For today, let's consider all of the calls we receive regarding concerns in the workplace.
If you work in an environment you believe is unfair or hostile, yet support leaders and politicians who embody the same mindset, how will we ever break this cycle? I wonder...
Poor leaders learned from worse leaders that this was the way to operate. When on one hand we are gravely concerned about
👉Hostile work conditions
👉Unfair treatment
👉Sexual harassment
👉Business improprieties
👉Misleading their employees or customers
👉All of the 'isms'
👉Failure to attract, hire and develop women into leaders
and so on...
Yet many of those same people, often women, reinforce those very behaviors in their choices in arenas where it matters most- and even celebrate the worst of them. You have to wonder if they even recognize this.
Companies- and poor leaders- will only pay attention when you live out your values and concerns on all fronts.
I can help you navigate these challenges, but you must first think about how you and your actions are limiting others. No wondering about it any longer.
Adulting is hard.
Wisdom is a choice.
Action takes courage, not complaining.
Let's agree to stop the wondering and identify these undesired behaviors and systems, wherever they may be.
#BetterTogether #Automotive #LeadershipMatters #CorporateLeadershipDevelopment #CareerStrategy #IWonderWhy
3004
Another fantastic read from Jennifer (Blount) Sanford, published in Cherokee Media Group's #AutoRemarketing magazine.
If you plan to attend Digital Dealer Conference & Expo, make it a point to meet up with Jennifer to learn how her new company is helping businesses, especially in Auto, level up their marketing efforts.
For anyone considering calling Sanford Marketing Group who would like a proven reference, reach me in my DMs below.
#BetterTogether #Marketing #Automotive #CherokeeMediaGroup
3003
We always enjoy helping the rapidly growing Independent Auto Dealers who are focused on strategic growth, building and adding proven leaders and improving process implementation and enhancement towards reducing cost and increasing revenue and profitability.
This year, we have more to offer well-deserving 'Indy' dealers than ever before.
Reach out today to learn more;
#Automotive #IndependentAutoRetail #BetterTogether #PreOwned #UsedCars #Warranty #Leadership #StrategicPartner
3002
On My Guidance to Entrepreneurs: Don't wait, get in the race!
I have had the privilege to be requested for guidance from dozens of early stage companies. The founders are still busily shaping their product or service, assessing their ideal targets and working day and night, often while still holding another job. Admirable.
Taking these calls is always intriguing as the palpable angst and joy accompany their words while sharing their current state.
It's important to note how intelligent, talented, driven and committed they are as a whole.
Do you want to know the biggest challenge of all?
🎯Their quest for perfection.
Sadly, this noble goal is most often their Achilles heel.
The analogy is apropos as the leading cause of their lack of traction is the crippling effect of a 'Perfection or Bust' mindset.
Witnessing these brilliant solutions up close however, I am often saddened to watch as their brainchild slowly loses its luster, getting dusty as the founders drag out the 'go-to-market' process- merely because their pride wouldn't allow them to enter the ring with any flaws.
Meanwhile, other smart creators notice the same gaps to solve, thinking and acting more swiftly. It's easy to snicker at their enthusiasm while finessing your solution, but slowly, surely they gain on those craving perfection prior to entering the race.
WHY?
👉On average, these professionals have been successful, respected in their careers, finding in incomprehensible to fail or have other see any cracks in what they have painstakingly built.
Being embarrassed is a factor they cannot accept given their status, their intelligence.
👉Others deem themselves the brightest, most innovative creator, even while others offer helpful insights. This person cannot imaging any one else having valuable contributions
In either scenario, opportunities drift to insignificance as they work in the dark.
Here are my 3 tips based on my deep experience:
1) Choose Pain or Pleasure: Lower your threshold for perceived pain or embarrassment.
👉Ask yourself which you prefer: An unbruised ego or the pride of successfully launching.
2) When sharing your not-yet-proven or revenue generating product to other professionals or potential clients:
👉Park your thoughts of 'exceptionalism' and actively listen.
Inquire more when they share, what, why, how do they see you being successful? Take notes and conduct a small clinic on their feedback.
The best will call to request follow through and continue the conversation. You'll be surprised at how willing they are since you respected their thoughts and are applying them.
And finally
3) Just Launch!
🏃🏻♀️While you are lacing your shoes perfectly, others are running past. Do not wait. Enter the race, the ring and give it your all.
Adjust as you go, but go! Yes, there will be flaws, but it's far better to identify these with real customers rather than in your office.
You can only win if you enter the race!
#BetterTogether #Entrepreneurs #Winning
3001
Joining the Vigil, Part 2.
5) Resilience of the Jewish Community.
As I sat there, it was impossible to miss the fact that these atrocities are far too familiar for our friends. Of course, there are people from all walks of life in the community but their unity and care for each other was on full display, a powerful thing I know is missing in many of our lives. This was no ordinary church building, this is a culture thousands of years old. lived out with purpose now and lifetimes in the future, despite their enemies' attempts.
6) Open Allyship.
We are at a point in history where we realize silence and keeping our thoughts to ourselves has been ineffective. For myself and I'm only speaking of myself here, staying on the sidelines, looking away are not options. Prayers alone are not allyship.
Assuming someone else will 'handle' these endless Issues including violence and terror against any marginalized or targeted peoples defies common sense and logic.
I have dozens of friends I trust will share more with me as my journey toward greater understanding continues. This is not the time for my requests. This is time to show up, even if only to offer comfort and support.
7) Loving with Your Whole Heart.
If there's anything I do know from my decades as a child of a minister, in the scriptures, we are here to love, help and do as much good as we can.
Yes, the church leaders present were very clear that these acts of terror will be addressed swiftly. Many people in attendance were lighting candles for those they knew who were lost missing or hurting.
But repeated multiple times throughout the vigil was an equally clear message of love for the innocent people of Palestine who face their own daily horrors under the Hamas regime.
As an adult on this planet, my Maker makes it more clear to me everyday of my responsibility to replace thoughts and prayers with knowledge and action.
You see, I did not need to know the intricacies or the agenda prior to attending this vigil. I only knew my presence was required. There are moments when the voice in our heart simply tell us where to go and we must listen.
The specifics of the myriad crimes taking place and the level of inhumanity and depravity are undeniable.
Whatever your faith, and mine is obviously running thin, the absolute least I can do is support our brothers and sisters, elderly and young who are suffering beyond our wildest imagination. Thankfully, today we are seeing unity in our political leaders here and around the world against these evil regimes and in commitment for our friends in Israel.
My heart is broken for all of us.
On a call with a Jewish client this week, he told me it must take courage to speak up. For me, I couldn't live with myself if I was a coward, not lending my voice and actions. We are all just ordinary people but I always believe what we can do together can be extraordinary.
Sending prayers of comfort and hope. It's all I have for today but am committed to doing more.
3000
Joining the Vigil, Part 1. As I sat amongst the members of a church that is theirs, not mine, there were clear messages I took away.
1) Stillness.
Observing with care, stillness and intent was my responsibility and privilege.
2) Respect.
Listening to the words was not enough. It was viewing, feeling the impact on the entire gathering of the words that were spoken, the songs that were sung, learned from childhood. A sacred legacy of customs I may not fully understand yet could fully experience the depth of their meaning, even when shared in another language, their shared language.
3) Community.
The power of a community coming together to support our friends who are good and kind and hurting. As the congregation stood to join in for a familiar, heartfelt song, we all were hushed by the solemnity, bowing our heads, careful not to disturb the sanctity of the moment.
As they stood, many of their heads turned to see all who were seated, nodding in appreciation, somehow surprised to find their 'neighbors' were easily 20% or more of those who gathered. Even if we have very little to offer, our solidarity, support and shared sadness were noticed, hopefully felt.
Unexpectedly making eye contact with a couple sitting on the floor with a baby brought a small smile for their sweetness accompanied with instant tears. How do you raise a child knowing with so many people still want to eradicate your entire culture, your people?
4) Informed, not educated.
Aware of these deeply embedded issues from my teen years, watching events the last few years and now this past horrific weekend caused me to swear to myself to learn more and do more.
Continued, as there is so much to address.
#BetterTogether #PrayingForIsrael #PrayingForPeace #Community #Care #AutomotivePartners #Colleagues #Friends #Protection
2099
Last minute important notice for women attending National Association of Minority Automobile Dealers (NAMAD). Due to an unfortunate situation, we are not able to attend.
✨There is a fabulous luncheon hosted by the Women of Color Automotive Network (WOCAN). Tickets are $100 to join in the entire 4-hour event.
✨We had already purchased one ticket and would love to share this with a NAMAD attendee who would like to participate.
👉Please message me today if you know or are that person. We will quickly assess credentials to ensure this opportunity goes to someone who will benefit from it.
WOCAN is an outstanding organization serving women around the globe with education, community and opportunities. Their work is admirable and their large list of members continues to grow.
Thank you for helping us offer this to an industry colleague.
#BetterTogether #Automotive #WOCAN #WomenInLeadership #Growth #Opportunities #DEI #LeadershipMatters #CorporateLeadershipDevelopment
2098
Do you ever wonder why things around you don't seem to change? For today, let's consider all of the calls we receive regarding concerns in the workplace.
If you work in an environment you believe is unfair or hostile, yet support leaders and politicians who embody the same mindset, how will we ever break this cycle? I wonder...
Poor leaders learned from worse leaders that this was the way to operate. When on one hand we are gravely concerned about
👉Hostile work conditions
👉Unfair treatment
👉Sexual harassment
👉Business improprieties
👉Misleading their employees or customers
👉All of the 'isms'
👉Failure to attract, hire and develop women into leaders
and so on...
Yet many of those same people, often women, reinforce those very behaviors in their choices in arenas where it matters most- and even celebrate the worst of them. You have to wonder if they even recognize this.
Companies- and poor leaders- will only pay attention when you live out your values and concerns on all fronts.
I can help you navigate these challenges, but you must first think about how you and your actions are limiting others. No wondering about it any longer.
Adulting is hard.
Wisdom is a choice.
Action takes courage, not complaining.
Let's agree to stop the wondering and identify these undesired behaviors and systems, wherever they may be.
#BetterTogether #Automotive #LeadershipMatters #CorporateLeadershipDevelopment #CareerStrategy #IWonderWhy
2097
60 Minutes did a terrific interview with Rich Paul last night- and this morning, I received an invite from The Washington Post to join in on a session with him at noon tomorrow, Tuesday, October 10th.
This self-made agent to leading National Basketball Association (NBA) players has demonstrated his #strategic and innovative tactics to change the landscape by increasing the desirability of his high-profile clientele.
I will be watching over lunch to learn from this legend in the making.
If you would like to watch or livestream, let me know and we can share the experience and our notes.
#BetterTogether #LeadershipMatters #BusinessGrowth #Strategy #NBA #GrowthMindset #Innovation
2096
Today, hundreds if not thousands of our #Automotive friends and colleagues are heading to #Miami for a fantastic conference.
National Association of Minority Automobile Dealers (NAMAD) is holding their annual event and the lineup of speakers and topics is outstanding.
Over the weekend, once I knew my plans to attend were looking fragile due to client needs, I scrolled through their 122 page guide for the event. There are dozens of talented professionals here I want to meet.
From their impressive lineup of keynote speakers to workshops and the Women of Color Automotive Network (WOCAN), this week is a game-changer for those participating.
While I am still going to try to make it, if you are participating, please do share with us your highlights and pictures.
To Damon Lester, Kerri Wise and all others spearheading and growing this tremendous event, I wish you the very best and we cannot wait to hear more. To the hundreds of industry sponsors, smart move! This is an important conference and it's great to see your presence continue to grow.
In 2024, this will be an immovable event on my calendar.
Enjoy the conference and we can't wait to hear from you.
#BetterTogether #Automotive #AutoRetail #Leadership #ExcellenceInAutomotive #BusinessGrowth #NAMAD #Dealers #Dealerships #DealerPrincipals #ExecutiveGrowth #CorporateLeadershipDevelopment #GrowthStrategy
laurie@fosterstrategiesgroup.com
2095
✨The Power of 15 Minutes Series: Beyond 'WHAT'-Launching Your Week Focusing on 'How'
Most often as we do our planning, we have a list running over with all of the 'What' tasks we want to accomplish. That's how we were conditioned to plan, if at all.
But first, before we get into this, HURRAY! for those of you who plan their weeks at all!!! Believe it or not, you are in the muscular mental minority, so kudos to you. Today we are looking another level of scheduling to increase your results.
BEYOND 'WHAT'- 'HOW' WILL YOU APPROACH YOUR WEEK?
Take a few minutes today to think about 'how' over 'what' you want the upcoming week to look and feel like, both to yourself and others.
The usual way we go about our list can feel challenging or perfunctory.
What if instead for a change, we considered our 'how' or our 'style' in approaching the same typical or new tasks.
🎯Could it be a mindset shift?
🎯Could it be a more quietly confident approach?'
🎯Perhaps setting up your calls or meetings with a few minutes prior to and post these events to allow you time to mentally prepare.
🎯How about dressing up more a few times over the uber-casual we (yes, me too!) have sometimes overused?
🎯For some, deciding to get over their own hurdles to do something extra- like sharing on LinkedIn-instead of ruing the venture, choosing to enjoy it!
🎯What if listening more closely and carefully considering and framing your responses allowed you to think more clearly and sound more invested?
We will all do plenty of 'whats' this week whether we plan for them or not.
If we all worked on our style and approach, perhaps we will discover some new outcomes or conversations.
'HOW' Matters, Choose a Fresh Style!
It's worth a try.
Start thinking about how your Style could use a touch up and then work towards mastering these skills.
Let's hear your thoughts. Is this method something you can do, or are already employing? Would you share your thoughts, ideas or examples?
✨ Remember, It's your week. Make it your best by aiming for how you will approach it in style!
-Laurie
#BetterTogether #Style #Automotive #Leadership #Approach #ExecutiveCoaching #LeadershipMatters #Coach #GrowthMindset #PersonalPerformance
2094
Friday reflections for you: Much of my time is spent helping people explore their options, identify opportunities, offer solutions and clear the path to greater success, profitability and rewards. Fortunately, we have an incredible clientele who realizes the roles we all must play.
There are plenty of others and we hear the stories.
No matter how much time and brain power you share based on a request or a goal, some still elect/choose (refuse?!) not to participate in their own success.
They want your silver bullet, but forgot to learn how, when and where to fire it off. Their only move usually seeks to place blame on others for their inaction. Yes, right here in the professional realm.
What do you do?
⏲️I spend zero hours 'making' people do anything.
Do I influence and provide support? Of course.
Can I take their hands and feet and 'make' them do what they should? No.
My abilities to create action are better than average, yours also. But it requires a willing, capable partner. The same is true in life at work, home, relationships, everything.
Imagine...
📉Going to the Doctor to secure a remedy, buying the prescription and leaving it on the table.
👉The most successful professionals and partners know they will need to do their part. It might not require a lot of time or effort, but they are the only one who can make those choices.
Perhaps the wise farmer said it best 100 years ago, "You can lead a horse to water, but you cannot make him drink." 🐎🐎🐎
I'll add this to close... sometimes, the horses still won't drop their head and drink, even as they tell you they are dying of thirst! 👀👀👀😵💫🐎
Invest your time on the horses you know will do the work.
I'm betting both of you will win.🥇
#BetterTogether #Automotive #CareerExcellence #Leadership #Performance #Talent #CareerGrowth #CorporateLeadershipDevelopment
#BusinessStrategy #GrowthMindset #Accountability
2093
On another terrificly talented and trusted industry colleague:
Meet Matt Raymond of Team Automotive Group. Fo many of you, use this as an opportunity to say hello again!
Matt and I have had many great conversations over the years. Our latest were at our mutual friend's wedding. Kristin Dillard Sodoma 's celebration and nothing short of spectacular.
In addition to our wonderful surroundings, I was able to meet Matt's wife and enjoy learning more about their family.
Their commitment to join Team Auto Group was significant. They relocated their entire family from Pennsylvania to North Carolina. He is happier every day with his decision. And the family loves their home in metro Charlotte.
There are two huge things we have in common:
1. Our passion and commitment for progression and the people in #automotive.
2. Second, only for the sake of this list, is our deep love and commitment to our respective families.
For those interested in connecting with a solid professional whose career continues to soar...and is also a terrific guy to know, connect with Matt here and be sure to watch for a chance to meet up at the next conference.
#BetterTogether #Automotive #Partnerships #LeadershipMatters #Performance #Innovation #Talent
In case you don't already know Matt, he is the one on the left in this photo. 👀😂😇
2092
With over 40% of student loan debt attributed to graduate school debt, despite enrolling only 15% of borrowers, which PhD was going to do the math and declare this as the scheme it was.
They have made billions and our friends are saddled with debt before their 'real' life can even begin. And now with Health Care running $700-1000/monthly - how are today's generation going to be able to buy cars, secure mortgages, have families, spend money at your businesses...or even survive without losing hope?
⏳It's time to reset the table.
Any degree a learning institution chooses to sell, excuse me, 'offer', should come with full transparency.
A warranty along with
Projected realistic incomes
Market Demand
Future Market Projections
Value of the Degree Based on Typical Pay Scales and...
A Guarantee of Ongoing Professional Career Services.
Either that or stop 'selling' and guilting people into your education programs.
In 2009 as the Recession was exercising its blows, I had this conversation with a colleague. I wish I had shared my thoughts publicly then. People were leveraging their homes and retirements to fund a no interest guaranteed return on their investment. Our country had become emotionally carried away with a mélange of unearned pride, unwanted shame and more as they crippled their own futures for the all-too-often and grossly overpriced pipe dream.
Parents, hopefully many of you are now realizing the fallacies of the myth that your kids, or even you were told. Let's normalize real conversations, real math and a full scope of respectable careers-far beyond the reaches of these beautiful buildings and their carelessness.
Perhaps the rest of us need to re-think the questions we robotically ask students. Rather than, "What University do you plan to attend?", try replacing it with "What careers are you considering?" and "What types of opportunities would you like to pursue."
We have put our nation's young people into a pressure cooker with our questions and unrealistic expectations- $25/hour jobs requiring $150k worth of schooling costs. If and when it doesn't make sense, we need to change our perspective and our guidance.
These people, our kids, deserve our best solutions and options.
