Are you ready for the next generation?
There’s a lot of interest in issues like succession planning, the lack of a solid bench strength for our industry, and questions about where the future leaders of Canada’s automotive retail industry are going to come from.
It was a central part of many of the conversations I had with the dozen Laureates I interviewed in Ottawa. Many of those Laureates, when asked to look to the future, raised doubts about whether they, and their fellow leaders, had done enough to find, train and groom the next generation to replace them.
The demographic profile of our industry suggests some dealer principals are nearing an age where an exit strategy into their retirement years is a key part of their focus.
So where are these next generation dealers going to come from? If they are no longer able to bootstrap a dealership acquisition through traditional financing means — borrowing from everyone they know to raise capital — then how will they join the ranks of entrepreneurial dealer principals?
There are other trends in play. With the growth in dealer groups, where placing competent business managers rather than creating new business owners is the model, where is the dynamic and charismatic leadership going to come from?
These are questions we are mulling over here in the editorial offices of Canadian auto dealer. We intend to do our part to search far and wide across Canada to find, meet and celebrate the “young guns” who might be small in number, but mighty in influence.
This next generation includes dealers like B.C.’s Mike Trotman, winner of the prestigious Top Forty Under 40 award we featured in our May/June issue, and we’ll be profiling another dynamic young leader in Brent Marshall from Edmonton in our next issue.
I was also impressed with a dynamic young 20-something from Saskatchewan named Mitch Gallant. I met Mitch at the digital dealer conference in Orlando, Fla. recently. He is the director of eCommerce at the Capital Automotive Group, and I believe he — and others like him — are ones to watch. He’s not afraid to try new ideas, learn from the best, and push the limits of e-commerce and digital marketing strategies to propel his dealership forward. And he’s not an owner — yet. Maybe someone will bet on him?
So, if you come across a Mike, Brent or Mitch —drop me a line. Whether they are old dogs or young guns, there’s plenty of good ideas to share.
