Pain of Discipline vs. Pain of Regret with Tommy Gibbs

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A 50 year veteran.

Tommy Gibbs has been selling cars longer than Paul, Kyle or Michael have been alive. What made him such an effective operator and what makes him a great consultant now is his emphasis on the basics. You might not get the latest flashy trick play from Tommy, but it will be effective if you work at it and get good at it. Plus, there are plenty of football analogies along the way.

What we talk about in this episode:
0:00 Intro with Michael Cirillo, Paul J Daly and Kyle Mountsier.

4:51 Tommy shares the story of how he’s moved through the industry, along with the good and bad times he’s experienced.

11:08 Exercise good common sense, stay true to the core principles, don’t get too caught up in what’s happening in the world at large, and you’ll always do well, according to Tommy.

“If you have these core disciplines, and you stay focused on the right process and do the right things all the time, you always win in this business, no matter what happens in the cycle, I hear people talking about a recession is coming or our inventory is short, and I go, who cares? I mean, I really don't, I don't think you should really care if you're doing the right things that you should be doing. Because if your inventory is being handled correctly, if you don't have a lot of aged units, or any aged units for that matter, if you don't let that happen to you right now, when times are good. It's not going to matter what happens to the value of cars, because you're always operating in today's market. You're not dealing with inventory from yesterday, so to speak.”

12:31 Tommy and the guys unpack the comparison of a dealership to a football team.

20:12 The pain of discipline is making sure you’re staying on top of inventory, the pain of regret is what happens when you don’t exercise discipline.

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