By: Myril Shaw – Shaw Consulting US 

The Hippocratic Oath was originally directed at physicians to ensure that they practiced their medicine in the way that best for their patients. They had fundamental guidelines that they would follow , To the very best of their ability they would provide an experience and an environment focused on doing the best by and for their patients.

Today, the New Hippocratic Oath Of F&I For Dealers illuminates the path to great sales, great profit, and excited and loyal customers (and employees).

The New Hippocratic Oath of F&I For Dealers is:

To the very best of my ability and in all situations, I promise to act according to the following three guidelines to ensure a delightful customer experience while also delivering the best for our store:

·       First, Do No Harm – No matter what, never cost a sale

·       Aggressive And Graceful In Retreat – You never get more than what you ask for the first time

·       Respect And Care First – Customers are entitled to respect and appropriate engagement in their lifestyle purchase, which includes not just pleasant and respectful conversation but also the proper and visible protection of the customer information

“First, Do No Harm.” While the objective may be, and should be, to maximize F&I profit on every transaction, it is critical to remember that no sale means no profit. Clearly, a customer who is ready to talk price is excited about their lifestyle purchase. There is a difference between excitement and being forced out of a comfort zone. A properly presented price package must always be conveyed in the context of what every dollar is going to do for their lifestyle. While many, if not most, customers do want to hear about lifestyle access and lifestyle protection, it is important to leave a path all the way back to zero profit that can be followed in order to ensure that unit goes out the door – without the customer feeling as though they have been disrespected.

“Aggressive And Graceful In Retreat.” It is virtually impossible to increase the total package price, or increase the price of even a single element after the initial offer. Always talking payments ahead of prices provides much more flexibility and leeway in making graceful adjustments. Payments are also where the customer must ultimately be comfortable. Having multiple lenders available makes it easy to let the customer know that perhaps they can get a better payment with a little more work. Having multiple suppliers for Protective Products leaves the door open to swapping products and thus making price/payment adjustments in a way that the customer can understand – and will not feel like they were being “taken advantage of” in the first place. Again, respectful, lifestyle oriented conversations and presentations make the customer more comfortable and confident that their best interest is the focus.

“Respect And Care First.” The customer is a lifestyle partner – not a checkbook. The fact that are at the store means that they should, under all circumstances, be treated with care and respect. It is fine – even good – to laugh and have fun (after all, that is what the lifestyle is about) as long as it is with customer and not about or directed at the customer. The customer must feel valued from first contact, and forever thereafter. As the customer begins to reveal personal information, it is important to convey both why that information is need, but also how well cared for it will be. The customer must know that you care about protecting the information and ensuring its accuracy – everyone can make a mistake – protecting the customer from being or becoming a victim of identity fraud. They will care that they are cared about – in every way!

The New Hippocratic Oath Of F&I Dealers: First, do no harm; Aggressive and graceful in retreat; Respect and care first.

Make sales – make money – make fans.

Good for the customer – great for the store!

Start today!!!

Shaw Consulting US – Helping You Maximize Profit and Minimize Risk Every Day 

Shaw Consulting US, LLC can help you achieve F&I excellence and Compliance safety – or at least a demonstrable “good faith effort” in Compliance - no matter where you are in the development and/or maturity of your store or stores F&I success / Compliance Effectiveness models. The Founders have helped lead dealers and Service Providers to achieve the highest levels of “per unit F&I profit” and have significant experience and success in equipping and training dealers in Compliance best practices. 

We train, consult, provide tools and documents, and can help source the best people. We can also assist in building out the best systems for delivering both F&I profit and Compliance best practice. Whatever you need, Shaw Consulting US is here for you.

Visit our website (and see our Blog posts) at https://shawconsultingus.com, contact us at info@shawconsultingus.com, find out about our special Comprehensive Compliance Program at compliancespecial@shawconsultingus.com, or just give us a call at (678) 641-8419.



Whether it is maximizing F&I Profit or minimizing Compliance risk, or both, or a combination Shaw Consulting US, LLC an help you be your best (https://shawconsultingus.com)The body content of your post goes here. To edit this text, click on it and delete this default text and start typing your own or paste your own from a different source.