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Inside AED AED Summit sessions provide you with step-by-step instructions. According to Langdon, the goal is to compete on factors Competition is nothing new, but have you other than price. "Even if you are selling the same product wondered if some customers are worth winning over? Bob as another dealer, there are so many more components Langdon can help you decide. Langdon offers a systematic that go into a decision about where you buy the product," and proven approach to improving profitability and one said Langdon. "The key is to identify of the first steps is finding something that is more important than out who your most profitable price, so that price can move down the customers are. Bob Langdon, consultant, decision-ladder." "Most dealers fall into the trap speaker and author of Immediately following, in a second of treating all customers the Managing Your Business for same," said Langdon. "Instead, Profit, has been helping busi- Summit session titled, "Three Routes to Increased Profitability," Langdon guides they should be offering differnesses learn how to achieve dealers in the process of evaluating their ent levels of service based their sales, marketing and profit potential and exploring three on the profitability of financial goals since 1981. different ways to increase profitability. the customer." A sought-after speaker among dealer groups, Langdon In "Seven Steps to Closing a Profitable Sale," Langdon promises to add understanding to profitability concepts offers practical step-by-step instructions to guide dealers with real-life examples based on more than 30 years in the process of identifying and selling to the upscale, consulting with manufacturers, dealers and contractors. service-driven customer, and closing a profitable sale. Attend Langdon's sessions at AED Summit to discover Understanding how to differentiate your dealership is a key focus because most dealers can't afford to be the lowest what differentiates your business, and then follow the steps to greater profit margins, more working capital and cost provider. "It's about identifying ways to compete, finding a niche and being profitable," explained Langdon. loyal customers. The Power of Sharing Performance Group meetings prove to be the easiest way to make more money. Performance Groups, a type of Dealer 20 Group program created last year by AED and ADP Performance, is a powerful and growing new member benefit for AED dealers. Participants in the newly formed groups – never comprised of competitors – are realizing tangible applications from the best practices shared among group members, as well as shared monthly financial reporting, and even accountability to complete "homework" between meetings. "The real benefit is from attending the meetings and exchanging ideas, practices and information," Dennis Heller, president of Stephenson Equipment based in Harrisburg, Pa. "I do not understand how anyone could afford to not engage in a Performance Group. "It's not a cure-all, but it is one of the many Dennis Heller things a dealer needs to do today to make money." Enrollment is open to all AED dealers, and a new rental-focused group is currently in development, which is open to members whose business models range from traditional dealer with RPO-style rental practices to 100-percent rent-torent operations. Some five years ago, Don Shilling, president of General Equipment in Fargo, N.D., had helped AED identify the need (continued on page 10) Proposed New Members CWS Industries (Mfg) Corp. Surrey, British Columbia Winkle Industries Alliance, Ohio Trekker Tractor, LLC Miami, Fla. Proxibid Inc. - Omaha, Neb. Cumberland Tractor & Equipment, LLC Nashville, Tenn. Pettibone - Baraga, Mich. Noble Iron - Houston, Texas This list is published each month as required by AED bylaws. Comments on the applicants should be directed to AED President Toby Mack at 800-388-0650 ext. 326 or jtm@aednet.org. 8 | www.cedmag.com | Construction Equipment Distribution | December 2012