THE ANDY ELLIOTT CAR DEALERSHIP SHOW! Episode #1. “The Golden Handcuff Syndrome & More!”

THE ANDY ELLIOTT CAR DEALERSHIP SHOW! Episode #1. “The Golden Handcuff Syndrome & More!”


Guys how you doing? It’s Andy Elliot. Check this out today. We’re gonna talk about The dealership life and I want you to understand this There’s a lot of things that I think that go on in the dealership life That is game-changing that if you just open your eyes for a minute You’ll realize how much money that you can make in the quality of life. You can have the first thing I’m gonna talk about you want to watch this whole entire video because I’m going to nail some crazy topics But one of the first things I’m gonna talk about is the golden handcuffs syndrome. And if you don’t know what this is So I’ve been in the car business since I was 18, I’m 40 years old now I’ve been doing this for 22 years in the golden handcuffs syndrome is something that it took me a long time to really understand And I really see salesmen and management and GM’s and even owners All get tied up in the golden handcuffs in there and I want to tell you what it is And I’m going to tell you how you can get ahead of the curve and how to take them handcuffs off So first of all, the golden handcuffs syndrome, let me tell you what it is so At a very young age when I started when I was 18. I had nothing. I didn’t have a car. I was dead broke Well by my second year in the business I’m making $150,000 a year So what happens is because I had come from nothing and I literally had just you know Like my number one goal is just to outwork everyone around me and like to learn as much skill as I could about selling Persuasion influence, you know What happened is I didn’t know any other trades? I just need selling and I knew that the car business took really good care of me So what happened is I ended up putting these gold handcuffs on me because the money got in my veins Because I was working so hard all the time and by the age of 20 to 21 years old I looked up and this is what my life looked like. I was working from 8:00 a.m. In the morning literally until 11 o’clock at night I was the first one there in the morning and I was the very last one to leave and I mean like I was still Taking ups when they were trying to shut the game Why because the car business has given me such a good of life that it was amazing. Okay? Now when I say life, I mean like that equated to money I learned as a kid you give your time for money So when I handed my time over and I went to work, which I gave all my time from 8:00 a.m In the morning till 11 o’clock at night in Return I was making 150,000 a year at a young age That’s called the golden handcuffs syndrome. Why because can’t I leave the car business now? No, I Can’t I can’t leave it in an order for me to keep up and continue to make more than next year What will I have to do? One of two things is gonna have to happen one. I’m gonna have to increase my skill, right? Then I can work less time or two of my skill. Don’t increase I’ll have to work more time to get that to go up and in in order to maintain And even keep the same level of income. I’m gonna have to give exactly what I gave the year before Now let’s talk about this. What if times aren’t great, right? What if I have a good year and the economy is great right like so we’re talking about 2019 right now Economy is good There are some things that are changing that I would honestly tell you I bet there’s a recession late 2020, but things are good right now so if a guy made $120,000 this year and he’s working hard. He’s got his gold handcuffs on You know what? I’ll tell you what if the economy crashes next year Well, unless he knows something that his competition don’t know he’s screwed You know why because working all that time on the lot and giving his life away to work It won’t help him if he doesn’t have this skill So they get the golden handcuffs syndrome is something I want to talk about dealership life that I see lots of guys Unhappy now. Listen, this is me talking about 18 to 21. Let’s fast-forward to a guy who’s Twenty five thirty thirty plus a guy who’s got a wife a guy who’s got kids I mean think about this. Can you go to work at 8:00 in the morning and literally leave at 11 o’clock at night? No ways because if you do you all trade that time for the worst relationship with your wife possible right number one and number two You’re not even being a father to your children You can say that I go to work and I work for my family and provide but your kids don’t have anyone raising them Especially not a father and I’m gonna tell you when you’re probably there on the weekends and on your day off You’re probably so mentally exhausted because the body can only sustain so much work in a week That even though you’re there you’re probably really not there so the golden handcuffs syndrome is like this now you look up in life and you’re like I need out I Don’t want this. All right, all that money that I made It’s nothing. I’m basically trading my time for a bunch of money, but I’m giving away my children. I’m giving away my wife And guess what? I’m literally sitting here unhappy now to the world You look like you’re successful. You really do to the world. You got your neighbors seeing you you’re in your new car, right? They see your beautiful home and they’re like god man, you know You guys really did well and inside you’re like smiling because you know It’s a social media stage where we want to show everybody that you’re doing great and on the outside it does But on the inside your wife screaming leave me Your kids are screaming leave me your work is saying I need more and they don’t appreciate you Anyways, even if they say they do alright I’m going to tell you this dealership life is like this and the sooner that everybody understands us the better that we can all just Agree on what it is what it is Dealerships their their loyalty to you is until their need for you is gone When their need for you is gone their loyalty Ends at that moment And I’m not saying that that’s a bad thing. But let’s just decide to understand it is what it is So value your wife Value your children man value, even if you’re on the other end right now and I’m talking about dealership life if you’re single Right and you’re like why don’t have wife and I don’t have kids but you got to have self-love Right, you got to go to the gym. You got to take care of yourself There’s something that you were passionate about in school growing up or whatever hanging out with your friends You got to do that to love yourself because if you don’t love yourself and then you start giving everything you have to work But there’s no love But guess what inside you start to go cold. You start to go dark Okay, it’s like being a wolf, you know, I want you to be a wolf I want you to be a hungry and I want you attack, but also I want you to be loving in kind okay, so that was one of the first things I wanted to talk about was the golden handcuffs syndrome how a lot of guys get in this business And I’ve got a couple of topics I want to talk about but that’s one of them and if you notice yourself That you’re like man in some form of some way in my life. I’ve got those golden handcuffs on Like honestly like I’ve made a good living in the car business And I get I do give all my time to the to the store. I honestly have neglected the family don’t lie to yourself Man, do you know how you fix it? You fix it with one thing. It’s called learned skill Learned skill let me tell you what learned skill is learned skill is your recession-proof? Learn skill is you know what your competition don’t know and you work differently than everyone else in your dealership You are the one percenter and you look different than everybody and that’s what makes you special And if the economy crashes and it gets hard, you’re still killing Okay, so I want to talk about that’s called a learned skill. Where do you get that from? Hey, I’ll teach it to you or be you get out there and you learn it from someone in the world that can teach it To you and they model with themself because Society lies to you Okay on Facebook Instagram every time I scroll through right I was looking to steal Ellen must the other day He says work 90 hours a week, right? That’s how I got him work 90 hours a week and I’m like, okay wow, man I mean I get it like hey, I’ve been through that grind I mean it but how long can you sustain that? I mean truthfully how long he says I believe that there’s 60 minutes in an hour. There’s 60 minutes in an hour And how you work 60 minutes in that hour is what really matters And I can go to work at a car dealership and I can work for three hours 60 minutes in an hour and I can work more than what a guys working in a 15-hour shift I can sell probably two to three times as many cars and guess what? I’ll be happy I’ll have a fulfilled life in most importantly I’ll be happy Inside and out. So with that being said we talked about the golden handcuffs syndrome guys You can work 40 to 50 hours a week in a car dealership I think that that’s fine. But you have to become deadly on the internet. You have to become deadly at closing negotiations overcoming objections deadly worth tracks you have to become you have to be high in all those critical areas and Really really something that’s important is that you have to understand that they’re dying to put those handcuffs on you Don’t be like everyone else. Don’t let him put them on because they’re golden. They trick you. All right There’s a couple things I want to go over today. All right, let’s talk about it my kids Look at that crazy Trying to set me up here. All right, let’s go to the next page here. Here we go All right We’re gonna talk about ignoring the haters. Okay. I got a couple of talk topics I want to talk about but I want you to stay with me here because haters will keep you from preventing your dreams All right. No one wants to see you make it. Okay ignore the haters There’s guys wanting to do good and grow and kill it versus guys that have a sign on their desk So I always say this right you got a new guy that comes into the store and I get contacted daily by new salesmen They’re like, hey Andy, I’m just getting in you know, one two, three years and under and they’re like I want to get better I want to do this You know guess what happens they’re ready and they’re reaching out to go to that next level and they want to make that big money Do you know what but that guy that put a sign on his desk a long time ago that said hey I stopped learning a long time ago, right? He’s got that sign on his desk. He’s in your dealership. You know who he is He may be you That guy he’s drownded and when the recession hits he’s gonna be crying like Thank you. You know what? Everybody right now that understands and knows the internet like the back of their hand right? They are going to make it I’m gonna tell you in 2020 every single salesman that’s partnering with me on the back side of this screen There will make two hundred fifty thousand dollars minimum three hundred thousand dollars. How what happened? It’s real easy They’ll be make guys do the math. You’ll be selling 25 cars a month. You’ll be running $800 per Commission per deal 25 times 800 per Commission per deal that’s 270 to 300 thousand dollars a year So on 25 cars a month Why because there’s two things that we do one we sell more cars and two we raise our gross profit Okay, but if you’re not a great closer when your customers are coming in to deal with you Right, if you’re not a great closer and you actually sound like you’re getting caught up Or maybe you’re not good at negotiating Or you don’t sound like an investor or an advisor and you sound like that car dealer across the street Guess what happens you’re gonna get slow and those customers are gonna feel friction and you know what, they’re gonna say They’re gonna say no and they’re gonna walk away and I want to share something else with you. Remember people in life if you’re 80, I didn’t say 50% if you’re 85% in and you know your job 85% the Customers will still tell you no and walk away because they smell that 15% of uncertainty on you You have to be a hundred percent in this business Cockiness and arrogance is out the window. They hate it. I hate it Confidence is key. And where does confidence come from confidence comes from? Competence and competence comes from learning learn skill and training Okay, so don’t let that hater that has that sign on his desk that said hey I quit learning a long time ago stop you from growing and going to the next level I’ve got guys that are coming to my descent in my seminar December 13th or 14th And they’ve talked to their GM’s they’ve talked to managers and guess what happens they say, I don’t know you shouldn’t do that You know like well, we’ll teach you that here. We give your own training guys I’m gonna share something with you favor ask him to hey awesome Would you mind showing me your year-to-date when you sold cars? I see it Because I’m gonna tell you if you’re dealing with the sales manager that made eighty thousand to a hundred Thousand a year when he sold cars guys You can make eighty to a hundred thousand dollars a year with your eyes shut in the car business I’m talking about you making three four hundred thousand like you shouldn’t be Ok, quit aimin solo But guess what you are an average of the five people that you’re around the most so since you’re around them a lot Maybe that’s what happened. So stay away from the haters. All right. Most people are Not being hustlers. Alright, let’s talk about this Most people just want to pay the bills when I talk about this when I was a kid right now in life any point in My life, I’ve always hustled hard Okay, there’s something called IQ. And there’s something called hu right now we all know what IQ is right IQ Is that test you take in school? They give you an IQ test and you see where you score? All right. Here’s the deal I’m not great at taking tests I still have a decent IQ but by hu skills my IQ each you is like People knowledge people skills the way that you’re able to work and read people. Alright, I Teach that and I want to explain this to you So you understand this if you want to be a killer hustler if you want to make a lot of money You’ve got to learn to read people guys. There’s product knowledge And there’s people knowledge if I had product know if you work at a new Ford dealership Okay, and there’s a Ford store here in a Ford store here. There’s one salesman here He has killer people knowledge in this guy at the same store has killer product knowledge Which guy do you think will make more money the product knowledge King or the people knowledge King guys? the product knowledge guy is gonna make 3500 bucks a month the five grand if he’s lucky This guy’s gonna make ten to fifteen thousand why he knows nothing about the product. You know what he knows everything about The people and who are the one paying your bills the people guys? I’m gonna tell you right now you need to get set and understand that you’ve got to learn to be a hustler Okay And I didn’t say hustle people the hustle are like work hard and learn the skill that it takes To do this job at a high level to become a high cheaper liar in life, man I mean it’s time for you guys to burn the boat and swim to the island inside You’re gonna take over your store And then once you take over your store, take over your stay and then take over this country in selling Okay, so I want to talk about this There’s a gel here and for some reason these guys that aren’t these hustlers This may be you they go to work just to pay their bills So when I say this you go to work and you trade your time for money But just enough money to go home and pay your bills guys I want to tell you either need to do one or two things number one quit buying so much stupid stuff Okay Because what’s happening is you’re you’re forcing yourself to have to make more money to pay for stuff that you bought to impress people that Don’t that don’t even like you that you don’t even like Okay, and then secondly You know when I talk about like that that gel house, maybe it is that maybe you don’t need to make more money Maybe you need to put spin and money stupid But in this business that we’re in in the sells industry guys It’s a sixty trillion dollar in you bit or your business right now There’s like two millionaires that were made last year just in the u.s. Over the whole you know like the whole world there was like four millionaires or there was like Let’s see right here. Yeah, there was like Guys I’m telling you I’ll bet you in 2020 and I’m reading it right here. I bet in 2020. I Bet in the United States. I Bet there’s probably 4 million new Millionaires that’ll be made next year The deal is one of them could beat you it could be your story You could be the next guy and you know what? Maybe that’s unrealistic It could be making five hundred thousand But I’m gonna tell you this you’re not gonna get there by trying to make enough money to pay your bills You’ve got to stay a hustler So as I was trying to read these stats, I just like to tell you it’s just crazy on the numbers that it is So executions key probably something short. I want to talk to you about Okay, so standing out front and taking ups you can make about 80 to 120 grand a year You guys know who you are. You stand out side you take up. Listen, you got a great job You got the gold handcuffs on because I know if you’re only living in the fresh up world Guess what you’re working from 80 to 120 hours a week I mean you’re you’re making 80 120 grand a year, which is probably it probably is working 80 hours a week Guess what you’re trading a ton of time to get that money So you’re having to work constantly guys? The guys that are getting involved on the internet and then are understanding it and learning it which means understanding Craigslist, like the back your hand Facebook or and marketing Facebook marketing Right guys that are understanding how to get their hands on anything to create their own Internet departments within themselves Those are the guys that are gonna make 300 grand this year And then probably the last thing that I want to end with the show This is something that you guys literally will this is what habits? Self-discipline. Okay, and just doing the work Those are the things that are probably going to take you the farthest as I end this out in dealership life guys People in dealerships. It’s like they crowd in circles cool corner is over. Okay. I want to share with you It is lonely at the top. You have to be alone You cannot crowd with anyone else and there’s honestly not very many people to look up to in your stores where you’re at So you need to honestly stay focused on what your goal is what your vision is You need to stay alone or you need to outwork everyone in the store There’s 60 minutes in an hour you get over 60 minutes in that hour You’ve got to learn the internet game like the back of your hand Even if you don’t like the internet It needs to become your new best friend because that’s the way you’re gonna make that million dollars a year selling cars being coming in GM and then honestly when you learn this imagine This guy’s you’re running your own store in the dealership life. And guess what you’re teaching it to all your guys and You guys got the one store out there. That’s not asleep with the wheel that’s crushing it Okay, so guys. I hope you love this. Have a great day. And these are some great tips that we have in the dealership life You

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