Leadership 2.0, the University of the Aftermarket’s annual Leadership Development Program, officially began its second session Sunday at Northwood University’s West Palm Beach, Fla., campus. This week, several participants in this year’s class will bring us their firsthand perspective on the experience. Today, we present blog entry No. 3 from John Tully of Norwood Motor Parts Co. 
Today, we spent the morning with a great, spirited discussion regarding ethics and conduct. There was contribution from everyone in the room. It was a super presentation from Dr. Frank Morgan. I believe it’s important for every organization, large or small, to create a clear policy on ethics, morals and acceptable conduct. When in doubt, ask the question: Do you and your people do the right thing when no one is looking?
In the afternoon session, we switched gears and talked aftermarket finance and accounting. We discussed key metrics in the aftermarket, which include miles driven, fuel prices, VIO’s, age of vehicles, and consumer confidence. We discussed the importance of financial ratios and financial statement analysis. We reviewed the 10-K reports from O’Reilly Auto Parts and Advance, then compared these two companies to AutoZone and their respective trends and KPI’s. Pretty powerful information! But I have to admit: Once instructor Rick Guirlinger started referring to “Enterprise Value to Sales Ratios” and “Enterprise Value to EBITDA Multiples,” I was in trouble!
We are now approximately three-quarters of the way through our Leadership 2.0 journey. There has been such an abundance of information that has been presented to us that I cannot begin to share it all in this space.
However, I would like to reflect on a few thoughts that made an impression on me. These are ideas that I can apply regularly, and I believe everyone can utilize in business, at home and with family.
It goes back to Session I in the fall and a day we spent with Dr. John Passante. The core subjects that influenced me were the areas of self-assessment and creating a culture as a leader. In the category of self-assessment, a few principles made a lasting impression:
· "Blind Spots" – Understand what people think about you and your organization that you may not be aware of. Be honest and open-minded in processing these assessments and create a strategy to address them.
· "Have a Mentor, Be a Mentor" – Pretty self-explanatory, but critical in striving for constant personal improvement.
· "Create a Culture" – What do you and your organization stand for? Encourage employees to have ideas, as they are your company’s greatest asset. Ask yourself a few questions: As leaders, do we motivate, inspire and energize those around us? Is everyone on your team pulling in the same direction? Are your managers truly leaders?
Good leaders understand their strengths, weaknesses and values. They engage others with a positive, caring attitude. Leadership is not an act; it’s a way of life. Thanks, Dr. Passante.
I’ve met so many terrific people in this program. Bright, talented and passionate people. I look forward to staying connected to many of them. I am fortunate to have been invited to Leadership 2.0. Thanks to the University of the Aftermarket, Aftermarket Auto Parts Alliance and my great company for this opportunity.
Lastly, insist on stepping outside your comfort zone; you’ll be glad and better for it. I just did and now I’ve completed my first ever blog post!
To read yesterday’s post, click here.
