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 hear from Bailey Overman, senior analyst, Automotive Aftermarket Suppliers Association (AASA).
Click here to read Blog Post No. 1, here to read Blog Post No. 2., and here to read Blog Post No. 3 in this weeklong series.
We’re
halfway through the week here at Leadership 2.0. Today kicked off with
our second session of finance. Although many would argue that any
discussion of finance would lull them into a deep stage of the sleep
cycle, Rick Guirlinger did an excellent job with bringing some color to a
complicated subject.
We discussed various aspects of finance:
time value of money, internal rate of return and outsourcing. Rick was
able to provide many useful examples that we can use in our own
businesses. Finance is a murky topic but is essential for any business
to understand and use to make wise financial-based business decisions.
One
thing that strikes me is how passionate this industry is. Be it
branding, e-tailing or the increasing market share of retailers,
everyone had strong opinions and participated in lively discussions
throughout the week.
It brings to light a few of the many issues
plaguing the aftermarket industry. As an association employee, it is
commonplace in our office to have similar discussions regarding these
issues; however, the real value of Leadership 2.0 is hearing from the
entire supply chain. Be it aftermarket suppliers and their qualms about
extended terms and rising interest rates; distributors and the dilemma
to supply to Amazon and eBay; or service technicians and creating that
essential relationship with the end customer, the market dynamic is
apparent throughout and there is never a dull moment.
Wednesday
also was welcomed by the class because it was our “group presentation
work day.” Each team was given time to finalize their
presentation in preparation for Thursday. This is the greatest value of
Leadership 2.0, in my view: collaborating with others from various
parts of the supply chain on a pressing aftermarket issue.
My
team, which includes Bill Maggs (National Pronto Association), Brian
Evanoka (Uni-Select), Jim Snipes (Standard Motor Products) and Todd
Campau (IHS), has looked at the need for safety inspections in the
aftermarket over the past eight months. We focused on how industry-wide
collaboration could provide much needed safer cars on the road for
consumers, as well as tap into some of the $66 billion of unperformed
maintenance.
Through it all, the relationships we’ve built have been the most beneficial aspect of the program.
I’m
sad to see the week end, but I am so thankful to my company, Automotive
Aftermarket Suppliers Association (AASA), for the opportunity to
participate in Leadership 2.0. I can’t wait to see what the rest of the
week brings!