FEDA NEWS & VIEWS
THE CHAIRMAN’S MESSAGE
Accelerating Growth Trough Mentorship
FEDA’s peer-to-peer mentoring program will help newer dealers identify the practices and knowledge they need to take the next leap forward.
In the foodservice equipment and supplies industry, experience is one of the greatest assets. Those of us who have been in the business for decades, or who are leading well-established companies, have built proven processes, refined
our operations and developed resources that allow us to manage projects and support customers with greater efficiency and effectiveness. From tracking job costs and scheduling equipment deliveries to coordinating with customers and channel partners to avoid bottlenecks, we’ve learned what works and what doesn’t. But for newer and growing dealers, these frameworks, knowledge and strategies aren’t always readily in place.
Without these established systems, newer dealers can sometimes struggle to take their business to the next stage. The challenge of growing a dealership can be overwhelming, and no business leader should have to figure out all the answers by themselves. That’s why FEDA is launching the Dealer Growth Accelerator Mentoring (DGAM) program this year. The program will help to bridge the knowledge gap by connecting newer dealers with leaders at more established companies who can offer personalized guidance, hands-on support and a roadmap for sustainable growth. Mentors will share real- world knowledge in areas that make the biggest difference to our businesses, such as sales and customer engagement, technology and business innovation, operational efficiency, and supply chain management. FEDA introduced the concept of peer-to-peer mentoring at the Emerging Dealers Council meeting in March, which
“The challenge of growing a dealership can be overwhelming, and no business leader should have to figure out all the answers by themselves.”
featured conversations with the heads of two of the most successful dealers in the industry: Dave Stafford, president and CEO of Stafford-Smith, and Jameel Burkett, president and CEO of Burkett Restaurant Equipment & Supplies. The pair talked about the decisions that led their businesses to grow, and they shared information about practices that help their companies work more effectively. The DGAM will build on these initial efforts by providing newer dealers with a structured mentor-mentee experience designed to produce an immediate impact on their business, as measured by revenue growth, increased customer satisfaction, reduced operational costs and other key metrics. FEDA has also set up new groups, the DGAM Steering Committee and the DGAM Accelerator Planning Work Group, to further drill down priority mentoring areas and ensure the program is transformative for mentors and mentees. Whether it’s improving financial management or identifying ways to continuously emphasize value to customers, having a trusted and experienced mentor can help companies accelerate their growth.
If you’re an experienced dealer, I encourage you to participate and share your knowledge when the program launches later this year. For newer dealers, this is an unmatched opportunity to learn from those who have walked this path before. I look forward to seeing the DGAM take shape and witnessing the incredible growth it will inspire throughout the industry.
Marc Tell is the chief executive officer of Sam Tell Companies and the chairman of FEDA’s Board of Directors.
4 FEDA News & Views
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