JACK WELCH LAYS OUT PATH OF SUCCESS TO DEALERS

Ultimate motivator: Business guru Welch

February 5, 2007—Jack Welch, who led American business giant General Electric for more than a quarter of a century, related to dealers that the team that fields the best players wins. And he extolled them to raise the bar—to get better players and keep them with candor, face-to-face meetings, and by letting employees know where they stand.

Leadership, Welch said, is composed of energy, the ability to energize others, keeping the edge, and having the ability to execute and the passion to succeed, but “never give anybody a raise or bonus without something in writing and only face-to-face.” Staffers need to be nurtured, because turnover in business is a killer, Welch noted.

Welch advised dealers to get the best employees, keep them happy, and have excellent working conditions. Happy employees equal success, productivity, and profitability. Product, he added, is only 15 percent of the mix; service is 85 percent.

Today the American market is great, at its highest point ever, noted Welch. Demonstrate that your employees are your most important asset and make your business the place of choice for both staffers and customers. “You will win,” he predicted.

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