Deal Pack Blog

What is a 20 Group?

posted on: August-16-2012
by: Deal Pack
category: News

Benjamin Franklin first used the 20 group concept when he created the Junto Society back in 1727. Franklin convinced 12 of his close friends to form a “club” dedicated to mutual improvement. The group would meet once a week to discuss topics of the day, politics, business ideas and mutual improvement. Franklin wrote “The rules that I drew up required that every member, in his turn, should produce one or more queries on any point of morals, politics or natural philosophy, to be discussed by the company; and once in three months produce and read an essay of his own writing, on any subject he pleased. Our debates were to be under the direction of a president and to be conducted in the sincere spirit of inquiry after truth, without fondness for dispute or desire of victory; and to prevent warmth, all expressions of positive opinions or direct contradiction, were after some time made contraband and prohibited under small pecuniary penalties.” The idea goes way back; however, the 20 groups related to BHPH are quite different than what took place in the 1700’s in the Junto Society, but they share the same goals of mutual improvement, sharing and camaraderie.

 

Buy Here Pay Here (BHPH) 20 groups are comprised of dealers who meet 3 to 4 times a year to exchange best practices cost saving tips, techniques, processes and procedures. It is the ultimate Dealer to Dealer networking experience. Typically a 20 group is made up of dealers that do not share a common geographical market to create some diversity and inspire new ideas among your cohorts.

 

Some 20 group topics you may see in discussions:

 

Vehicle inventory
Reconditioning
Aging
Advertising
Aftermarket products
Financing
Collections policies and procedures
Delinquency percentages
Employee Productivity

 

NCM is one of several 20 Performance Groups out there. They offer many different services in regards to networking and driving profitability. Members usually receive a monthly composite of comparative statistics compiled from a reporting form submitted by each member. They are now also offering “FIDO” which is an online reporting tool that will allow you to track your financial performance from your PC, iPhone, iPad or Blackberry.

 

For more information visit: www.ncm20.com, www.twentygroups.com,

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