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b'Dan Taylor uses emotional intelligence (EQ) as a platform to understand why organizations struggle to meet their gross profit goals. He emphasizes the importance of understanding and managing emotions in order to build trust with clients and achieve GP goals. He also emphasizes the importance of balancing empathy with financial responsibility in the automotive industry.\\n

Dan Taylor, Senior Business Advisor, Transformers Institute

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• Watch Full Video Episode
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• Protecting Gross Profit [00:00:43]\\xa0Dan Taylor discusses how emotional intelligence can be used to understand why organizations struggle to meet their GP goals.
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• The Importance of EQ [00:01:23]
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• Identifying the Problem [00:03:02]
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• The Three Players [00:03:41]\\xa0Dan Taylor explains the three players involved in protecting GP: the individual, the client, and the organization.
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• Triple Win [00:04:18]\\xa0Dan Taylor discusses the importance of achieving a triple win for the client, the organization, and the individual.
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• Emotional Intelligence and the Five Major Emotions [00:07:18]\\xa0Dan Taylor explains how emotional intelligence plays a role in protecting gross profit margins and discusses the five major emotions: mad, sad, glad, guilt, and fear.
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• The Role of Shame and Perfectionism [00:09:04]\\xa0Dan Taylor talks about the role of shame and perfectionism in high performers and how it relates to interactions with clients.
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• Assessing Emotions [00:11:08]\\xa0Dan Taylor discusses the appropriateness, accuracy, amplitude, and longevity of emotions and how to evaluate and understand them.
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• Different Emotions [00:13:19]\\xa0Dan Taylor discusses different emotions that can arise in the automotive industry, including sadness, happiness, fear, and guilt.
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• Client Needs [00:15:31]\\xa0Dan Taylor talks about the importance of understanding client needs, including the desire to be heard, valued, and cared for, and how empathy plays a role in building trust and engagement.
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• Competing on Trust [00:17:03] Dan Taylor emphasizes the importance of competing on trust, relationship, and experience rather than price.
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• Customer Needs [00:20:19]\\xa0Dan Taylor lists the different needs that customers have, such as feeling heard, valued, safe, and educated.
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• Transactional vs. Consultative Selling [00:21:28]
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• Gross Profit and Self-Value [00:22:14]\\xa0Dan Taylor emphasizes the importance of gross profit for the financial health of the organization, and how it relates to self-value and self-worth.
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• Cognitive Dissonance and Pricing [00:24:30]\\xa0Dan Taylor talks about cognitive dissonance and how it affects service advisors\' beliefs about pricing, and how it can be bridged to focus on the relationship with the customer instead of the price.
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• Intersecting Factors [00:27:40] Dan Taylor explains the three factors that intersect to create a healthy environment for protecting gross profit: understanding and controlling emotions, authentic expression of empathy, and balancing workflow.
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• Sabotaging Gross Profit [00:27:40] Dan Taylor discusses common ways that businesses sabotage their own gross profit, including talking too much, failing to adjust the game plan, and not setting expectations with clients.
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• Charge a Fair Rate [00:28:50] Dan Taylor emphasizes the importance of feeling worthy of charging a fair and equitable rate for services provided to clients.
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• Consultative Mindset [00:30:02] Dan Taylor discusses the importance of a consultative mindset in sales and the benefits of relationship selling.
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