You know, one of the things I love most about this industry is that every leader has a story—and today’s guest, Damon Lester, has one of the most unique I’ve ever heard. Imagine stepping into the world of auto dealerships before you’ve even set foot inside a dealership. Yeah, you heard that right. Damon went from the world of accounting to becoming the owner of Nissan Bowie and long-time chairman of NAMAD, and his journey is nothing short of incredible.
In this episode, Damon and I dig deep into what it takes to lead in an industry that’s been through its fair share of challenges. We talk about how he accidentally found himself in the automotive world, the life-changing lessons he learned from working overseas in post-Soviet countries, and why diversity in leadership isn’t just a checkbox—it’s a key driver of success.
Damon’s insights on navigating the complex world of dealership ownership, especially as a minority dealer, are something you don’t want to miss. We also dive into how the auto industry has shifted from having to embrace diversity to wanting to, and what that means for the future of dealerships.
Key Takeaways:
- Diversity Drives Success: “When we are given opportunities, we tend to over-index, outsell, and outperform.” Damon points out that dealerships with diverse leadership tend to perform better, as minority owners often invest themselves fully in their communities and their businesses.
- From Obligation to Desire: Over the past 20 years, the automotive industry has shifted from including diverse voices because it “had to” to embracing diversity because it “wants to.” This cultural shift has helped NAMAD play a vital role in expanding opportunities for minority dealers.
- Service is the Backbone: In an industry where new car sales are declining, Damon underscores the importance of service and fixed operations as the key to profitability, especially in tough economic times.
- Retention in a Consolidating Market: The consolidation of dealerships, while posing challenges, also offers an opportunity for minority dealers to gain a foothold. Damon emphasizes the importance of customer service as the differentiator that smaller, minority-owned dealerships can leverage against larger, corporate-owned entities.
- Mentorship Matters: Damon is passionate about growing the next generation of minority dealership owners. NAMAD’s Leadership Academy provides aspiring owners and general managers with the tools they need to succeed in a competitive, ever-changing landscape.
A Glimpse Into the Episode:
“People are people, no matter where they come from,” Damon shares, reflecting on his time overseas. This insight serves as a foundation for his leadership at NAMAD, where fostering diversity isn’t just a goal—it’s a necessary ingredient for success in the automotive industry. Whether he’s discussing the challenges of dealership ownership or the cultural nuances of buying a car, Damon’s insights are both profound and practical.
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