A perfect world suggests that there are 16 personality types, of which the Entrepreneur falls into the Explorer category.

Explorer-type entrepreneurial personalities are usually smart, energetic, and very perceptive people, who truly enjoy living on the edge.

Entrepreneurs loathe being micromanaged and restricted by heavy-handed rules – they want to be seen as highly independent masters of their own fates and their management style also reflects this. They would give a broad outline and then expect their employees to be able to connect the dots.

Some entrepreneurs set out to grow: build a team, gain market share, increase revenue and maybe cash in by selling their enterprise. Others strive not for growth, but for independence.

There are many reasons to stay independent - keeping flexible hours, writing your own pay cheque, calling all the shots. Similarly, there are just as many methods for sole proprietors to stay autonomous, profitable, and maintain work satisfaction. The key is to know your personal and professional priorities, and use them to define the way in which you manage your business.

The biggest motivation for dealers to remain independent is freedom. Freedom of choice and freedom of association. Sometimes this independence is put under pressure by the business decisions you have to make. The recent changes in the FAIS Act is a perfect example. You, as the Dealer, will have to decide on a compliance model that ensures your independence and allows you to select product and insurance suppliers of your choice.

There have been many developments in the insurance industry since the implementation of Section 13(1)(c) of the FAIS Act and the foreseen impact of the Retail Distribution Review (RDR), as well as the looming implementation of Twin Peak Model, on the motor industry.

Now, more than ever, the motor industry is inundated with offerings where the choice of FSP is concerned. Some of the major players in the insurance industry are even bringing these offerings for free.

As we all know, there is no “free lunch” and these offerings normally entertain an exclusivity clause or, at best, a first right to insurance or finance products provided, included in the contract. This offering will tie you, the independent motor dealer, to a particular insurance company and their limited product offerings.

The danger of entering into such an agreement is that you commit to selling one set of products which, in turn, limits your offering to your clients. The risk of being tied to one provider rests in the fact that the provider may become complacent as there is no need to innovate and compete with other providers for your business. The provider’s business model does not necessarily match your business model.

Just as it would be unwise to tie yourself to a single bank to provide financing for your deals, it would be equally unwise to go the similar route with your choice of FSP.

It makes perfect sense for a company to register as a single tier FSP, if they would only be selling their own products. As for an independent dealership, this kind of arrangement will tie you down to limited products and product offerings.

In practice this also means that if you are dissatisfied with your product supplier, you can only change once you have changed your FSP. That is, if your current FSP does not have an agreement in place with your new product supplier of choice.

Be the free agent you need to be
Self-employment can be exciting and lucrative, with ample opportunity to meet – and even exceed – your personal and professional goals. When you know what you want from your business and for your life, you can craft a solo career that works for you.

The “I” in independence is a non-negotiable.

Sales and trends within the IDA environment for November 2015.

Top 5 passenger vehicle sales per manufacturer
VOLKSWAGEN
TOYOTA
FORD
BMW
NISSAN

Top 3 commercial vehicle sales per manufacturer
RANGER 2.2TDCI XL P/U D/C
NP200 1.6 P/U S/C
UTILITY 1.4 A/C P/U S/C

Top 10 derivatives sales
FIGO 1.4 AMBIENTE
POLO GP 1.2 TSI COMFORTLINE (66KW)
COROLLA 1.3 PROFESSIONAL
POLO 1.4 COMFORTLINE 5DR
POLO VIVO GP 1.4 TRENDLINE 5DR
POLO VIVO 1.4 TRENDLINE 5Dr
RANGER 2.2TDCI XL P/U D/C
POLO VIVO GP 1.4 CONCEPTLINE 5DR
NP200 1.6 P/U S/C
POLO GP 1.2 TSI TRENDLINE (66KW)

The average age of vehicles sold in November was 3.30 years.