Closing Remarks Podcast: Scott Fink on Success & Relationships

How do strong business relationships and bold leadership turn a struggling dealership into a nationwide success story?

In this episode of Closing Remarks, Dara Shareef talks with Scott Fink, the Chairman and CEO of Giant Auto Group–Fink Auto Group, about the business relationships, leadership, and bold decisions that formed his success in the automotive industry.

Scott shares how he helped transform a struggling Mitsubishi dealership into the number one Mitsubishi dealership in the nation within three years, then went on to build a Hyundai dealership that became the number one Hyundai store in the country, earning the top spot 12 times. Along the way, his automotive portfolio expanded to include Metropolitan Ministries, Subaru, Toyota, Mazda, Chevrolet, and Genesis.

Throughout the conversation, Scott shares how building strong business relationships, putting relationships before transactions, and choosing to “come out and fight” when competitors pulled back helped drive his success and create lasting opportunities.

Key Highlights

• How Scott Fink built some of the nation’s top-performing automotive dealerships by putting relationships ahead of transactions
• The leadership mindset behind the “leave the foxhole” philosophy, and why taking action when others retreat can create opportunities
• Practical lessons on preparing a business for sale, negotiating deals, selecting advisors, and structuring earnouts
• Why planning for life after an exit is just as important as building a successful business

Watch, Listen & Learn Before You Lead

When Scott purchased his first dealership, he wasn’t pretending to know everything. Instead, he:

• Watched before making changes
• Learned from the nation’s top-performing dealers
• Implemented proven best practices
• Built a team of like-minded people centered on customer service and shared values
  

Taking time to learn from businesses before changing them became a key part of his leadership philosophy.

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Build Relationships Create Long-Term Value

Although automotive retail is traditionally considered a transactional industry, Scott built his dealerships around different philosophies:

• Favor relationships over margins
• Turn satisfied customers into advocates for your business and brand
• Build loyalty that competitors cannot easily replicate

Even if it meant making less on one transaction, building trust created repeat business, referrals, and long-term loyalty.

Leave the Foxhole: Leading During Uncertainty

“We can go in the foxhole, and we can hold up here and wait for this thing to pass. But what happens when you go into the foxhole? Typically, the enemy will find you and kill you. So, you might as well come out and fight.”

Fink and his team chose to fight. Rather than pulling back during the recession, Scott challenged his team to keep moving forward. He asked them to invest in customer relationships and pursue market share, while competitors stood still.

The strategy paid off. Monthly sales grew from about 180–200 vehicles to nearly 350. It also built customer relationships that lasted well beyond the recession.

This is an important lesson in the automobile industry and in any industry. Uncertainty frequently creates more opportunities for leaders to act while others hesitate.

Protect Yourself During a Business Sale

One of the biggest business lessons Scott learned came during the sale of his very first dealership.

Just before closing the deal, the buyers slashed the price by $1 million. Scott had to accept the cut or walk away.

He learned the following four lessons from this experience

• Be ready for last-minute negotiations
• Address pricing concerns early
• Be emotionally prepared during the process
• Nothing is done until everything is signed

As Scott says, “If there’s any thought of a haircut, let’s talk about it now because the deal is dead.”

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He also stresses the value of surrounding yourself with experienced advisors who understand complex transactions.

Understanding Earnouts

The earnout in Scott’s first deal was for one year and based on profits. Scott completed 100% of his earnout because he had control over his business. In retrospect, he feels that the seller should plan the earnout in any deal using parameters the seller can control.

This episode explores the financial and emotional realities sellers face after selling their business.

Preparing for Life After an Exit

Scott retired at age 37, but only for 10 days. Once Scott swapped his business suits for khakis and polo shirts. He quickly learned that people sell early retirement as the ultimate goal. But without a plan, it was not the life he expected.

The experience confirmed that preparing for life after a business exit matters as much as planning the transaction itself.

He encourages entrepreneurs to prepare for:

• A shift in identity
• The emotional adjustment after an exit
• Entrepreneurs suddenly having "a pile of cash" after selling their business
• Losing the day-to-day purpose of running a business
• Creating a meaningful next chapter

As Scott puts it: “Retirement without a plan is not freedom.”

Host Dara Shareef links this talk to a past episode with Blake Poole, Managing Director at Bernstein Private Wealth. He introduced "sudden wealth syndrome," the emotional and financial transition many entrepreneurs face after selling a business. Scott shares why having a plan, resisting the urge to make major financial decisions immediately, and finding purpose are important for a successful transition.

Building a Legacy Through Service

Through his family foundation, Scott and his wife support programs in education, health care, and hunger relief. They work with groups like BayCare, Metropolitan Ministries, St. Joseph’s Children’s Hospital, and Meals on Wheels.

To Scott, philanthropy is more than writing checks. It entails investing your time, leadership, and experience to create lasting impact.

Scott says, “Success isn’t measured by the size of your bank account. Love and kindness should guide both your business and your life.”

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Where to Watch

Building a business? Contemplating a sale? Managing your team or legacy? This episode features someone who has built, sold, and successfully grown businesses, all while giving back to the community.

Watch or listen to the full episode of Closing Remarks, featuring Scott Fink and host Dara Shareef, on Spotify, Amazon Music, Apple Podcasts, and YouTube.

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