CarmCast 064: Virtual Coffee Talk ‘Business as Un-Usual’

Join in Live. Bring your coffee and talk about how you are doing business as unusual

• Bill Haas, Hass Performance Consulting
• Tom Ham, Autocentric and Automotive Management Network, Grand Rapids, MI
• Greg Skolnik, Motor Works, Rockville, MD
• Bill Nalu, Interstate Auto Care, Madison Heights, MI

 Talking points:

• Some back-office workers aren’t at work. They can work remotely
• Some states have loans and grants
• Greg Skolnik is applying for SBC application. He is getting in line and does not know where it will go
  • He wants to look at all options
  • If you apply for the loan, you may not know what you will get
• Line of credit is an option
  • You usually get a line of credit when you don’t need the money
  • Banks offer lines of credit based on the strength of your financial position
  • Once your financial strength is strong (you’ve prepared) apply for a line of credit with your bank
• Don’t attach yourself to the negative vibes coming out. Don’t be part of the fear-mongering
• Consider getting debt free going forward that will allow any economic downturn easier to absorb
  • Consider Dave Ramsey Financial Pease University to help get yourself out of debt
• Work with your local businesses to help the community
• Follow the most common sense guidelines
• Too many people ignoring the do-right rule.  Covid-19 must be taken seriously
• Is your waiting room open or closed?
  • Bill Haas does not believe in waiters
  • Tom Ham does believe in waiters
  • Bill Nalu believes in waiters
  • They all believe there can be a touchless relationship as Covid-19 continues
  • Protecting your people is very important
  • Waiters are there to leave.
    • Must disinfect and wipe down the waiting room
    • There is more to wipe down than to worry about your waiting room
    • It is difficult to sell to waiters
• Touchless
  • Pick-up keys in a lockbox
  • Pay to text is a great option
• We are adjusting to the abnormal. Each day is different
• Parts delivered to a special table or place where the delivery person does not enter to deep in your space
• Expense review. Two columns. What you must pay and what you can ask for time.
  • Talk to your landlord and ask for some relief
  • Insurance’s of all types need to be paid on time
  • Communicate with any creditor before you decide not to pay them. Tell them you are there and doing business
  • Follow all conversations with your creditors with a letter. Keep in front of all creditors
  • If you have cash reserves you can spend them wisely to keep your staff
  • Your business interruption insurance may not cover what we are going through now
    • Look carefully at your next renewal
• Don’t lose sight of a continuing strong marketing plan
  • If you are open you need to tell your customers and market
  • Don’t let your customers assume you are open. They will think you are closed
  • We are open, how can we serve you
  • Make phone calls to every client
• Plans need to be made. Must be fluid and over-prepare. You need a plan for two weeks out, 30 days out and 45 days out. They are dynamic and will change
• Tom ham is optimistic and sees a huge opportunity ahead
  • It will not be behind us until the vaccine is out.
  • We need to learn how to live with it
• We need to find the opportunity in explaining to our customers that they don’t need the car debt but need to fix their vehicles
• Grek Skolnik schedules appointments like the dentist do. It works for him and smooths his forecasts
  • People are not hibernating, but he has conditioned his customers to come in for scheduled work/maintenance
• What is an optimist, today?
• Caution:
  • Some shops will close. It may be the best thing to do for their business. They will re-open when it is time. Some may close for good
  • The decisions you make are for the good of you, your family, your people, your customers

Listen to Text to Pay Episode Here.

https://disasterloan.sba.gov/ela/information/index