Survival Tactics – Covid-19 with Chris Cloutier and Dennis McCarron [RR 521]
Chris Cloutier is co-owner of Golden Rule Auto Care in Dallas Texas and CEO of Auto Tex Me. He spent many years in the software industry developing solutions for companies like Southwest Airlines, and Wyndham Intl. He’s worked for companies that understood the marriage of service and software, and have applied it in an effective way. Chris has his ASE C1: Automobile Service Consultant Certification Test (C1). He brings the business side to the business and his brother Pat brings the Braun. Chris is also a musician. Hear Chris’s previous episodes HERE.Autotex.me website HERE.
Dennis started his career Bridgestone/Firestone working in various sales and management level positions prior to leading the national retail management training programs. Most recently, Dennis was the Executive Director of Dealer Strategic Planning Inc. (DSP 20 Group), providing coaching and consulting services to its members.
With over 25 years of experience in the tire & automotive industry, Dennis is a seasoned professional with vast tire and auto service industry experience. He is also a featured columnist for Modern Tire Dealer, “Business Insights”
Dennis continues to teach workshops around North America to tire dealers from financial acumen to behavioral selling and leadership and coaching skills. Hear Dennis's previous episodes HERE.
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.” ― G. Michael Hopf
We are in hard times and it should create hard and smart people.
We need to think about the future and cash reserves
Many businesses that were on the brink of closure will find this pandemic their end
We are living in a history class
We’ve gotten away from saving money. We are living paycheck to paycheck and for businesses, a zero cash position will not help the business sustain
Chris was having a great first quarter vs 2019
The economy will slow down
Tell your people that times are uncertain.Communicate with your people and customers
Have plans for short, medium and long term
Money needs to keep coming in
If it stops employment cannot be sustained
Use your logic mind to make decisions not your anxious or emotional mind
Know your numbers. This is the time to know your numbers and how to adjust them.
Review all expenses and categorize or prioritize them. Necessary and not necessary
Closing can help preserve cash to help you re-start to inject business with cas
Offer your customers a touchless experience, text to pay, DVI reports. Customers may not want to spend money, especially with layoffs
You’ve got to set up stages of plans. It may get worse than better. PLANS NEED TO BE FLUID
We need to have a one month, two month, three month plan. Maybe even longerCreate a ‘What If’ scenario on a spreadsheet
It should change often depending on sales and the condition of the marketplace and government-mandated rules
Pay attention to your business and the marketplace
On average a typical shop is only putting 3¢ of every dollar sold into net profit.
Every $1 of expense cut goes into net profitLook at every line item
Talk to your landlord
Your biggest asset is your employees. Cut other costs and your people lastHours or positions must be the last to be cut
“I give my employees too many chances. I love my employees.” Gary Vaynerchuk
Create a video with your smartphone that shows the precautions you are doing
Offer a touchless transaction
Assure your customer that you are protecting them and your team
You are an essential service. Tell them
You have power as a small business owner to change
NAPA AutoCare’s recent partnership with CarVantage gives your AutoCare Center an easy way to take advantage of telematics, increasing customer retention and boosting customer spend. You provide customers with a CarVantage sensor that plugs into their vehicle and connects via Bluetooth to their smartphone. Then you set up automated marketing campaigns that target customers based on their vehicle’s next maintenance interval, for example, or whenever a check engine light is detected. That gives customers peace of mind and the best experience in the market. They also love CarVantage because it’s free to them. A special offer only for NAPA AutoCare Centers lets you give CarVantage a try at a very affordable price. And it includes free sensors. Other plans and enhancements are also available.
Learn more about CarVantage and the hundreds of other benefits NAPA offers. Talk with your servicing NAPA store or visit www. NAPAAutoCare.com