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Remarkable Results Radio Podcast - Carm Capriotto, AAP EPISODE 6, BONUS EPISODE, 25th March 2020
Covid-19 Aftermarket Panel Discussion ‘Business as Unusual’ [Bonus 06]
00:00:00 00:44:41

Covid-19 Aftermarket Panel Discussion ‘Business as Unusual’ [Bonus 06]

Panel:

  • 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 goHe 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 optionYou 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 absorbConsider 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
  • TouchlessPick-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 nowLook carefully at your next renewal
  • Don’t lose sight of a continuing strong marketing planIf 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 aheadIt 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 forecastsPeople 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

Resources:

  • Thanks to Bill Haas, Bill Nalu, Greg Skolnik and Tom Ham for their contribution to the aftermarket’s premier podcast.
  • Link to the ‘BOOKS‘ page highlighting all books discussed in the podcast library HERE. Leaders are readers.
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