Surviving an Economic Downturn [THA 165]

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Remarkable Results Radio Podcast

Business


https://youtu.be/ebd49UiLemc Ron Ipach, co-founder or Repair Shop Coach, has helped over 5536 auto repair shop owners to get and keep all the top-quality customers they can handle. Marketing auto repair services are all he does. He lives, eats, and breathes it every day. He has seen, heard, and tested practically every kind of marketing there is out there today. He’s examined the results. He’s tweaked and tested dozens of strategies over and over in order to maximize their results. Because Ron has personally worked with so many shop owners over the years, he has the distinction of being the only person in the world that knows exactly what marketing works, and what doesn’t work for auto repair shops in today’s economy. He finds passion in amplifying time & freedom for his clients while helping them take back control of their businesses. Find Ron's other episodes (https://remarkableresults.biz/?s=%22ron+ipach%22) . Maylan Newton from ESI – Educational Seminars Institute is a business coach, trainer and industry speaker. Maylan is no stranger to the podcast having paid it forward many times. He is a much sought our speaker at industry events in the US. Find Maylan’s previous episodes  (https://remarkableresults.biz/?s=Maylan+Newton) . Chris Cotton utilizes the Profit First method of cash management. He is trained and certified by the Profit First Professionals organization to guide business owners and entrepreneurs in maximizing their profits. AutoFix is the first and currently the ONLY auto repair shop specific coaching company, nationwide, that has achieved certification in Profit First. Chris Cotton has been in the customer service industry for over 40 years and has been in the auto repair industry for over 25 years. He is a former shop owner that has dedicated his life to helping YOU to get your business where you want it to be and helping you FOCUS on the things that matter to you. Find Chris’ other episodes  (https://remarkableresults.biz/?s=Chris+Cotton) . Talking Points: Coaches are asking to rely on them for guidance more than ever Coaches are talking to shop owners who may not even be their clients to help them Coaches are feeling fearful. It is time to be optimistic Some coaches wisdom is not coming true for many clients Closing even for a week does not save you on fixed costs Time to be lean and meanTighten up your spendingReview your spending habits or disciplines Do you need every expense item If you spend it should help make you money Cash is KingFour to six months of costs saved to sustain your business We are in a ‘recession-proof’ industryWe must weather cash flow issues Market AlwaysSpend wisely on marketing in good times or bad There are many tactics but few strategies. We sometimes try new things so often that we lose track of the overall strategy of growing and keeping customers. Your current database should be locked into you. Caged!  Be nimble and make decisions and learn from what works and what doesn’t The fear factor and emotional factor are real and logic and facts must rule Don’t lower your price or discount or lower your labor rate. These are emotional, not logical decisionsThe fear of the what if’s may build a defeatist attitude You believe you need to do these things but look carefully at your demographic, your market and your business Don’t do something because one person said something What if there is free diagnostics but the customer cannot afford the diagnosis Help people out if you have the ‘Cash’ to do it. If you don’t it is tough to give what you don’t have There is alternative financing available There will be a slowdown in car count, but you may see an increase in average ticket because you have more time to look at the vehicle Don’t:Cut back on your marketing budget Buy the latest piece of equipment Hold...