With the current news and social media pumping your paranoia about the outbreak and the restrictions set in place, everyone is panicking
(when there’s no need to be) Stay healthy, rest and eat well. Stay indoors as much as you can, wash your hands and practice basic hygiene 1) There’s always opportunity in every bad situation Warren Buffet once said “Be fearful when others are greedy and be greedy only when others are fearful” Business is booming right now in some of the industries like medical, marketing, grocery, etc The pandemic is cleaning up the economy - it’s weeding out those who can’t pull themselves through and the strongest one will get ahead of the game Let the fly-by-nights die, and the pros live Detailing should be considered as an ESSENTIAL business in this pandemic, as it sanitizes your customer’s vehicle keeping it clean and detailing services should fall under auto services (even though it’s not stated officially) Check out the press released by International Detailing Association here 2) Golden opportunity Now it’s the time to go harder than ever before Everyone is staying home with their eyeballs glued to their screens, ad cost has dropped significantly and now it’s the PERFECT time to put your business out there Start doubling down on interior detail & protection, angling your message more towards prevention and peace of mind of the virus Then upsell to exterior detail/protection when you’re working on your client’s car 3) Cash reserves This pandemic should teach you a thing or two about having solid cash reserves. Cash is king in recessions like this If you’re a mobile, have at least a minimum of $20k cash reserves at all times If you have a shop, have at least $50k-$100k cash at all times In my opinion, any detailers who are running their business without solid cash reserves is going to get their ass kicked by environmental changes like this/their competition Having solid cash reserves allows you to: a) Keep your head in check all the time, and not in a state of neediness when you’re talking to a potential client b) Rock-solid confidence c) Weather through a storm like the current coronavirus pandemic we’re facing 4) Shut the doors, pull the curtain and focus Turn off the TV, shut off your social media, and go hard on your business. Don’t listen to the news and media too much to keep yourself sane. There are more to just detail, there’s the entire backend side of business you can work on (which most detailers neglect) like branding, sales, admin, rearranging supplies, marketing, systems etc If you’re being forced to shut down for the time being in your city, time to restructure and think long term for your business If you’re still able to operate, the show goes on and it’s time go harder than you were already before If you need help weathering through the coronavirus storm and create a bulletproof strategy for your detailing business, schedule a 45-minute strategy session with me and let’s see how I can help and grow your business with the current pandemic: Click here to schedule your 45-minute strategy session
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Yikhai WongHelping Detailers Scale To $50k+/month Archives
March 2021
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