Joined: 15 May 2007 Posts: 774 Location: Baton Rouge, LA
Posted: Wed Dec 10, 2008 1:56 pm Post subject: Thoughts on Prospering in The Coming Times
One need not go very far to hear doom and gloom. Businesses failing, others being [temporarily?] bailed out. There is also another side to the coin. There is a market, a number of folks that want/need and can afford products and services. The size of that market does not substantially change because providers fail. For instance, when Studebaker, Packard, Hudson, Nash, Willis or any of many other businesses failed, those that survived merely gained market.
The ramification for smaller business is the same. As less efficient businesses fail, more efficient businesses will gain market. Employees may be displaced, but will relocate. Vendors will provide material to new clients and on it goes. Businesses that can provide value and demonstrate that to their clients, have an opportunity as long as they can communicate their abilities.
As stated many years ago: "If you can keep your head when all about you Are losing theirs and blaming it on you; If you can trust yourself when all men doubt you, But make allowance for their doubting too; . . . If you can meet with Triumph and Disaster And treat those two impostors just the same . . . Yours is the Earth and everything that's in it."
Joined: 04 Sep 2007 Posts: 47 Location: Grand Rapids, MI, USA
Posted: Sun Dec 14, 2008 6:20 pm Post subject:
Louis:
Consider the following:
-Decreasing number of service bays as dealers and shops close
-Increased age of used cars due to collapsed car sales
-Accumulating number of repairs when business gets slow (the cars don't stop breaking)
-Dropping gas prices, maybe to $1 a gallon
-Possibly more stimulus checks coming (2nd quarter 2008 was our best quarter in years as the checks arrived).
All this adds up to a dam of car repair demand in the not too distant future. The trick, if one is in a slump right now, is to survive until the dam breaks, then be ready to act fast when it does. Now is a great time to clean, organize, do maintenance, get more efficient, plan, etc.
_________________ Tom Ham
AutomotiveManagementNetwork.com - Hams Management Systems
Joined: 15 May 2007 Posts: 774 Location: Baton Rouge, LA
Posted: Sun Dec 14, 2008 6:24 pm Post subject:
Tom Ham wrote:
Louis:
Consider the following:
-Decreasing number of service bays as dealers and shops close
-Increased age of used cars due to collapsed car sales
-Accumulating number of repairs when business gets slow (the cars don't stop breaking)
-Dropping gas prices, maybe to $1 a gallon
-Possibly more stimulus checks coming (2nd quarter 2008 was our best quarter in years as the checks arrived).
All this adds up to a dam of car repair demand in the not too distant future. The trick, if one is in a slump right now, is to survive until the dam breaks, then be ready to act fast when it does. Now is a great time to clean, organize, do maintenance, get more efficient, plan, etc.
Hi Tom,
These are my thoughts as well. I think a shop will need to survive, short-term and become a much better manager, long-term. My experience is, the former also requires the latter.
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