Planning for the new year might seem especially daunting given the rollercoaster of 2020, but Mike Brown says this isn’t the time to wing it. “You don’t want to throw out strategy when things are uncertain.”
With more than 30 years in the tire industry – including 28 operating Tire Source, an Akron, Ohio, area-based dealership with six locations across northeastern Ohio – Tom White has lived through a number of significant market developments, from the rise of big box retailers to the launch of tire manufacturer-owned e-commerce platforms and most recently, the economic shock of COVID-19.
Some days, it may seem like you were busier than all get-out, but you didn’t make any money. Other days seemed slow, but you were stunned at how much cash you generated. Sometimes the retail world doesn’t make any sense, does it?
Who typically sees more cars in your shop on a typical day: a master mechanic or a lube/tire tech? I’m sure you recognized that it’s your lube or tire tech. Now, think of the impact on your business when this person is performing at a high and consistent level.
Amid this pandemic, you have an extraordinary opportunity to re-boot your business in a fundamental way — by truly putting the customer at the center of your culture. There are quick, old-fashioned methods to provide the right touch, even in our new no-touch world.
As a business owner, you understand the importance of managing and protecting your tangible assets, such as property, inventory, equipment and employees. But what about the assets that lack a tangible cost or value?