Comments on: Pros and Cons of Staying Open

By: Tony Dehnke - 12v.Biz

Tony Dehnke - 12v.Biz — Wed, 25 Mar 2020 02:48:56 +0000

Thanks to everyone who joined in on the call and contributed! Being able to talk with other industry members and work through ideas, get support from each other and have a couple laughs a long the way was truly great! Please let me know about any topics for future calls and let other owners, managers and industry leaders know about the calls and group!

Thanks for the share Amy.

Thanks for the feedback in the comments Tony & George.

By: George

George — Tue, 24 Mar 2020 21:47:38 +0000

I agree with Tony, times are tough and one has to choose what is best for family and those around you.
best regards!

By: Tony

Tony — Tue, 24 Mar 2020 20:23:52 +0000

Insurance will not cover loss of business during this time unless you have a special policy.

Make the decision to close based on your local market versus the sentiment of the New York area. Get employee consensus and evaluate your ability to staff safe.

Start saving and cutting expenses now. Suspend all non essential services. Target to reserve one month of operating capital.

Develop plan A and B for reduced schedules (payroll) and limiting hours of operations. If necessary close one or two days per week (slowest days).

Use this time to catch up on projects or low cost renovations, things you always wanted to do but didnt have the time.

Are there opportunities that you can take advantage of. Good time to join networks like InstallerNet and other services to drive new business.

Start thinking about the come back. Dont try to figure out when it will be but what you will need to do to keep up with the demand. Have a plan.

If you have done all of the above then congratulations and good luck!