During this uncertain time, know this — YOU ARE NOT ALONE. We share a connection with thousands of dealers across the country, and the world, who are having an experience similar to yours. Everyone is asking the same questions; questions that begin with, “Should I…”, “Can I…”, and “How do I…”
We are navigating through this together. You are not alone.
Stay connected.
* Connect with other dealers. Having candid conversations about the struggles we are facing and hearing creative solutions to solving them is more than therapeutic. It is a practical path to positive resolve.
* Stay connected with your local authorities. Keep an open dialogue about how you can best serve the community, and work within the confines of the law and safety directives. Remain up to date regarding what is going on in your specific area and talk to those who know.
* Rely on those who are on the front lines of information. The associations in your industry, the trusted sources of news and information and yourself. Yes, you need to stay personally informed by reading, researching and connecting with those who know.
Know that help is available.
From a financial perspective, the government has rolled out several relief plans that you should take advantage of. Don’t dismiss them without finding out more. Our experience to date has been that they are easy to navigate and have great benefit to the small business owner. Here are three that you need to be fully aware of:
*Changes in IRS filings and requirements
https://www.irs.gov/coronavirus
*Paycheck Protection Program
https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
https://home.treasury.gov/system/files/136/PPP–Fact-Sheet.pdf
*SBA Disaster Relief Loans related to COVID-19
https://www.sba.gov/ (click the top yellow bar to begin the application process for the economic injury disaster loan)
Additional resource: Overview of small business loans from the US Chamber of Commerce https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf
Keep your focus.
Our focus, as of today, should be on three key things:
* Your people. Maintaining calm, direction and hope is your goal. Lead your people through this challenging time.
* Maximize the opportunities you have today. By thinking creatively, while working with the established guidelines, you can continue to generate revenue.
* Prepare for the future – which in this case is late spring and summer of 2020! Are you ready to be in full operational mode when the doors are open, and people are walking into your dealership again? Have you established your processes? Do you know how to monitor your numbers and manage your cashflow? Are your people trained and ready to maximize the season ahead? Now is the time to train yourself, and your people, and prepare to have a great second half to 2020.
If we can assist you, please don’t hesitate to reach out. Our industry is strong. You are strong and you are not alone.
