Headline of the Day: Better-Late-Than-Never Category
BULLETIN: U.S. economy entered recession in December 2007
Headline of the Day: Fiddling-While-Rome-Burns Category
Couple Buys ‘New’ 16-Year-Old Tires
Headline of the Day: Disregard-What-We-Said-Before Category
Michelin Views Run-Flats Merely as Niche Product
Knowledge Is Power
I want to create a scenario about three guys who decided to open a trucking company. Each of them had a truck and each was responsible for the tires on his own truck. Their names are Paul Abelson, Al Cohn and Asa Sharp, names that might be familiar to you if you read trucking magazines.
Making Deep Cuts
Instead of reducing yourcompany’s overall budget by incremental amounts, try a new approach to costcutting, one that is more expansive in nature. Reduce the budget to anextremely low level all at once and require all of your employees to stick toit. Theoretically, this willforce your staff to find creative ways to operate within a set
Avoiding Audits
Though the IRS randomlyselects returns for audit review, it will tag certain returns because of“suspicious information” or deductions. To reduce your business’ risk of beingaudited, avoid these common IRS red flags: • Incomplete or inaccurateincome reports • Unusual or above-averagedeductions • Business losses,especially tax losses. If you decide to takelegitimate deductions for business losses, keep
Partnering For Success
Options for teaming up withother small businesses run the gamut. They can range from informal referralnetworks to legal partnerships. Where your dealership falls on the spectrumdepends on how much effort and commitment you want to devote and how muchautonomy you’re willing to give up. Consider partnering withsomeone to grow your business if you want to:
Importance of Training
Educating your employees isnot only extremely important for your dealership’s regular business operations,it’s also expected by customers, who are paying for knowledgeable service.Remember, as an independent tire dealer competing with the big-box stores, youradvantage is in your knowledge and expertise. And study after study has shown thatconsumers rely on tire dealers for recommendations. Providing periodic,specially
Getting in the News
Did you just get a hot newtire in stock? Are you offering a car-care clinic? Are you offering a specialdeal on a set of new tires? Let the media deliver your message for free. The best way to drive mediaattention to your tire dealership is to send out a press release. Thoughthere’s no guarantee a
Make New Friends, But…
You know the old saying: “One is silver and the other is gold.” While it’s always smart to prospect for new customers, don’t forget the ones who have purchased tires or services from you in the past. Remind former customers that you exist and give them a reason to pay you a visit. If possible,