Find The Opportunities! What Others Are Doing And How One Outfitter Generated $200k Profit During Disruption.
Right now is the time to find the opportunities in your business! I’m not just talking about cash inflows but refining operations.
In this video, I share with you opportunities other owners have shared with me on how they are using this downtime to think creatively, drum up income, improve profitability, and plan for a thriving future.
Also, I introduce a case study on how one outfitter generated an additional $200k during back-to-back disruptions. Others in his area went out of business, but due to some targeted & specific strategies, not only did he survive but he thrived!
Original Transcript
- Right now is the time to find the opportunities in your business. I’m not just talking about sales but I’m talking about refining operations.
- When else have you ever had the chance to shut your doors for a full month and work on your business without any other distractions? It’s a corporate retreat dream!
- I’m going to share with you a few opportunities outfitters across the nation shared with me on how they are using this downtime to generate cash, improve profits, plan for the future, and thrive though this thing.
- Then, I’m going to share with you how a client of mine increase net income by $200k during two consecutive disruption years… I’m going to say that again. With my help, one business, generated an additional $200k in net income during two consecutive massive disruptions that crippled local economies. Yet, with my help, this business was able to thrive and is in a very good place with COVID-19.
- For the opportunities.
- My first and probably favorite opportunity is an outfitter in the Midwest. My boy Jeff, you the man buddy, owns a canoe and campground outfit in retiree capital USA. He is using his vans, trailers, and property management equipment to mow retirees’ lawns. I LOVE this idea for several reasons: 1. It’s generating cash. 2.His busses with his company logo are out in the community. He’s essentially showing his local community that he cares for them and generating cash while doing it. The community will notice and when things open again and the locals are ready return to the great outdoors… Who are they going to call? Jeff! The guys who cut their lawn!
- Second, Kristi a kayak outfitter in Washington called up her insurance companies last week and renegotiated her insurance. This was a single phone call, that in a matter of minutes, saved her thousands during this downtime!
- Third, Brook, an outfitter in central Colorado is working with her team to brainstorm ways to offer trips and services in the fall and winter… When she’s normally closed and recovering from the crazy summer, they are going to consider using this as an opportunity to generate cash and recover potential losses. If there’s no summer, then there’s no need to go on post season recovery… She and her team might as well be ready to capture some sales when they start rolling in! Even if it’s as late as this winter.
- I love what these guys are doing!
- As for the $200k improvement to one business’s bottom line during two consecutive disruption years, I’ve provided a full case study in the link below…. In the case study I go through the specifics of the two disruptions as well as the steps we took to handle the disruptions.
- In short, the first year was a statewide fire fiasco. The whole state practically shut down. The second year, immediately following the fires, was a record snow year which caused an avalanche to destroy the main highway in and out of his little mountain town. Both had significant impacts to his local economies causing numerous businesses to close their doors entirely. But not him.
- So how did we do it? First, he hired me.
- Second, we eliminated unnecessary spending and renegotiated contracts.
- Third, we looked at his personnel and rebalanced duties. We standardized job duties. He matched strengths with interests and put two employees on salary. He effectively went from having a lot of general jobs into a few well-paying refined and focused jobs. Not to mention the employees were tickled pink to go to salary.
- Fourth, we setup different bank accounts to protect owner pay, profit savings, tax savings, and reduce spending. When the spending account got low… He and his team needed to get creative. And they did.
- Fifth, him and I had recurring meetings to evaluate and rebalance things OFT
- What were the results? Over $200k improvement to net income over two years. He essentially paid off debt, increased wages company wide, and created a savings buffer that gives him wiggle room to remain calm during COVID-19, get creative, and jump on the right opportunities to thrive through this thing.
- The overall lesson here: opportunities are everywhere. You just must know where to look. We’ve been blessed with this forced corporate retreat… Use it and use it well! Anything you discover this year will carry into next year. This is how we thrive.
- A little teaser… I’m currently in the process of building an online video-based program that will teach you the stuff mentioned in the case study and more. There’s an opportunity to get this info, as well as some one-on-one coaching for with me while the program is being built. I’m limiting the number of owners who can participate. So, if you want to claim a spot, hit me up.
- I’m Zeb Smith… Wherever you’re watching, comment below and let us as a community know about the opportunities you’ve found in your business. Thank you for watching.
