b"14 The Answer Man Auto Recyclers ToolBoxKeep Things in Perspective! Ask the Automotive RecyclingAnswer ManBy Jim CountsW e are coming out of a terrible5. Be innovative. Consider a cash shutdown of the greatest booming economy I candiscount on sales or a discount if the remember. I wish I had an experience Istatement is paid by the 10th or 15th . could share of how to recover from thisWe will come out of this.This would be instead of the usual last of nightmare; but I have never experiencedThose who stay focused onthe month payment.anything like this. My suggestion is to go with the basics. Our reasoning orwhat we can control, thinking can be abnormally affected byinstead of what we cant,6. In spite of what you hear in the outside input. The biggest negative inputnegative news media, the world is not is the news media. It thrives on findingwill be fine. coming to an end. Keep your spirits up! and reporting bad news - even if it has toLook for the positive in this time of search out isolated situations. They makechange. Focusing on what you can't fix is money by selling advertising and areif they aren't inventory.Eliminatea waste of time and energy. Look for driven and priced by the size of theirovertime. You never get work-and-halfwhat you can change or fix. Don't listen audience. They will do almost anythingfor time-and-a-half. to those who preach doom and gloom. to scare you so you will tune in. ButThere is nothing to be gained by listening the sky is not falling even if the stockto that. It drains our energy and depresses market is.3. Talk to vendors and lenders. See ifus. you can delay some payments.Keep inWe will come out of this. Those who Some basics we canmind, they can only go so long withoutstay focused on what we can control, get back to being paid. Our economy depends on theinstead of what we can't, will be fine. - free flow of money. So, try to payJim Countseveryone you owe some amount of what- Jim 1.Sales are driven by inventory. you owe. Consider looking at mutual About 50% of inventory comes fromdebt (companies you owe who owe you). vehicles you purchased in the last 90-120Agree to pay each other some amount soGOT A QUESTION?days. If you stop buying, your sales willyou don't lose all your available cash.Hereisyourchanceto drop even as the economy comes back. AThis will allow you to buy from them and depressed market should produce somevice versa.get an answer! Just send an good buys. Thoroughly analyze vehiclesemail with your brief question at auctions so you bid on the best4. Convert metal and scrap to cash.to:combination of needed parts. Less peopleThe market is not what it was. If you traveling will mean less wrecks andAnswerMan@MikeFrench.comfailures. That will affect sales anddon't need the money, then hold on to it if availability of vehicles at the auctions.you have the room.However, runningWemayincludeyour out of money is far worse than selling atquestionalongwithJims a price which is less than you are used to. 2. Cut expenses everywhere you can. Remember, cash flow means the cashanswer in a upcomingissue.Delay or cancel any purchases you can -needs to be available to flow."