“When you have the ability to remain calm and strategize in situations that are disruptive, potentially harmful, you’re not freaking out like everybody else. — If you can do that, and go through that exercise and build it, you can come up with an optimal solution. But most people don’t do that. They respond the opposite way. And that’s when bad things happen.”
— Landon Brewer
It doesn’t matter if we’re already in a recession; the cold hard truth is that people and businesses are already feeling the brunt of inflation. People’s purchasing powers have decreased, and it’s getting harder to sell. The businesses that do survive this economic downturn will be the ones that come up with ways to adapt and bring in the most value to their customers.
In this episode, Billy Stevens of Sera Systems and Landon Brewer of Goettl Air Conditioning & Plumbing exchange ideas with our hosts about not only surviving but thriving during times of economic downturn. One of these strategies discussed is selling warranties. They help build trust with customers and are a massive revenue stream that most of the service business industry has yet to embrace and take advantage of fully.
Warranties are an exciting opportunity overall, but they don’t come without cost, especially if you decide to offer them in-house. Billy offers tips on how to price your warranties competitively, and how you can make the process of handling warranties more seamless through Sera and its management capabilities.
There is also the matter of putting enough focus on the service side of your business. Instead of putting all your effort into new installations when people are looking to spend less, it might be best to be proactive in offering replacements, maintenance, and repairs. Landon also suggests a way to create a revenue stream by turning these services into perks that you can get through club membership.
In this episode, we discuss:
- Strategies to survive inflation and the recession
- How the service side of your business may be the key to survival
- Why the industry service industry is missing out on revenue from warranties
- The pros and cons of doing warranties in-house
Check out these resources we mentioned during the podcast:
Meet the Guests:
Billy Stevens, Founder & CEO of Sera Systems, experienced first-hand the problems that service-based business owners in South Texas faced. Billy’s background in HVAC and plumbing gave him insight into the time and manual labor lost from things like disrupted or missed appointments. With Sera Systems, Billy provides a simple way for dispatchers to automate manual tasks and focus on revenue generating tasks instead.
Connect with Billy on LinkedIn: https://www.linkedin.com/in/billy-stevens-a54a1819/
Email Billy: firstname.lastname@example.org
Landon Brewer is the former Senior Vice President of Goettl Air Conditioning & Plumbing and an expert business growth and strategy architect. Landon has joined Goettl in their mission to ‘Goettlize’ the nation and provides the company’s best training and technology to each employee, allowing them to reach new heights of success.
Connect with Landon on LinkedIn: https://www.linkedin.com/in/landon-brewer-13022311/
Email Landon: email@example.com
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