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Opportunity in COVID-19?

 

WITH COVID-19 APPARENTLY TAKING OVER OUR LIVES, THE PAST FEW MONTHS HAVE BEEN A TIME UNLIKE ANYTHING IN RECENT HISTORY.

As I’m sure you’ve all realized, now is not the time for the faint-hearted. For many of us the health of our families and vulnerable loved ones is big concern. On the personal finance level, we find ourselves scrambling to check our house-hold expenses, forced to back-burner costs not considered a priority.

We might even find ourselves looking for ways to supplement our family income as for many, our jobs have been affected. All this while following social distancing
rules.

Surely for each of you that are self-em-ployed the same things are happening in your company. The big question remains: is it enough to carry your business to the other side? At our company ELV Select Inc., we have taken the time to ask this same question and have come to a conclusion that we feel is the deciding factor for how we both react and recover from this pandemic as a business.

IS THERE HIDDEN OPPORTUNITY IN COVID-19 ?

Let me explain. With our busy lifestyles taking over prior to the advent of COVID-19, each
of us can surely testify to having a list of things we always wanted to achieve with our business. I believe many of these goals can fundamentally transform our things for the better. I would suggest that we need have a good look at three variables.

The first area of opportunity should be our team members. Without a good team we aren’t moving forward at the best of times. What better time to ensure your people are strong? Now is the time to sit with or Zoom call your staff individually, get to know them on a personal level and ask how they are experiencing the day-to-day jobs under their care. This process will allow you to better understand the skills and characters of your biggest as- sets. Often the transfer of tasks from one employee to the next will prepare each area of your business for future growth. Don’t be afraid to ask your employ- ee where they feel their skills are strongest and try your best to celebrate those skills with appropriate changes.

The second area of opportunity would be the equipment you use daily. Your equipment has a profound impact on the lives of your staff as well as a direct impact on your net profit. Have you taken this opportunity to fully inspect your equipment, repair the areas that you are able to handle financially and if needed order upgraded equipment? Surely now is the best time to secure a good deal on new-or-used equipment.

Third and certainly not least, is our business process. If the above two suggestions are well-followed, this analysis of our process is the organic result. Include your staff in the
discussions. How can we better operate; what are the daily hang-ups and frustrations; do we need to upgrade equipment?

At ELV Select Inc, we are committed to helping you work through many of these elements. If you are in the metal and vehicle recycling industries, feel free to engage us in your planning and discus-
sions. Daily, we hear about the successful changes implemented by our clients across the country. Let us help you with your equipment needs as well as your staff training in efficient recycling processes that not only reduces double handling of scrap materials but also increases vehicle throughput.

-Bob Vanleeuwen | published in Auto & Trucking Atlantic Magazine, May/June 2020, page 43