Fears from coronavirus are reminiscent of other happenings which have affected the security industry during my lifetime. Gas shortages in the 1970s caused rationing. Odd license plate ending numbers could only purchase gasoline on odd days of the month and even license plate ending numbers could only purchase gas on even numbers of the month. A friendly local gas station allowed our trucks to fill up at a special hidden pump and rationing never slowed us down.
For several different reasons, there have been several stock market crashes such as in 1987, 2001, 2007 and 2015. Investors were surely affected. Many people either lost or made fortunes depending on whether they were selling or buying. Most businesses in the service and repair field floated through these stock market blips with very little loss in business.
Coronavirus is causing a different situation. Most events during the last century have been man-made and only affected small percentages of the population. Extensive health problems such as the flu have become manageable with vaccines. Hopefully a vaccine for coronavirus will become available at some future time. At the present there is no such cure. Without a vaccine, governments around the world are doing their best by closing businesses and sporting events where crowds normally gather. This is their interim solution to deter the spread of coronavirus. Their solution is causing many ancillary businesses such as locksmiths to lose business.
An old proverb states, "this too shall pass." The question is how long will it take? During any business lull, free time can be spent working on your business instead of working at your business. Consider new markets to enter such as installing automatic door operators, safe lock servicing or auto lock transponder servicing which can increase your company bottom line. Make cold calls to possible new customers such as real estate companies or commercial businesses. Send weekly emails to regular customers to remind them of your company. Locksmith Ledger will publish a listing in the June issue of available free learning videos.
