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We all share the same goal |
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Regardless of business or industry, we all share the same goal - increased profits. And the easiest way to make money is to save money!
I recently returned from spending three days working One-on-One with a transportation provider who is doing well, but could definitely increase his profit margin by making adjustments in his business model and daily operation.
His operational procedures and financial expenditures revealed some key areas of waste and inefficiency. After pealing back the layers of his maintenance program we discovered that the cost in maintenance of some of his vehicles were costing him an additional 40% as compared to other vehicles in his fleet.
More specifically, this business owner operates 3 Mercedes Benz Sprinter wheelchair vans which are very nice and attractive, but simply put, are costing him more in parts and services as compared to his other vehicles. |
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Don't make emotional decisions |
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Why did this transportation provider invest in these vehicles? Honestly, he got weak in the knees, fell in love with, and was emotionally wooed by the whole novelty of the latest and greatest vehicles. As this business owner admits, he thought that investing in the newest and nicest vehicles would "get him better, more loyal customers." However, what he failed to take into consideration is that, in some instances, these "popular," more expensive vehicles cost more in maintenance and insurance as compared to the standard and more common Ford, Chevy, and Dodge models.
So what's the morale of the story? Well, two fold.
First, you have to understand that your vehicles and equipment are assets - bottom line. If they are not MAKING you money, they are costing you money. And to be profitable, you DON'T NEED to have the latest and greatest, most attractive assets. As I always say, don't chase "Shiny Objects!' They sure may look good, but shiny objects can prove to be rather costly. They can excite you emotionally and, thus, you may make poor and uncalculated decisions.
Second, you absolutely need to consider all associated expenses when cosidering the investment of new vehicles and equipment. The obvious savings that business owners pursue is fuel. And that's great, you definitely want a fuel efficient vehicle - at least as much as you can find. BUT, you need to consider other variables such as maintenance and insurance costs, financing costs, convenience for drivers which can influence labor and worker's comp costs, etc. |
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3 Kinds of People |
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I am sure many of you have heard the old saying regarding the three types of people.
The first type of person is on the sidelines, the spectator, always asking "what's happening?"
The second type are those motivated people, people of action, people that make things happen!
And the third type of people are the complainers and people who let time and opportunity pass them by, always asking "What the heck happened?"
As we near the end of the first quarter of 2013, some of you NEED to ask yourself what type of person you are.
Are you on the sidelines letting opportunity pass you by? Soon, we're going to be down to 3/4 of 2013 left. Whatchu gonna do with it?
Maybe you're the complainer - coming up with excuses of why you can't take action. Maybe you're working for wages and you're content with the increases in taxes and deductions?
My hope is that you're a person of action, someone with internal motivation eager to write your own destiny. If you are, CLICK HERE. Time is running out!
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Are you in need of Vehicles & Equipment?
The UMTPG continues to grow and we're in the process of updating our website. We have recently incorporated a "Vehicles & Equipment Questionaire" to allow us to better help you find the assets you need. If you're in need of cost effective vehicles, new or used, efficient in fuel and price, CLICK HERE and let us know!
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Joel's one and ONLY live seminar of 2013 is quickly approaching! If you're a doer, a peson of action, and you're ready to take your business to a whole new level, then you NEED to be in Denver, CO, on the weekend of April 5th & 6th! The information and strategies that Joel will be sharing you absolutely will NOT here anywhere else! |
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The economy is changing. The industry is changing. What are you doing to adapt your business to ensure that you remain profitable? Do nothing and you just might find yourself out of business! |
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CLICK HERE NOW TO GET STARTED |
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