Displaying items by tag: finances
Creative Revenue Streams Right Under Your Nose
Increase revenue by doing more with what you already have, using your current infrastructure thoughtfully. We’ll touch on areas within your business that could be used in slow times to increase revenue. Examples include loss of use, short-term rentals, reallocation of fleet, paying local affiliates for their drivers, leasing drivers, using vehicles to transport things other than people (high-priority delivery items) and retail work for internal departments such as detailing or in-house mechanics.
Presented by: Alan Candeub of Park Avenue Limousine and Daniel Perez of DPV Transportation
Intro to KPIs: Industry-Specific Metrics Critical to Profitability
Have you heard other professionals talk about the importance of KPIs and didn’t know where to start? If so, this is the session for you! We will focus on dissecting a handful of industry-specific key performance indicators (KPIs) that you can calculate quickly and effectively, even if you are not a CPA or a data scientist! This session will help you understand the substantial role that each of these KPIs play in determining your company’s profitability both in the short and long term. You don’t need to be a financial guru to benefit from this session; simply join our experts as they demonstrate how a few basic KPIs can translate your operational know-how into profitability.
Presented by: Jessica Boulerice of The LMC Group and Sami Elotmani of Destination MCO
Are You Making Money?
The LMC Group
In this session moderated by Broadway Elite Worldwide’s Jason Sharenow, industry veteran President/CEO of Commonwealth Worldwide Dawson Rutter and The LMC Group’s Director of Finance Jessica Boulerice will use their expertise to help you take a closer, critical look at the financial health of your company while exploring ways to bolster your profit. We’ll help you keep your bottom line and profit margin in check by focusing on the full range of areas to keep tabs on. Take a look at a sample P&L sheet to get a handle on how to break it down, examine your variable and fixed costs, learn how important it is to know your gross profit margin to the percentage point, identify the most crucial KPIs you should be tracking monthly, scrutinize market forces, find out the real cost of carrying A/R debt and more with this session that aims to give you all the tools you need to analyze not only your company’s money-making realities but also its potential.
President and CEO
Dawson Rutter is president and CEO of Commonwealth Worldwide Chauffeured Transportation. He began his career 35 years ago, when as a young man he bought a single limousine with a clear business vision: to provide a level of personalized service that would keep customers coming back. With wholly owned fleets in New York and Boston, Commonwealth is still a family-owned business. He has been recognized as Best of Boston and Operator of the Year by the TLPA.
Contingency Planning: Stress-Testing Your Business for Likely Shock Scenarios (Part 1: Finance Related)
Windy City Limousine
Commonwealth Worldwide Chauffeured Services
Part one, moderated by Jason Sharenow of Broadway Elite Chauffeured Services Worldwide and co-chair of our Education Committee, includes speaker Kathy Kahne of Windy City Limousine, a well-regarded industry expert and Dawson Rutter, founder of Commonwealth Worldwide, a leader with 35 years in the business. For many, the pain and ambivalence of the 2008 recession remains a profoundly complex and still-present topic despite recovery, yet financial swings occur all the time. We’ll discuss how to ready your company financially before those economic dips. Other topics include the loss of a large client (especially one equivalent to a 20-percent revenue drop) and how to diversify to avoid such a situation in the future; the ubiquitous price wars that challenge long-standing relationships with otherwise reasonable clients; dealing with cash flow; and legal issues like employee embezzlement or IRS audits. This session will give you the peace of mind you need to think intelligently during a crisis rather than impulsively.
Everybody Sells: Seizing Opportunities To Build Your Revenue
They say that getting sales is like grabbing at low-hanging fruit. Well, that fruit is ripe and ready for picking. Geared with the small operator in mind, this informative workshop will show you how to maximize your profits and growth by snaring business that is within your reach. Join us to get an education on how to turn leads into money and get the most of the business available in your market. We’ll also give you a run down on services and resources that are available to a business on the move, and prepare you for hiring or increasing staff.
Presented by: Kim J. Garner of Best Transportation and Kimberly Vissak of Build a Team Consultants
Are You Getting the Best Possible Insurance Rates?
Join us for a timely and useful workshop that will help operators keep their costs down by getting the best possible insurance rates. We’ll give you examples of what insurance companies look for when they’re determining your rates. Topics include knowing and understanding loss runs, managing claims, hiring practices, ongoing training, and the quality of your chauffeurs on staff. While insurance regulations certainly differ from state to state, you’re bound to get a wealth of information from this session.
Presented by: Bob Crescenzo of Lancer Insurance and Steve Friedberg of Research Underwriters
Business Development: Thriving Through Growth
Most CEOs drive company sales, but every member of the team is a potential sales touchpoint for clients. Using these two successful models, speakers will share how to create a structure where everyone sells and how even traditional non-sales positions can be critical for the overall sales effort. It will also include how to create KPIs that focus on conversion rates, track sales and accountability, mentor your existing staff, and build an effective sales team.
Presented by: Dave Reinhart of TBR Global and Wayne Knaub of RSM Maintenance
Money in the Bank: Presenting Your Best to Lenders
This session will focus on ways that companies can position themselves to be more attractive to banks to secure commercial loans. It will examine the most relevant criteria lenders look at, as well as how each weighs into the decision. It will also include advice on how to raise money through personal and credit card processor loans, and other resourceful and nonconventional methods.
Presented by: Andi Gray of Strategy Leaders and Sami Elotmani of Destination MCO
Priced for Profit: How to Calculate and Determine if a Vehicle, Run or Even Client is Making You Money
Professional Consulting Resources
This session will help you pinpoint what services and customers are profitable by weighing their financial pros and cons. You’ll be able to determine what—and who—is either filling your coffers or decreasing your margins so you can move ahead accordingly.
Wage and Hour Laws
Daniel Crowley & Associates
Pike & Pike
This timely session tackles the tricky and critical topic of wage and hour laws, a relevant topic for any operator in our industry. Learn the basics that will safeguard you and your company from the most common errors small business owners experience. The speakers, both accomplished attorneys who are entrenched in chauffeured transportation, will also discuss the ins and outs of contractual negotiations. There will also be a limited Q&A session—which is essentially free legal advice. This is one you won’t want to miss!