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Growth for the sake of growth is the ideology of the cancer cell.

For a chauffeured transportation company, it should be growth for the sake of profit.

In this episode, Ken and James dive deep into the economic framework of ground transportation businesses and breaking down the “profit equation” into its component parts. Drawing from the analysis of 250 companies, Ken shares insights that differentiate thriving businesses from those merely surviving.

Key takeaways from this episode:

• Maintaining a profit equation is critical, with operational costs ideally no more than 55% of total revenue.
• Understanding the importance of balancing the owner’s salary with annual distributions to ensure financial health.
• Diversification in services and fleet to maintain higher gross margins and reduce operational risks.
• The significance of pricing strategy based on actual costs rather than competing with lower-priced models.
• The need for consistent W-2 income for securing loans and retirement planning, aligning with IRS recommendations.

Take the next step and apply these insights to your business. Enroll in the Driving Financial Success program today: https://www.drivingtransactions.com/financialsuccess

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It’s no longer air vs ground transportation. It’s all one experience from the minute the passenger steps out their door to the minute they arrive back.

In this episode, Ken and James sit down with Susan Lichtenstein, VP of Sales at HQ, to shine a light on trends and technology in the corporate travel industry. In this episode, you’ll learn:

• How technology can help operators modernize their business, allowing for real-time vehicle tracking, automated expense management, and enhanced safety measures.
• Why operators must think of the entire passenger experience
• What to expect from self-driving cars, robotic transportation systems, and the continued growth in electric vehicles and micro-mobility solutions.
• Why the industry needs more women and diversity in leadership roles to foster innovation and improve customer experience.

Connect with Susan on LinkedIn: https://www.linkedin.com/in/susanlichtenstein/
Visit the HQ website: https://hqtravel.com/

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A majority of corporate travelers believe customer service in the industry has drastically declined.

In this episode, Ken and James explore the importance of maintaining and elevating luxury service in the chauffeured transportation industry. They share insights on the importance of punctuality, presentation, and customer service excellence, highlighting real-world experiences and industry standards. In this episode, you'll learn:

• Why customers won't remember what you did, but rather how you made them feel.
• Examples of good and bad service in the chauffeured transportation industry.
• The three layers in the "pyramid of success" used in PAX Training's program.
• Why it's important to anticipating customer needs
• Why maintaining high standards post-pandemic is so challenging for operators.
• And much, much more...

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Don’t let skyrocketing insurance rates break your business.

In this episode, Ken and James sit down with Mike Marroccoli, Principal at EPIC Insurance Brokers & Consultants. They explore the impact of rising insurance costs in the transportation industry, emphasizing the crucial role of safety culture and risk management in keeping premiums manageable. In this episode, you’ll learn:

• Why the industry is currently in a "hard market," causing elevated premium rates due to increased reinsurance costs and high claim payouts, including "nuclear verdicts."
• Why minor accidents can lead to more severe incidents, reinforcing the notion that "frequency breeds severity."
• How the use of telematics and cameras in vehicles can mitigate risks and protect against fraudulent claims, despite initial privacy concerns.
• Why companies should be diligent about reporting all potential claims, even minor incidents, to avoid future complications and ensure early settlement possibilities.
• How brokers play a critical role in managing insurance needs, advocating for clients by thoroughly assessing risks, negotiating with carriers, and ensuring timely policy renewals.

Connect with Mike on LinkedIn: https://www.linkedin.com/in/michaelmarroccoli/

Visit Epic Brokers website: https://www.epicbrokers.com/

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Experience the evolving landscape of the ground transportation industry.

In this episode, Ken and James recap their experience at the 2024 CD/NLA show in Washington, DC. They cover pressing topics from industry growth concerns to the competitive threat posed by ride-sharing giants like Uber and Lyft. In this episode, you’ll learn:

• Why airports are critical for the industry's survival, and the threats that could stop it from happening
• How many Fortune 500 companies use Uber’s executive service portal, and what that means for operators
• Why telematics and cameras are critical to combat high insurance costs
• Why the industry needs to prioritize technological integration, like improving app interfaces to compete with TNCs
• How to leverage state and local association involvement to grow affiliate work

Conference website: https://www.cdnlashow.com/

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How can chauffeured transportation businesses compete with rideshare giants Uber and Lyft?

Strap in as Ken and James explore how inDrive is disrupting the status quo with Adam Warner, Operations lead at inDrive. In this episode, Adam shares how inDrive is addressing wage discrimination and operational fairness in the gig economy, particularly in emerging markets. In this episode, you’ll learn:

• How inDrive allows passengers and drivers to negotiate fares directly, ensuring transparency and fair wage distribution.
• How inDrive is expanding into regions like India, Egypt, Latin America, and now Miami.
• Why inDrive is focused on providing economic transport solutions rather than nightlife riders.
• How drivers are able to see what passengers pay and set fair rates.
• Adam’s experience being personally involved in launch operations, including rigorous driver background checks and a focus on quality recruitments.

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In this episode, Ken and James are joined by Brett Barenholtz, CEO of Above All Transportation and President of the National Limousine Association. Brett shares his journey from expanding his family taxi business to leading significant mergers and acquisitions, emphasizing the value of collaboration and the role associations play in personal and professional success. In this conversation, you'll learn:

- How fostering trust among partners and clients can make or break your business's foundation.
- How the pandemic reshaped fleet management strategies and operational overheads for long-term sustainability.
- How Brett’s views the importance of building a collaborative industry ecosystem, fueled by his own experiences and mentorship.
- How the National Limousine Association supports limo business owners, from lobbying efforts to educational opportunities.
- Practical advice on leveraging associations, attending industry shows, and joining "20 groups" for a robust professional network.

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Do you have what it takes to build a luxury transportation service brand?

In this episode, Ken and James sit down with Bruce Heinrich to unveil the secrets of building a luxury service brand in ground transportation. They explore the importance of company culture, employee respect, and quality service as the cornerstones of success. In this episode, you'll learn:

• Why company culture is critical
• What to look for when hiring drivers
• Why you should treat employees with respect
• How you can apply lessons from Ritz Carlton training program
• Why you should invest in ongoing training and education