Swallow Your Pride or Lose

Posted on June 25, 2009 by LCT Magazine

“Rage against the dying of the light.” — Dylan Thomas
NO GIVING UP: What do you do when the end is near? I have heard about many companies that have shut their doors and have moved on. I think though that this should be the last course of action. There are those operators out there that will still entertain conversations of consolidations and mergers. I believe that the problem is that many people do not want to admit failure. The problem is that if you put your pride before good business sense, you hurt more than yourself. Many of the companies that have closed employed chauffeurs, dispatchers, and car- washers. 
The first step should be to let your competitors know that you are open to selling or merging. Companies have some value beyond just shutting down. You invested in your toll free numbers, yellow pages ads, websites, etc. These all could be sold to a competitor. 
I have heard of deals where the owner stays on and maintains his accounts while bringing in new business on a commission basis. There are many ways to structure deals. But walking away isn’t the answer. 
Be open-minded when negotiating. I have heard of lots of folks who stopped negotiating viable deals and have just walked away only to close their doors a few months later. 
I spoke to an operator this week who said he would love to have a Chicago location. A South Florida company is looking to consolidate companies. There are many out there. Send me an email if you are in a buying or selling mode, or post on this blog and we will try to hook you up with people who are receptive. We as an industry need to work together to remain strong. Don’t give up.
— Linda Moore, East Coast Editor 
View comments or post a comment on this story. (0 Comments)

More LCT Blog Blog Posts

October 1, 2012

Event Management

Don't let your guests down. Here are some things to think about before the event starts.

September 26, 2012

October LCT Mag Focuses On Customer Service

ISSUE PREVIEW: What does he think? What did she really say? Are you channeling your customers? In the October 2012 issue of LCT Magazine, you’ll get a complete primer on how to read and please your
September 26, 2012

Driverless Cars Legalized In California

With no need for people to operate vehicles, how can limo companies adapt to the new world of transportation?
September 26, 2012

Manners Still Matter On Social Media

It has never before been easier for businesses to share information, insight and intimacy with consumers; it has also never been easier to offend them. Read more to learn how to avoid a social media faux pas.
September 20, 2012

My First Encounter With The 2013 Lincoln MKT Town Car

On my trip to Chicago last week for the 2012 BusCon Expo, I had the pleasure of experiencing a new ride — the 2013 MKT Town Car.
See More

Facebook Comments ()

Comments (0)

Post a Comment



See More

See More

See More

See More

LCT Store

LCT Magazine - October 2016 $12.95 COVER STORY: * Leverage Tech To Levitate Your Operations * *


Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close