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ATLANTIC CITY, N.J. — Operators Doug Schwartz of Executive Ground Transportation in West Babylon, N.Y., and Steve Qua of Company Car and Limousine in Cleveland, Ohio will lead a roundtable discussion called “Mapping Out Your Business Plan To Maximize Future Success” on Monday, Nov. 5 from 9:55 am to 10:45 am during the LCT East Show. If you’re interested in discovering the best type of business plan for your company, you’ll definitely want to attend.
Planning for the future is important, and the way you do depends upon the type of business you’re running. Schwartz says although he and Qua operate similar size companies, they have two different kinds of business plans. “I don’t really have one, and Steve is more organized and has a charted out course.”
“Look at a couple who manages their money very closely and always has enough for the rent, and then look at a couple who takes all their money, throws it in their checkbook, and pay the bills as they come," Schwartz explains. "Most couples will probably get to the same place in the end. I may not forecast, but I have my finger on the pulse of my business. If I’ve got seven people answering phones and two are sitting around, it doesn’t take a rocket scientist to figure out you have too many people on the shift.”
He adds his practices will only work in a sole proprietorship. “If you have other people to answer to, they won’t let you operate the way I operate. I was in the restaurant business for a very long period of time, and that’s probably where the instinct came from.” Schwartz will talk about some of the things he does to make sure he always has capital on hand.
Qua says he always wants to know what the effects will be on his bottom line when opportunities crop up. “I have a spreadsheet I can play around with to determine what other expenses will arise along the way if I decide to take a particular course of action.”
Both speakers want to stress the fact neither plan is right or wrong — it entirely depends on an individual’s circumstances. They say the presentation will turn into more of a discussion, as the session will thrive on operators relating their own experiences. “As much as we like to talk, we don’t like to lecture. We don’t pass judgment, as there are ups and downs of each method,” Qua says.
Schwartz says if you attend the session, you’ll walk away with additional insights in money management for your business. “We believe this will be one of the most dynamic and informational sessions at the show.”
Qua adds while seminars about ELDs, how to buy buses, and how to market better are great to attend, this is the seminar where you can earn the value of your ticket to the show by interacting with new attendees and seasoned veterans.
“You’ll actually have fun doing it. By finding out what you want to know, we’ll be able to better serve you.”
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