Spring 2014 issue of Horizons

TRANSPORTATION & DEALERSHIPS

Step Three: Adapt To Change The last step to increase profitability is to be open and ready for change; it will come whether you are ready for it or not. It is inevitable that change will come for any industry; however, in the transportation and dealership world, change happens quickly and often. One of the most popular changes that can help profitability is green initiatives. Many companies have either been approached or read about ways to be “more green” and save money. The main advantages of going green include money-saving opportunities, making your company a better place to work, differentiating your company and helping the environment. While there may be an initial investment, it is likely that your company will experience a return in future years. It’s also important for your organization to embrace technology. Reports indicate that adults received 36.5% of media consumption from some form of digital source, compared to only 5.4% from printed sources.

With the constant rise of social media, many companies are constantly searching for new ways to tap into the social media market. How is your business currently using social media? Do you have a specialized team associated with social media and online sales? If you have an online sales team, are they going through the same training as your normal sales team? Keep in mind that customers you interact with online are still customers and should be given the same attention as those customers you speak with on the phone or those customers who walk in the door. To make the most effective and profitable plan you will have to find out what works best for your business and your team members. With the environment and market we live in today, start developing your plan sooner rather than later, get your team members involved, and contemplate ways to keep your highly effective team members and your existing client lists. And last, but not least, keep an eye on the near future for the possible changes coming that can affect your business.

RubinBrown’s Transportation & Dealerships Services Group RubinBrown assists the transportation industry through accounting, income tax, retirement, estate and benefit planning.

John Butler, CPA — St. Louis Partner-In-Charge Transportation & Dealerships Services Group 314.290.3333 john.butler@rubinbrown.com

Mary Ramm, CPA — Kansas City Partner Transportation & Dealerships Services Group 913.499.4406 mary.ramm@rubinbrown.com

Aaron Pollard, CPA — St. Louis Manager & Vice Chair Transportation & Dealerships Services Group 314.290.3457 aaron.pollard@rubinbrown.com

Russ White, CPA — Denver Partner Transportation & Dealerships Services Group 303.952.1247 russ.white@rubinbrown.com

page 68 | horizons Spring 2014