The transport industry is set for more exciting times ahead – but growing profits in an industry with such intense competition will be hard. Increased fuel costs, a shortage of skilled labour, increasing interest rates and industry rationalisation will mean every transport business will have to work hard to maintain market share and grow profits.
Lloyds North Pty Ltd is a transport business that competes in a tough market and facing rising costs. Lloyds North needed to develop strategies not just to grow revenue but also improve the overall profitability of the business. In the transport industry the skill and understanding of its staff determines the effectiveness of the business. Identifying optimum schedules, making sure vehicles are fully utilised and offering the best customer service has a significant impact on the costs and profits of the business.
Lloyds North found that upskilling its staff and using a structured process to identify the best growth plans was critical in getting productivity and commitment from its team.
Lloyds North staff can now relate their actions to the impact on the profitability and performance of the business, and as a result make better decisions. This has resulted in increased profits for the business and an increase in commitment from the staff to achieving the company goals.
Maxell Consulting has used the Profit and Growth Plan Process throughout Victoria for the last five years. They have seen clients find clarity in their business, identify sales opportunities and develop plans to cut costs. The Profit and Growth Plan Process was created by TOTAL Business Consultants and has had staggering success in helping hundreds of businesses create increased profits and solve the problems that have hindered their growth.
The real success of the Profit and Growth programme comes from systemising the process of developing the business. By teaching staff how to analyse the business and providing them with the tools to repeat the process, business growth becomes engrained in the culture of the business. This is what makes business growth sustainable and continuous.