For the 8th edition of the Rental Roundtable, join Kyle Clements, Quipli Founder/CEO as we dive into the secrets behind 70 years of success as an independent equipment rental with Jeff Lignugaris, President of Northside Tool Rental.
Some of the core topics covered include:
1. What Got You Here Won’t Get You There: Why entrepreneurs need to leverage the Entrepreneurial Operating System to run effectively.
2. Technology Adoption as a Small Equipment Rental Business: How not to get distracted by the shiny object.
3. The Importance of People: The importance of training and why sometimes it’s best to wait years with an open job description before making a bad hire
4. Know Your Numbers: Systems and processes to stay on top of your equipment rental business, arm yourself with the data and information to make proper business decisions.
TIMESTAMPS:
0:00 Intro
5:37 - 7:30 What is EOS (Entrepreneur Operating System)
10:00 - 13:45 Embracing New Technology
17:20 - 20:03 Benefits of an Integrated Rental System
21:25 Accountability as an Entrepreneur with a Team
23:20 How Technology Fits into a Rental Business
28:00 Importance of Your Rental Software Provider
28:30 - 29:40 First Pieces of Tech to Invest In (Rental Software)
29:40 - 30:44 First Pieces of Tech to Invest In (Website)
30:57 - 33:00 Looking Into Future Technology Trends in Rental
33:15 Utilizing AI in the Rental Industry
34:30 - 35:10 Balancing Technology & In-Person Relationships
35:20 Using Dynamic Pricing to Maximize Utilization
40:00 Importance of People
44:00 Hiring Based on Values
49:50 - 51:52 Setting Expectations for New Hires
53:40 - 55:52 Top Pieces of Data to Track
56:35 - 57:35 How to Calculate Your Dollar Utilization Rate
58:30 General Advice for Start Up Rental Shop
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