By Guest Blogger Thomas Barry — www.LearningWithoutScars.com
As the saying goes sometimes, you learn the hard way…
The business brevity concise version of my learning takeaway was – ‘Trust but Verify’!
I admit that I should have learned and internalized that sentiment from…
President Ronald Reagan well over a decade earlier!
The situation stemmed from my then-early decade-long background in construction equipment as well as the IT/ERP Software Industry, wherein I was contracted to advise a small Rent to Rent (RTR) business on their desired interest to become more competitive and profitable. Towards that end, the business strategy evolved under my guidance and expanded to become an OEM Distributor, which favorably impacted equipment competitiveness and revenue by way of lower initial acquisition costs and related KPIs. Additionally, I secured a new ERP/CRM software/computer package specifically earmarked for this industry sector endeavor, along with extensive physical facility layout and infrastructure modifications serving to support adding new and complementary OEM lines of construction equipment – and more.
Noteworthy: Additionally, I also sourced and instituted a construction equipment rental insurance rider policy option for this evolving and poised for expansion rental business so to have full access to rental insurance coverage for all interested renters at the point of a rental agreement. A common option widely available for decades now for those cases when a renter does not have their own blanket policy resources.