Yesterday, Record360’s CEO, Jesse Buckingham, was joined by Shaun Brown from Kimball Equipment and Ken Allen from Mammoth Machinery for a lively, informative discussion on How to 10x your heavy equipment rental revenue. Shaun and Ken have a combined 40+ years of experience in equipment rental.
They shared their wisdom and experience on topics such as developing a culture of customer service, overcoming hiring challenges, and growing revenue by leveraging technology.
- How do you start to scale a rental business? (5m 32s)
- How can I develop a culture of customer service? (21m 3s)
- How can I develop partnerships to grow revenue? (27m 35s)
- How do I find good blue-collar workers? (30m 50s)
- How can I grow revenue by leveraging technology? (36m 31s)
- How do I bill customers for damage and preserve the relationship? (43m 52s)
Shaun and Ken were both adamant that revenue growth begins with an outstanding customer experience. Ken encouraged listeners to really ask themselves if “customer service is embedded in your culture and behavior…Is it in your culture from the yard guys all the way up to the owners?” This looks like responding to your customers’ needs and responding to them quickly. Both Shaun and Ken have seen this become an overwhelming differentiator in recent years. As Shaun said yesterday, “the start of the magic formula is giving your customers exactly what they need, as soon as possible.”
The start of the magic formula is giving your customers exactly what they need, as soon as possible.
With unemployment exceeding 10% in the U.S., you’d be surprised to hear the challenges rental operators are having when hiring new people. It’s gotten harder to find good, blue-collar workers. As Ken said, “nobody is growing up these days saying they want to be a diesel mechanic or a field service tech.”
So, how have Shaun and Ken still managed to bring top talent into their businesses? Shaun said it’s all about “culture and growth.” “The culture has to be somewhere people want to work,” and you need to “give people the chance to grow.” Ken added that “you have to adapt to today’s workforce,” and “Millennials and Gen Xers require flexibility in their schedule.” Culture, growth opportunity, and flexibility are what Shaun and Ken have relied on to bring in top-tier talent. In turn, this talent has become a cornerstone of their revenue-growth strategy.
Rental leaders, like Shaun and Ken, have also turned to technology to grow revenue. Whether it’s GPS tracking or modernizing their rental inspections, keeping their equipment in like-new condition has been critical to revenue growth. You can “build your brand by keeping your machines looking great,” said Ken. Ken says you can do this most easily by “improving damage recovery with technology.”
One component of this, for Shaun and Ken, has been Record360. Before Record360, they were using digital cameras with SD cards to photograph their machines. Now, their rental inspections are cloud-based, mobile, and easily searchable through Record360’s platform. Their techs can snap photos and videos on their phones and the photos are immediately available on Record360 for anyone in the office. Whether it’s Record360, GPS tracking, or a rock-solid RMS, great technology has now become table stakes for high-growth rental operations.