Luxury Coach & Transportation

February 2014

Magazine for the professional limousine, charter and tour industry.

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Page 39 of 101

36 WWW.LCTMAG.COM LIMOUSINE, CHARTER & TOUR FEBRUARY 2014 2014 ILCT SHOW: YOUNG ENTREPRENEURS The LCT Fast 40 Gets Connected Operators from around the nation and world are beginning to network around millennial workforce topics and cutting edge technology. By Tim Crowley, LCT senior editor T he technology revolution has ushered in a uniquely skilled and savvy young workforce running into old-school hab- its and systems. As they work together in companies as employees and colleagues, they share knowledge and traits that are changing the ways in which we do business. New tech capabilities allow for em- ployees to work remotely, with full sharing of f les and access to vast cloud databases from anywhere. And mobile devices enable people to shop while riding the bus, with goods delivered to their door- steps without ever having to wait in a check- out line. The millen- nial genera- tion, or Gen Y, grew up during an i n f o r m a - tion and technologi- cal revolu- tion, which makes them the f rst pioneers in communicating and con- necting with others online. As business and commerce becomes more deeply in- vested in the web, the input each genera- tion has on the new economy brings with it a number of new challenges. Consumers, culture and technology are changing from day to day. While generational change is not a new a con- cept, the key to success remains in f nd- ing the best ways to adapt. Cohesion Among Competitors The LCT Fast 40 aims to bring together a network of operators from around the world who are tapped in to the new commerce culture and economy. Faced with a mobile guerilla-like assault, the chauffeured transportation industry has improved its regulatory knowledge and strengthened its calls for compliance and enforcement. Operators collectively have educated themselves on new app technologies and evaluated their pros and cons. In the limousine industry, compa- nies that were once started by fathers and mothers are seeing their sons and daughters assuming more managerial positions or even taking the helm com- pletely. The millennial workforce has brought in the advent of social media marketing, and along with it a number of generational differences for new dy- namics to company structure. To dissect and steer these industry trends, the LCT Fast 40 has created a community that engages and analyzes what's new, what's different, what's in- teresting, and what will work best for the industry. LCT Magazine launched the Fast 40 Group in June 2013 as a 21st Century version of a think-tank where passionate operators could share their ideas on how the limo industry could better itself in new and inventive ways. While branded toward operators ages 40 and under, any operator of any age can contribute business solutions on how to foster technological and orga- nizational cooperation and resolve con- f icts arising from generational changes. It's a place for operators to swap new links to exciting developments across industries that could be applied to chauffeured transportation. From advanced car tech features to new business practices, from buyer cul- tures to generational habits, the Fast 40 will provide research and statistics to pertinent data and provide f rst-hand accounts from operators in the f eld. The Fast 40 Panel at LCT Show East, featuring panelists from [L to R]: Danny Bacher, Sami Elotmani, Kyara Kahakauwila, Jorge Sanchez, Matt Assolin, and LCT editor Martin Romjue moderating. L I M O _ 0 2 1 4 f a s t 4 0 . i n d d 3 6 LIMO_0214fast40.indd 36 1 / 2 1 / 1 4 1 0 : 3 5 A M 1/21/14 10:35 AM

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