The Road Explorer - Spring 2018 - 7

ROAD

explorer
THE

INDUSTRYVOICE

Managing Editor
Christine Loo
christine@omca.com

Business
By the Numbers

Publisher
Bryan Metcalfe
Naylor Editor
Leslee Masters
Project Manager
SaraCatherine Goodwin

by Doug Switzer

Publication Director
Tracy Goltsman
Marketing
Margaux Braund
Sales Representatives
Maria Antonation, Jason Currie,
Meaghan Foden, Judy Pringle,
Susan Segura, Megan Stanley,
Jamie Williams
Project Support Specialist
Bridgette Jones
Layout and Design
Ranjeet Singh
The Road Explorer is published
three times per year by
1200 Portage Avenue, Suite 200
Winnipeg, MB R3G 0T5
Tel: 800-665-2456
Fax: 204-947-2047
www.naylor.com
for the Ontario Motor Coach Association
320 North Queen Street
Suite 210
Toronto, ON M9C 5K4
Tel: 416-229-6622
Fax: 416-229-6281
©2018 Ontario Motor Coach Association.
All rights reserved. The contents of this
publication may not be reproduced by any
means, in whole or in part, without the prior
written consent of the association.
OMCA -
Ontario Motor Coach Association
320 North Queen Street
Suite 210
Toronto, ON M9C 5K4
Tel: 416-229-6622
Fax: 416-229-6281
info@omca.com
www.omca.com
MCC - Motor Coach Canada
320 North Queen Street
Suite 210
Toronto, ON M9C 5K4
Tel: 416-229-9305
Fax: 416-229-6281
info@motorcoachcanada.com
www.motorcoachcanada.com
PUBLISHED FEBRUARY 2018/OMC-T0118/9719
CANADIAN PUBLICATIONS
MAIL AGREEMENT #40064978

N

umbers are tricky things. I
have been known to opine
from time to time that they
lie worse than words. People
take numbers as absolute statements
of fact, whereas they will question and
parse the meaning of words endlessly.
But that's not really the numbers'
fault - that's our fault for not listening
to what the numbers are really saying,
for not looking for the deeper meaning
behind the bare fact of the number.
When it comes to running your
business, you need to do just that:
listen to the numbers, understand
what they really mean and what
they can tell you about what you
need to do to continue to succeed.
In this case, the numbers I'm talking
about are your business metrics,
your key performance indicators
(KPIs). And those are not just your
financial statements. They are,
to quote the Business Dictionary,
"Standards of measurement by
which efficiency, performance,
progress, or quality of a plan, process,
or product can be assessed."
If you're a bus operator, these are the
numbers that can tell you if your safety
performance is improving or heading
in the wrong direction, and whether
you need to take action to change
some aspect of your safety system.
They can tell you if your maintenance
costs are too high compared to your
competitors and if you need to take
a look at the way you manage your
shop. Or they can tell you if your prices
are aligned with your real costs or if
you are generating just enough cash
flow while slowly going bankrupt.

If you're a tour operator, they're the
numbers that tell you whether your
product offerings are still aligned
with market demand or if people are
turning away to other options, which
means you'll need to change your
destinations or the structure of your
tours. They tell you if your marketing
is working or if you need to change
your approach. Or they let you know
who your customers are, and their
demographics, so you make sure
that you are offering products that
meet their needs and expectations.
To succeed in business, you need to
measure constantly. Measure what you're
doing, how you're doing it, and what the
results are. But not just for the sake of
the numbers. As I said at the outset, it's
what the numbers are really telling you
that matters - what the trends are, where
the subtle red flags are that tell you that
things aren't quite what they seem, and
what you should fix now before the issue
actually hits those financial statements.
This edition of Road Explorer explores
this principle in greater detail, and
highlights one of the new products
that OMCA has developed for coach
operators to measure their KPIs and
compare them to industry averages (see
page 10). It's called StakUp, and we're
very confident that it's going to help
operators understand their businesses
better and help them make all the right
decisions to steer their business in the
right direction.
Because if you're not measuring,
analyzing and acting on your numbers,
you're driving your business blind, and
you'll fly off into the ditch at the first
major swerve in the road.
■

Read The Road Explorer online at www.naylornetwork.com/omc-nxt


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Table of Contents for the Digital Edition of The Road Explorer - Spring 2018

Industry Voice
Regulatory Update
Issues Update
Marketplace 2017
Made to Measure
Are You Ready for Windsor?
Angel Tours & Entertainment Inc.
The Strong National Museum of Play
Travel Highlights Marketplace
Classifieds
Index of Advertisers
The Road Explorer - Spring 2018 - Intro
The Road Explorer - Spring 2018 - bellyband1
The Road Explorer - Spring 2018 - bellyband2
The Road Explorer - Spring 2018 - cover1
The Road Explorer - Spring 2018 - cover2
The Road Explorer - Spring 2018 - 3
The Road Explorer - Spring 2018 - 4
The Road Explorer - Spring 2018 - 5
The Road Explorer - Spring 2018 - 6
The Road Explorer - Spring 2018 - Industry Voice
The Road Explorer - Spring 2018 - Issues Update
The Road Explorer - Spring 2018 - Marketplace 2017
The Road Explorer - Spring 2018 - Made to Measure
The Road Explorer - Spring 2018 - 11
The Road Explorer - Spring 2018 - Are You Ready for Windsor?
The Road Explorer - Spring 2018 - 13
The Road Explorer - Spring 2018 - Angel Tours & Entertainment Inc.
The Road Explorer - Spring 2018 - 15
The Road Explorer - Spring 2018 - The Strong National Museum of Play
The Road Explorer - Spring 2018 - 17
The Road Explorer - Spring 2018 - Travel Highlights Marketplace
The Road Explorer - Spring 2018 - 19
The Road Explorer - Spring 2018 - 20
The Road Explorer - Spring 2018 - Classifieds
The Road Explorer - Spring 2018 - Index of Advertisers
The Road Explorer - Spring 2018 - cover3
The Road Explorer - Spring 2018 - cover4
The Road Explorer - Spring 2018 - outsert1
The Road Explorer - Spring 2018 - outsert2
The Road Explorer - Spring 2018 - outsert3
The Road Explorer - Spring 2018 - outsert4
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