Description

« My best way of learning is to fail»

This document is an interview with Eduardo Hernandez, the commercial manager at KeyGo Rent in Alicante. He discusses his career transition from the ceramic tile industry during 20 years to the car rental industry.

Hernandez explains that pricing in the ceramic tile industry is relatively straightforward, with price lists lasting for a year and prices remaining stable.

He contrasts this with the car rental business, which is much more dynamic, with prices fluctuating rapidly based on demand and market conditions. Hernandez emphasizes the importance of having a separate pricing department to manage pricing strategy and optimize revenue. « Used cars are like fishes: the more you keep them on the parking lot, the more it smells ».

He also discusses the significance of building a strong direct sales channel (35% of sales through the company's website generating double RPD), in addition to working with brokers. Hernandez highlights the need for efficiency in the car rental business, focusing on fleet management and pricing strategies to maximize profitability with the highest customer review possible (4,5). His yield management success factors are : define a strategy, set the good fleet (not to much) accordingly, price according to demand not to competition.

The key element is to be efficient. He also touches on the impact of technology and automation in the car rental industry, emphasizing the continued importance of human oversight and decision-making to boost the profitability of the company.
The interview concludes with Hernandez sharing his personal philosophy and approach to business, emphasizing the importance of strategy, adaptability, and continuous learning.

Eduardo shared his personal philosophy of continuous learning and drawing parallels between golf and life.

Chapters
0:00:00 Info about the major flood hit Valencia in October 24 (120000 cars destroyed)
0:09:10 introduction of Eduardo Hernandez who transitioned from the ceramic tile industry to the automobile and car rental industry.
0:15:30 Pricing difference between a tile business and car rental
0:30:30 How to improve utilization with a central pricing approach
0:47:20 Why quality in price and customer satisfaction is more important than a volume-only business
1:01:00 Key success factors generated by the yield management approach : change the way things are done and fight the resistance
1:25:00 How to learn more about yourself and the other while playing golf

References
https://www.linkedin.com/in/eduardohernandezmartin/
Key Go rent https://www.keygorent.com/es/principal/index
Dataseeker https://www.dataseekers.com/en/
WeYield https://www.weyield.io/

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