Bill Lerner On Developing a Family-owned Business
May 12, 2019
The family enterprise was established under the name of Lerner Parking Services by Bill Lerner’s father in the 1960s
New York, NY - May 12, 2019 /MarketersMedia/ —
Thanks to his 4 decades of experience, Bill Lerner transformed iPark, his family’s business, into the main operator and owner of parking facilities in New York. iPark was created under the Imperial Parking Systems name and managed to revolutionize the industry through its customer-centric environment and by adopting the newest technologies. Under his leadership as owner and CEO, the company is set to continue growth and to expand into markets outside of the New York metropolitan area, paving the way into a national industry key player.
The family enterprise was established under the name of Lerner Parking Services by Bill Lerner’s father in the 1960s who ran a gas station on Center Street and saw a market opportunity in the increasing need for parking space for people who commuted by private vehicle to work in New York during the day. Once created, the business grew in parallel with the growth and expansion of the city. When Bill took over operations from his father in 1978, the company had 12 parking garages across the city and has since expanded to over 130 locations. To support the customer experience and to contribute to eco-friendly practices, iPark have partnered with Tesla Motors, Inc. and CarCharging to bring charging stations for electric and hybrid cars to over 30 garages. Computerization, passion for business, strategic planning and most importantly the dedication to provide the best service to customers have been fundamental elements of this success.
According to a Harvard Business School study, 70% of family-owned businesses are sold or fail before ever getting a chance to be handed over to a second generation. One of the main reasons is typically the fact that these type of enterprises are run by the same individuals for a long period of time and as a result are no longer able to adapt to changing shifts in customer behavior, technological progress and the ever so evolving competitive business environment. To compete in the parking industry under these conditions, Bill Lerner had to quickly adjust to being proactive, multi-faceted and to maintain a clear vision for the company’s growth. At the core of his strategy was developing a company that provides the best possible customer care experience using modern day technologies, values its staff and showcases exemplary work ethics. Mr. Lerner attributes his success to his father’s instinctual ability to understand and identify trends directly affecting the industry and instilling in him the idea that “being prepared, and avoiding conformity and complacency, were key to business survival”.
Bill Lerner graduated from the University of Colorado with a degree in Business, before officially joining the family business. In addition to being a successful entrepreneur, Mr. Lerner has established an award winning charitable organization, Billy4Kids, working to provide shoes to underprivileged children from across the world to foster a safer environment to live and play.
His achievements as an entrepreneur and devotion to charitable work has been previously featured by CNBC, The Atlantic, Radio America, 33 Voices and Leaders Magazine among others.
Bill Lerner - President and CEO of iPark: http://billlernernews.com
Billy Lerner (@billy_lerner) - Twitter: https://twitter.com/billy_lerner
Billy Lerner - Home - Facebook: https://www.facebook.com/billylernerofficial/
Contact Info:
Name: BLN
Email: Send Email
Organization: BillLernerNews.com
Website: http://billlernernews.com
Source URL: https://marketersmedia.com/bill-lerner-on-developing-a-family-owned-business/511227
Source: MarketersMedia
Release ID: 511227
More News
Geopolitics Looms Over Eurovision, but Not Its Asian Edition
So far, the contest’s organizers have kept politics offstage. The European edition shows how difficult that can be.
He Was China’s Man in Panama. Then He Became a Wanted Man.
A Chinese businessman arrived in Panama with money and power. Then he sold a port when his luck turned. Now China wants him sent back.
India’s Bollywood boosts security as fears of criminal gangs rise
It sounds like a Bollywood thriller, but a spate of shootings and extortion threats targeting Mumbai’s stars has sent the industry scrambling for bodyguards, reviving memories of the underworld’s grip on cinema in the 1990s. From gunshots to cash demands, the incidents have unsettled the Indian industry, decades after police crackdowns weakened the criminal gangs once deeply embedded in the multibillion-dollar business. Police have linked the latest violence to the gang of Lawrence Bishnoi, a...
Indonesia’s commodity export U-turn: no monopoly, just all the data
Indonesia has abandoned plans to make a powerful new state-owned enterprise the “sole exporter” of its palm oil, coal and ferroalloys, in a move that has reassured some businesses, even as questions over oversight and pricing remain. President Prabowo Subianto’s original proposal to tighten the government’s control over the three major commodities, put forward in May, had prompted speculation that state-linked companies could gain an unfair advantage through access to commercially sensitive data...
Trump to Meet With Putin and Xi in China, With Nuclear Proliferation on the Agenda
The president plans to also discuss the war against Iran, but is not expected to bring up Russia’s war in Ukraine or the scandal that has engulfed Jensen Huang.
Malaysia’s Melaka election: Umno’s ‘blue wave’ wipes out Anwar’s PH
Malaysian Prime Minister Anwar Ibrahim’s ruling coalition is hurtling towards yet another drubbing on Saturday, as federal partner but state rival Umno claimed an early victory in the Melaka election barely two hours after polling closed. Saturday’s contest in the southern Malaysian state is the third between Anwar’s Pakatan Harapan (PH) coalition and Umno, which is gunning for a treble to boost its momentum ahead of national polls that must be called by February 2028. Umno president and Barisan...
Pax Silica means peace. In the Philippines, it’s a fight
Outside the Grand Hyatt hotel in Manila earlier this year, five people were arrested as hundreds of activists chanting “Junk Pax Silica!” clashed with anti-riot police. Inside, Philippine President Ferdinand Marcos Jnr hobnobbed with some 600 investors, industry leaders and officials at a US-sponsored forum, urging them to sink their money into the US-led scheme. The Philippines is planning to build a sprawling 1,620-hectare (4,000-acre) “Pax Silica” technology hub near a former American...
Nvidia Scandal Unleashes a Flood of AI-Generated Memes
The revelations surrounding Jensen Huang, who resigned from Nvidia over extramarital affairs, inspired social media posts using the very technology his company helped develop.
Trump and Xi Can Reopen Trade. But for Whom?
The narrative of easing trade tensions doesn’t tell us who reaps the benefits of these developments at the company level.
Will AI Change North Korea’s Nuclear Calculus?
Nuclear stability requires mutual vulnerability. Artificial general intelligence could upset asymmetric deterrence equilibria, especially vis-à-vis Pyongyang.
North Korea’s Last Defectors
Fewer people are making it out of North Korea. That allows Kim Jong Un to exert more control over his country’s image abroad.
Jensen Huang’s Fall Costs Asia an A.I. Ambassador to the U.S.
The ex-Nvidia C.E.O. was a bridge between companies and governments. His exit will reverberate, especially in China where it could accelerate a self-reliance drive.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.