Managing Change Through Financial Diversification

Wood blocks with percentage symbol on heap coins stair, increase percentage on increase moneyAs an industry, we have been positioning ourselves for disruption for several years. How would we respond to impacts from micro-mobility, ride-share, and ultimately autonomous vehicles and the impending changes to parking demands and activity? In the years leading up to 2020, we spent considerable time and brainpower thinking about how to adapt management, operations, design, and implementation of parking as a means of responding to these disruptions and maintaining sustainable operations moving forward. And then spring 2020 happened and everything was turned on its head.

In the current issue of Parking & Mobility, Brett Wood, CAPP, PE, looks at what we learned during COVID-19–and one of the biggest lessons is ensuring financial diversity in parking and mobility operations. Diversifying revenue streams, he writes, can future-proof organizations against challenging times ahead. Lots of lessons and things to think about–get them here.