Luke Smith is President of MVTRAC, a leading provider of geospatial analytics and workflow management tools for the auto-finance, insurance and auto-recovery industry. When faced with the recession, MVTRAC was stuck in a market that saw its value decreased by over 40 percent, forcing Luke to learn to adapt. Through reductions in staff and investments in new technology, Luke was able to manage his company despite the challenges.
In being a leader, it is often difficult to delegate responsibilities and not have a probe on every task operating within the business. For Luke, learning to give more responsibility to his employees and empower them to complete tasks at a high level of quality was the key to success. Delegation of tasks limits distractions for the leader of a business, ultimately allowing for more focus on reaching short and long term goals.