Rocky12345667/How-to-grow-transportation-business

How does one grow a transportation business? Well, welcome and thanks for clicking on the link. and i am going to go through a couple of great points today that will mention that. Right now, the transportation business is completely rocking. Between Amazon and every one the opposite online ordering, it's just a booming business. We've been helping plenty of transportation owners grow and there are a few really great points that I would like to talk about today that hopefully can help you grow also too. So, the primary point that I would like to form. And this is often for... It can be for any business owner but really important in your transportation business. Any industry. You actually need the right processes in situ especially in the transportation business. Between the service, the upkeep of the trucks, the fuel. there are a lot of expenses and that they can really get out of hand if you do not have the proper systems in place. There's this awesome book that I read years back that helped me grow from about i do not know 8 or 10 employees to 100 employees. And it's called the E-Myth Revisited. By Michael Gerber. It's probably one among the best business books out there. It's a must read. If you're having challenges with processes and systems in your place. it isn't specific to the transportation business but they'll give you a thought of what I'm talking about when I say you actually got to put processes and systems in situ. I'm not sure if you own 1 truck, 5 trucks, 10 trucks or 20 trucks. But you recognize, right now in the least levels, people within the transportation business are really killing it. There's an abundance of work. There's not enough. There's not enough trucks to travel around. There's not enough drivers to travel around. So there are a lot of things happening therein space where I can see that there are often a number of various challenges. And you know, what do I mean by putting up processes in place? Well immediately it's really hard to urge drivers. So, you bought a process in situ to rent and train drivers. How are you going to get new drivers? There really isn't a shortage in work. So, it's really finding the proper drivers and putting crosses in situ to coach those drivers. So, you know, a process of when anyone new comes into your company, there's a mapped out process that goes through on how they are doing everything, how they operate your trucks. What is the procedure? What's the service procedure? What is a protocol? All that must be planned out so you can have the power to rent people either in volume or if you lose someone, be ready to replace that person right away and everything on what they're supposed to do is document it from. However they're alleged to act when they're delivering products and goods. Every little step of the way must be mapped out. You know, another thing that's important is that if you're doing everything in your business from the payroll to the back-office, you actually need to put processes in situ around that. Because if you're stuck therein day to day of every, you know, every a part of your business and each a part of the operation, it's getting to be really hard for you to grow. albeit I handed you all the business within the world immediately. If you don't have the method in situ and you don't have the proper people in situ, then you're never going to be ready to book that business and bring that revenue. And you absolutely fail. It'll actually be worse than having less business. Read that book and I'll really assist you understand it further. It's probably a number of the simplest advice I can give that any business owner within the industry. So, the second point that's really important is capital. And financing your transportation business. It is so important to actually understand financing and the way to use it and use it as leverage to grow your business. tons of individuals get scared to borrow money but the reality is that when you're growing your business and if you're growing quickly, you're going to wish. You are going to wish money to grow. and there is nothing wrong with utilizing funds to grow your business. As long as you're utilizing it within the right way. I see a lot of business owners lay out money for trailers or trucks. Right out of their cash flow. Which to me makes no sense. There's a lot of great equipment financing and Leasing products out there where you'll finance or lease a truck over 5 years and not need to pull the money out of your income. But on top of that, there is a thing called section 179 that you simply are ready to finance or lease a bit of kit whether it's a track or trailer or both. then depreciate that equipment year one. Almost all of them. Almost the entire value of that equipment. So year one, you can finance it. Use someone else's money to buy that truck then depreciate all that equipment. So if you buy a $100,000 truck, year one you can finance it. Use someone else's money and gain that hundred thousand dollars most of it as a write-off. Which is simply unbelievable. So it's something that basically gets overlooked by a lot of transportation companies. They just do not know it. And tons of times your accountant doesn't even point this stuff out. So, definitely speak to your accountant about this. But there's. That's a really awesome thanks to utilize and leverage what you bought happening in your business and grow without ripping money out of your income. So, so as to grow your transportation you're going to need more trucks. So watching some equipment financing options that are out there's getting to be super important so you'll buy more trucks to do more business. Hiring drivers goes to be a requirement and you would possibly need some financing for that. Business financing is strictly what I do. We've actually provided a billion dollars in financing to all or any sorts of businesses across the country over the last 10 plus years. Thousands of transactions, thousands of these customers were transportation owners. Transportation business owners. And what I see is a really big challenge is people come to me they're like I can. I've got 2 big clients I can combat whether it is a Walmart or an Amazon. Or Amazon wants to give them more business. and I am just using those as examples. but tons of people can't combat more clients because they do not have the capital in order to try to do so. as you recognize within the transportation business, you know, If you take on more business, you've got to lay out the cash for fuel then the drivers, so payroll, maintenance, service. and then you are doing all of that then you invoice someone you get paid 30 days later. if you're lucky, it always winds up being 45 or 60. A number of the large businesses now I've heard are paying people in 60 and 90 days. So, that can really make them put a serious cash crunch into your income. So, there are a lot of different programs available. all of the transportation industry has heard of factoring programs. a number of those programs are great, a number of them can get really expensive. and truly be harmful to your business. There's. What's awesome is there's some new products available that are. AR. AR lines that use your account receivables and you can use it sort of a fluctuating credit line. The rates are rather well. Much lower than the factoring deals that are out there. And it gives you the flexibility to possess money available as soon as you invoice someone. So if you invoice someone today, you'll literally have 80 to 90 percent of that invoice in your checking account tomorrow. During. All online, all simple. No sending invoices in. They're non notification so your clients never know that you're using financing which may be a big deal in the factoring space. Tons of these products notify your customers which I can completely understand that you simply wouldn't want to try to. So there's some really cool different financing products out there that are available and tons of people actually prevent themselves from growing because they're afraid to seek out financing. And for whatever reason, there's almost this negative connotation on financing and borrowing money. If you're using financing within the right thanks to grow your business, You can leverage the heck out of your account receivables and your business so as to finance more trucks and convey them more clients and fast and fast forward your path to growth and success. Thanks for tuning in, and be sure to comment below and subscribe to this blog, have an excellent day.

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