Building a Successful Company

 

Plan for start-up cost

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1. Have a plan for cash flow - consider a factoring company.  If you're dealing directly, many brokers or shippers will pay invoices within 30-90 days.

2. Plan to have a maintenance escrow account for general maintenance and repairs; breakdowns will happen.

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Avoid buying the newest equipment

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  1.  Expensive- very costly to maintain 

  2.  High insurance premiums and newer equipment have more technology than older models.

  3.  Older models are less costly to repair.

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Vet Drivers and Owner - Operators

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1. Most Important- vetting drivers and owner-operators will save you money, and you will avoid a compliance headache.

2. Safety-knowing who is driving for you or under your authority can and will affect your safety record and CSA score; having a good driver with a good safety record is the most important factor I can not stress enough.

3. Clearing house - having your driver(s) cleared through the clearinghouse saves you underlined issues that your driver may not have disclosed by just giving you an MVR.

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Be Persistent in building your business.

 

1. Love what you do

2. Follow up on potential clients

3. Listen to clients' needs 

4. Be available to help resolve issues quickly and always smile.

 

Financial Responsibility 

 

1. Financial stability is priority  #1

2. Have an accounting software

3. Hire an account

4. Get an attorney to handle any legal issues that may arise

5. Keep your company on a budget