Building a Successful Company
Plan for start-up cost
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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.
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Plan to have a maintenance escrow account for general maintenance and repairs; breakdowns will happen.
Avoid buying the newest equipment
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.
Vet Drivers and Owner - Operators
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Most Important- vetting drivers and owner-operators will save you money, and you will avoid a compliance headache.
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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.
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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.
Be Persistent in building your business.
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Love what you do
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Follow up on potential clients
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Listen to clients' needs
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Be available to help resolve issues quickly and always smile.
Financial Responsibility
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Financial stability is priority #1
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Have an accounting software
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Hire an account
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Get an attorney to handle any legal issues that may arise
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Keep your company on a budget