Several weeks ago I did a survey asking people if they had one particular question. About 60% of those responding to the survey did have a question. Here is one:
"What would make the freight broker business fail and why?"
Here is my answer:
There are several things in my opinion that would cause one to fail. Here are
several,
1) Lack of understanding the nature of a service-oriented business
2) Lack of knowledge on the details of freight brokering
3) Trying to go it alone without knowing the sequential procedures
4) Lack of marketing knowledge - knowing what is realistic and workable
5) Lack of capital to carry your living expenses until you get established
6) Misconceptions and errors in thinking - such as thinking you should wait until customers call you
7) Not understanding that a freight brokerage is a business
8) Violating or ignoring fundamental business principles such as cash management, marketing, planning and setting up operations
These are just several that come to mind. I'm sure there are others as well.
I did not elaborate on the "why". That would involve writing a small report (which I'd like to do at some point).
Comments