Insider Secrets to Successful Freight Brokering

"If I Were a Rich Man ....."

Some of you may know or remember the musical, "Fiddler on the Roof" where a poor Jewish peasant sings his thoughts of being a rich man. He could have so much more. He could provide more for his wife as well. He could even spend more time in the synagogue worshipping God if he did not have to spend so much time working.

My guess is that most of the readers here are not as rich as what the poor Jewish peasant had in mind. (There may be exceptions, of course). But why waste your time wishing you were rich?  That's a dead end. Probably no rich person ever said, "That's enough. I have enough". No, the quest for fortune never fulfills itself.

Rather than wish you were rich, think about wishing you were wiser ..... or wishing you could make better decisions. Let me tell you, I get so excited working in these industries .... freight, trucking, brokering. They are coming alive again.

Just today an article pointed out how freight is picking up so much so that the problem will be finding enough trucks to move it. Here is where a wise person can take charge.

If you have a truck or a fleet of trucks and you are not putting these assets into overdrive by becoming your own broker, you are missing the boat (or truck). If I were 30 years younger, I'd buy a few trucks and get my broker authority quicker than you could say "flap jack".

Now, a wise person will heed this especially if he or she owns trucks. Be wise, make good decisions and THEN watch the money roll in without your having to sing or wish for it.

"Gimmie Your Back Haul Rates" - Part I

I have a lot to say about giving quotes, or rates, to shippers in my training. There may be some confusion surrounding all of this "rate" stuff. But, when a shipper asks you for your "back haul" rates they may as well ask you for the "down and dirty lowest rate that a desparate truck driver will take".

Again, there may be some confusion around all this with number one being: 1) it makes a whole lot of difference if you are giving rates to set up a contract for a dedicated number of loads versus giving rates for spot loads around the country.

This is something of importance to both truckers and freight brokers. In Part II, I will continue this.

What's It Like for You?

I'm kicking back for a few hours this weekend and next to absorb some NCAA basketball. I love it. My favorite team got sent home early on - so the real passion is not there like it could be. And, yet, prior to each game I watch, there is a thrill - however small - that engages me prior to tip off. And it grows into more and more excitement as the game goes on.

Yet, this thrill, this excitement during basketball is not even close to what I felt when my oldest grandson played high school football. He played in three Illinois state championship games.

Let me tell you, when he ran the ball there was electricity running through my veins. My heart pounded like a heavy sledge hammer slamming against a brick wall. Sometimes, it was almost too much to bear. I felt I might have a heart attack at any moment. And what a sense of relief when he completed a spectacular play. Wow. Those were the days.

The entire team was super spectacular. The home town fans went crazy at every game. When they opened the gates to the stadium before game time, there was virtually a buffalo stampede to get the best seat in the bleachers. Most of my friends would have pushed their own grandma off the highest bleacher seat just to get where they wanted. Course, I'd never do that - but they would have (and maybe did).

Can you identify with any of this? Maybe, maybe not. Especially if you are not into sports.

But, let me tell you another thing: starting a business should have a similar thrill running through your body. You should feel your heart pounding at times. Your mind should go in swirls at times as you think of all the work and the potential for great rewards. Yes, starting a business should grab you by the nap of the neck and jerk you around at times where you have to jump out of bed early every day and get at it.

I live these thrills with my clients. I feel their passion and it impassions me. I have trained a LOT of individuals over nearly 8 years. And with each one, it's like starting over again and helping them build a bridge to their own personal dream. It is a thrill for them, and it is a thrill for me with each one I work with.

I'd like YOU to experience your own thrill. Come and share it with me. Let me help you build that bridge to your future success. I have been so blessed working with so many people and playing a small part in their lives.

If you are ready to take advantage of an opportunity that our great country provides, do a "passion check". Some day or evening when you are home alone, relax in your recliner. Let your mind focus on some positive thoughts. Think of what makes you happy, successful and fulfilled. Let your mind wander until you touch upon something that REALLY strikes a nerve. You will get this particular thrill that starts to ignite a little flame in your soul.

Here is where you want to stay focused. Here is where you want to start taking some action to fan the small flames that seem to grow and grow as you focus on your passion.

For some of you, this might seem like hogwash. Maybe it is. But I know many of you can identify with this. Follow your passion, start the flame - then keep it going and don't let ANYTHING get in its way.

Believe me, EVERY week I get at least one phone call from an impassioned person who, for some reason, can't pull the trigger. It's a shame because they may never experience the true excitement of having their own freight broker business.

Don't let anything stand in your way once your soul is ignited.

 

Got a Mac? No Problem!

I used to advertise that our training manuals won't work on Mac computers. This has changed after some upgrades. The training manuals are in exe files and a good number of clients have already been trained on their Mac.

Got any questions? Give me a call at 1-888-526-ATEX (2839)

Your Business Name

You most likely will start your business as a sole proprietor, a corporation, or a partnership. In either case, you need to select a business name that is available. For a sole proprietorship, you normally would file an assumed name application with the county clerk.

Sometimes you can do an online search with the county clerk's database to see if your desired name is available. Otherwise, you may either call them or pay them a personal visit. It usually costs just a few bucks to file the application.

For a corporation, you would normally search the secretary of state's database to make sure your desired name is available. Once you find a name that is available, go ahead and file your corporate papers to secure the name.

Let me tell you, for most corporations, the filing process and fees are quite easy and affordable if you don't go through an attorney.

In the next post, we will discuss the form of doing business and whether you need an attorney or not

By the way, in my training with one-on-one unlimited support, I help you do all this over the phone and Internet. Most of my clients are so happy and relieved with the help.

 

How Quickly Will You Get Paid?

Cash management skills are extremely important for freight brokers maybe moreso than for most other businesses. This is because you normally pay the truck before you collect from your customer. Thus, a gap exists between the time you make pay outs and the time you receive cash.

If this gap widens and snow balls out of control, good luck to you.

Here are the some steps to take that will help you get off on the right foot. One, as you are calling on prospective customers, ask the shipping manager how quickly does his or her company normally pay freight brokers. Two, write it down.

Then three, If you do work with that shipper, compare what they told you with what actually takes place. If there is any big discrepancy, get back with the shipping manager.

No matter how badly you want to start working or continue working with a customer, if they are sitting on your money, you might have to fire them.

There are other precautions and techniques for managing your cash. I'll bring these up in other blog posts.

 

What Is Your Obligation .....?

You first will send your set up package to shippers before you begin working with them. Once sent, you are ready to rock and roll. In the beginning, you will be doing the calling as you seek loads. After you have worked with shippers and have gained their confidence, they will start calling you. It's nice.

Here is a question that frequently arises: if you take an order from the shipper, are you promising to find a truck? What are you obligating yourself for?

The answer is, No, there will be times when you are unable to find a truck. In fact, for some brokers, finding trucks is more difficult than finding loads. Nevertheless, you do what you can do and what you can't do you don't fret about except - you continuously build your database of carriers as well as shippers.

In our training, we hit em both - finding good paying loads and then finding good, reliable carriers. It is both an art and a science and we will show you how.

Check out several of the freebies on this blog if you have not done so already.

Is Free Stuff Really Free?

Be very careful when you read the word "Free". Some freebies come with a price. It's not that there are hidden fees. The fact is, many freebies are advertised as some type of service, and let me say this.

If a service that you would normally pay for is advertised as a freebie - watch out. You may get what you pay for in this case - and that would be nothing. However, if information is available as a freebie, that may be a different story.

Any good business that has any marketing savvy should provide some information as freebies. If not, they are NOT willing to give something to you first. They expect YOU to pay for something first. That's just not a good way of doing business.

Bottom line - look for freebies but expect to get just good information. Do not expect the freebie to provide "how to" details on a particular service.

What About Nuclear Safety?

The terrifying and devasting tsunami and quake that hit primarily Japan has had, and will have, far reaching consequences. In addition to the loss of lives and the fact that the the lives of survivors will never, never be the same, Japan and the world are facing danger from one (or several) nuclear reactors.

This is unfortunate because, in my opinion, nuclear development in the USA will be more difficult. We haven't had a nuclear facility since Three Mile Island. And the urgency to get the nuclear progran back on track will only be delayed.

Japan has over 50 nuclear reactors that supply about 1/3 of their energy needs. The don't have the natural resources available to create their own energy base. Nuclear is the only way to go for them.

China is planning over 30 (if I'm not mistaken) nuclear reactors.They may have natural resources to exploit but I'm not sure they have the infrastructure and technology to bring these resources on board to provide energy for their billions of people.

Here is somethng to remember - in my reading about alternative energy sources, I have learned that the safety factor has been mitigated immensely since Three Mile Island. The potential for another disaster has been greatly lowered despite what is going on in Japan.

I encourage you to do you own research regarding the issue of nuclear energy. Your kids and grand kids may benefit if you can shed some light on them as to the real potential for nuclear development. There is nothing like impartial and accurate research, learning the real facts and then disposing of any unfounded fears that many people have including those in our highest positions in government.

Where Can You Learn It "All"?

Time and time again, I get comments from individuals who purchase and attend 1-Day training sessions or relatively inexpensive materials. There is nothing wrong with this EXCEPT .....

These individuals express their dissatisfaction because they did not learn enough to become a freight broker. Well, surprise, surprise. These short-end and introductory informational formats are not meant to teach you all the nuts and bolts of brokering.

If you think you can learn to broker freight from these offerings and run a successful business, good luck. They just don't hack it. I, myself, have some free and/or low-cost materials. These are meant to introduce you to the industry and to myself without having to pay a lot of money to find out what it is like.

Let me make a bold statement - my training with the materials, handouts, videos, one-on-one attention, gobs of resources, and unlimited support after formal training is the best you can buy for the money AND better than some of the more expensive programs. Period.