Insider Secrets to Successful Freight Brokering

Freight Broker Trust Fund

Normally, getting a freight broker authority is quite simple and fast. The one area where there might be any hangup is in showing evidence of the $10,000 trust fund or surety bond.

Now, some individuals put up their own $10K in which case, there is no credit check. But if you are looking for a financial organization to put up the $10K for you, you need to have "very good" credit. Otherwise, you may be making a deposit and paying in so much per month to build your own trust fund.

Here is the thing: if you are being subjected to a credit check, the financial organization will look to an individual and not to the business entity. The individual should be working in the freight broker company and could be either the sole proprietor or an officer of a corporation.

There are some other angles and if you have questions, give me a call at 1-888-526-ATEX (2839).

Freight Broker Resources

When you get into freight brokering, you go at it with an entire arsenal of resources. You have to know a lot before you contact willing shippers and carriers. Otherwise, you are presenting yourself as one ignorant entity.

One resource that has made some recent upgrades is TransCore 3 Sixty Express. This is a load board resource that includes a whole lot more.

Their TruckLoad Rate Index will give you the going rates around the country for both contract rates and spot rates. They even provide Short Haul rates.

Go here to learn more and start browsing this great resource: TransCore TruckLoad Rate Index.

Freight Brokers, the Economy, Adam Smith & Obama

So way back in 1776, Adam Smith introduced the concepts of "self interest" and the "invisable hand". He saw economic activity where each business owner pursued his or her own dream. The butcher, the baker, the candlestick maker, and throw in the freight broker for good measure - they all were free to follow their dream.

They were able to increase their business in the measure that they provided value to others. The more they were able to provide solutions and satisfy needs, the more their business grew.

There was no central planning or centralized government directing who was going to produce what goods and services and who was going to reap the benefits. So, economic activity was able to flourish as if there were an "invisable hand" directing everything.

Yet, there are many countries, including some segments of our society, that feel economic activity needs to be planned, directed, regulated and controlled. There IS a necessity for some of these controls and, essentially, it boils down to the question - how much intervention is needed without destroying the option for individuals to "follow their star"?

So, stop and think. Do you know someone - maybe it is you - that is following a dream to provide a service or product and the results are self-satisfaction for those expressing their self interest and a better lifestyle for those receiving the benefits of those services and products?

It is fascinating and we will look at this some more in a future post.

The New Debt "Deal"

The new debt deal is a problem. It is just a "deal", not a solution.

There most likely have NOT been any structural changes put into place to give encouragement that a long-term solution will be guaranteed.

The credit agencies like S&P and Moody's may act as soon as today to start downgrading our debt.

The spending cuts are not deep enough for them; but more importantly, it seems to be "business as usual" at Capitol Hill.

It is sad and it is scary.