Consider joining trade groups such as the Transportation Intermediaries Association (TIA,) the Better Business Bureau and others. As a member of these organizations, you are showing the business world that you operate by a code of ethics. The benefit to you is that it adds credibility to your business and gives your shippers and carriers confidence in dealing with you. Make sure these organizations are listed on all of your materials, from your business cards to your website. We know that your business depends on quality reliable shipping, and that's why we strive to provide the highest level of customer service possible. We treat each shipment with the same level of importance as if it were our very own. In fact, we've dedicated ourselves to extensive market surveying so that our customers are assured of the best possible rates! We do all of this so that when you use LoadPilot Freight Broker Software you can rest assured that you've received great service at a great price.
As time goes by, and you become more established, you'll be moving more and more loads. While it may be easy to keep track of everything when you're just moving a few loads at a time, what happens when you're moving 30 or 50 a day? If you're just scribbling down the information on a yellow pad, you're in trouble. Your goal should be to communicate constantly with your carriers.
Here's what to do. Buy an inexpensive computer, a high-speed internet connection (DSL or Cable) and good freight brokering software (such as LoadPilot,) then learn to use it. It's best to do this when you're first starting out, so you're doing it right from the beginning. Prolonging the purchase can lead to bad habits that are hard to break, and will just make it that much harder to make the transition later on. A good software will help you keep track of pick-ups dates, drop-off dates, which carriers are working which loads, pick-up and drop-off confirmations, posting loads to load boards, etc. In general the software will help manage most of the more tedious work for you, freeing you up to bring in more business.
And remember to always save copies of all correspondence in digital or hard-copy. A verbal agreement over the phone isn't worth much!
First of all, admit that you don't know everything and assume you don't know enough. For instance, did you know it's illegal to inter-mingle your freight brokerage and trucking company? The fact is, the most successful business leaders in the world are constantly seeking information and learning more about their industry and business in general.
Bill Gates, the richest man in the world and founder of Microsoft is a voracious reader, always improving upon his ability to run his corporation. When asked what kind of superpower he would like to have, he replied "the power to read super fast." He understands the value of knowledge. Unfortunately, four out of five new businesses fail in the first two years. Why? The answer is simple. They don't know how to run a successful business. There are countless stories of people who had fantastic products or services that failed, simply because they didn't understand the business side of things. You need to understand how to manage money, manage people, keep track of financial information, and make smart business decisions. The right freight broker software will greatly help you in this area, but you will still need to seek out more information. Read current books about running your own business. Study the industry. Take a freight broker training class from a reputable school. Read transportation-related news, and do whatever you can to understand YOUR industry. Self education is probably the most important key to success.
Notice the recurring theme here? Unfortunately in the brokering industry, there are a lot of fly-by-night operations. They close up shop just as quickly as they open their doors. The reasons often include lack of motivation, bad business practices and questionable integrity. Of course the brokers with questionable integrity tend to also lack motivation and use bad business practices. Many lack the ability to run a legitimate business so they look for the fast way to a fast buck. Don't be one of them. Your goal should be to build an on-going relationship with both shippers and carriers. It may be a little more work to do things the right way, but it'll pay for itself 10 times over in the long run. You want to become the "go-to-guy" your clients and carriers trust to get the job done right.
Sometimes when a shipper requests a quote, he may just be fishing around to figure out what he should charge for that load. Or sometimes he may just put your quote in a pile of other quotes, and you never hear from him again.
So here are some suggestions to avoid wasting time putting together quotes that never go anywhere.
Before quoting, ask these questions:
1.) What type of equipment do they need?
2.) How often are loads available (every day, every week, every month?)
3.) When will they be deciding who to give the load to?
And if they tell you your quote is too high:
4.) Ask what they're willing to pay. If it sounds reasonable, and you can still profit from it, take the load. Then go back to the carrier and see if they are willing to flex on their end too. This way you and the carrier absorb the lower rate together and everyone still profits.
This is a big one. As a freight broker, a big part of your job is handling paperwork. If a lot of it seems like the same thing over and over again, that's because it is. So the faster you can get paperwork done, the more loads you can move, and the more money you can make.
The solution is to automate. Good freight brokering software takes care of many routine tasks, thereby helping you get a lot more done in less time.
Your best bet is to find web-based software as opposed to software that you actually install your computer. Internet or "web-based software" is a new concept developed in the past few years. As the moniker implies, you access your software program through the internet. So instead of being installed on your computer, the software is installed on a large, secure server located in a secure location, and your information is automatically backed-up every night.
Benefits of web-based software over standard software include:
1) If your computer dies, you won't lose any important data;
2) You don't have to buy any expensive software upgrades – ever;
3) You can do business from anywhere in the world; you only need an internet connection.
Probably the most widely-known and fastest growing of the web-based freight broker software programs is LoadPilot (www.loadpilot.com.) Special features of this program include the ability to send and receive faxes right from the program, posting to the most popular load boards with the click of a button, 140,000 carrier database, online video tutorials, automated invoicing, automated rate confirmations, etc. But regardless of the program you choose to run, make sure it also gives you the ability to manage your agents as your business grows.
Here's to your exciting and prosperous future!
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