Well, welcome, and thanks for clicking on the link. And I’m going to go through a few great points today that will talk about that. Right now, the transportation business is absolutely rocking. Between Amazon and all the other online ordering, it is just a booming business. We’ve been helping tons of cargo transportation owners grow and there’s a few really great points that I want to talk about today that hopefully can help you grow as well too. So, the first point that I want to make. And this is for… It can be for any business but really important in your cargo transportation business. Any industry. You really need the right processes in place, especially in the transportation business.

Employees And Truck Information?

Between the service, the maintenance of the trucks, the fuel. There’s a lot of expense’s and they can really get out of hand if you don’t have the right systems in place. There’s this awesome book that I read years back that helped me grow from about I don’t know 8 or 10 employees to 100 employees. And it’s called the E-Myth Revisited. By Michael Gerber. It’s probably one of the best business books out there. It’s a must-read. If you’re having challenges with the process of processes and systems in your place. It’s not specific to the business but they’ll give you an idea of what I’m talking about when I say you really need to put processes and systems in place. I’m not sure if you own 1 truck, 5 trucks, 10 trucks, or 20 trucks. But, right now at all levels, people in the cargo transportation business are really killing it. There’s an abundance of work. There’s not enough… There are not enough trucks to go around. There are not enough drivers to go around. So there’s a lot of things going on in that space where I can see that there’s can be a number of different challenges. And you know, what do I mean by putting processes in place? Well, right now it’s really hard to get drivers. So, you got to have a process in place to hire and train drivers. How are you going to get new drivers? There really isn’t a shortage of work. So, it’s really finding the right drivers and putting crosses in place to train those drivers. So, you know, a process of when anyone new comes into your company, there is a mapped out process that goes through on how they do everything, how they operate your truck.

What’s the service procedure?

  All that needs to be mapped out so you can have the ability to hire people either in volume or if you lose someone, be able to replace that person right away and everything on what they’re supposed to do is document it from. Every little step of the way needs to be mapped out. You know, another thing that’s important is if you’re doing everything in your business from the payroll to the back-office, you really got to put processes in place around that. Because if you’re stuck in that day to day of every, you know, every part of your business and every part of the operation, it’s going to be really hard for you to grow. Even if I handed you all the business in the world right now. If you don’t have the process in place and you don’t have the right people in place, then you’re never going to be able to book that business and bringing that revenue.And you absolutely fail. It’ll actually be worse than having less business. Read that book and I’ll really help you understand it further. It’s probably some of the best advice I can give that any business owner in the industry. So, the second point that’s really important is capital. And financing your cargo transportation business

However, they’re supposed to act when they’re delivering products and goods.

It’s so important to really understand financing and how to use it and use it as leverage to grow your business. A lot of people get scared to borrow money but the truth is is that when you’re growing your business and if you’re growing quickly, you’re going to need… You’re going to need money to grow. And there’s nothing wrong with utilizing funds to grow your business. As long as you’ reutilizing it in the right way. I see a lot of business owners lay out money for trailers or trucks. Right out of their cash flow. Which to me makes no sense. There’s a lot of great equipment financing and Leasing products out there where you can finance or lease a truck over 5 years not have to pull the money out of your cash flow. But on top of that, there’s a thing called section179 that you are able to finance or lease a piece of equipment whether it’s track or trailer or both. And then depreciate that equipment year one. Almost all of the… Almost the total value of that equipment. So year one, you can finance it. Use someone else’s money to buy that truck and then depreciate all that equipment. So if you purchase $100,000 truck, year one you can finance it. Use someone else money and gain that hundred thousand dollars almost all of it as a write-off. Which is just unbelievable. So it’s something that really gets overlooked by a lot of transportation companies. They just don’t know it. And a lot of times your accountant doesn’t even point this stuff out. So, definitely speak to your accountant about this. But there’s… That’s a really awesome way to utilize and leverage what you got going on in your business and grow without ripping money out of your cash flow. So, in order to grow your transportation is you are going to need more trucks. So looking at some equipment financing options that are out there is going to be super important so you can buy more trucks to do more business. Hiring drivers is going to be a must and you might need some financing for that. Business financing is exactly what I do. We’ve actually provided a billion dollars in financing to all types of businesses across the country over the last 10 plus years. Thousands of transactions, thousands of those customers were transportation owners. Transportation business owners. And what I see is a real big challenge is people come to me they’re like I can… I’ve got 2 big clients I can take on whether it’s Walmart or an Amazon. or Amazon wants to give them more business. and I’m just using those as examples. but a lot of people can’t take on more clients because they don’t have the capital in order to do so. as you know in the transportation business, you know, if you take on more business, you have to lay out the money for fuel and then the drivers, so payroll, maintenance, service.and then you do all of that and then you invoice someone you get paid 30 days later. if you’re lucky, it usually winds up being 45 or 60. some of the big businesses now I’ve heard are paying people in 60 and 90 days. So, that can really make them put a major cash crunch into your cash flow. So, there are a lot of different programs available. Every one of the cargo transportation industry has heard of factoring programs. Some of those programs are great, some of them can get really expensive. And actually be harmful to your business. There’s… What’s awesome is there are some new products available that are… AR… AR lines that use your account receivables and you can use it as a fluctuating credit line. The rates are really well. Much lower than the factoring deals that are out there. And it gives you the flexibility to have money available as soon as you invoice someone. So if you invoice someone today, you can literally have 80 to 90 percent of that invoice in your bank account tomorrow. All through… All online, all simple. No sending invoices in. They’re non-notification so your clients never know that you’ reusing financing which is a big deal in the factoring space. A lot of those products notify your customers which I can completely understand that you wouldn’t want to do. So there’s some really cool different financing products out there that are available and a lot of people actually prevent themselves from growing because they’re afraid to seek out financing. And for whatever reason, there’s almost this negative connotation on financing and borrowing money. If you’re using financing in the right way to grow your business, you can leverage the heck out of your account receivables and your business in order to finance more trucks and bring them more clients and fast and fast forward your path to growth and success.