Tips to Grow Your Business
For many, starting your own business is considered the American dream. It is the opportunity to be your own boss and grow something that you can call your own. The Transportation industry is full of opportunity and Priority1 offers those with an entrepreneurial spirit the chance to start or scale their very own logistics company. We not only provide a platform for this opportunity but one with the service and expertise needed to make it a success. Here are some tips on how to grow your new or existing logistics business:
Partner with the right people: In order to gain access to competitive pricing, a TMS, and a support system, you will likely need to form a partnership with an established 3PL. Make sure and do your due diligence on this company as discussed in one of our earlier blogs: “How Your 3PL’s Back-Office Support Can Make or Break Your Business”. This will allow you to focus on revenue generating tasks with new and existing customers.
Train and develop talented employees: Once you hit certain thresholds, you will need to hire sales and/or operations people in order to not plateau. Identify which is needed and focus on getting that new employee ramped up as efficiently and effectively as possible. A good operations person will allow you and your sales staff to not get caught up in the day to day, which should translate to you bringing on more new clients.
Establish solid client relationships: One of the easiest ways to add more business is through existing clients. Establishing relationships on both a personal and work level can often lead to additional opportunities. When your client sees you as more than just a price, you open the door for additional business and referrals.
Set obtainable goals and expectations: Acquiring new business is a numbers game. Know how many calls, shipments and customers that your company should be bringing on per week and month to keep a growth trajectory. Block off time each day to ensure you spend it focused on prospecting for customers.
Limit your risks: One of the fastest ways that your business can take a big hit is from bad debt. It is always disheartening when you find a new client and they come back with little, bad, or no credit. Make sure you still make a good business decision and always remember there are plenty of great customers out there just waiting to be found.
By: Adam Hooker, Director of Agent Development