Freight Broker Boot Camp Audio Experience

Topics Discussed: 5 Ways to Develop Strong Carrier Relationships

1. Paying carriers on time
2. Be clear in communicating details of the loads
3. Invest time with your carrier partners
4. Say thank you
5. Reward those who go above and beyond

Timestamps:

[00:14] Five ways to develop strong carrier relationships

[00:22] Why is it important to focus on developing relationships with carriers? In this business, you have two customers, the shippers, and the carriers, and you have no business without the carriers. Also, you will never be able to build a successful business by pulling trucks off a load board, so it is imperative to gain those repeat customers by showing appreciation. This will help you stand out from the crowd and will open the doors to better services and access to resources.

[01:58] #1 - Pay carriers on time or earlier is a sure way to get the carriers in your good graces.

[02:31] #2 - Communicate clear details of the loads; dates, times, locations.

[02:57] #3- Invest time with your carrier partners. Learn more about what their goals are, the struggles they have, and how you can help them and provide value to them.

[03:26] #4 - This should go without saying but when someone does a good job say thank you and voice your appreciation.

[03:59] #5 - When someone goes out of their way, reward them with a token of gratitude. It can be something simple like delivering a pizza to their office or gifting them a gift card to a coffee shop.

[05:39] Outro

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Learn to Become A Freight Broker/Agent in 30 Days or Less!

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What differentiates top freight brokers from unsuccessful ones? Education. But, not traditional education that requires a four-year college degree – education that anyone can learn with a little bit of curiosity and discipline. In this episode of Freight Broker Boot Camp, I share with you four key areas to be educated in to become a top-earner freight broker.

Timestamps:

[00:10] The most successful freight brokers are ___?

[01:11] Educate yourself in and around your niche

[02:16] Educate yourself about your prospect's company

[03:04] Educate yourself about your prospect and customer personally

[04:11] Educate yourself with the skills that are necessary to succeed

[04:59] Recap on four key areas to be educated in

[05:30] Be curious

[06:30] Self-educate

[07:55] Freight broker sales accelerator - Get On The Waitlist NOW!!!

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1. What is a freight broker?
2. What is a freight agent?
3. What are freight agent's responsibilities?
4. What Is an independent dispatch service?
5. Pros of starting as an agent

Episode Highlights:

[00:15] A freight broker is an intermediary that connects carries and shipper to make a match.

[01:17] A freight agent is a solopreneur, independent contractor, or small business that works under the authority of a freight broker. An agent is paid straight commission that is around 50-70% of the profit on every load. They don't have to have a bond or authority; they only have to work under a licensed freight broker.

[02:34] Freight agents' primary job is to find shippers, assist with their loads by finding trucks that match their loads and see those loads from pick up to delivery. They source carries, negotiate, dispatch, and follow shipments through delivery.

[03:14] An independent dispatch service is not a freight agent or a freight broker; they are neither. They are an indie contractor or small business owner that contracts with carriers, owner-operators, or small fleets to help find them loads. They go to load boards and find loads from brokers; they help carriers find brokered loads and help set up papers between broker and carrier. The FMCSA has said that independent dispatch services are illegal; they are unauthorized brokering. They are doing it without authority.

[08:06] The benefits of starting as an agent are low cost of entry, low risk, opportunity to earn income is high. Also, it's important to note that if you can't make money as an agent, then you will struggle as a broker.

[10:16] Leave a review to win prizes and shoutout

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In this episode of Freight Broker Boot Camp, I dive into the age-old question of "why am I not getting enough sales?" I break it down into two key elements; the quality of your pipeline and the quantity in your pipeline. Using these two strategies will help freight brokers improve their weak sales pipelines and generate profits by reaching out and following up with prospects.

Timestamps:

[00:12] Why you're not getting enough sales

[00:38] Sales pipeline

[01:53] Quality of your pipeline

[03:42] Quantity in your pipeline

[04:49] Following up with your prospects

[05:50] Daily freight quotes

[06:42] Prospecting and following up

[07:50] Generating profit

[11:33] 10 customers to make 10k

[12:25] Freight broker sales accelerator

[14:22] Freight Broker Boot Camp

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Topics Discussed: Part 2 - 10 Industries Where Freight Brokers Can Make Money

1. Chemical
2. Oil and gas
3. Building supplies
4. Consumer goods
5. Pharmaceutical

Timestamps:

[00:02] Part 2 - 10 industries where freight brokers can make money

[00:21] #6 - The chemical industry is a part of our world whether we like it or not. Moving chemicals may require additional research due to potential hazards.

[01:08] #7 - Oil and gas are huge, as you might imagine, but beyond precision, drilling companies are ancillary companies that produce oil and gas-related supplies and equipment.

[01:47] #8 - Building supplies that are different from lumber; shingles.

[02:43] #9 - Consumer goods include anything you may see in your house, from shampoo to bedding.

[03:34] Recap on the 10 industries

[03:45] #10 - Lastly, the pharmaceutical industry like Pfizer, require specialization transportation (i.e.; temperature control)

[05:32] Think about what industry you want to specialize in

[05:59] Check out Freightbrokerbootcamp.com

[06:47] Outro

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Topics Discussed: Part 1 - 10 Industries Where Freight Brokers Can Make Money

1. Construction equipment
2. Food and Beverage
3. Lumber
4. Steel
5. Auto industry

Timestamps:

[00:14] Part 1 - 10 industries where freight brokers can make money where you can specialize and develop over time.

[02:33] # 1 - Constructive equipment is one of the many industries that require specialized knowledge but can be highly profitable. An example of a company is Caterpillar,

[03:13] #2 - Food and beverage is highly lucrative with billions of daily consumers around the world, most notably Nestle.

[04:39] # - As the population continues to grow, homes are in higher demand and all buildings need lumber as part of their infrastructure.

[05:45] #4 - The steel industry is very popular when it comes to freight and logistics. It also requires specialized knowledge to run on flatbread.

[06:17] #5 - The auto industry is a huge niche where freight brokers can do very well in. Beyond working with popular car companies, automotive product creators, developers, and suppliers also fall under the auto niche.

[07:04] Recap

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In the age of technology, businesses can only grow when they innovate alongside their industry. Freight Brokers are no different. This episode lays out five ways freight brokers and agents can use video to get more shippers. Approximately 71% of salespeople who use video outperform text-based messaging that includes emails and campaign ads. With these five strategies, you can stand out from your competitors and reach a wider audience!

Timestamps:

[00:12] Three ways freight brokers and freight agents can use video to get more shippers

[00:25] Why is video important?

[01:52] #1 – Send cold outreach messages

[03:58] #2 – Reconnect with an old prospect

[05:19] #3 – Leverage recent news to start a dialogue

[06:37] #4 – Video testimonials from your customers

[07:51] #5 – Provide more context to your freight quotes

[09:22] Recap

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Topics Discussed: The Four Pillars of Growing a Successful Freight Brokerage

1. People
2. Strategy
3. Execution
4. Cash Flow

Timestamps:

[00:24] #1 - People are the core of any successful business. It is crucial to understand how to find good people, hire good people, and invest in those people to retain them. You will never be able to scale a successful freight brokerage on your own.

[02:23] #2 - When it comes to strategizing, here are a few questions to ask yourself to get started; what if your niche, what is your customer acquisitions strategy, and what makes you different from the rest?

[03:47] #3 - In day-to-day business strategies, there are three pillars of execution; effective communication, systems (like TMS) and process (i.e., vetting and paying carriers), and evaluating your performance as it relates to your executions.

[06:00] #4 - Cash flow is king, and there are three things to consider as it relates to money; leveraging other people's money, managing your cash flow, making sure you are paying your carriers on time, and then reinvesting profits into your business growth.

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Whether small or large, never underestimate the power of a nice gesture. Something as simple as buying lunch can make all the difference between a stale relationship or a congenial relationship. In this episode, I share with you how I turned a $25 experiment into $100k in profit using these three easy instructions; be different, test and try new things, and reinvest profits.

Timestamps:

[00:09] $25 investment to $100k profit

[00:36] Personal brokage anecdote

[01:35] Buying the entire office pizza

[03:03] Quadrupling business

[04:11] Three takeaways: 1 - Be different

[05:01] 2 – Test and try new things

[05:54] 3 – Be willing to reinvest your profits

[06:55] Recap

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Topics Discussed: Q&A

• How Much Money Do Freight Brokers Need to Pay Carriers
• Partnering with a factoring company
• Finding shippers that will pay you quickly for a discount

Timestamps:

[00:00] How much money do freight brokers need to pay carriers? It all depends on how many loads you plan on moving. If in your first month you plan on moving 10 loads and an average load is $1500, that means you must be invoicing shippers for 15k. We know it takes 30-60 days to get paid. If you get paid 20%, you will need 12k to pay those carries on those loads.

[02:21] Factoring is a powerful strategy because it doesn't require you to have cash or a credit line and provides you with unlimited growth capital. Essentially, your biggest expense is paying carriers and employees, so If you do not want to partner with a factoring company, then you will have to use your own capital.

[03:26] Find a shipper that will pay you quickly by offering a discount. Typically the discount can range from 1-3% of the total price with an invoice payment of 10 days.

[04:48] Example: When I worked with the Department of Defence they would take a 1.5% discount and would pay within 72 hrs.

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