Would you say that you are a growing trucking company? That is fantastic. But be wary, because growth can, ironically, be a cause of failure for businesses.
Growth brings new issues to management, organization, and company structure that can cause a collapse when not handled properly.
An important aspect of dealing with growth is hiring the right positions. As your orders pile up, your fleet expands and your revenues and expenses grow, it’s essential that you hire properly. Every company has different needs, but here are six positions that you might consider for your trucking team. When filled correctly, these positions can turn your growing revenue into long-term profits.
As your company grows, it becomes harder for you to monitor safety procedures while growing and operating the business. Hiring a safety manager to oversee all of the safety-related issues in your company can not only save you time, but it could save lives.
A safety manager will provide safety and health reports to management, communicate with drivers and employees on the latest safety regulations and company expectations, and investigate any accidents in an attempt to prevent future recurrences. When hiring a safety manager, look for someone who has training and experience in safety, including certification from state governments or an education in transportation safety.
Your fleet size increases with your growing trucking company, and while your drivers do their best to monitor and maintain equipment, you could be spending upwards of $100,000 dollars on repair costs. Not only that, you could be waiting in line to get your trucks into the shop, resulting in delays for your clients and lost revenue opportunities for your trucking company.
Perhaps it’s time to have an in-house diesel technician on your team. Someone who thoroughly understands the working details of your trucks, and is assigned exclusively to maintaining and repairing your vehicles, can make your operations more efficient and more effective.
How good are your bookkeeping skills? Are you properly prepared for tax time every year, or do you scramble to get organized with income statements, deductions, and tax credits? You’re not a trained accountant, and while outsourcing accountant services to a firm is useful for small business, but if you have a growing company, bringing an in-house accountant could be beneficial.
When attempting to hire an accountant, look for someone who has experience in business accounting and, if possible, transportation issues. During interviews, ask questions about how they can help reduce cost or enhance financial organization. Find out how they minimize risk while staying informed on the latest accounting standards. If you thoroughly interview accountants, you can find one that is perfect for your trucking company.
Like it or not, we’re all in sales. Every industry, every corner of the market and every business from small mom-and-pop stores to global conglomerates needs to have a basic knowledge for selling. As the owner or manager of a trucking company, you have to sell your services, reliability and pricing to constantly find new business.
Do you have time to research new clients, contact existing customers, and constantly drum up new business? If not, you could hire a sales representative to be a part of your team. As is common with sales, you could consider an incentive-based payment structure that rewards successful sales reps who enhance your business.
In his book “Customer Satisfaction is Worthless, Customer Loyalty is Priceless,” author and sales guru Jeffrey Gitomer discusses the far-reaching advantages of keeping the clients and customers you already have. A client management representative forms a bond between your customers and your growing trucking company, working to create a harmonious relationship and helping generate loyalty.
How can you tell if your business needs a client management representative? There are a few signs, but the most obvious is clients leaving your company or only placing one order and not repeating. If you have issues maintaining the customers you have, you may want to hire a new employee who can look at your process, implement loyalty-inducing (and affordable) changes and maintain a positive, long-lasting relationship with customers.
If your fleet continues to grow and you’re suddenly finding yourself struggling to keep assignments and routes organized, a dedicated dispatcher may be the solution. They will essentially act as the director to the concert that is your trucking company, taking orders here, sending shipments there and monitoring routes to maintain complete harmony.
A good dispatcher is organized, meticulous and detailed. While experience in the trucking industry is significant, not all truck drivers will make good dispatchers. It’s more important to find someone with the right skills and mindset, then mold them into a fully-functional trucking dispatcher.
Freight factoring helps any growing trucking company meet payroll, fuel their trucks and grow by paying them on their invoices the same day. To find out more information on how our freight factoring programs can unlock your trapped cash, contact a financial representative at TCI Business Capital.
TCI Business Capital is an invoice factoring company serving businesses across the United States. For more information on factoring, call (800) 707-4845 for a free, no-obligation consultation and quote.