It’s been a tough year for trucking. Heck it’s been a tough year for everyone, but indications are showing in the economy of a better year on the horizon. It is already apparent after a pretty good holiday season, there is a pent-up demand for consumer goods that bodes well for the transportation industry. The ATA Forecast Report (available for download to Freight Capital Clients) reports “… Over the past two decades, the United States has evolved into a just-in-time/on-demand inventory economy. This tends to translate into smaller, more frequent deliveries, which plays into the inherent strength of trucking.”
Are you ready for the economic upswing that is sure to arrive soon?
If you’ve survived this year by hunkering down, cutting costs and watching expenses like a hawk, then you are primed to be extremely practical about expenses for a long time. You’ve learned to control your expenses and eliminate anything unessential. Maybe you’ve reduced your back office expense by moving your accounts receivable monitoring and collection expenses to a company who specializes in this type of business. Perhaps you’ve redirected your office staff into seeking out new opportunities where another carrier may have dropped out or a specialized need can be filled. Possibly you’ve consolidated routes and optimized your personnel wherever you can.
If you’ve worked hard to provide the best customer service during this downturn, you have positioned your company to be the one they call when they have more freight to move. Your customers will remember your dependable and courteous service, even when the freight rates were low enough to make anyone grumble. A positive, optimistic attitude will carry your business through and telegraph to your customers that you are going to be there to deliver loads when they need you. Present your business with confidence even if you do not feel it.
Just as important, don’t forget that your drivers are one of your most critical assets. Once the economy gets up to a full-head of steam, there will be a shortage of qualified drivers. Be good to your drivers!
Keep vigilant in 2010. Stay current on your bills and protect your credit by only hauling for reputable brokers and shippers. Credit check before every haul.
The bottomline is the business of hauling freight accounts for nearly 70% of all the goods that move in the USA and the economy is poised for a great comeback. Freight Capital is here to make sure you get paid quickly and save the most money on essential services. We are looking forward to everyone having a bountiful, happy New Year!
