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January 26, 2015

Being a Successful Broker Authority

Becoming a broker authority is no easy task. With the handful of applications and obtaining a surety trust, you may want to throw in the towel. Luckily, with the help of Motor Carrier HQ, you can get the application process done quickly and efficiently. All you’ll have to worry about it running a profitable broker authority.
While you’re starting you new broker authority, take into consideration these tips to help you strive in your business. These are simple, yet innovative that boost your broker authority in the long run.

Tips for a Successful Broker Authority

  1. Reach out – Be proactive when looking for shippers. Networking gives you the opportunity to find new partnerships and keeps you up-to-date on industry trends. Utilize social media, especially LinkedIn. Numerous groups are available to join including Transportation Network Freight Brokers Logistics.
  2. Take advantage of smartphones – One of the reasons that smartphones are so popular is because of the mobile apps. These tools can be a great source of information that will help you with your business analysis. You can find GPS tracking, delivery logs, fuel efficiency and many more apps that can give you statistics that will take your management to a whole new level.
  3. Design the perfect business plan – Managing your broker authority is much easier if you know everything that goes into it. Make a detailed business plan that covers everything from the cost of an office to equipment. This plan will bring your focus on opportunities and will be your road map to success.
  4. Consider what shippers look for – Shippers want to know if whether or not a business is licensed and bonded properly. They’ll also be interested in the quality of your billing department, the cargo insurance options you provide and just how well you communicate. These criteria will directly affect your brand image so make sure you’re on top of everything.
  5. Be location aware – When thinking about business opportunities, keep location in mind. Brand out to neighboring counties and cities. Each year, Forbes puts together a list of the fastest growing counties in the US that might help you with ideas when looking for potential clients. These counties have a steadily increasing demand for housing, furniture, cars, etc., perfect for growing your broker authority.
  6. Be proactive – Waiting for business opportunities doesn’t work when growing a business. You have to create your own opportunities in order to stand out and prosper. Approach potential shippers and once you find them, don’t wait for them to call. Send them a set-up package and follow-up with them to see if they need help.Make an online presence. Once you have your company website set up, add a blog. Blogging frequently will show shippers that you’re active and serious. It will raise your authority and make your business easier to discover online.
  7. Identify your niche – Do your research and organize your data to see where you are excelling. Make an educated choice how you should restructure your business. Take into account factors such as geography and cargo type and keep in mind that your certain niche may require some innovative developing. Don’t take the easy way out. Try to make an original path for a business you want to run.
  8. Never stop learning – With the help of the Internet, education has never been easier. In addition to online classes, there are free webinars, case studies and reports that you can use to help educate yourself. There are valuable resources that can keep you up to date with the industry with little to no cost. Take advantage of technology so you can keep your business growing.

A common theme we want to reiterate is that you should strive for business development. Trying out new innovative business practices can bring your broker authority to a while new level. If you haven’t started the process of becoming a broker authority, but you want to begin the process, Motor Carrier can help you. We will help you through the application process including directing you to obtain a surety bond. Visit us online or call us at 866-739-2032 for more information.

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