Logistics professional, part time investor.
Columbia, South Carolina
Joined October 2013
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We are entering dark uncertain times in the freight market. Crackdown on non-domiciled cdls will not be quick enough to save many small to medium sized fleets.
The losses will continue until the pendulum swings.
Major recession incoming. Main Street is struggling while S&P is at ATH. Wall Street cannot be a barometer for the overall economy.
Manufacturing and construction are in a recession, while inflation continues to rear its ugly head.
I don’t see this ending well.
US freight is in a recession:
The Cass Freight Index dropped -9.3% YoY in August, hitting its lowest level since 2020.
This index tracks freight shipments within North America and serves as a key gauge of US shipping activity.
August marks its 28th consecutive monthly decline.
Freight shipments have now fallen -20% over the last 3 years.
The last time such a prolonged fall occurred was during the 2008 Financial Crisis.
Goods movement in the US is slowing sharply.
At the start, you’re gonna have to compete on price. That’s how most brokers get their foot in the door.
But if price is the only thing you bring, you’ve already lost. There is ALWAYS someone cheaper.
The real danger isn’t price-driven freight, it’s being anonymous. If you’re just one of 50 names on a board with no direct line to the customer, you’re next to get cut.
Build the relationship, gain trust, grow the account.
-stop relying on email only. Get them on the phone, ask questions, shut up and listen.
-stop talking about yourself. Ask pointed questions that may uncover opportunities. “Have the tariffs affected your import volume?” Instead of “do you have any drayage we can look at?”
-be different from other brokers. Be top of mind, not annoying. Be honest “you’re getting a great deal on that lane, don’t change a thing”
This will start to position you as a partner instead of a vendor
Communicating FAST was hammered into my skull early on. Always assumed I would be the fastest and could never rely on someone to keep pace.
Absolute unlock mode when you find people who surpass your speed and have teammates jumping on customer requests at breakneck speed.
Sense of urgency and a bias for action and we can figure out the rest.
"Working on this now" vs. "Hello sir/madam, we'd gladly take this request and complete it when it suits you best"
Gamechanger
Freight feels like it’s moving through molasses right now. Everyone I’ve talked to says the same; waiting (hoping) for fall to bring some life back.
Everyone sees the pattern: brokers cutting staff, carriers running for below market and doors closing. It’s a cold, dark stretch for a lot of folks.
MUST KEEP PUSHING
Nothing beats a face-to-face interaction. The authenticity is lost when it’s just another teams call filled with faceless souls on your monitor. WFH has improved business in many ways, but getting out from behind the screen and interacting in person is unmatched.
I do my best to shorten the trip to 1-2 nights and sometimes bring the family along. Day trips are worth it and you’ll never regret meeting that client or prospect even if it doesn’t pan out.
Take the trip, make the effort, build trust.
Working harder for less $$
Revenue up/load count up, profit flat
Nowhere to hide for logistics companies as rates stay flat, costs increase, and shippers look to cut costs more than ever. We are adding accounts, customer concentration diverse, and we're fighting for every buck!
Interested if this is industry specific or if anyone else is feeling the same?
My message to our team- stay aggressive, maximize profit, and never sacrifice an ounce of service.
Just dropped off a case of Busch light to my tenants for doing me a favor
Homage to @StudentRentPro
Brilliant
Hamas has to have the #1 SOS in the league. AT Alabama, Ole Miss, and LSU in a week? Good thing they scheduled those early season cupcake games at UCLA and Columbia
“Tax on unrealized capital gains”
Might as well stop reading
Braindead behavior
Concerning for a leading indicator
No where to hide for carriers and brokers alike
This quarter will be the moment of capitulation.
Asset-based carriers have tried to hold their ground on contract rates, expecting the market to turn around. In doing so, they have allowed the freight brokerages to gain substantial market share.
But the market turnaround hasn't happened, so the asset-based carriers have been forced to adjust to ensure their trucks stay loaded.
Carriers are now on the warpath, targeting volumes lost to freight brokerages.
Had a company ask for a review after completing a project for us. They weren’t the cheapest, but came with recommendations and we decided to go with them.
The work was great but what blew me away was the responsiveness, friendly interactions, and flexibility to work with our schedule. If you work with contractors, you know this isn’t the norm!
By the end of the project, I was happy to pay, via their app, for a job well done. They aren’t for everyone but their customer experience is second to none, for any business I’ve worked with.
Customer service is a moat!!
This tweet has improved my life dramatically
The memo shared every Monday with our team has allowed us to grow, stay aligned, and create conversations to improve our processes.
I open up Word every Sunday night and spend 20 minutes writing for the week ahead.
Set up a dozen throughout SEC tailgates
Charge per trip or sell a “season pass”
Put a mini split in each one
Profit
