Revving up for new business
Truck operator Shannon Griego’s firm, Global Transloading, needs marketing and hiring help. Share your thoughts on what Griego can do to generate profitable new business.
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DiggThis is the first Makeover in a long time that appears to have so much “low hanging fruit”. Even though it is in a down cycle, Griego already has significant base business and expertise. Face time with potential customers that can supply new business and back hauls will likely generate huge returns with minimal capital investment.
Hi Griego,
I think the main question is “where” to expand. Do you look to new, higher margin business, like grain and oil service (as mentioned below), or do you work with the same clients you already have a good relationship with and try to handle other requirements that they may have? Your clients may also need Airfreight, Shipping, Sourcing, and clean up services. Your “outsource” business model is well suited for this as you will not need too much investment in assets or people to get into these other services.
I’ve been in the logistics business myself for over 25 and our expansion has been more of the latter. We try to “do more” for the same clients first before trying to look for “more clients”. This deepens your customer relationship and increases the value of your company’s service – raising the ‘barriers to entry’ and making it harder for your clients to replace you. Consequently we have clients that have been with us for over 20 years. This also solves your Sales problem as you won’t have to be making calls on new clients but rather visiting your regular customers and finding out what more you can do for them.
Monchu
Look international. Islands are areas that need to deal with waste due to limited space. How can your firm help island communities?
Develop a marketing plan keeping in mind that you need to diversify. Identify new business opportunities including expanding on services to existing clients as well as those outside your comfort zone. Review your marketing opportunities and take advantage of all of them. Be sure expectations of employees is within their realm of expertise and that employees who will be in a position to “market” your firm are familiar with all aspects of your business. Set goals and benchmarks and evaluate efforts.
Griego, first off you need to follow the money. Your industry is drifting away. face it no money, no housing speculation.
Yes this has happened before many times Late 70s mid to late 80’s all industries rise and fall. Next you need to investigate the container shipping industry. And you REALLY need to investigate the OIL service industry. Yes I moved from the OIL Late 70’s to construction Mid 80’s to bridge building or federal Hwy projects 90’s. Get out of a losing battle make friends with OIL! Haul pipe / Drilling Mud/ any service material needed to service a well. In you position you should haul offshore oil well service equipment to the offshore staging areas. there are lots of leases oil in Los Angeles. county. If you stay still you will wither and die.
Sorry but that’s the brutal truth!
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Consider hiring a “virtual assistant” to assist with your paper work. They are contract employees whose work load can be flexed based on your need as they work hourly. This will free up your time to focus on the “bringing in the bucks” aspect of your business.