Great Employees = Long Term Value

Great Employees = Long Term Value

October 29, 2010 - 2:22 PM

So...I think I am ready to start seriously thinking about changing the business name.  Going forward I want to make sure the name/brand can evolve with the business as it continues to grow. I think the name should embody the traits in which have lead to my success. It should epitomize the basis for anyone wanting to be successful in the industry. Fundamentally I feel those traits are reliability, honesty, and fair pricing. The name should clearly embody our successful traits and should be something that my current and future employees can be proud of. 

There are many companies in the industry that have named their business based upon the "speed" of their services. I feel that by going that route we would fail to differentiate ourselves and ultimately we would fail at capturing our role in the industry. I feel our immediate role is to negotiate pricing, choose reputable carriers, and manage those carriers throughout the transaction.

The term "Freight Broker" carries a negative connotation with both customers and carriers alike. It is often synonymous with dishonesty and most of the negativity is deserved. There are many fly by night brokers, many of which lack the skill set to run a successful business of managing carriers and customers. The Motor Carrier Protection Act of 2010 could seriously change the marketplace and well positioned companies could stand to benefit from upcoming legislation. The development of employees by many major industry players is typically done in a manner in which there is little energy placed into developing a well-rounded employee. Too often more energy is focused on increasing transactional volume at whatever cost in order to grow the company's revenue. In my opinion a company built under the former carries less long term value than a company comprised of valuable employees that grow the company through training and developing like-minded individuals. In short great employees equal long term value. Great companies don't need to produce the most revenue or have the most employees.

My goals are to develop a solid base of core employees that branch out into small satellite offices mirroring what I have done here. The key is locating the employees and getting them to believe in the culture I've created. In my limited experience this quite difficult to do and we have our work cut out for us. Our current name, "Brad Eldeen Logistics, Inc" was never intended to serve as public entity and I believe the name could be hindering the hiring process. Therefore I believe it's time strategize and rebuild our brand.   Hopefully the new name and brand can carry us forward and attract those like minded employees.

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