It sure would be nice if someone just generated an email telling you that Cleveland was going to be hot this week and that Indianapolis was cooling off. That would really help position your truck.
Unfortunately, this reading of the tea leaves is not available for those drivers that are running around like the 3 blind mice hoping they land in a hot market.
For them, it is like hitting the Spot Market Rate Lottery.
Fortunately, for the business owner that is in the trucking business, there are resources for data and knowledge to help them make educated guesses on where to position themselves and how to price themselves for the market.
We all would love this to be like some fixed math formula where we can plug all the information in and get solid results, but in reality it is much more like picking stocks than solving a calculus problem. At the end of the day the business owner takes all the available data on capacity, knowledge of the industries that are in various markets, and their gut into consideration to make a decision.
Like someone that picks stocks for a living, if you are right more than you are wrong then you are considered a genius.
All of this ties into my Triad of Great Rates and applies to the Knowledge portion but you still need to perform and have relationships.
There are various resources to help the trucking business professional gain the knowledge to make the best decision.
1. I have to plug in The Trucking MBA. This is a free resource that I have created to help Owner Operators and drivers looking at becoming Owner Operators understand the business and increase their chances of becoming successful. All of our online classes are free. Make sure you are following our blog to get all of the latest updates.
2. If you are not a Facebook junkie, one of the best groups around to learn about rates and markets is “The Rates Per Mile Masters”. At present they have over 2,000 members and the typical internet bickering and insults are not tolerated and dealt with immediately. I wish I had found a group like this years ago. They can be found at https://www.facebook.com/groups/740941659272552/
3. Check out the blog below on one of the must have products for getting information on rates and capacity, the DAT Load Board. Chad that runs the above mentioned Facebook group has negotiated a free month. Just use “promo721” when signing up. In the coming weeks we are going to be hosting webinars that focus on specific areas in the DAT load board and how to use the tools to get the best rates possible and position your truck in the best markets.
This is just a short list of resources that are out there to help you become a better business owner. I am sure that there are dozens more. Please share.
A rising tide raises all boats.