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How to Become A Freight Broker in 7 Simple Steps [Step by Step Details]

Freight Broker Training Blog - Thu, 12/10/2020 - 00:19
The primary goals for this website is to teach people how to become a freight broker or freight agent.  There are a variety of resources including both free freight broker training as well as my online freight broker and freight agent training program also known as Freight Broker Boot Camp. This post is designed to help you quickly understand 7 simple steps you will need to understand in order to launch your freight broker business! Step 1 – Get trained as a freight broker or freight agent There are 3 primary ways to learn how to become a freight broker. They include on the job training, live classroom training and online training. Fact is, not everyone learns the same and each has their pros and cons. Before deciding which training type is best for you, you really need to take a deeper dive and look at the pro’s and con’s of all of them. Not long ago I wrote an article that has become very popular that might help. Freight Broker Training – 3 Winning Strategies For Becoming A Freight Broker or Freight Agent in 2020   Step 2 – Get your freight broker authority. To legally broker freight you will need to get your freight broker authority. But don’t worry, its an easy and painless process which does not require a college degree, any testing or certification to quality.   https://www.fmcsa.dot.gov/registration/broker-registration  NOTE: As a part of my online Freight Broker Boot Camp course we teach and help support you as you apply for your freight broker authority plus we training and support on how to start making money as a freight broker. Click here to learn how we can help!   Step 3 – Find your freight broker niche.   Riches are in niches when it comes to becoming a freight broker. There are many niches to pursue as a broker but finding your niche is a critical step to becoming a successful freight broker or agent. I’ve told the story many times about how I found my freight niche and used niche marketing to grow my brokerage. There are 4 primary ways to find your niche. 1)  Equipment type 2) Product type 3) Based on geography/lane 4) Hybrid approach Learn more about how to find your freight broker niche here.   Step 4 – Set up your freight broker home office.  One of the best parts about being a freight broker is your ability to work from home.  No long commutes back and forth to work. Spend more time with your family and be more productive as a home based broker/agent. I’ve been an entrepreneur for about 25 years and during my career I have worked from home for almost half of that time.  I truly enjoy working from home and while it’s not for everyone I think the pro’s far outweigh the con’s. Pro’s of working from home as a freight broke or freight agent include:  -More independence -Less expenses -No commute -Increased productivity -More work flexibility -Less office distractions -Increased job satisfaction -More work-life balance Con’s of working from home as a freight broker or agent including:  -Increased isolation -Risk of overworking -Distractions at home -Workplace disconnect To learn how to setup your freight broker home office click here.   Step 5 – Leverage freight broker software / technology.  You do not need to be a “techie” to make money as a freight broker but there are a few ways to leverage technology to increase your profits including transportation management software (TMS), internet load boards and customer relationship management software (CRM). As a freight broker startup you really don’t need much technology other than an internet load board or two. But as you begin to get customers and move more freight you are definitely going to need to embrace technology. The good news is, there are tons of options when it comes to freight broker software. See links below to get into more detail based upon your specific needs.  Top 10 Freight Broker Software For 2020  Top 5 Load Boards For Freight Brokers in 2020  Top 7 Small Business CRM’s in 2020   Step 6 – Partner with a freight broker factoring company.  Don’t have a lot of money to get started as a freight broker? Don’t worry, as a freight broker we use OPM also known as “other people money.” Factoring companies help brokers by advancing them money to pay carriers before they get paid by shippers.  Freight broker factoring is a form of financing is the process of selling a shipper invoice to a factoring company, which then advances you up to 95% of the invoice to pay your motor carrier and basic operational cost.  Without factoring most freight brokers would never be able to scale their business to 7 figures because in most cases the motor carriers will require payment from the broker before the shipper actually pays the broker. This is often the case in business and while factoring is NOT a long term strategy, it is a powerful strategy for startups until you can acquire bank financing. More details below. What is freight broker factoring? How to use OPM to grow your freight broker business!   Step 7 – Start selling and marketing to shippers There are many ways to acquire shipping customers today. Cold calling, social selling, referrals, online advertising, content marketing, trade shows and more. Most freight brokers start because its the fastest way to start having conversations with potential shippers. Others who have industry experience and contacts like to get their first shipping clients from referrals. Regardless of which channel or strategy you choose learning how to sell is one of the most valuable skills for a freight broker or freight agent. Fact is there are top sales people and freight agents that make more than Owner/CEO’s in the freight industry. Why? Because they understand how to get and retain clients and without that there is not business. Here are some freight broker sales training links that I think […]
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