TLA51_AllPages

ADVERTISING FEATURE
Strategic Partners Help
Fuel Successful Growth
By Michael Holland
Senior Vice President, Sales and Strategic Alliance
TCI Capital
Betty Aragon, second from right, with Wilson Logistics, was named Company
Driver of the Year. Pictured from left are Love’s Travel Stops’ Jon Archard, Wilson
Logistics’ Scott Manthey, Aragon, and Randall-Reilly’s Chip Magner.
truck. I don’t get out of the truck at the truck stops unless I have
to. I fuel, but once I park for the evening, that’s it,” adding that she
has fears potentially being harassed.
As for her career-closing award and its $25,000 cash prize,
Aragon said it ranks right up there with her safety record in terms
of what she’s most proud of, mostly for having achieved her goals
honestly and on her terms.
“When they announced my name, I got the shakes so bad on my
legs, my hands, my arms, and everywhere,” she said. “Everybody
was telling me, ‘You’re going to get it, you’re going to get it,’ but
when it became reality, it was unbelievable.
“I’ve always said it, if you don’t like me, tough cookies,” she
laughed. “I don’t care if you like me or not. I’m me, and I’m going
to be me, you know?”
The only gap in Aragon’s driving career was a brief detour into
retirement at age 65, which lasted only a few months. That kind
of U-turn isn’t happening this time, she says, adding that she’s
content to take her memories and spotless driving record into the
sunset.
“I always said when I retired for good, I wanted to go and become
a heavy-equipment operator. But I think I’m too old. I don’t think
anybody will hire me now,” she said. “I’ll be going back on the road
tomorrow morning, though. I’ve got the truck parked in the yard.
I’ve been cleaning it and getting it ready to go back out. I gave them
two weeks’ notice and then that’s it. I want to stay home.”
Building a successful company is the goal of all business
owners. There are many schools of thought on the right and
wrong way to grow. In the end, it takes planning, hard work,
and tough decisions.
Successful growth does not happen overnight.
Success takes planning, resources,
and strong strategic business partners. Developing
strategic business relationships
makes planning easier.
For many fleet owners, using a CPA with
trucking industry experience is crucial. A
knowledgeable, experienced CPA will be
current on tax laws and will provide advice
on equipment purchases and leases as well
as guidance on all financial matters.
Your insurance provider is another key strategic partner.
With the number of nuclear verdicts against trucking fleets
at an all-time high, insurance costs are rising out of control.
Talk with your insurance provider about ways to reduce
rates. Just like with your banker, keep them informed
of changes to your equipment and drivers. Let them know of
your needs, and work with them to get the right policy for
your company.
Lastly, a strong relationship with a bank or finance company
is essential to the successful growth of a fleet. This is a
lot easier said than done. Securing financing can be difficult,
even for established companies.
A relationship with a bank or finance company is a twoway
street. As with any relationship, what you get out of it
is often equal to what you put into it. Establish an open line
of communication with your lender. Let them know what is
going on, both good and bad. Be prompt when responding to
requests, and ask the same of them.
Just as a CPA with trucking experience is crucial, a banker
or account manager with knowledge of the trucking industry
can be very beneficial. They will know the up-and-down nature
of freight rates and loads. The more understanding they
have of your business, the better they can serve you. After
all, they want to keep you as a client too.
If a bank line is not sufficient, there are other sources of
financing many fleet operators use. Asset-based lenders and
invoice factoring companies offer fleets financing without
some of the restrictive covenants and extensive reporting
required by banks.
There are many asset-based lenders and invoice factoring
companies that specialize in serving trucking fleets. The
top companies provide many additional services that are not
available from banks. These include invoicing services, new
customer credit checks, accounts receivable management,
fuel programs, and more.
Successfully growing a fleet is easier with the right strategic
partners. Making important decisions on cash flow, buying
or leasing equipment, and the right path forward all require
dependable information. In my 27 years of transportation
financing, I cannot emphasize enough how important it is
to have the right strategic partner in accounting, insurance,
and finance, and how essential they are for your growth.
TCA NOVEMBER/DECEMBER 2021 WWW.TRUCKLOAD.ORG | TRUCKLOAD AUTHORITY 35