Every March I look forward to the annual Truckload Carrier Conference. The reason why I (we) never miss is because of the value the conference brings. If you’re going to invest time, money and energy travelling to a conference you better bring something back that makes you and your company better. TCA never disappoints.
This year attendance was just shy of 1500 and for many they are there for the same reasons we are, to learn, and brush shoulders with some of the finest in our industry.
Here is a few of my takeaways from this years conference:
- Chairman Dave Williams says “We’re in tough times, transformative times. There is a need to adapt/change to the circumstances. We should never be comfortable, never stop learning, – we need to keep creating a value to learn and adopt”.
- The economist that spoke, Ken Gronbach, spoke on the power of Demographics. “Predictability ”. It is time for change, we need to embrace diversity. You need to understand your market and end users. Ken says one of the most important things you need in your business is have a strategic marketing strategy- this is critical to your success. We need to understand the talent pool. We need to start hiring, what we are going through now is temporary. Ken says the recession is not going to happen. China’s current economic melt down is going to be very good for USA and Canada – we will benefit. As far as AI goes, embrace it, do not think about it, embrace it. One of his final words, “in god we trust, do back ground checks on everyone else”. This is good for ISB Global, they are the experts in background screening.
- From the big carrier panel we learned that families are spending on average $900.00 more a month on food and fuel. Murray Mullen says that government is slowing us down with to much regulation. It is affecting entrepreneurism. We learned that hair testing for drug use is one of the most positive things you can do for your company and the people in it. Doing hair testing saves your recruiting department time, money, and administrative costs. Technology excited the panel member’s as well. Anything that protects you against nuclear verdicts is a good investment. Cameras has been a game changer for coaching drivers and makes your drivers safer. Cameras supply factual information. The movement of data needs to continue to be simplified efficiently, customers and partners are expecting it. Technology makes your best players better. Looking at insurance, all the panelists say there is a cost to not having the proper coverage. Running with the minimum can be very dangerous. Some believe self insurance is betting on yourself – you need to be best in class and tell your story as to why your best in class. Insurance should be based on our ability, exposure and experience. Amazon has been very disruptive. Supply chain is very sticky. Interests rate are high, buckle down, make improvements and get ready for next year.
- There was talk about the TCA / NATMI relationship, the learning platform, the new LMS and NATMI’s quality educational programs.
- Listening to the keynote Kevin O’Leary or better known as Mr. Wonderful was outstanding and had some very interesting comments and theory’s. The pandemic caused the the great American pivot. Forced us to work remotely. Zoom is now like Kleenex. It is important to think of direct to customer strategies and understand the concept of diversification. Data is the new oil. 44% of workers did not go back to the office. AI will help business big time. The power of social media needs to be embraced. Work on your social media commercials, 15, 30, 45 and 60 second commercials promoting your services on digital marketing, social media. Social media plus AI will equal success. When pitching your services remember these three keys all of of the time:
- Articulate the opportunity in 90 seconds or less.
- Be successful at convincing investors, buyers and partners that you have the right team to execute the business plan.
- Know your numbers and have a comprehensive understanding of your business model.
Other key points besides a focus on sales and cash flow; Serve your costumers, service your people, and remember your standard of service is everything. Your culture is important, watch your people, if they go of line, if they are not pulling for the team, get rid of them immediately. Efficiencies matter, take care of your people, compensate them properly.
- During the small carrier panel they talked about building relationships with more than one person at the companies you do business with. They talked about the importance of mentorship, being mentored and mentoring. The panel discussed the understanding of the ROI on any technology you’re going to invest in. You need to be at the leading edge not the bleeding edge of the new technology and services being pitched. They feel that smaller carriers can do some things better than the big carriers in some cases; quicker, better service, personalized service, better relationships and can be more agile. Have a never say no attitude, and find a way to do it. Deliver the service and do not break trust. Your companies values is a smart strategy to success. The panel talked about the value of TCA and that you can ask anybody, anything and members are going to share. The relationships you can build at TCA is huge benefit.
- There was a Young Trucking Executive Panel and the first thing they talked about was how important mentorship is. They see challenges in engaging young people into the industry, the workforce especially drivers. They see networking as the key to help solving the problem. They want to invest in their people, believe and trust them. Their bid takeaway was to surround yourself with good people and learn from them.
I want to thank the TCA and their amazing team for once again putting on another terrific conference. I have already saved the date for next year in Phoenix, Arizona. If you’re not a member of TCA I really encourage you to get onboard you will not be disappointed.
As I travelled home from Nashville I reflected on just how lucky I and my family are to be involved with such an amazing group of friends, business colleagues, partners and customers. You all are truly appreciated and we thank you for being you. Keep doing what you’re doing.
