Blog Series - 10 Tips Every Independent Trucker Should Know - Tip 6

TIP 6  

NEVER STOP FOCUSING ON GENERATING REVENUE.  IT IS MORE IMPORTANT THAN WATCHING EXPENSES. 

 Generate revenue. 

This is really important… you have been given the wrong advice most of your life.  Remember when people said “watch the pennies and the dollars will come?” Hogwash…you need to generate revenue first and foremost.   
 
Most business owners spend too much time looking at the expenses in their business and too little time looking at how they can grow revenue.  You need revenue, income, sales, and you
need it badly!  Yes, watching the expenses is still important, but if you do not have any revenue, the expenses will not matter.   
 
Revenue rule #1:
Why do I need to focus on generating revenue?  Because revenue growth is essential to any business.  The idea that most businesses fail because they do not have enough startup capital
is wrong.  Most businesses fail because they do not generate enough revenue to keep the doors open.  It really is that simple. 

Revenue rule #2: 
“Stuff” happens...be prepared for it.  Your customers may go out of business.  Your contacts may get fired, your customers may lose a key account that is out of your control, whatever the reason; revenue growth helps you be prepared for any bump in the road. 

Revenue rule #3:  
 
Generating revenue is about effort and action– massive action. Once you have determined your “niche”, make a list of potential customers, make a call to them and ask for their business. Go see your customers in person, build a personal relationship with them, and remind them that you are an expert.  Because of your expertise, they can run a better business.  Do not think that they will ASSUME THIS...you need to remind them, and remind them
often. Do this on a regular basis because you need a pipeline of customers in case you lose one for whatever reason. 

Revenue rule #4:
Keep a constant pipeline of new contacts.  Visiting and constantly staying in front of your customers is the easiest way to build and sustain a healthy pipeline.  If this makes you uncomfortable, get over it.  If you are not in front of your customers…someone else will be.      
 
Revenue rule #5:
Think about more.  Never stop thinking about how you can do more.  More customer contacts, more networking, more relationships.   More effort means more revenue! 

Join me next week here for Tip #7


Matt Manero combines his business brilliance with more than 20 years of hands-on experience in transportation equipment finance. Today, he is a CEO leading four companies that generate over $100,000,000 per year in business with a base of more than 10,000 clients.

Matt launched his first business, Commercial Fleet Financing, Inc., in 1995 with a phone, a folding table and the  unyielding confidence of a single client, a trucker. Fast forward 20 years: Commercial Fleet Financing, Inc. made Inc. magazine’s Top 500/5000 list of fastest growing companies in America in 2014. Matt is the creator and personality behind CFFnation.com, the first and only online video network featuring original programming for and by innovators, operators, movers and shakers of the transportation industry.

His companies have been recognized in trade publications such as OverdriveTransport TopicsCommercial Carrier Journal, and Dealer Solutions MagazineMatt hosts his own weekly Radio Show aptly named, “The Grit” which airs on lifestyletalkradio.com and also on CFFnation.com. In addition to “The Grit,” Matt has authored a series of quick read books entitled “Tower, Mover and Construction Co. Need to Know NOW”, and also a forthcoming book, “I NEED MORE MONEY,” which reflects his battle to build his business and guides readers in creating their own future and financial success.

Reach Matt at his offices in Dallas, TX via email at mmanero@cffnationwide.com and on twitter @mattmanero. Learn more at cffnationwide.com and cffnation.com.