Scaling a business is not always the right move – but with logistics, it makes perfect sense.
You will quickly reach a ceiling with the number of deliveries you can complete, and if you don’t scale quickly, you could lose potential customers. After all, a logistics company can develop a negative reputation if it systematically fails to deliver orders on time, cannot stretch past a very limited amount of delivery slots, or makes consistent errors because it is understaffed.
By scaling your logistics business, you will be able to cater to more customers, feel less overstretched by demand, take a step back from daily driving, and deliver a more flexible service.
Despite the clear benefits, scaling any business is tricky, and requires the right strategy to execute successfully. For example, you will need to do it in a manner that doesn’t overburden your available finances, ensure that there is enough consistent demand for your services, maintain your current levels of quality control and customer service, as well as expand your administrative department to cope with the additional staff members.
This is how to scale your logistics business quickly:
Join a load board platform
A difficult balancing act which needs to be struck when scaling a business is the recruitment of more staff coupled with the average demand from your customers.
Full-time members of staff are not cheap and can leave you vulnerable to cash flow issues if there isn’t a similar increase in sales. This is especially pertinent with a logistics company because you will likely have to buy new trucks, hire additional warehouse space, pay for more expenses and market in new areas in order to generate the extra work.
A great way to help find delivery jobs is to join Truckstop.com’s load board platform. On these platforms, you can find people who are looking for someone to deliver their goods or be put in contact with other companies who need additional drivers.
Although this leaves your cash flow dependent on last-minute trade initially, you can quickly build lasting relationships with these first-time clients.
Ultimately, your target should be to attain enough regular customers to easily cover the additional staff, leaving you with a safety net if you suffer a quiet month.
Be intelligent with your route choices
A great way to scale your logistics business without enduring the risk of hiring too many extra members of staff or acquiring additional capital too quickly is to think through your route choices carefully.
If you can visit a destination that incorporates a multitude of different customers, then you will be able to fulfil more orders on less fuel and use far fewer drivers. While there will come a time when you may have to hire new employees to complete deliveries, this strategy will ensure you maximize your efficiency in the meantime.
Use automation to increase process speed
If you want to scale your logistics business then you will need to ensure that every aspect of your company is as efficient as it can be. Therefore, automating your processes can be incredibly valuable.
For example, you may want to use robots in your warehouse to manage and load your stock, an online timesheet system to keep track of employee working hours, or a chatbot who can take orders on your website without you lifting a finger.
This will make every step of your delivery process faster, cheaper and more replicable, which is what will help you achieve lasting growth.
Increase the number of vehicles on your fleet
You can have all the additional staff members you want, but your business won’t be able to fulfil orders if you don’t have enough vehicles with which to deliver them.
Depending on your budget, this may either be a fast or slow process. There is no incorrect choice, it simply hinges on whether you can spare the extra cash. Estimate how many more orders you could realistically accept if you had an extra vehicle, and then use that figure to justify whether you could quickly pay off the purchasing cost.
Bear in mind that markets change quickly, so allow for a little leeway when making this calculation.
Open depots in different locations
Once you have started to process more orders and have an increased number of staff and vehicles on your fleet, it is probably time to open some additional depots in new locations.
This will help you cater to a much wider customer base who may not have otherwise heard of your business, or been too far out of your jurisdiction to be relevant.
As a result, the success of your logistics business could quickly snowball, allowing you to make further inroads in new markets and develop more cash flow security.
You should be tactical with the locations that you choose, and the sites you acquire.
Only open for business in a new area once you have thoroughly researched it. You need to be as sure as you possibly can that you are going to find enough customers there, and that it is well connected to a road network and other vital infrastructure.
There is also the question of finding employees who are willing to commute or relocate to that area, so making sure your depots are in a city or desirable neighborhood always helps.
Create lasting relationships with customers
Lastly, you will find it impossible to expand your logistics business meaningfully unless you develop lasting relationships with your customers.
There are a few crucial reasons for this:
The first – and most obvious – reason is that repeat customers are the bedrock of any business, whether they are a start-up or multinational. The reliability of regular trade will allow you to budget more accurately, develop a strong reputation within your industry and build momentum.
Secondly, if you consistently burn bridges with your customers, then you will eventually run out of people to sell to, leading to bankruptcy. Bad customer service can be lethal for any brand’s image, so you should endeavor to make it as strong as possible.
Mozilla report found more than a dozen TikTok influencers who had undisclosed paid relationships to post political messages; TikTok banned political ads in 2019 (Mozilla Tiktokzakrzewski Washingtonpost)
Mozilla Tiktokzakrzewski Washingtonpost: A recent report conducted by Mozilla found that more than a dozen TikTok influencers had undisclosed paid relationships to post political messages on their videos, the company banned political ads in 2019. This decision has been applauded by various activist groups and has been seen as a “victory for free speech”.
Not everyone is happy about this. As of now, it’s not known whether the TikTok app will still be able to use third-party content from content creators with undisclosed paid relationships. It’s also not clear what the ban on political ads means for the app.
The report was released by Mozilla, a major free web browser provider and anti-privacy organization. The report argued that political messages were being spread through the video platform without users knowing that they were paid promotion of propaganda. Specifically, 7 Indian political parties allegedly used TikTok to influence voters ahead of the 2019 Lok Sabha election. TikTok has been widely used in India because it is unable to detect political content and is mostly used by young people in India. TikTok is an app that allows users to post and share videos with one another.
The CEO of Mozilla, Mark Surman, claimed that the platform had been used for “political propaganda” for a long time. He claimed this was not only a problem in India, but globally as well. He also claimed that such incidents are not unique to India and are happening all over the world. The report also stated that many of these political influencers have more than 100,000 followers on the app. Allegedly, these users were able to get their political messages across without anyone knowing that they were paid promotions.
At the same time as the report was released, Mozilla CEO Mark Surman said that TikTok has removed all of these videos from its platform and banned political advertising on its app. He said, “It shows a clear desire from TikTok to address this problem, so we’ve decided to temporarily suspend our work with them. We will resume engagement with TikTok when we know they’ve solved this problem.”
Mozilla has decided to stop working with TikTok for an undisclosed amount of time. Mozilla also announced that it would work with other companies to make sure that political messages would not be able to be spread on their platforms for the next 4 months. The company also announced that it would work with Google, a major search engine, YouTube, a popular video streaming platform, and Facebook in order to address the issue.
Facebook will announce a suite of audio products on Monday, including a Clubhouse-like app, a podcast discovery product connected to Spotify, and more (Sources Monday Clubhouselike Spotifykafkavox)
Sources Monday Clubhouselike Spotifykafkavox: Facebook will announce a suite of audio products on Monday, including a Clubhouse-like app, a podcast discovery product connected to Spotify, and more.
The announcements are part of Facebook’s efforts to stay competitive in an increasingly crowded social media space dominated by other companies who have fleshed out their audio offerings.
It might seem like Facebook is moving too fast in the media realm, but those who know around here know that it’s just following the rest of tech. A few years ago, the company’s advertising executives were inventing and experimenting with a range of new ad formats. From that came the creation of Timeline, its news feed, and the addition of paid ads to the social network.
On Monday at its F8 developer conference, Facebook will announce a trio of audio products — an updated version of Clubhouse which will be known as “Timeline Chats”, a podcast app called “Podcasts”, and “high quality audio” as part of Instagram.
Clubhouse first launched in 2016 as a private community where Facebook employees post 10-minute audios. It’s sort of like a Facebook-focused version of The Moth, the live storytelling event and podcast. The feature will be open to the public starting Monday (for those willing to signup for one of this thing).
Facebook is also launching a new podcast app called “Podcasts” that will be available on iOS and Android and connected to Spotify — a first for Facebook. The feature could be a competitor to the likes of Apple’s Podcasts app. Facebook is also integrating podcast listening with its main app. So people will be able to listen via their news feed, of course.
The third product is high-quality audio, which is said to be “a new format optimized for sound quality and created with the latest in audio technology”. I’m just going to say that it’s probably a way for Facebook to easily differentiate its audio products from rivals.
Facebook already has a lot of tools for recording and editing audio, especially video. With standalone products, the company can increase user engagement and promote vertical video content over horizontal videos.
Facebook has been investing in several other audio products as well.
Wejo, which collects and analyzes real-time vehicle data, is going public via a SPAC merger to raise $330M, which will value Wejo at $800M including debt (Wejo Spac 330m 800m)
Wejo Spac 330m 800m: Wejo is a predictive analytics company that specializes in collecting, analyzing, and interpreting real-time vehicle data. They operate out of the globe’s largest traffic network and have built the world’s largest connected vehicle telematics database.
The company has been privately held since 2006. Wejo plans to enter public markets via an SPAC merger with Criora Health, which will be renamed Wejo Inc with a publicly traded ticker symbol of WJHO. The merger is expected to close in Q3.
The SPAC is a new form of hybrid private/public company that has been gaining popularity in certain industries including healthcare, IT, and cloud-based security services.
Wejo’s real-time software enables consumers to monitor driving patterns and behavior via an on-board telematics device, or log into their account online to review the data. The company has been providing these solutions for more than a decade to consumers, dealers, and auto manufacturers in the U.S. and Europe.
The data that Wejo gathers from its network of connected vehicles is available to a wide range of businesses, including auto insurers, dealerships, finance companies, and auto OEMs. The company also collects data from non-automotive sectors such as delivery fleets and shuttle buses among others.
Wejo has operational headquarters in the U.S., and is listed on the OTC Markets under the ticker symbol WJHO. The company also maintains a research, development, and engineering center in Palo Alto, California. Wejo’s operating headquarters are located on the campus of Lehigh University in Bethlehem, Pennsylvania.
Wejo operates its largest connected vehicle telematics database, which consists of more than eight billion connected miles of driving data gathered from over three million vehicles. The company currently analyzes data from over seven hundred thousand vehicles in the U.S., fifteen thousand fleets outside the U.S., and twelve thousand transit buses around the world.
The company currently operates five technology platforms. Wejo’s Real-Time platform is a web and mobile portal that allows users to analyze, visualize, and share driving patterns and behaviors. The company’s fleet management platform includes features such as fleet routing optimization and real-time fleet analytics. The Mobilize platform offers a unified user interface for device management systems and connected vehicles.
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