There is no disputing that the reputation of you and your business is important when it comes to what your shippers and brokers think about you. However, the importance of your reputation when it comes to how those you interact with outside of your brokers and shippers is often overlooked. It is important that you don’t let that happen as those other relationships can have a large impact on the success of your business as well.
Having the working capital, your business needs to cover necessary expenses can have a direct impact on your reputation and your success. For example, if you are a small fleet owner and don’t have the funds to cover payroll your employees are going to have a negative view of your business and could act negatively when delivering loads reflecting negatively on your business. Having the working capital to cover expenses associated with key business relationships can also impact your reputation. Without the funds to pay your mechanic for routine and emergency maintenance work on your truck that they have performed will influence how they feel about you and how they are willing to help you the next time you need it.
Your reputation with your insurance broker, accountant, and other business services providers is also very important. By having the working capital to pay them regularly and treating them with respect during every encounter will ensure they are always in your corner providing you with the best advice possible, which will contribute to your success.
The company you keep can also impact your reputation. With this in mind, it is important to consider how others view your brokers and shippers. A good way to get insight into that is by running a credit check before you haul your first load for them. A credit check will tell you what their past payment history looks like which will give you insight into how reliable they may be.
Maintaining good business practices and positive business relationships will help you to support you and your business’s reputation with all those who play a roll in your success.