7 Ways To Make Shipper-Carrier Relationships Better

Freight services are very important and load boards work great at connecting shippers with carriers. But the relationship between carrier and shippers ought to be good for the process to work out smoothly and be a win-win kind of a process. Fortunately, there are so many ways that can help improve the relationship between these two important people in the business. With stronger relationships, a reliable carrier network is maintained. By giving attention to carrier concerns, it is possible to build collaborative partnerships that are long lasting.

As a shipper, there are a few things that you can do to maintain a good relationship with your carrier.

1. Work for the good of everyone involved. This can be done by working with the carrier in determining which freights and lanes work the best. By working in conjunction with the carrier, then it is possible for profitability to be added to the network. It solidifies the relationship.

2. Honor commitment to the carriers. It is only when you honor your commitments to the carrier they will be able to honor theirs to you. Considering that carrier will usually base service price on data provided, then it is of importance that only accurate data should be provided. You should also ensure that you ship in tonnages and lanes that you say you will.

3. Be generous. This is in terms of the sharing opportunities that arise. When you bring new opportunities first to your carrier partner, then everybody will end up benefiting from an equitable agreement.

4. Start off with a plan. One of the best ways of avoiding a rocky start that could ruin an otherwise good relationship is to make sure that you start every new partnership with a plan. Allow a considerable amount of time for the carrier to get their system up and even train to take on new lanes and freights.

5. Avail all relevant data. The data that you provide during bidding process will largely determine how prepares the carrier is with regards to freight characteristics and location or even seasonal changes in terms of volume. It is therefore very important that you provide freight characteristic percentages and also monthly volume in addition to tonnage data and lane data that you give.

6. Keep communication lines open. Reviewing performance metrics, options and new services are always a good way of strengthening relationships. As a shipper consider holding regular meetings with carriers to discuss what matters most to the business. Using such meetings, you can come up with strategies to reduce costs and improve the business. Working together and communicating on a regular basis only solidifies the shipper-carrier relationship.

7. Embrace technology. In the same manner you expect real-time data on your shipments from your carriers you should make it equally easy for the carriers to transfer the data that you need. Choose programming options that offer them an accurate and smooth system of transferring the data that you need. There are so many technological tools that you can choose to make improvements to the business and relationship.

Posted in Uncategorized | Comments Off

Get Your Inheritance Quickly

Nowadays, liquid cash is an essential thing. It does not really matter if you are the single heir to a very large estate. Getting it encashed would take you a long time after the descendant has deceased and after all the formal processing has been done. The best solution to this problem is the inheritance advance concept through which the heir to the estate gets the cash right way without any delay. Through this process, the heir gets the advance amount from the distributed amount without having to wait for a long period of time.

An inheritance advance policy gives the heir an option to choose whether he wants the entire amount or wants them in parts in a matter of just three days. The best thing about this feature is that you don’t have to worry about any hidden cost or additional charges for availing this facility. Since this is not any type of a loan there are no approvals required and the heir does not have to worry about repayments. Only the probate or the processing fees have to be paid, which depends on the size of the state and also the amount of money being claimed at once.

The Process of Inheritance

The possession of the deceased first goes to the probate court process. If the heir wants to claim the possession, referred to as estate, then he can avail the inheritance cash advance policy. The concept behind this policy is very simple. Once the state is ready to be distributed, the investor’s amount is cleared off from that amount. The remaining share of the heir, if any, is also cleared off during that point of time. The personal representative of the heir would take care of filling of tax returns and payment of bills which depends entirely on the state government once the probate process of the court is closed.

Eligibility for Inheritance Cash advance

The inheritance cash advance feature does not affect the share of the other heir if any involved in the distribution of the estate. The transaction is made strictly between the investor and the concerned heir. The heir just requires proper verification and paperwork to get his share at the earliest.

Reports have shown that the average time taken to get complete the probate process is 17 months. Thus, this facility proves to be beneficial for the people who wish to get money from their estates at the earliest for bill payments or for an immediate emergency.

Posted in Uncategorized | Comments Off

2 Extra Hours Per Week Can Make You a Millionaire

When you take 2 extra hours of work per week to bring more value to your clients, it may just change your life. What kind of change? How about $1,000,000 worth of change. But first, let see some data, and then I will give you a practical roadmap that you can put into place TODAY!

It’s really scary. 26% of all Americans have $0 in their savings account. 7% don’t even have a savings account! The average American has $4,436 in their savings and 76% of families are living paycheck to paycheck. The average person in their 60’s has less than $200,000 in savings for retirement. It’s not surprising that most people just don’t believe in the idea that they really can become millionaires. But what if I could show you how? What if I could show you how to make an extra $2,000 per month, and if you invested over just 20 years, you would easily turn into $1,000,000+? Would you do it? If your answer is YES, then keep reading.

Let’s take a real life example that I just set up for my personal trainer Josh. It’s a perfect example of how he, you or anyone can do it. Josh was charging $50 per session and had 15 weekly clients that worked out with him an average of 3 sessions. That translates to $2,250 per week or $9,000 per month. When I posed the $2,000 = $1,000,000 concept, he loved the idea, but didn’t think he could come up with the extra $2,000 per month to invest. It just seemed like a pipe dream to him. He already had a mutual fund set up, that was earning 6% a year, but it had less than $1,000 in it and he was contributing $100 per month to it. And that’s the problem folks. Many of us have retirement accounts set up, but the deposits we make just not enough to move the needle of our net worth. That is why we need to get to a min. of $2,000 per month of extra cash to start moving the needle. Here is the roadmap I created for Josh to generate an additional $2,000+ per month. The big question was, “How many total extra hours per week will I need to work?” The answer? Two. That’s right, two hours extra per week will make him a millionaire. I’m sure the same could easily work for your business. Regardless of the business you are in.

Here is the roadmap:

Step #1:

Increase the value you bring. In Josh’s case, all he did was work people out. No meal plans, no videos, no body fat index testing, no nutritional or meal prep advise. In short, he offered his clients limited (really zero) EXTRA value. You can’t increase prices without increasing value. So he and I created the following value added programs and he put all of them into action within 1 week. Josh signed up for the email program (there are tons like Constant Contact or MailChimp), loaded in his client’s email addresses, and boom, he had a platform to get value added messages to them at anytime. He then created content via a simple, one-page weekly newsletter, that was emailed out on Monday morning at 6 am. In the newsletter he offered great recipes for easy to cook meals. He talked about nutritional suggestions along with vitamin and supplement recommendations. He told his readers about local farmer’s markets in the area and what was in season at them to buy and eat. He even offered a DATE NIGHT SUGGESTION section in which he suggested that his clients go on a data night and why it was important to your marriage and mental health along with great locations and destinations to make it extra special. Lastly, he started to record himself doing workouts and impeded them into the newsletter so that his clients to do them on their off days. Get the picture? He started adding a foundation of value added services that informed, educated and entertained his client base. Total time per week? 2 additional hours.

Step #2:

Raise Prices. We raised his rate from $50 per session to $60 per session. $10 bucks, a small amount. But not all clients went for it.

Step #3:

What did his client say? He lost some clients who were not willing to pay the extra $10 bucks. They didn’t see the value add of the newsletter, because they never had it in the first place. They just wanted to cheaper price. No problem… that is the point of step #3- to test your client base and the value you bring to them. In Josh’s case, he had some cheap clients AND he was not bringing enough value to them. So they left him. If you raise prices without providing enough value to your clients, some will leave you too. And they should! Value is the key in today’s crowded and cloudy marketplace. You must deliver value that exceeds the price you charge.

Step #4:

Put on Your Selling Hat. Josh lost some clients, so he had to get to selling to find replacements and a few more. But now, he was starting with a new price ($60) and a new product offering. This time it was – “Josh aka The Super Trainer”, who cares about his clients more than anyone else and he proves it each and every week through the content he puts in his newsletter. He was now focusing your muscles, your mind, your food intake and even your relationship. He started asking for referrals from his existing clients and asked them to reach out to their family, friends and co-workers. I also had him talk to some of the busiest trainers at his gym and asked for their overflow, the clients they were just too busy to take on. Within 2 weeks he replaced the clients who dropped out when he raised his prices. It was ridiculously easy to replace them and he actually added 3 more for a new client base total of 18.

The end result:

Josh now has 18 very satisfied clients who get his VERY informative weekly newsletter and can watch his specific workouts on their off days. His new client base are all paying $60 per session X 3 sessions per week, and it now equals $12,960 per month. An increase of $3,960 over his prior income level.

I almost forgot… how will Josh’s extra 2 hours per week make him over $1,000,000 and why should you tweak your business to find $2,000 per month to invest? Here is how it will work out for Josh. He is 30 years old. He will now increase his monthly investment from a hundred dollars to $2,000 per month because he has $3,960 more money coming in per month. Even after putting $2,000 away, he still has $1,960 more money than month! His $2,000 will go into the same mutual fund that has an average annual rate of return 6%. At the end of 21 years, it will be worth $1,017,000. He will be 51 years old and have $1,017,000+ in his retirement account! If Josh wants to continue this until he is 60 years old, he will have $2,011,000. It can happen if you just start. It’s easier if you start in your 20’s or 30’s, but it can be done if you start in your 40’s, 50’s and even in your 60’s.

2 hours extra per week, and $2,000 extra per month are magic

Posted in Uncategorized | Comments Off

Reasons Why Online Bill Payment Is a Must

There was a time when people did not feel at ease with paying their bills online. Most of them find it hard to trust the security of transacting on the web, and thought they have no control over their money with online bill payment. When you submit your checking account details to your insurance company or utilities provider, there is a risk that you could be overbilled or that your identity could get stolen. It seemed safer to write checks and stamp envelopes, which is why many people stick to that practice.

However, this is no longer the case. More individuals are paying almost all bills you can imagine online – like credit cards, loans, mortgages, rent, tuition and utilities, to name a few.

Why then should you choose to pay your bills over the Internet? As a start, you will be able to save on time as well as costs of postage and late payment charges. Also, paying online is safer than through snail-mail. Your personal details are more prone to risks like theft when on print and in motion via the postal system. When you pay your bills with your credit card, it is easier to monitor your finances and, furthermore, you can save airline travel miles as well as win cash-based rewards.

There are three simple ways to make an online bill payment: via your bank, on the website of the biller or through a third-party. Each comes with pros and cons so the method you decide on depends on your personal choice. There are good reasons why you should move forward and pay your bills online.

Whenever online bill payment comes to mind, you might think it involves setting up automated drafts from your bank account to pay your bills. However, more and more people are choosing to pay their bills online using their credit cards. More merchants, as well, accept credit card payments online, so if you prefer to pay your bills – including mortgage or rent – using your plastic money, you can do it.

Without a doubt, online bill payment is easier and quicker than check and snail-mail method. Essentially, it gets rid of issues involving procrastination. You do not need to worry about forgetting that your bills are way past their due date. You can arrange a monthly payment schedule via your bank or billing company and therefore, always pay on time. Even if you pay your bill online every month rather than do automatic payments, you can still save on time, stamps and disappointment. Granting you are paying online at the last minute, you still save precious time because online transactions are faster than processing mailed payments.

Once you are online, you could possibly face the risk of hacking, viruses and spyware (automated payments reduce these risks), but there is a considerable risk when it comes to mail theft. It is better to avoid mailing paper statements, personal information and checks. Moreover, when you make an online bill payment, you always have an option if ever there is a dispute because you can track records of paid amounts and pay dates.

Therefore, in contrast to the former belief of other people, online bill payment is a lot safer than snail mail, coming with additional protection whenever you pay your bills with a credit card.

Posted in Uncategorized | Comments Off

Streamlining Balance Sheet: Key to Efficiency and Productiveness

Balance Sheet, which tells us about the financial position of a company, is one of the most significant financial statements for analyzing the solvency and liquidity position of any company. Often it has been noticed that in order to curtail costs of an organization, the main focus is on Income statement or profit and loss account, but in reality, a tight management of balance sheet results in surplus Cash and provides a good investment return to the shareholders. Inefficient balance Sheet management or Asset – Liability management often shows inefficiency and ineffectiveness on part of management. It shows that there is either over or underutilization of capital and unproductive fixed assets in the company which is resulting in tying up of capital in low-value projects. It might further reflect a poor liquidity position of the company and show that it does to have enough funds the meet its short-term liabilities. By managing the following key areas a company can liberate cash and put it in productive ventures.

1. Capital Structure-Capital Structure of a company shows the way finance has been raised in a company. A company can raise money through internal or external sources. A highly levered firm would reflect that the funds have been raised through external sources like loans, debentures, and it also suggests that the company has the capacity to take risks, aims at having a high growth and has more money for growth and expansion. On the other hand, a low-levered firm would the money invested by the shareholders in form of common equity, preferred stock and retained earnings for making investments in various assets and projects. Depending upon the company’s stage of development and nature of business,a right mix of internal and external sources should be there so that a company has a good solvency position and is able to meet its long-term obligations. Capital ratios such as Debt-Equity, Total Debt to Total Capitalization provide an insight into company’s capital position and further help in strengthening the balance sheet,.

2. Capital Deployment and Management-Often it has been seen that although the directors of the company are aware of the money raised but they are unsure of the places where the funds have been deployed which often lead to a decrease in economic profitability of resources. Tracing of capital to each department, unit or division helps the management to make sure that each penny is being utilized to the optimum and also helps in releasing of capital from the units where they have been over-allocated. Further, effective control measures of capital allocation can be implemented in the company to achieve a higher return on investment for the shareholders.

3. Fixed Assets Management- Resources of the company must be invested in those fixed assets, which are profitable and give return to the company in the future years. With the help of capital budgeting, a company can decide whether to make an investment in a particular asset or not.Some of the widely used capital budgeting techniques are Net Present Value, Internal rate of Return, Pay back method which help in evaluation of various long-term assets, and the cash flows that they will generate during their useful life. If a company has assets which are inefficient or on longer in use, steps should be taken to dispose of, so that the surplus cash from those assets can be used for productive purposes and value creation for the company.

4. Working Capital Management- Working Capital Management forms an integral part of a company as it ensures that a firm has enough current assets to meet its current liabilities. If a company has a high working capital it shows that there is an ineffective use of short-term assets, which might be used for some other purpose. And again, too low working capital results in a liquidity crunch and reflects the firm’s inability to pay off its short-term debts.

With the help of financial analysis, a company can maintain the right level of working capital and have good liquidity position. Current ratio, liquidity ratio are some of the tools which help the managers in knowing that the company’s current and liquid assets are used economically and they would have no problem paying their short-term liabilities.

Asset -Liability management has become an integral part of every company as it ensures freeing up of cash and using it productively to have higher returns. Proper management of working capital, right kind of financing mix, liberating cash from unproductive assets help companies in streamlining their balance sheet and redeploy the resources to generate higher returns and maximize shareholders wealth.

Posted in Uncategorized | Comments Off