Countless people are interested in learning how to become a freight broker because of how much money can be made in the freight industry. However, the industry is more competitive than most people expect and new regulations and amendments to existing ones can make things complicated. We’ve talked to numerous industry experts when we were still founding Asani Global and here is some of the effective advice we received from a 20-year brokerage that proved critical to us achieving the massive success we are enjoying today.

1. Stay Positive at All Times

Running a freight brokerage firm can be stressful and frustrating. You will constantly be forced to deal with things that are beyond your control. A positive attitude is essential in order to get through all of these challenges and obstacles. Eliminate self-doubt. The last thing you need is your inner voice telling you that you cannot do it. Flush out all those negative thoughts and focus on the task at hand. A clear mind will help you make the right decisions.

2. Find Your Niche as Soon as Possible

Don’t start your freight brokerage trying to become a jack-of-all-trades. Find your niche immediately. Determine a sector of the industry where you can specialize in. Specializing in just one area of freight will allow you stay focused and deliver better brokerage services which will ultimately translate to more earnings. Going as little as possible also trims down the number of companies you have to compete with. Before you expand into other areas, make sure you master your current niche first.

3. Take to Heart the Pareto Principle The Pareto Principle, also referred to as the 80/20 Rule, should be the guiding standard of all freight brokerage companies. It states that for many events, roughly 80% of the effects come from 20% of the causes. In other words, 80% of your sales will come from 20% of your customers. Many freight brokers mistake growing their customer list as the first priority when in reality, they should be focused on engaging their current customers. Concentrate on income producing activities (IPA) such as talking to and invoicing clients. Nurturing your current clients comes first. Prospecting for new clients comes second.

4. Keep Moving Forward

Freight brokerage is not for those who give up easily. You need to be persistent. You will inevitably make mistakes and suffer failures. Get back up whenever you fall and keep pressing forward. Even when everything seems to be going against you, just keep walking. Your hard work will eventually pay off.

5. You are the Most Important Asset

You are the most vital asset of your freight brokerage business. Invest in yourself. Learn more knowledge and develop new skills. Invest in your health so you can always give your 100% towards the betterment of your company. Develop your attitude into that of someone worthy of becoming a successful freight broker. Find a mentor who can guide you towards sustainability and a resounding reputation.

If you are serious about becoming a freight broker, keep these five tips to heart.