Sep 11, 2024 at 11:12 AM CST
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Posted by a private BulkLoads.com member.
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Posted by a private BulkLoads.com member.
In the bulk freight industry, relying on a single revenue stream can expose you to market volatility. Diversification—both in the freight you haul and the services you offer—is essential for long-term stability. King Solomon’s timeless advice from Ecclesiastes 11:2, “Give a portion to seven, or even to eight, for you know not what disaster may happen on earth,” encourages us to spread our ventures to protect against uncertainty. At our company, we’ve embraced this principle ourselves, expanding into multiple businesses within the trucking and logistics space. From freight factoring to dispatch solutions, we’ve seen firsthand how diversification can create resilience. Real-World Examples of Diversification
We’ve applied these principles of diversification in our own operations as well. Over the years, we’ve expanded into various businesses to create more opportunities and spread risk:
Solomon’s advice to spread your ventures is as relevant now as it was in ancient times. In trucking, where markets shift and demand fluctuates, diversification is essential. Whether it’s adding a brokerage, launching a new service, or investing in unrelated industries like real estate, spreading risk protects against unexpected downturns and creates opportunities for sustained growth. Our own experiences with Smart Freight Funding, BulkTMS, Bulk Insurance Group, and Bulk Permitting have shown us the value of staying flexible and open to new ventures. Diversification isn’t just a safety net—it’s a path to long-term success. God Bless, Jared |