In this episode Brock talks with Tom Croteau. Tom is a former Air Force maintainer, and the current president and owner of Operfi. Operfi is a factoring company serving the $800 billion trucking and logistics industry. In this conversation, you're going to learn what factoring is. We get into Tom's training and education program he's currently building out for his carriers. Tom gives us a pulse on the economic forecasts for trucking.
Episode Resources:
Show Notes:
Introduction to Tom 1:38
Studying entrepreneurship and business at Notre Dame. 7:44
Leaving more on the table in the military. 10:18
What is factoring and why does it matter? 16:06
The difference between distressed and entrepreneurial factoring. 18:32
What are the fees of factoring? 24:46
How much does it cost to do factoring? 26:40
Protecting the golden goose (customers). 32:12
The data business behind trucking 38:45
Driving across the country handing out business cards at truck stops. 50:40
The bottom line on freight rates. 56:51
How trucking is a leading indicator for the economy. 59:35
The big opportunity for veterans in trucking. 1:05:11
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The Scuttlebutt Podcast - The podcast for veteran owned businesses. Show host, Brock Briggs, talks with veteran owners and operators about specific tactics they're using to start, buy, and grow business. Get the tactics, templates, and case studies from the conversations for free at https://www.scuttlebuttpodcast.co/.
