Hello to all my Million Dollar peeps! As always, I hope this message finds you doing well and business is booming!
I had hoped to make a very in depth video this past weekend discussing some very important topics, but time simply wasn't available. I hope to do it soon. We have a lot to discuss that directly affects you and your money.
Because time is of the essence, I'm just gonna "hit you right between the eyes" with a hard dose of reality with some critical points:
1.0. If you aren't cultivating direct pay contracts and agreements outside of broker work, you're jeopardizing yourself. How much? I can't say, but you're basically creating a ticking time bomb.
Why do I say this? How do I know?
Because multiple brokers have now said to many different transportation providers "We can't pay you because out money was in SVB," etc., etc., etc.
1.1. Other providers are receiving notices of partial payments - which is actually in direct breach of their own Agreements, but they're either hoping you won't notice and/or they know you'll never take legal action, and therefore, they know they can exhaust you financially.
1.2. In similar fashion, some brokers are notifying providers of their need to extend their payment terms. IE: Rather than paying Net 15, they're pushing it to Net 30 and Net 45.
Not only does that affect your cash flow, but especially when you consider my previous point, 1.0., do you really want to play the game of "let's wait and see?" More specifically, they push payment terms to Net 30, then Net 45, and when that day comes, will the money/payment really be there?
1.3. As I've mentioned many times before, you NEED to be focused on strong positive direct pay/private pay cash flow, cash flow, cash flow. Working for a broker is like working for slave wages. The difference between that business model versus an employee is.....wait for it......none! You can't control your wages.
Especially in this current economic climate, the last thing you want to do is be a wage slave - bottom line. You have no control. You can only receive.....the short end of the stick!
1.4. There are many other "tricks" that brokers are attempting to pull to further control your business and reduce the amount of money they need to reimburse you, but I'll save that for my next video.
I'm literally sitting at a rest stop as we speak reading an email from another provider who received notification of the need for the broker to change their payment terms. Hence, the inspiration for this message. I need to be in front of my computer for the next video, otherwise, we'd be having another "road-side chat" video!
2.0. For those of you who we've worked with in the past and created contracts and agreements, it's probably time review those contracts, agreements, and rates of reimbursement.
We all know, see, and feel the growing inflation and economic crisis. It's quickly driving up cost on everything with no end in sight. Because you have direct pay and private pay contracts, you have leverage and it's time to increase your rates.
2.1. If we've working with you in the past and you know it's time to re-engage to re-strategize to renegotiate your rates, contact my peeps and they will send you a link for continued one-on-one work.
2.2. Trust me, every business and industry has their own problems and issues. Everyone is experiencing the pain of inflation, labor issues, etc. I get all that, but they're not my problem. I only care about our peeps in the NEMT, home care, and our YATB Licensees.
2.3. If you're reading this message and you rely on broker work and have no direct contracts or direct pay agreements, just know that the 6th round of Russian roulette doesn't end well!!
Seriously, think this thing through. You can argue all you want - are we in the 5th or 6th round of this game of Russian roulette, but even the haters reading this message can't argue with reality if/when they get hit with a "We can't pay you because our money was in SVB (or another bank that's closing)," or "This is to notify you that effective immediately that [Name] is extending our payment terms to Net 45."
2.4. If you need help in transforming, reshaping, and redirecting your business, reach out to my people and they'll do their best to answer your questions. If you're serious about moving forward in enlisting our help, my peeps will get you signed up with exclusive coaching.
2.5. For those of you moving forward, do it ASAP so they can get your market analysis project added to our queue ASAP. Those projects take quite a bit of time and it's a critical strategic resource when it comes to mapping out your actions and business plan preparation.
3.0. We have some key buyers in key locations with "cash in hand." If you operate your business in the Cleveland, Orlando, and San Antonio areas, you have a quality and established business, and you're serious about selling, let us know. My peeps will send you a very brief questionnaire to get some preliminary information from you to determine if you would be a good fit for our buyers.
3.1. If you're looking to purchase an existing business, feel free to contact us. We'll let you know if we have a seller in that target area.
Notice, we NEVER publish where we have businesses for sale. Why? Because unlike tradition business brokers who are desperate to sell whatever they can as fast as they can to earn commission and put food on the table, I don't want our sellers to be made public or mass-advertised.
For a wide variety of reasons, mass-advertising a business for sale is a disservice and jeopardizes the business. It puts existing accounts and contracts at risk. It jeopardizes employee retention, and more. Selling a business needs to be handled very strategically.
3.2. As another side note, if you've retained my services, USE ME (and my team)! That's what we're here for - to help support and advise you for the best possible outcome.
Seriously, stay engage and contact us. We don't turn away and have never told our active client-providers to "stop emailing us," but at the same time, we can't babysit people and won't chase you down. We work with a lot of people and no one has time for that.
We just had a buyer COMPLETELY botch a multi-million dollar deal - as in one of the BIGGEST F-ups possible! This deal would have completely changed the entire trajectory for this buyer's financial future literally on the day of closing.
Initially, the seller had NO intention of selling. Why? Because they didn't have to! Their business is BIG PIMPin! - a ton of direct pay and private work.
The buyer was willing to stay with the business post-acquisition to further grow and expand the business in different directions and into new markets. The entire stage was set, we just needed to coast to closing.
At the midnight hour, the buyer TOTALLY botched the deal with absolutely rookie foolishness and stupidity. The seller was forced to basically tell the buyer to "kick rocks."
As you can imagine, I've seen a lot of craziness over the last 20 years, but this was easily a top classic all time rookie F-ups. As the buyer professed, "I should have reached out to you before doing that."
What's my point? If you're using my team and me.....USE US!! That's what we're here for!
I apologize for the long-winded message, but would you really expect anything less?
See you at the Top!
Joel E. Davis | 
