In this episode of the Trucking Entrepreneurs Podcast, our guest is Jamie Irvine. He is a Consultant Working with Forward-Thinking Heavy-Duty Parts Companies. He is also the Host of The Heavy-Duty Parts Report, a podcast where he interviews heavy-duty parts specialists and industry professionals with expert advice about heavy-duty parts, tools, and technology that saves fleets money. Today, he joins us to talk about the future of the Trucking and Logistics Industry and how it affects every other industry in society. You don't want to miss out on (ALL) this knowledge and wisdom shared by Mr. Irvine in this episode. Grab your favorite beverage, relax, and enjoy!
Ups and Downs
Jamie worked for a manufacturer for 10 years. He then worked for a distributor of Heavy Duty Parts owned by NAPA Auto Parts. During that time, he made lots of money which he used to start his own business. After four months, he decided to end the business. With only $700 to his name, he was able to leverage his network of people and start a contracting business in Vancouver.
Pivoting towards the Future
One of the things Jamie realized was that he made mistake of not focusing enough on one industry. Jamie then decided to pivot and look towards the future of Heavy Duty Truck Parts. He set himself apart from the industry even though there was a disruption that the digital technology was bringing to other industries.
Envisioning Heady Duty Parts
In 2009, Jamie formulated plan to build a consulting business with a partner. But that plan disintegrated when his partner didn’t want to go through. Jamie had to pivot again to a whole other industry. Jamie then started his podcast which was supposed to be a feeder into a coaching business. When he envisioned the Heavy Duty Parts Report, he envisioned it to be a conduit to find people to sell parts through an E-Commerce platform or a partnership with a parts distribution company.
Changing the Game
Many times, you make the best plan you can with what you got and you take a step forward. By doing that allows you to change the game. From there, you have to adapt and pivot and you have to let the market tell you where to go. You have to solve a problem and fill a need in the market to be successful in business. So you have to be flexible, but at the same time, you can't be inconsistent.
Change thrusts upon us by global events or by things that are personal or in our community. Prior to like leading up to the pandemic, Jamie always talked about adapting and including digital sales channels inside a manufacturing company for parts. Because of the pandemic, whole landscape inside the trucking industry shifted. Jamie saw an opportunity where digital became essential to making his business move forward. Jamie says that when attitudes change, people are realizing that there are gaps within their own companies and they need to fill those gaps. Sometimes, the worst things that happen can also lead to positive things for you and your business.
How the Trucking Industry is in the Heart of Every Industry
All infrastructures are supported by the trucking industry. All of the necessities of life, including food, medicine, water, clothing, is provided by trucking. Most communities have about three days of supply when it comes to food and medicine. The trucking industry is largely unseen. People only see trucks travel the highways and they go into the industrial parks. But that doesn't mean that big trucks aren't involved in every aspect of their life.
The Bigger Problem
The pandemic illuminated a problem that was unseen before, which is losing visibility of your parts. What happened before the pandemic was that people just didn't pay attention to that enough. There was the adoption of new technology like the electrification of the industry that dominated fleets. But with supply chain issues, it became a real pain point. It highlighted a bigger problem, which is that fleets need to maintain visibility of their parts from the moment that they order it. And they need to know right from the manufacturer through the distribution channel, whether it's an independent distributor or a dealer.
Treasure the Best Parts
Companies need to keep the best parts of the traditional distribution channel. They need to re-envision the buying journey for fleets and for owner operators. They need to make sure that digital tools are leveraged in a digital sales channel that makes it as efficient and as easy and maximizes the visibility of where parts are in the supply chain for the end user.
How Technology will Shape the Future
Technology is going to help the trucking industry fight off the full impact of this demographic inversion that the West is experiencing. Inflation will not go away for the next 10 years. So technology will actually have an impact on every industry’s bottom line, as well as help them be more efficient in their business.
The Opportunities in the Trucking Industry
The Trucking Industry is a wonderful industry to work in with opportunities to make income that is above average for your education level. Many of the people who maybe have a four year bachelor's and university who go into other industries are able to make $40,000 to $80,000 a year as a salary. You could be making that or more within a very short period of time. So don't discount this industry. And this industry is an industry that is full of need.
Riches are in the Niches
You have to find your little space within the industry and your little specialization. You will be amazed how it can open up opportunities for you. And develop relationships with people. Talk less and listen more to what they have to say.
*Anuj Agarwal - Feedspot the founder of Feedspot.com notified us that The Trucking Entrepreneurs Podcast has been selected by their panelist as one of the Top 25 Best Logistics Industry Podcasts on the web. Currently we're ranked #9. https://blog.feedspot.com/logistics_industry_podcasts/
Host | Consultant
Jamie Irvine began working in the heavy-duty parts industry in 1998. He is a serial entrepreneur, marketing consultant, and host of the industry-leading podcast The Heavy-Duty Parts Report.