U.S. DAB Digest Nov. 9, 2020

November 09, 2020

In this Issue:

  • Virtual Annual Meeting Remains Available On-Demand Through Noon, November 25
  • DAB Task Force Meetings Continue
  • Walkboard Wisdom
    • Business Expansion to Fill the Gap
    • Diversifying in Today’s World
    • Diversification: Definition, Levels, Strategy, Risks, Examples
    • Diversification Strategies: Related and Unrelated Diversification
  • Member Spotlight
    • Caleb McCartney
    • John O'Connor

The U.S. DAB Digest - IAM's DAB Newsletter

DAB Update; Business Expansions for the Changing Market

IAM e-Gov/Mil

Connecting Asset-Based Movers across the U.S.

Virtual Annual Meeting Remains Available On-Demand Through Noon, November 25

All of the recorded sessions remain available for viewing and re-watching, Exhibitor pages are still up, and you can continue to chat with some attendees.

 

 

Several DAB-centric sessions were held, with many individuals in attendance, and a number of learning labs as well. Go and

DAB Task Force Meetings Continue

The DAB Task Force met on Nov. 4 to discuss a number of topics - size of the task force, composition, role of the task force, what it means to be a DAB, and more. One item that was decided was the name of the DAB newsletter - The U.S. DAB Digest. This is an evolving group led by a number of motivated, driven IAM members. IAM staff is excited by this opportunity to work with such committed and excited members!

 

Walkboard Wisdom

Business Expansion to Fill the Gap

By John O'Connor

When looking to expand your business you have two distinct avenues of growth. Those two avenues are expansion and diversification. Expansion would be to go out and get new customers. Although this will grow your business, it will not resolve one of the major issues of owning a moving business which is its cyclical nature. If you are bound to only household goods moving, you will always be fighting busy summers and slow winters.

Diversifying in Today’s World

By Caleb McCartney

The one thing we can count on in any industry is change, this is especially true in our industry. As the moving and storage industry continues to consolidate and the external pressures of the world change the environment we work in we must adapt to stay alive. The two articles below discuss important different diversification strategies.

Diversification: Definition, Levels, Strategy, Risks, Examples

Generally, diversification means expansion of business either through operating in multiple industries simultaneously (product diversification) or entering into multiple geographic markets (geographic market diversification) or starting a new business in the same industry.

Diversification Strategies: Related and Unrelated Diversification

Diversification is the art of entering product markets different from those in which the firm is currently engaged in. It is helpful to divide diversification into ‘related’ diversification and ‘unrelated’ diversification. A related diversification is one in which the two involved businesses have meaningful commonalties, which provide the potential to generate economies of scale or synergies based upon the exchange of skills or resources.

IAM Mobility Exchange Status Map

 

Member Spotlight

Caleb McCartney

Caleb McCartney serves as General Manager of Cornerstone Moving & Storage, a family owned and operated company providing top-notch residential, commercial, international and DoD relocation services to Northern Virginia and beyond. Caleb joined the business’s Operations Department in 2015, electing to spend his first summer in the warehouse and on the trucks gaining valuable experience that would eventually help him more effectively lead the company and its employees. Shortly after that first summer, he was promoted to Operations Manager where he furthered his knowledge of the industry’s ins and outs before rising to his current position as General Manager. He is now responsible for the management of all business operations including handling the company’s military SCAC, rate filing, compensation agreements, DOD relations and marketing, as well as leading the day-to-day operations of the company’s 60,000 sqft. facility and team of employees.

John O'Connor

John O'Connor was first introduced to the moving industry as a summer job and soon after had an opportunity with his twin brother, Mike O’Connor, (thus Twin Oaks Moving) to purchase a satellite operation from my college roommate's family. Having represented several Van Lines over the past 35 years, we have settled into the flexibility of being an independent mover concentrating on GBL and COD moving, O & I, along with East Coast hauling. In addition, we have ventured into freight forwarding (Dice Forwarding) and port services (Eastern Port Logistics).

Quick Links

 

 

 

 

Write for The Portal magazine!

 

IAM Podcast

 

Stay Connected

 

facebook
twitter
linkedin
youtube
Subscribe to IAM News

 

International Association of Movers | 703-317-9950

|

5904 Richmond Highway

Suite 404

Alexandria, VA 22303

 

|