University of Cincinnati, bachelor of science degree, transportation
What is the most important business lesson you’ve learned?
Always plan, plan, plan. I can never say it enough. If you know where you want to go, then you’ve got to sit and think through the plan on how you’re going to get there. Planning has always been high on my priority list.
Planning and then preaching safety in our company. I’m a big advocate of safety and making sure safety has always been our top priority at Liquid Transport.
What is the most difficult business challenge you’ve faced, and how did you overcome it?
In 1985, over the course of six months, we lost our two largest customers to a competitor and we lost our insurance. Our insurance was cancelled. The insurance prices of the mid-’80s ... there were only a very few people that would write insurance. Our insurance carrier actually went out of business.
We only had 15 days to secure new insurance, or we were going to have to close the doors. That was a very dark period in Liquid Transport. We pulled our people together, understood what was happening to us and how we were going to deal with that.
That was actually the start of Liquid Transport’s entry into chemical transport instead of food-grade (transport). When we lost those two major customers, at that point, we were fortunate that we were able to transfer into another marketplace and put those trailers to work.
We were able to get new insurance coverage at a very high rate. We were able to keep Liquid afloat, but we were down to only about three days of keeping our doors open when all this happened.