Mike Riccio, Founder of More Than Miles Consulting and Co-Founder of Open Road Ventures, joins Will Jenkins to talk about scaling a freight brokerage, building a business plan your team can follow, and preparing for growth or an eventual exit. Mike brings nearly four decades in transportation, including helping build Leonard’s Express and later working directly with brokerage owners through More Than Miles Consulting. He explains why owners sometimes need to slow down before moving faster, define where the business is going, reverse engineer the steps to get there, and stay focused when day-to-day problems start pulling the team off course. They also talk about getting employees connected to the bigger direction of the company, freight brokerage acquisitions through Open Road Ventures, succession planning, business valuation, partial exits, and what owners should think about before selling.
Mike Riccio, Founder of More Than Miles Consulting and Co-Founder of Open Road Ventures, joins Will Jenkins to talk about scaling a freight brokerage, building a business plan your team can follow, and preparing for growth or an eventual exit.
Mike brings nearly four decades in transportation, including helping build Leonard’s Express and later working directly with brokerage owners through More Than Miles Consulting. He explains why owners sometimes need to slow down before moving faster, define where the business is going, reverse engineer the steps to get there, and stay focused when day-to-day problems start pulling the team off course.
They also talk about getting employees connected to the bigger direction of the company, freight brokerage acquisitions through Open Road Ventures, succession planning, business valuation, partial exits, and what owners should think about before selling.
CHAPTERS:
00:00 Meet Mike Riccio
01:05 Nearly 40 years in trucking
04:24 From family business to consulting
06:11 Helping brokerage owners avoid common mistakes
09:30 Why simple processes work
12:50 Setting the vision before scaling
14:42 Control what you can control
16:46 Turning goals into a plan
17:46 Slow down to speed up
19:05 Getting employees connected to the plan
21:39 Open Road Ventures and freight brokerage acquisitions
23:57 How the Open Road Ventures model works
29:48 Finding the right acquisition partner
35:36 Preparing for a partial or full exit
FIND MIKE:
More Than Miles Consulting: https://www.morethanmilesconsulting.c...
LISTEN TO THE JOURNEY PODCAST:
Spotify: https://buff.ly/4aTO9Lu