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40

       Pay Day: How to Pay Yourself

      CHAPTER 41

       Tax Talk: What You Need to Know About Your Taxes by Joan Szabo

      APPENDIX

       Business and Government Resources

       Glossary

       Index

      Additional titles in Entrepreneur’s Startup Series

      Start Your Own

       Arts and Crafts Business

       Automobile Detailing Business

       Bar and Club

       Bed and Breakfast

       Blogging Business

       Business on eBay

       Car Wash

       Child-Care Service

       Cleaning Service

       Clothing Store and More

       Coaching Business

       Coin-Operated Laundry

       College Planning Consultant Business

       Construction and Contracting Business

       Consulting Business

       Day Spa and More

       eBusiness

       eLearning or Training Business

       Event Planning Business

       Executive Recruiting Business

       Fashion Accessories Business

       Florist Shop and Other Floral Businesses

       Food Truck Business

       Freelance Writing Business and More

       Freight Brokerage Business

       Gift Basket Business and More

       Grant-Writing Business

       Graphic Design Business

       Green Business

       Hair Salon and Day Spa

       Home Inspection Service

       Import/Export Business

       Information Marketing Business

       Kid-Focused Business

       Lawn Care or Landscaping Business

       Mail Order Business

       Medical Claims Billing Service

       Microbrewery, Distillery, or Cidery

       Net Services Business

       Nonprofit Organization

       Online Coupon or Daily Deal Business

       Online Education Business

       Personal Concierge Service

       Personal Training Business

       Pet Business and More

       Pet-Sitting Business and More

       Photography Business

       Public Relations Business

       Restaurant and More

       Retail Business and More

       Self-Publishing Business

       Seminar Production Business

       Senior Services Business

       Specialty Food Businesses

       Staffing Service

       Transportation Service

       Travel Business and More

       Tutoring and Test Prep Business

       Vending Business

       Wedding Consultant Business

       Wholesale Distribution Business

       Preface

      Do you understand the concept of being a middleman in business? Two companies or parties need to work together, but it takes a third, independent party to bring everyone together, to make the introductions, and then ensure the business transactions that need to happen transpire smoothly.

      The role of a broker is to bring two separate parties together. In a social setting, a broker might serve as a matchmaker and introduce a single man to a single woman. When it comes to buying and selling real estate, for example, it’s a real estate broker who brings buyers and sellers together. A stockbroker, for example, brings investors and companies that are selling stock together.

      Meanwhile, it’s the job of a freight broker to bring shippers and carriers together. This may seem like a simple and straight forward endeavor, but there’s a lot of problem solving and logistical work that goes into becoming a successful freight broker.

      Of course, when your great aunt Agnes wants to introduce you to that “perfect” person, the only reward she’s hoping for is the satisfaction of being the catalyst behind a successful relationship—and perhaps some recognition at the wedding. But in business, brokers expect to be compensated for their matchmaking efforts, and justifiably so. Brokers perform an extremely valuable service, bringing together buyers and sellers who might not otherwise be able to find each other. Brokers assist in negotiating the terms of the transaction, and then often oversee the transaction from start to finish.

      Brokers in passenger transportation are typically known as travel agents. Their function is to identify and arrange the most appropriate travel methods for their clients, whether it’s booking a single, one-way seat on an airplane, or putting together an elaborate tour package that includes surface and air passage, hotels, meals, and recreation.

      On the freight side of the transportation industry, the primary role of a broker is to help companies that need to ship cargo find a trucking company that can deliver the shipment on time and in good condition, plus provide any extra services that may be required—all at a competitive price.

      As you’ll discover, becoming a successful freight broker will require you to seek out shippers and carriers, manage these relationships, continuously overcome challenges that arise, and work under tight deadlines. Your ability to multitask, as well as tap into your communication, time

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