E99: Migway: From Zero to 250 Trucks

This Podcast is Brought to You By BasicBlock.io, the #1 Rated Freight Factoring Company. Visit BasicBlock.io to learn more. David Voronin is the President and CEO of MigWay, Inc., a trucking company based in Pineville, North Carolina. In a recent interview on The FreightCaviar Podcast, David shared his journey of building MigWay into the successful trucking company it is today. Here are three ways he’s been able to grow his company from zero to 260 trucks. 1. Data is King David believes in the power of data to drive his business forward. Initially, David used the money from his construction business to buy two semis he leased out. After seeing that he could do things better, he decided to start his own company. From early on, David’s wife used Excel to collect valuable data, allowing him to predict his company's growth and make detailed projections easily. By continuously studying the data and the market, they saw it was much more profitable to do triangle routes.Data also showed them that they could beat out average DAT van rates by 20-30% consistently year over year, informing his decision to take a gamble and treat customers like spot rates. Now they run 50% from customers and 50% from DAT. That has allowed them to maintain a good position in the current market. 2. Hard Work and Motivation David was willing to sacrifice his personal life and comfort for the success of his business.For the first three years, he did not allow himself to go on vacation. For the next two years, his wife would go, but he stayed behind. David is driven by an "obsessed motivation" to work harder than his competition. And the current downturn hasn’t slowed him down. He says it’s the perfect time to prepare for another big leap. So it’s back to the excel sheets plugging and crunching numbers. 3. Clear Values and a Clear Mission Though he had that compulsive drive to succeed, it wasn’t all about making money. David’s goal has always been to “build a great company that enriches the lives of [his] employees.” David reveals they spent $1.5M on marketing to ensure what MigWay stands for as a company is clearly and loudly communicated to potential customers.“When you put something above money, I think everything else just starts to go to a different level, and the customers felt that,” he says. Catch the full episode on the FreightCaviar Spotify or Youtube channels to hear more, including David’s plans to reach 1000 trucks by 2029.