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Best Practice Groups
The foundation of the TPP are the Best Practice Groups. These groups are comprised of the top executives from non-competitive companies with similar operating concerns and challenges. For example, all of the members of a certain study group may be refrigerated carriers, but each member operates in different lanes or sub-specialties, so there’s no competitive conflict between the members of a group.
The similarities between the members of the group ensure that they share common concerns, yet the diversity of the members leads to sharing multiple skill sets and different approaches to resolving those shared concerns.
By not having competitors in the same group, members are much more comfortable sharing financial statistics and best business practices, as well as being likely to share more detailed and timely information than they would with a direct competitor in the same room.
The overall logistics behind the group meetings are managed by TCA, most details including the meeting formats, locations, schedules and topics are determined by the group members themselves. Acceptance of new members is also determined by the existing group members.
One tip learned in a group meeting has consistently saved us over $100,000 per month.
To participate in a Best Practice Group, the first step is to fill out a carrier profile containing demographic information about your operations. A TCA staff member will review that information to match you with the most appropriate group, while ensuring there won’t be any competitive interests within the group. Once this is done, staff will guide the prospective member through the process of generating the financial reports used in the group meetings.
After a potential match is determined, the prospective member will attend the group’s next meeting as a guest, enabling the existing group members to determine how well the prospect would fit within the group. Once accepted by a group, your company’s owner or senior executive is expected to be an active participant in each of the group’s meetings.
On a continuing basis, each group member prepares and submits key financial data from a prior quarter. That data is then compiled into a scorecard report showing the performance of every member in the group, and shared within the group.
To start participating, contact TCA's Chris Henry.