We’re excited to introduce you to the always interesting and insightful Larry Long . We hope you’ll enjoy our conversation with Larry below.
Alright, Larry thanks for taking the time to share your stories and insights with us today. What’s the backstory behind how you came up with the idea for your business?
Our journey leading to the creation of LJ Long Transportation is a compelling tale of family heritage, passion, and strategic foresight. Growing up in an environment where trucks were more than just vehicles – they were a way of life – I couldn’t have imagined that this early exposure would shape our destiny. In 2013, my brother embarked on his own venture in the transportation industry, launching a dump truck company. As he thrived, we encountered the challenge of seasonality, a lesson that led us to consider diversification for the long-term sustainability of our family business.
The idea for LJ Long Transportation started with a simple yet profound realization: combining my education in entrepreneurship, finance, and economics with my brother’s wealth of experience in the transportation sector could create a powerful synergy. We recognized the potential for year-round demand in long-haul trucking, particularly in auto transportation. People would always require their vehicles to be moved, and this offered a reliable source of business. Furthermore, we believed we could offer a unique approach, combining industry know-how with sound business principles. LJ Long Transportation wasn’t just about transporting cars; it was about doing so efficiently, safely, and profitably.
What excited us the most about this endeavor was the opportunity for growth and the prospect of becoming more than just a “lifestyle business.” We envisioned LJ Long Transportation as a company that provided not only vehicle transport but also peace of mind to our clients, assuring them that their assets were in safe hands. Today, our company stands as a testament to our family’s dedication, my brother’s passion, and my commitment to learning how to manage and grow a business. This forms the foundation for my long-term goal of venturing into the tech industry and establishing a high-growth business. Our journey is ongoing, driven by determination, innovation, and an unwavering belief that success is not just about the destination but the path we travel to get there.
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.
I’m Larry Long Jr and I was born and raised in Durham NC. I grew up hanging out with my older brothers and riding horses in the country. For my education, I went to UNC Greensboro, where I initially majored in music. By random chance, I met a mentor at a gas station who was the CEO of Domtar Personal Care (formally Attends Health Care products Inc) A disposable adult incontinence product manufacturer. He gave me an internship to work for him where I was first exposed to the operations and financials of a large company. When I started working at the Company, they were going through a process of integrating their business with another, after being acquired by Domtar (becoming Domtar personal care) for $315 million. The Company was integrating operations and processes with the parent company. This opened my eyes up to the possibilities of Business. I truly enjoyed learning about every aspect of the company’s operations during my internship. I assisted in integrating the businesses’ process and operations, this resulted in a successful acquisition. The internship prompted me to return to school after the summer and change my major to entrepreneurship, finance, and economics. From a project in my entrepreneurship class, I was able to launch my first startup called Suds Waterless. The Company was a tech-enabled waterless car detailing company powered by college students. Customers were able to schedule a mobile detail through an app and a student would come to their home or job to detail their vehicle using eco-friendly car detailing solutions. I participated in several pitching competitions and accelerator programs building my company. I grew my company to 13 part-time employees (fellow students), over 400 customers, and 10 to 15 corporate partners throughout the triad of NC between 2015 and 2017. The business didn’t work out, but the experience opened up my eyes to the world of venture capital and high growth tech startups. I became drawn into how entrepreneurs turn ideas into companies that sell products and services that impact the lives of others. I learned that my ultimate passion is technology startups. Since entering venture capital as an analyst, I have enjoyed assisting entrepreneurs in securing funding for their dreams/visions and evaluating different types of businesses. I’ve enjoyed analyzing business plans and financial models. To gain managerial experience, I established LJ Long Transportation outside of my job with my brothers. We initially started hauling automobiles, but not we also have flatbed trucks that transport construction and industrial materials throughout the southeast. This is just the beginning for me as I plan to grow a scalable tech company soon.
We’d love to hear a story of resilience from your journey.
One vivid example of resilience on this entrepreneurial path was when I decided to venture into my third business, which is now generating revenue and profit. It’s important to highlight that the journey to this point was far from straightforward. The first two business attempts were met with challenges and, ultimately, didn’t reach the level of success I had envisioned.
In the first venture, I encountered unforeseen market dynamics that led to early setbacks. Despite investing significant time and resources, the business didn’t achieve profitability. But rather than being discouraged, I took it as a valuable learning experience. I embraced the “fail fast, learn faster” mindset, which became a mantra for my entrepreneurial journey.
In the second attempt, I adjusted my approach based on the lessons learned from the first failure. The business had potential, but external economic forces and competition presented formidable challenges. Despite my efforts, this endeavor also faced hurdles that prevented it from reaching the level of success I aspired to achieve.
However, instead of giving up, I am determined to keep moving forward. This resilience and the ability to adapt and learn from past experiences defines the entrepreneurial spirit. It was during this period that I developed a deeper understanding of the importance of strategy, financial management, and industry dynamics.
The third business, LJ Long Transportation, marked a turning point. Drawing on prior experiences and my brother’s expertise in the transportation industry, I entered this new venture with a more strategic and informed approach. I was well-prepared to navigate the challenges and seize opportunities in the market. The determination, the willingness to pivot and adapt, and the resilience built through my previous attempts were pivotal in making this business a success.
This journey underscores the invaluable lesson that entrepreneurship often involves taking risks, encountering setbacks, and learning from each experience. It’s a testament to an unwavering commitment to my vision and my ability to turn challenges into stepping stones toward success. My story reflects the idea that failures are not the end but rather a stepping stone on the path to entrepreneurial achievement.
How about pivoting – can you share the story of a time you’ve had to pivot?
Certainly, the decision to pivot from auto hauling to flatbed hauling was a significant turning point that exemplified adaptability and strategic thinking.
In the early days of LJ Long Transportation, we were primarily focused on auto hauling, recognizing it as a potentially lucrative market. The business was doing reasonably well, but we began to encounter challenges that made me reevaluate our strategy.
One major issue was the inconsistency in work and revenue associated with car hauling. The nature of this niche required drivers to handle the loading and unloading of each car, making it labor-intensive and time-consuming. This not only added to the operational complexities but also introduced a higher level of risk. As I evaluated the market further, it became evident that this segment demanded a tremendous amount of effort and that drivers might be more interested in, and better suited for, driving rather than handling vehicle logistics.
It was during this phase of reflection that we identified an opportunity in flatbed hauling. This segment promised greater consistency in terms of work, revenue, and driver satisfaction. Flatbed hauling allowed drivers to focus on what they do best – driving – and provided more predictable pay. The ability to recruit drivers more easily in the flatbed segment was a crucial factor, making it easier to scale the business.
The decision to pivot from auto hauling to flatbed was not made lightly. It required a comprehensive analysis of market dynamics, risk factors, and the preferences of the drivers. It also involved a significant change in operations, as we shifted the focus from handling vehicles to transporting a variety of cargo on flatbed trailers.
This pivot marked a strategic move that not only ensured the sustainability and growth of LJ Long Transportation but also aligned the business with the evolving needs of the market and the workforce. It was a decision that demonstrated our ability to adapt to changing circumstances and make strategic shifts to better position the company for long-term success.
The success of this pivot highlights the importance of continuously assessing market conditions, being open to change, and being willing to make strategic shifts when necessary. It also emphasizes the value of aligning our business with the desires and capabilities of your workforce, ultimately leading to a more successful and sustainable operation.
Image Credits
LJ Long Transportation