The global freight trucking market is expected to grow from $2.739 trillion in 2024 to $3.755 trillion by 2032, according to market researcher Fortune Business Insights.
Among the very few people who will drive growth in the trucking market is Galina Pliushcheva, an expert in finance and economics who is ready to use her innovative financial strategies to drive growth in the industry. She promises to leverage her academic background and work experience at various organizations, including forex broker Alpari, to transform her trucking business, Original King Delivery Services & Business Ideas LLC (OKD), into a market leader.
At a time when the industry is struggling to recover from the devastating effects of the COVID-19 pandemic, Galina’s approach to establishing a trucking business highlights the importance of financial strategy in navigating market recovery. Her story is full of practical lessons on how financial knowledge can be applied to drive growth in a traditionally operational industry. For those that may have an interest in the relationship between finance and logistics or for entrepreneurs facing similar challenges, her experience provides valuable lessons in resilience and strategic planning.
Galina, it’s great to have you join us today. Your transition from finance to the transportation industry has been an interesting one. So, as the CEO of OKD, can you tell us more about this trucking company?
Thank you for having me. At the moment, I am the owner of Original King Delivery Services & Business Ideas LLC, often referred to as OKD. We are a trucking firm operating in Missouri, USA. Our aim is to build a strong logistics network, ensuring timely and reliable delivery services across the regions we serve. We want to provide top-notch service, maintain a dedicated fleet, and support our drivers with the resources they need to perform efficiently. At OKD, we believe that the key to our success lies in our team and their ability to deliver excellence on every journey.
That sounds quite interesting. So, how has your background in finance influenced your approach to building OKD?
I want to be able to apply so much of my financial background when managing the business. I have spent years analyzing market trends, financial risks, and the impact of economic policies. That experience has given me a strong foundation for making strategic decisions. For example, I previously worked at Alpari, where I was the head of branch network and a member of the board of directors. It was there that I realized the importance of scaling and optimizing operations. I was also able to increase the profit of the Nizhny Novgorod branch of the company by three times and later replicate that success across other branches in Russia and the CIS, reaching 2.5 times growth.
Your expertise in finance is also reflected in your academic achievements. For example, you have successfully completed your PhD dissertation at the Moscow State Institute of International Relations (MGIMO). Could you tell us more about your dissertation and its significance?
Certainly. I worked at a financial company and encountered many private investors daily who wanted to understand the process of currency formation. They tried various forecasts and algorithms. I decided to approach this from a scientific perspective and began writing a dissertation at MGIMO, one of the best universities in the country.
So, my dissertation focused on the “Features of the Formation of Exchange Rates Using the Example of the Currencies of Russia, Belarus, and Kazakhstan.” The work analyzed the factors of formation and modeling of exchange rates; the peculiarity is that both calculable and non-calculable factors are taken into account. Therefore, both the regression model and modeling based on fuzzy logic are used, and “black swan” events are taken into account. A model of a single currency for regional associations is also proposed, including the dynamics of prices in the resource market, foreign exchange markets, the digital currency market, the trend towards digitalization, and environmental friendliness. The conclusions of the scientific work can be used both at the level of state regulators and for international business to assess currency risks.
That sounds good. So, how do you plan to use the model in your business?
I can tell you that the knowledge I got from my dissertation will be of great significance as we try to enter overseas markets. For instance, as we plan to penetrate other parts of the USA, Canada, and Mexico, we shall be dealing with different currencies and constantly changing exchange rates. The knowledge from my research will help us to manage currency risks and increase profit during the globalization process. Besides, the model for the exchange rates will allow us to decide on which currency to store our company’s savings. This is crucial for our long-term financial stability.
It’s clear that your scientific work has had a significant impact on your business strategy. Are there other areas where your expertise is recognized?
Yes, my work has been recognized in many academic and professional forums. I have delivered my research papers at several international conferences, like the EU-EAEU in 2020, for which my speech was chosen as the best. I have also published several articles in reputable journals, such as “Economics and Entrepreneurship” and “Modern Science: Relevant Problems of Theory and Practice.” Some of my findings include an analysis of the problems confronting the theory and practice of currency creation, as well as the rationale for creating a common currency in the Eurasian Economic Union (EAEU).
Nonetheless, what problems have you faced while building OKD, and how have you solved them?
Among the major issues we faced was the timing of our launch. When we started, the market situation was not very positive because the economic recession due to the pandemic had just happened. Consequently, the financial result was not as good as was desired. However, based on the available information, I am optimistic that the market is slowly coming back to life. So, we want to be in a position to capture this active stage of growth. Nonetheless, in addressing these challenges, I will always leverage my experience and education to make informed decisions. I will also make sure that our team is well-prepared and aligned with our goals.
Given the economic challenges post-pandemic, how do you see OKD positioning itself for future growth?
Despite the initial economic downturn, I see our company as being well-positioned for future growth. At the moment, the market is showing signs of recovery, and we are on the verge of the active growth phase. Now, we are focusing on solid strategic planning and making sure that we have the right people on board in order to take advantage of the recovery. With my financial background, I am able to read market trends and make the right decisions that will assist us in getting through this stage of growth while ensuring that we don’t just survive but thrive in this constantly changing market environment.
Lastly, what are your future plans for OKD?
We have a lot of plans for OKD. In the next five years, we want to open our own brokerage company, which will allow us to independently search for cargo on the market, sell orders to other trucking companies, generally reduce costs, and add stability to the business. We also want to establish offices in Chicago and New York, where there will be management staff, accountants, personnel selection and adaptation specialists, and technical specialists. In addition, we want to build stations where truck drivers can inspect and replace truck consumables, stop for the night, and rest.
In total, we plan to grow to 150-200 trucks, hire about 200-250 drivers, and create 70-80 new jobs for other positions.