Listen to this story of how I turned cheap freight from vinegar into fine wine for one small carrier, using nothing more than industry experience, resourcefulness and dedication to finding a solution.
The snow, which had been no more than just spitting began coming down in furious earnest, quickly coating the roadway in an inch or more of snow. We continued on, as we were now fully committed to the climb and descent.
As we’re crossing a long bridge, a fire truck frame (just the cab with nothing but frame rails and rear axle) does a 360-degree spin about 200 yards ahead of us on the bridge we’re crossing. I know that if it’s that slick I must maintain momentum
With a scarcity of people wanting to drive a semi, with freight availability increasing almost daily, many trucking companies’ thoughts are turning to add more drivers. However, with recruiting, training and being sure new hires are ready to follow the constant barrage of new regulations from the FMCSA, the investment of both time and dollars bringing on new truckers has increased.
When any two units of the team are in conflict, the entire team suffers. If each team member is only interested in his or her own benefit without regard to the effect on the other members, the entire team’s efforts will fail. It’s important for all the units which make up the team to work together.
It doesn’t take a majority to make a rebellion; it takes only a few determined leaders and a sound cause. – H. L. Mencken
I’m not suggesting taking up arms to bring forward changes in the trucking industry. What I am recommending is taking a revolutionary approach to how you conduct your trucking business.
Trucking is by its nature, an unpredictable business. But at the same time, no matter what unexpected event occurs, a load either needs to get there or you need to find another one. This brings us to the # 1 Murphy’s Law of Trucking:
The thought of riding a roller coaster leaves me with memories of the stomach in the throat, white knuckles, sweaty palms, and sheer fear of what’s over the next rise or around the next corner. Kinda sounds like trucking, available freight scraping bottom and freight rates leaving our stomachs in knots—well, like a roller coaster.
It’s not just a question of survival during these times of low freight volumes and freight rates. It’s time to take advantage of the many opportunities coming down the road. The last year was one the hardest on small motor carriers since the Great Recession of 2009 and 2010. But…
Becoming bankable needs to be the goal of every small business owner, and that includes trucking company owners.
There’s a method used in real estate investing that also works well for owner operators and lease operators. When investing in real estate for the purpose of receiving the greatest return on the dollar invested – for renting it out, in other words (creating a sustainable, consistent income), purchase the house with the lowest price in a neighborhood. In so doing, you have far greater profitability by being able to charge a higher rent with lower costs. Yet the revenue (rent) necessary to support the expenses like loan payments, taxes and insurance can be lower than other houses in the area.