Awesome write up. Very telling of your previous industry experience. At least it is to someone that did not have that when he started. You've done very well, despite what you may think. Way better than most. To those reading who have plans to get their own authority, I cannot understate how exceptional DY's business is. Only two remarks:
The strategy and deadhead topic is close. What you're not speaking of is opportunity cost. That sets a cost point that differentiates you from a larger carrier. The whole cheap freight topic for me is a simple profit and loss case. If I take the cheap load, I reduce the loss over a deadhead while missing the opportunity for the same or greater revenue with the same or less miles. When the trip is complete, the cheap load gets me back to the good market a day later and less profitably. That case may not be true with a larger carrier with contract commitments to keep and a driver paid by the mile. So they might do better to take the cheapie. I'm not making a statement or anything. It's all about profitability.
On the bad debt, I have been fortunate to have had only one close call in four years. During that time, there have been a half dozen or so brokers we've done business with, nearly all one-time deals, that have gone out of business. Just not holding any of our invoices. I think if you continue with the same due diligence, you will find that even that one you had this year is exceptional.
Double Yellow's Company Driver to Independent Thread
Discussion in 'Ask An Owner Operator' started by double yellow, Nov 5, 2014.
Page 18 of 198
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You're absolutely right about cruise control -- it wastes fuel whenever the truck slows down from a hill or gust of wind. But like Wore out mentioned, by "cruising speed" I meant the target speed I drive when possible (as opposed to average speed which might be skewed downward by stop signs/stop lights). I still do use cruise control when the weather is calm and the roads are flat, but whenever the engine is producing more than about 130 horsepower, I click it off an use my pedal.
Ha, thanks I appreciate the gesture. Unfortunately I don't have a paypal account & besides, I probably wind up benefiting from my own posts more than anyone else: they help me re-evaluate and focus on the areas I need to improve. But I do appreciate the offer
In my case, I have deep roots here (my ancestors moved to California while it was still Mexico -- making me a Mexican American!). Aside from just the fact I have family and property here, my business office is set up at my parents' house which allows them to monitor my mail and deposit checks while I'm still out on the road.
But without my friends, family, & property, I probably would move to another state if I were starting up from scratch. Eastern Tennessee has always caught my eye... I'm still tempted whenever I run into another bureaucratic wall, but whenever I step back and weigh options objectively, it still makes sense for me to call California home.
Yeah, they're not the broker I was using -- Excel Transportation Services, Inc. v. CSX Lines, LLC is the court case that set the precedent of making shippers liable to ensure the carrier ultimately gets paid (even if the shipper winds up paying twice). There are some exceptions, which may apply, so we'll see what actually happens. Right now I've sent the shipper an explanatory letter along with a bill & the documentation. My next step would probably be to take them to small claims court.Last edited: Dec 23, 2014
csmith1281, spectacle13, Grijon and 4 others Thank this.
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Page 18 of 198