Things to do as a lease operator before winter.

As a business owner planning ahead and forecasting is almost a given as a "best practice" formula. As a professional driver we are taught to trip plan and make sure we have time to pickup, deliver and or head to next shipper location or head to find a place to park after our driving shift. Planning ahead as a lease operator is very smart and to very successful business owners a logical step in pursuit of your business and personal goals.

Recently I was down for about 5 days. But the difference between a driver who plans and one who doesn't plan ahead was I was not worried about business or personal bills coming up because they were already taken care of. Successful business owners set back funds for "rainy days". We have all heard and read the stories about how new l/p and or o/o drivers see higher weekly paychecks and just go on a spending frenzy not thinking of items such as quarterly taxes and or future repairs. It's a sad thing to see when someone fails at business. It's even sadder to see someone who failed blaming others rightfully or wrongfully for sad failure. Learning from failure is a key component to the road to a successful business.

This leads to the topic at hand and that is we have let's say 4-5 months before freight slows down in its yearly winter cycle. As a lease operator and with truck notes it would do these drivers well to think ahead to this timeframe and to prepare business and personal finances now, so that when tell slow period comes the stress of making payments is not there.

Setting aside 2-4 weeks of truck payments aside from what is taken out for maintenance and tires is a smart business move. Also planning on changing your tires before the winter season so that your tires has enough grip as possible in snow is a great idea. As a business owner, gone or I should say, the days SHOULD be gone where living paycheck to paycheck is your rountine. Business owners should plan in months and even years, not in terms of week to week. In an emergency, thinking in terms of weeks can put you under fast. One bad week and it's in the hole you go trying to claw yourself and business out of it.

As a business owner I aim for 6 months of truck payments in the bank and 6-12 months of personal bills accounted for. It's a big goal but taking one step at a time and reaching this goal little by little is attainable. The main point is.... You cannot fail if you're months ahead of payments. Speaking in terms of this, I've started smart credit building tactics. Personal and business. I've also started lowering personal expenses. I've started paying things off so that the following month I owe less. Get rid of the ankle biting expenses in your finances. Take the smallest out and work your way to the highest expenses. One day you will look up and you will not have that burden you currently carry on the personal side weighing you down. Start to plan now for winter. Don't wait until it gets cold and rainy before you start thinking about which lanes to run, and regretting not preparing sooner for bad weather. If you're dispatched start planning on how you can save weeks worth of truck payments for those slow weeks. There is no excuse for not being prepared for winter. It happens at the same time every year. And we all know it can cause havoc on the interstate.

As a business owner the business comes first. If you want to own your truck it comes first before anything else. That's why having your personal side taken care of is so important. Focus is extremely important in business. Set goals, work to reach those goals and then set more goals that move you and your business along. There is no such thing as a successful business owner who didn't plan things out.

No one can get over on you or your business if you prepared in advance. Set yourself up for success and don't make excuses if you make a misstep. Get up and start on the path again. Successful business owners don't make excuses.

 

I have to ask.... is that by choice or by lack of personal ability? ;]

 

That above is what's wrong with trucking. People stating stuff about things they never took part in OR have any desire to take part in. If you didn't want to read the post then by Jesus dont. No need to attempt to be smart and post something. If it's not for you then don't read it or comment about it. Easy peazy. But no, you have to place your nose into something that has nothing to do with you. Thank God that I don't have to work with people like you in my business I've built. Seriously.

 

It's apparent

 

But just so you know. This is how and why many come and ask over and over about leasing. Because of people like yourself derailing a post trying to help someone not get taken advantage of. What you have done is very selfish and childish. I have very seldom held disdain for someone in my life. But what you have done is unexcuseable. Need to grow up and stop with the elementary games. Too serious out here for that garbage.

 

I'm all for people making smart business and life decisions, but stating a statement over and over and over doesn't make the statement right. There are many people these days succeeding at leasing a truck from a company. Of course we have heard and read the stories of people failing. Some who would have failed regardless and some who if they properly prepared and researched would not have a lasting bad taste in their mouths.

Having 3 or more truck payments is great advice I agree with that whole heartedly. That's basically what's in the post above. Plus having 3 more months taken care of for good measure. People say have this or that before but hardly ever talk about people getting their personal finances in order. Credit corrected and all around becoming a business minded person. Business owners through the years have leased buildings, cars, equipment, land etc, some still do so but they are multi billion dollar companies now and are the top of wall street stocks. Truth is leasing isn't for everyone. If it's not your or their favorite topic stay out of it. Those that are interested plan and research because it's not all roses and sunshine but neither is driving a truck for a company for 30 years of a driver's career.

You can own your own business and pay for equipment, many have done it before and no one says "you aren't a REAL business owner". You don't own your "own business" you're just an employee who.... works for yourself.... ludicrous thinking in the great world of business.

There have been many who have done exactly what you have stated and still have failed. There are those who have leased and were very successful. Thus it's up to the person in the lease to make a good business decision and practice great business tactics.

That is why I said successful business owners don't make excuses. These people never blame others if they fail. Time for people to grow up and take responsibility whether successful or in failure.