Double Yellow's Company Driver to Independent Thread
Discussion in 'Ask An Owner Operator' started by double yellow, Nov 5, 2014.
Page 193 of 198
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stwik, BoostedTeg, double yellow and 5 others Thank this.
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Also keep in mind that he started when rates seemed high and then they fell immediately. No one knows what the future holds so wise men know cash is king. Do not over extend yourself to become an O/O. It's something that is worth doing right, but not something worth doing wrong.
double yellow, whoopNride, blairandgretchen and 4 others Thank this. -
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double yellow Thanks this.
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I also set out as an Owner Operator when diesel was ~$4/gal so I picked a fuel efficient truck & modified it to be even more fuel efficient. Then diesel dropped to $2 and even dipped into the $1s - killing my "edge" on the competition. That wasn't in my plan, the world was supposed to keep using up dinosaur juice, depleting the supply and making prices go up and up and up.
I never considered that as oil prices went up, it suddenly became profitable to extract it from regions where it had not previously been economically feasible. I didn't consider that a whole bunch of people would rush in to do so at once, creating a temporary oversupply that would cause diesel prices to plummet.
That was myopia on my part - had I looked independently at the history of oil prices I would have found that same trend happening over and over every 5-10 years. Similar cycles happen to rates and freight demand. In fact, rates are usually good when oil is high so, in hindsight, designing a business around something that mostly happens near market peaks is pretty dumb.
But things always look much more clear in hindsight. Give your business a nice big margin of safety and you'll weather most of the unknown unknowns...iledbett, Terry270, vikingswen and 9 others Thank this. -
bbechtel16, Tug Toy, double yellow and 1 other person Thank this.
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Tug Toy Thanks this.
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stwik, bbechtel16, Terry270 and 10 others Thank this.
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Well done. Now imagine how them that do it for a living laugh at how hard we work for a buck
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