Brand new O/O needs some advice.

Do your best to find the “successful” owner ops at your carrier to learn from. You may already know which ones they are from speaking to them routinely and watching their actions. Those that are high quality will have no problem helping you with their best practices. There is a lot to learn but it can be an enjoyable and profitable experience when done correctly.

 

thats good life advice that a lotta people miss
If you want to be successful at something: talk to someone that is successful at that thing

 

Sorry I haven't been in the mode to post anyting in this thread but here goes.

Good idea. My advice is this -

Get your back office in order first before you sign or commit to anything.

What I means is get a good accountant - DOES NOT NEED TO BE A 'TRUCKER' ACCOUNTANT - but one who can structure your books to be the most effieicent, to make it really easy at tax time and to advise you on purchases and so on. This is a business, outside of Per Diem, there isn't a thing that is complicated and a good accountant will figure out Per Diem very fast.

The second is get a good lawyer, someone who is well established and connected. This will be difficult but doable. Put them on retainer, ask them legal questions and so on. They will help you through both the start up and through any problems (READ - accident) that arise.

The other thing is make sure you have enough operating capital, right now nothing less than $60k. Bills need to be paid and so on. If you get hurt, put some money aside to cover your personal expenses until you either liquidate or get back to work.

It is a good, not the best but good choice. the dealer coverage is great, the amount of parts changers in the system is huge and any shop can work on them.

I would think about financing but that's up to you.


As for your choosen niche, there is money to be made but be aware (as you already are) that you will need to be flexible and willing to move onto other types of freight.

The best thing to do is look at the faiures. Successes don't always show the pitfalls to avoid or how some crash and burn. The most successfull seem to be the one who listened to the failures.

 

The best thing to do is look at the faiures. Successes don't always show the pitfalls to avoid or how some crash and burn. The successful people will tell you their failures. The most successfull seem to be the one who listened to the failures.[/QUOTE]
While this is very true in my mind it goes without saying that if you follow the methods of those succeeding the actions of those failing will be clear. The successful people will generally tell you about their mistakes which definitely helped them succeed long term. I would much rather spend an hour talking to and about what my successful co-workers are doing than those who are failing. The ones that are failing generally are a chore to talk to.

 

Not in this industry. maybe in finance or in IT but not here. Failing isn't always obvious until it is too late, there is a large learning curve involved and listening to those who are in the crapper about what they did wrong or better yet what their attitude towards the busiess is, sometimes becomes the most valuble lessons to learn.

I disagree. I have been working on fixing failed companies in this industry, and the one thing I do know is those who are successful don't ofter have a moment of retrospect. The mistakes they catch early on and don't repeat are prevented not by identifying and avoiding but just avoiding as habit like there is a muscle memory involved (a lack of a better term).

co-workers? OK ... But anyway, that's easy.

That's the point, you learn by other's mistakes, not your own and there is an oppertunity cost involved where you have to invest the time and sometime money to get a story or two.

 

We will just have to agree that you do things your
way and I do things my way. I doubt either of us is going to be swayed towards the others way of doing things. I am only concerned with my success and while I am not done, I am happy with where I am. You probably are too so we can both assume there is more than one correct way to reach a goal.

 

Maybe one day I will figure it out, until then the struggle is real. Trucking is not the only money I have ever made. Real Estate and the stock market have been good to me. Probably not nearly as good as in the @Ridgeline world, but I am somehow surviving.

 

I had my own truck for 7 years. I made a decent living with it, but realized I would never get rich at it by any means. I never was in a serious financial bind and never fabulously wealthy. I’m glad I did it. Today I’m a company driver and much more content to be where I am than I would have been if I never had done it.