Expanding a business

I would take this one step further. You need to not only be profitable, but you need to know WHY you are profitable.

You need to know your numbers, every category, insurance, maintenance, depreciation, fuel, tolls, permits, registration, communications, compliance, every last stinking number on the outgo side.

Then, you need to know why you were profitable from the INCOME side. You need to know every stinking number there, too. Lanes, $ per mile, $ per day, $ per drop, $ per hour. Average delay for each shipper, average delay or each consignee.

Still not done. Then you need to know YOUR numbers. What are you best at. Do you run long days hard, or are you better at short runs. Multiple stops, multiple picks. Are you the unicorn that wants to do 700 miles a day, or the unicorn that likes seven drops across Louisiana? Each is profitable, IF you're the guy that thrives on doing that kind of driving.

So, know your outgo numbers, know your income numbers, and know your driver performance numbers. To the penny.

 

There you go even better.