The more I research Lease/Purchase the more I realize....

Discussion in 'Lease Purchase Trucking Forum' started by 775mito, Jul 4, 2020.

  1. nofreetime

    nofreetime Road Train Member

    Oct 22, 2013
    P & L (As in profit & loss statements not PnL) experience which I also have is not going to do you a ton of good out here. My advice is to hire an accountant prepare your docs for them properly and let them handle accounting. Guys act like business understanding is highly necessary for success and I didn't find that to be the case at all as the business decisions we're making are so stupid simple that one with zero business experience could easily figure out.

    What you do need to be successful are things far more difficult to obtain and do consistently.

    Capital; if you don't have it you're probably looking into or doing something like a L/P from someone who does and this gives them control over you.

    A willingness and ability to put your business first and yourself second; Meaning what best for the business always comes first and what you want comes second. Thus it may not always be best for the business to take time off or as much time or time off as you'd like. Nor drive the shiniest coolest looking truck as shiny and cool doesn't generate revenue. These are just a few examples but there are hundreds to thousands of small sacrifices from themselves to benefit their business that a successful o/o will make. It's not always glamorous and quite frankly most of the time doing so sucks but when you put the business before yourself and do so consistently over a long period of time say a decade the business will prove for you in spades.
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