December 2021 Financials | Episode 94
To start off the episode, Craig and I talk about how knowledge is power. As an example, I talk about a conversation I recently had with someone who had a load dropped on him by a broker, we suspect because the broker found another carrier who would haul it for less. The excuse the broker used was he had to cancel because there was something wrong with the carrier’s authority on the FMCSA website, that was not the case, but the carrier didn’t know how to check himself. If you are an owner operator or fleet owner, you need to know everything about the FMCSA, including SMS (Safety Management System), the FMCSA Portal, etc. Here is where you can look at the public information the FMCSA provides:
- DOT Number Status: Company Snapshot
- Operating Authority (MC Number) Status: L&I (Licensing and Insurance)
What To Expect From Episode 94
December was another great month. We cover the ins and outs of what happened financially to make it great.
- Total miles ran – 42,280 (Lower than the last few months, normal for December)
- Deadhead miles – 2,438 (5.8%)
- Total revenue – $128,720.89 (Record)
- All-in rate-per-mile – $3.04 (Highest we have ever had)
Haulin Assets realized a profit of $39,730.23. The second-best net income we have ever had.
Profit & Loss Sheet
Set aside 10-20 minutes every day where all you do is focus on increasing your knowledge. Put the 10-20 minutes on your schedule, set a reminder on your phone, do something so it doesn’t get missed. This is the sharpen the ax mentality that Stephen Covey talks about. Learn about a topic that will impact you or your business. It might be something like FMCSA Regulations, fuel economy improvements you can make, or accounting principles. There are a million different things.
Where in the Profit and loss sheet is the truck and trailer loan payment?
Listen to episode 98, which comes out tomorrow. I am going to talk a bit about it.