We’re still experiencing the roller coaster ride of a tough economy and a volatile freight market. With that being said, we still made money in June, it just wasn’t much. Like my dad always says, “It’s better than a swift kick in the butt.” The biggest difference this month that really affected our financials were much higher than normal maintenance and repair expenses.
The Bible teaches that if you live by God’s Ten Commandments, He will bless you. Similarly, if you follow my Ten Commandments for Owner Operators, you’re likely to find success.
The first year of any business is the hardest. I was able to bring in just over $200,000 in total revenue during my first 12 months as an Owner Operator. Although revenue is important, the number that really matters is the bottom line. We cover that and so much more during this episode of the podcast, where Craig and I review the highs and lows from the startup phase through the first year in business of Haulin Assets.
When I first started working on this series for hiring a truck driver, I was only planning on 3 episodes. As I got further into the process, I realized that the screening process needed its own episode for two reasons. First, it is so important. The screening process is 90% of what sets you up for hiring a good driver vs. being stuck with a bad egg. Second, it has a lot of parts to it. In this episode I cover the 7 steps I use when I hire a driver.
May was much better than April, in fact, we were able to turn a healthy profit. The freight market was better than April, but still unstable. It seems hit and miss. One day an area of the country has decent rates and a few days later the same area crashes and rates go bad. With that being said, rates on a whole are definitely improving.
Hiring a truck driver is probably one of the trickiest things about owning a trucking company. The right decision will be one of the best things you have ever done and the wrong decision could make for one of your biggest nightmares. You want to do everything you can to do it right. I’m give a bunch of pointers throughout this episode to help make the process run as smoothly as possible.
Classifying a truck driver as either an employee or an independent contractor is one of the hottest topics in the trucking industry. If you are considering hiring a driver, this is an important episode. To help us out with this topic, we’ve brought in the big guns, Ryan Nelson, president of the Utah chapter of Employers Council.
This is the first episode of a three-part series on hiring a driver. In the next episode, we will talk about how to classify your driver, as an employee or independent contractor. This is always one of the hottest topics in the trucking industry. The third installment will cover the actual process, the nuts and bolts.
April was a tough month, the first time Haulin Assets lost money in a month. Luckily, the freight market seems to have hit bottom in April and things are picking up. The other good news is that we are still up $9,562.14 for the year.