Buying a truck and getting it on the road for a new owner operator is no easy task and for some can be downright daunting, but it doesn’t have to be. The way to go about it is to make a list and start setting things up in a logical order. The way this is done is through the development of a business plan and should be done before you have bought the truck. If you missed that part and are already rolling along in your first year then it is not too late you just may have to back up a few steps to arrange things properly.
If you are already leased on with a carrier then you should go back through your contract and make sure you understand and have met all the obligations you signed up to do. If there is a holdback at the company then how much is it and how much do the take off each statement? I talk with many drivers who have no idea how much they pay for things or how their statements work. Do you have the appropriate insurance for your vehicle and yourself. If there is a breakdown do you have a way of repairing the problem and getting assistance? The next step is to set up your budget so you know how many miles you need to run each month to break even. This an important step that most people miss and It is one of the most important steps for an owner operator. The next step is to set up a plan of action for moving forward, what are your short and long term goals? How will you achieve them and create a successful business?
You are trying to create a snap shot of your business today and create a snap shot for tomorrow so you can create a link to make your business successful. The more effort you put into this part of the process the better off you will be and the more successful you will be tomorrow.
About the Author
Bruce Outridge is a business and leadership consultant for the transportation industry in Ontario Canada. You can read more about him and the services he offers on his website www.outridge.ca