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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
Road Today Media Group along with Honorable Jason Kenny presented me with the Road Today Ambassador of the Year Award for my extraordinary service and dedication to the trucking industry. It was an honour to be presented with the award by Road Today Media Group.

Ah the budget process, nobody likes it, we all shy away from it, yet it returns to haunt us every time. People shy away from it because it shows them where they really are with their business and their life. It can be a very daunting piece of the puzzle but is one of the most important items you can complete when becoming an owner operator. If you try to get away without completing the budget process you will find that you will be at a loss as to where your money has gone. I believe that is why many people don’t do the budget because they feel they will have to stick with it or they will be a failure. The fact is that you risk failure without it. By missing this important item you will have nothing to compare your profit and loss statement to know how you are doing in your business. I recently met with some owner operators that were just starting out. They felt the best way to approach compensation with their truck was to take half the money for themselves and leave the rest for their truck. When we completed the budget they could see that they were quickly taking themselves deep into the barrel of despair.
If you are an owner operator it is your duty to run your truck as a business owner, it is your job to make sure your company is running successfully. A budget will be one of the first things you do to make sure you can afford to run your business. You should then match that budget with your profit and loss statement on a quarterly basis and again at the end of the year. Review items that seem to be out of control and look for other options that may help bring your budget back in line. Remember that this process is ongoing and not something that should be done just once and then stopped. The true successful business owner is watching their business for opportunities and ways to improve their success rate.
About the Author
Bruce Outridge is a business and leadership consultant for the transportation industry. He helps people set up their business properly and guides them on the road to success. More information can be found on his website at www.outridge.ca
Things to day are quite different than they were years ago in the transportation industry. For instance more items are going electronic, you now have to be a smart cookie to handle a big rig and keep up on all the regulations for being in compliance, but some people for whatever reason just don’t seem to get it when they start on with a new company. Nowadays they have a way to test for much of the practical knowledge required for the position of commercial driver, but some companies are still taking your word that you know what you are doing.
You know what I am talking about, the guy who comes in to the job claiming he has done it all under the sun from flatbed to reefer, and steel, but is only 22 years old. Of the guy who feels he is too cool to listen to the trainer and doesn’t listen to the instructions in case something new is required when loading. There are many of these types out there and I have seen many come and go in my time at the wheel. If you watch them closely you will find that they don’t really know what they are doing and usually will screw up with a load in a very short time because they didn’t listen when being told how to do the job. That is why so many companies have started training programs so people won’t get into trouble in there first few weeks of employment. Those are the people that give the industry a bad name and I am not saying that things can’t happen but as a professional driver it is your job to make sure that you have done everything to the best of your abilities in securing your load or operating in a safe manner.
So what is the best course of action to making sure you are working at your best. The first part is to know what you should be doing, know the regulations, and have the proper equipment to get the job done. Be organized, this is a big one with me, you have to keep an eye on your equipment and know what is becoming too worn to do the job and what is ready for replacing. Being organized not only helps you track your equipment but also makes you look much more professional in front of the shippers and receivers. Have you ever seen a driver that looked like he had to unload his truck before beginning to load because he kept it such a mess, I have? If you are required to use a certain amount of straps for your load, but feel it would be safer with an extra one go ahead and use it. I have never seen anyone given a ticket for going beyond the regulations to be safe. The same thing goes for checking your load, if getting that load down the road safely requires that you stop a little bit more to make sure it is safe then do that. It doesn’t matter if you are only required to stop once. Leadership means stepping up to the plate and being a professional can mean the difference between saving lives and staying employed.
About the Author
Bruce Outridge is a business and leadership consultant for the transportation industry. Information on his courses can be found on his website and blog at www.outridge.ca