Another tough month. June, July and August are some of the harder months of the year. The months with losses are really getting old. It can be discouraging. The economy and the freight market have always had peaks and valleys, good times and bad times. That is predictable, we know we are currently in a valley, but we also know it will get better and we will see good times again. Meramec Solutions is the sponsor for this episode. If you have any need to hire drivers, they are a great option that we have used several times at Haulin Assets. We have had great success using them. You can learn more by visiting their website, click here. It never hurts to give them a call to see if they are a good match for your needs.What To Expect From Episode 134How do you get through the hard times? If you have listened to this podcast very long, you know I am in the Utah Army National Guard. I had drill over the weekend and as part of it, did a 6 mile ruck march carrying 35 lbs of gear in the mountains of Utah. That weight isn’t really that bad, I have done much worse over much longer distances with a lot more weight, but it reminded me of some of the harder rucks I have done. How do you get through those when your body is screaming at you and you just want to be done, you put one foot in front of the other, and that’s what we are doing now. It’s not fun, but it will end at some point and life will get better. Perseverance brings rewards. Total miles ran– 105,356 (More trucks on the road, but less miles. Several drivers to more time off than normal, it’s July) Deadhead miles– 7,949 (7.5%, on the high side, have to drive further to find loads) Total revenue- $196,152.07 All-in rate-per-mile- $1.86 (really bad)  Haulin Assets realized a loss of $11,890.75.    Items we cover about the P&amp;L: Maintenance and many more tires IFTA and use taxes Repairs  Let’s pray this doesn’t last much longer. On a positive note, we did just finish up a load for a new shipper and it went well.

Another tough month. June, July and August are some of the harder months of the year. The months with losses are really getting old. It can be discouraging. The economy and the freight market have always had peaks and valleys, good times and bad times. That is predictable, we know we are currently in a valley, but we also know it will get better and we will see good times again. <a href="https://meramecsolutions.com/hirenow/" rel="nofollow" target="_blank">Meramec Solutions</a> is the sponsor for this episode. If you have any need to hire drivers, they are a great option that we have used several times at Haulin Assets. We have had great success using them. You can learn more by visiting their <a href="https://meramecsolutions.com/hirenow/" rel="nofollow" target="_blank">website, click here</a>. It never hurts to give them a call to see if they are a good match for your needs.What To Expect From Episode 134 How do you get through the hard times? If you have listened to this podcast very long, you know I am in the Utah Army National Guard. I had drill over the weekend and as part of it, did a 6 mile ruck march carrying 35 lbs of gear in the mountains of Utah. That weight isn’t really that bad, I have done much worse over much longer distances with a lot more weight, but it reminded me of some of the harder rucks I have done. How do you get through those when your body is screaming at you and you just want to be done, you put one foot in front of the other, and that’s what we are doing now. It’s not fun, but it will end at some point and life will get better. Perseverance brings rewards. <ul><li>Total miles ran– 105,356 (More trucks on the road, but less miles. Several drivers to more time off than normal, it’s July)</li> <li>Deadhead miles– 7,949 (7.5%, on the high side, have to drive further to find loads)</li> <li>Total revenue- $196,152.07</li> <li>All-in rate-per-mile- $1.86 (really bad)</li> </ul> Haulin Assets realized a loss of $11,890.75.    Items we cover about the P&amp;L: <ul><li>Maintenance and many more tires</li> <li>IFTA and use taxes</li> <li>Repairs</li> </ul> Let’s pray this doesn’t last much longer. On a positive note, we did just finish up a load for a new shipper and it went well.

#134. July 2023 Financials

Check out today's sponsor, Meramec Solutions: https://meramecsolutions.com/hirenow   It’s no secret that trucking is really tough right now. That fact has caused me to do a lot of thinking lately about what can I do to help get Haulin Assets in a healthier place. One of the things I decided to do was look at the loads we have been hauling to see if I could find any positive or negative trends that we could improve on. In this episode, Craig and I are going to take a look at what I have found. What To Expect From Episode 133 Anytime you hear the word analysis you have to get excited because you know there is going to be a spreadsheet involved. First thing I did was went into our accounting system and pulled a report of all the loads we did in April, May and June of this year and exported the data to a spreadsheet. The spreadsheet included: Broker's name Date the load was delivered/invoiced Invoice amount Then I added the following items for each load:Loaded miles Deadhead miles Total miles Direction of travel (Outbound, east to west, or other) Direct Shipper or Broker    Once I did that, I singled out all the shippers and the brokers we hauled at least 4 loads for. They are who I wanted to focus on. Then I did some spreadsheet wizardry with some formulas to calculate the following for each company I had singled out to determine: Percentage of loads hauled Percentage of revenue Percentage of miles Loaded rate per mile Total rate per mile  I lumped all the remaining loads into one category and calculated the same items for that category. I'm going to call that category "Everything Else" and use it as our average. You can download the spreadsheet I used here. I changed all the brokers and shippers names to something generic. Taking a look at our loads and our relationships at such a detailed level was very insightful. There were a lot of lessons learned that are going to result in some changes we are making. Craig and I talk a lot about what those lessons and some of the changes we are going to make during the episode, so be sure to listen. I think an exercise like this can benefit any business. Some self-reflection is always a good thing.

Check out today's sponsor, Meramec Solutions: <a href="https://meramecsolutions.com/hirenow" rel="nofollow" target="_blank">https://meramecsolutions.com/hirenow</a> It’s no secret that trucking is really tough right now. That fact has caused me to do a lot of thinking lately about what can I do to help get Haulin Assets in a healthier place. One of the things I decided to do was look at the loads we have been hauling to see if I could find any positive or negative trends that we could improve on. In this episode, Craig and I are going to take a look at what I have found. What To Expect From Episode 133 Anytime you hear the word analysis you have to get excited because you know there is going to be a spreadsheet involved. First thing I did was went into our accounting system and pulled a report of all the loads we did in April, May and June of this year and exported the data to a spreadsheet. The spreadsheet included: <ul><li>Broker's name</li> <li>Date the load was delivered/invoiced</li> <li>Invoice amount</li> <li>Then I added the following items for each load:<ul><li>Loaded miles</li> <li>Deadhead miles</li> <li>Total miles</li> <li>Direction of travel (Outbound, east to west, or other)</li> <li>Direct Shipper or Broker</li> </ul> </li> </ul> Once I did that, I singled out all the shippers and the brokers we hauled at least 4 loads for. They are who I wanted to focus on. Then I did some spreadsheet wizardry with some formulas to calculate the following for each company I had singled out to determine: <ul><li>Percentage of loads hauled</li> <li>Percentage of revenue</li> <li>Percentage of miles</li> <li>Loaded rate per mile</li> <li>Total rate per mile</li> </ul> I lumped all the remaining loads into one category and calculated the same items for that category. I'm going to call that category "Everything Else" and use it as our average. You can download the spreadsheet I used here. I changed all the brokers and shippers names to something generic. Taking a look at our loads and our relationships at such a detailed level was very insightful. There were a lot of lessons learned that are going to result in some changes we are making. Craig and I talk a lot about what those lessons and some of the changes we are going to make during the episode, so be sure to listen. I think an exercise like this can benefit any business. Some self-reflection is always a good thing.

#133. Load Analysis

Check out today's sponsor, Meramec Solutions: https://meramecsolutions.com/ The roller coaster continues. We were pretty high last month, that means we're pretty low this month. Before we dive into the numbers Craig and I talk a little about some analysis I have been doing on the brokers and shippers we have been hauling the most for. I think it is going to help us focus in on relationships we want to develop and others we might want to let go. I think you'll see an episode on this subject in the next couple of months. We got Truck 12 on the road in June, that's exciting. What To Expect From Episode 132 I’m glad I didn’t get too comfortable making a profit. We definitely swung the other way this month.  Total miles ran– 109,092 (Record, 10.25 trucks, 10,643 miles per truck. Not bad.) Deadhead miles– 6,837 (6.3%) Total revenue- $200,773.11 All-in rate-per-mile- $1.90 (I removed Truck 12’s numbers from this, because the mileage was out of proportion with the revenue since it started at the end of the month)  Haulin Assets realized a loss of $23,461.08. There are several things that made the loss as bad as it was. Rates still suck, that is probably the biggest issue. Close behind is that we added Truck 12 in June. Here are some of the P&amp;L items we discuss during the show: Why payroll expense was so high Fuel was $6k more than May and was 33.4% of revenue Maintenance was high Tow bill for truck 08 About $2k in expenses getting 12 on the road

Check out today's sponsor, Meramec Solutions: <a href="https://meramecsolutions.com/" rel="nofollow" target="_blank">https://meramecsolutions.com/</a> The roller coaster continues. We were pretty high last month, that means we're pretty low this month. Before we dive into the numbers Craig and I talk a little about some analysis I have been doing on the brokers and shippers we have been hauling the most for. I think it is going to help us focus in on relationships we want to develop and others we might want to let go. I think you'll see an episode on this subject in the next couple of months. We got Truck 12 on the road in June, that's exciting. What To Expect From Episode 132 I’m glad I didn’t get too comfortable making a profit. We definitely swung the other way this month.  <ul><li>Total miles ran– 109,092 (Record, 10.25 trucks, 10,643 miles per truck. Not bad.)</li> <li>Deadhead miles– 6,837 (6.3%)</li> <li>Total revenue- $200,773.11</li> <li>All-in rate-per-mile- $1.90 (I removed Truck 12’s numbers from this, because the mileage was out of proportion with the revenue since it started at the end of the month)</li> </ul> Haulin Assets realized a loss of $23,461.08. There are several things that made the loss as bad as it was. Rates still suck, that is probably the biggest issue. Close behind is that we added Truck 12 in June. Here are some of the P&amp;L items we discuss during the show: <ul><li>Why payroll expense was so high</li> <li>Fuel was $6k more than May and was 33.4% of revenue</li> <li>Maintenance was high</li> <li>Tow bill for truck 08</li> <li>About $2k in expenses getting 12 on the road</li></ul>

#132. June 2023 Financials

In business you have to expect the unexpected and sometimes you get pleasantly surprised. After months of disappointment, a good surprise was a breath of fresh air and put a smile on my face. By no means are we out of the words yet, but I am starting to get more and more confident we have hit bottom and may even be on our way back up. What To Expect From Episode 131 For the first time in a while I am excited to show the numbers to everyone. So, without further delay: Total miles ran– 102,460 Deadhead miles– 8,361 (8.1%, higher than it has been) Total revenue- $227,809.76 All-in rate-per-mile- $2.23  (I don’t think June is going to be as good, but it should be better than April was)  Haulin Assets realized a profit of $46,444.56. The best profit number we have seen since early 2022. Again, I think there were a lot of aligning of the stars that made May look better than it realy was, but I’ll take it. Hopefully this is the beginning of the upward climb, it’s going to be a slog, but as long as we are moving in the right direction, I’m okay with it taking a bit to get to where we want things to be. Here are some of the things we discuss in more detail as we breakdown the P&amp;L Statement: A negative number in damages, how does that happen? Fuel was 27.2% of revenue, the best we have seen since the beginning of 2022 and in the normal range. Fuel prices seem to be stabilizing a bit. Hiring cost of $1,000 If you remember last month, WC was high because of a Down payment for a new policy, we ended not having a payment this month, for some reason and we also received a refund from our old policy. Everything else was pretty vanilla

In business you have to expect the unexpected and sometimes you get pleasantly surprised. After months of disappointment, a good surprise was a breath of fresh air and put a smile on my face. By no means are we out of the words yet, but I am starting to get more and more confident we have hit bottom and may even be on our way back up. What To Expect From Episode 131 For the first time in a while I am excited to show the numbers to everyone. So, without further delay: <ul><li>Total miles ran– 102,460</li> <li>Deadhead miles– 8,361 (8.1%, higher than it has been)</li> <li>Total revenue- $227,809.76</li> <li>All-in rate-per-mile- $2.23  (I don’t think June is going to be as good, but it should be better than April was)</li> </ul> Haulin Assets realized a profit of $46,444.56. The best profit number we have seen since early 2022. Again, I think there were a lot of aligning of the stars that made May look better than it realy was, but I’ll take it. Hopefully this is the beginning of the upward climb, it’s going to be a slog, but as long as we are moving in the right direction, I’m okay with it taking a bit to get to where we want things to be. Here are some of the things we discuss in more detail as we breakdown the P&amp;L Statement: <ul><li>A negative number in damages, how does that happen?</li> <li>Fuel was 27.2% of revenue, the best we have seen since the beginning of 2022 and in the normal range. Fuel prices seem to be stabilizing a bit.</li> <li>Hiring cost of $1,000</li> <li>If you remember last month, WC was high because of a Down payment for a new policy, we ended not having a payment this month, for some reason and we also received a refund from our old policy.</li> <li>Everything else was pretty vanilla</li></ul>

#131. May 2023 Financials

FuelStream can help you save money on fuel! One thing I have always been pretty sensitive about on this podcast is making the podcast feel like it is a promotion for some of my other businesses because that is not the point of the podcast. I feel like we have done a pretty good job of that, up until now. This episode is going to be a bit of a shameless plug for a business under the Motor Carrier HQ family that we have not talked about. And you know what, I feel really good about doing it because I think this is a service that can be super beneficial for just about anyone out there.What To Expect From Episode 130The FuelStream system has been in the development for over 2 years and has come about because of my time on the road and the challenges of keeping my fuel costs as low as possible. When I was driving I found that it took too much time and was way harder than it needed to be to save money on fuel. During this episode we bring on two guests, Raff and Christian from FuelStream to discuss how the FuelStream system, an app and card can help you save money on your fuel expense. Here are some of the things we talk about: Speed and acceleration Idling Negotiating fuel pricingThe monthly and per gallon savings will blow your socks off   Easy and effective fuel planning using the FuelStream AppThe card teams up with the app to make it easy to find the best fuel prices you have probably ever seen    Don't just take our word for it, we also bring on some clients and listeners who share some of their experiences using the FuelStream system. Special shout out to Jason and Kim, Doug, Corey and Kent for sharing their experiences with us. And a big thank you to all the FuelStream clients who have been with us the last couple of years as we have built FuelStream into what it is today. Sometimes it isn't easy being the guinea pig but you all have helped us build something that we hope will help many more people and we can't thank you enough. Raff mentioned a special offer to the Haulin Assets family where you will get a $50 rebate after you use the card for the first time. More details are available by clicking here and filling out the contact form and entering promo code: PODFREE50. You can also call (385) 264-7610 to learn more.

<a href="https://www.fuelstreamservices.com/" rel="nofollow" target="_blank">FuelStream</a> can help you save money on fuel! One thing I have always been pretty sensitive about on this podcast is making the podcast feel like it is a promotion for some of my other businesses because that is not the point of the podcast. I feel like we have done a pretty good job of that, up until now. This episode is going to be a bit of a shameless plug for a business under the Motor Carrier HQ family that we have not talked about. And you know what, I feel really good about doing it because I think this is a service that can be super beneficial for just about anyone out there.What To Expect From Episode 130 The FuelStream system has been in the development for over 2 years and has come about because of my time on the road and the challenges of keeping my fuel costs as low as possible. When I was driving I found that it took too much time and was way harder than it needed to be to save money on fuel. During this episode we bring on two guests, Raff and Christian from FuelStream to discuss how the FuelStream system, an app and card can help you save money on your fuel expense. Here are some of the things we talk about: <ul><li>Speed and acceleration</li> <li>Idling</li> <li>Negotiating fuel pricing<ul><li>The monthly and per gallon savings will blow your socks off</li> </ul> </li> <li>Easy and effective fuel planning using the FuelStream App<ul><li>The card teams up with the app to make it easy to find the best fuel prices you have probably ever seen</li> </ul> </li> </ul> Don't just take our word for it, we also bring on some clients and listeners who share some of their experiences using the FuelStream system. Special shout out to Jason and Kim, Doug, Corey and Kent for sharing their experiences with us. And a big thank you to all the FuelStream clients who have been with us the last couple of years as we have built FuelStream into what it is today. Sometimes it isn't easy being the guinea pig but you all have helped us build something that we hope will help many more people and we can't thank you enough. Raff mentioned a special offer to the Haulin Assets family where you will get a $50 rebate after you use the card for the first time. More details are available by <a href="https://www.fuelstreamservices.com/lead-registration/haulin-assets-podcast/" rel="nofollow" target="_blank">clicking here</a> and filling out the contact form and entering promo code: PODFREE50. You can also call (385) 264-7610 to learn more.

#130. FuelStream and Fuel Savings

Craig and I start off this financials episode by talking about one of the things that has the biggest impact on just about any business's financials, sales. We have been doing some work to get more loads directly from shippers. Building new relationships with shippers is all about sales. We talk about the sales funnel and how sales is a numbers game. Every healthy company does some kind of selling and we hope you learn something new from this discussion. What To Expect From Episode 129 I'm feeling like a broken record. The freight market continues to be tough and our numbers are not fun to look at, but sticking your head in the sand like an ostrich is even worse. Before we jump into the numbers Craig and I discuss a couple of the things that help get through the challenging times. It's a good discussion and worth listening to, especially if you are like me and could use something to help you refocus. Total miles ran – 97,331 Deadhead miles – 5,239 (5.4%, not bad) Total revenue - $177,508.38 All-in rate-per-mile - $1.82 (The worst we have seen in years, probably since I was driving)  Haulin Assets realized a loss of $8,221.70. No sugar coating this month. May is going to be more of the same, but things did get a little better towards the end of the month. Not sure yet if that was temporary because of Memorial Day or if it will turn into a more permanent improvement. Impact Tip Build the leads in your funnel. Find at least 10 shippers you call to get your funnel started. Once you have gone through them, reevaluate and improve your process and do it again.

Craig and I start off this financials episode by talking about one of the things that has the biggest impact on just about any business's financials, sales. We have been doing some work to get more loads directly from shippers. Building new relationships with shippers is all about sales. We talk about the sales funnel and how sales is a numbers game. Every healthy company does some kind of selling and we hope you learn something new from this discussion. What To Expect From Episode 129 I'm feeling like a broken record. The freight market continues to be tough and our numbers are not fun to look at, but sticking your head in the sand like an ostrich is even worse. Before we jump into the numbers Craig and I discuss a couple of the things that help get through the challenging times. It's a good discussion and worth listening to, especially if you are like me and could use something to help you refocus. <ul><li>Total miles ran – 97,331</li> <li>Deadhead miles – 5,239 (5.4%, not bad)</li> <li>Total revenue - $177,508.38</li> <li>All-in rate-per-mile - $1.82 (The worst we have seen in years, probably since I was driving)</li> </ul> Haulin Assets realized a loss of $8,221.70. No sugar coating this month. May is going to be more of the same, but things did get a little better towards the end of the month. Not sure yet if that was temporary because of Memorial Day or if it will turn into a more permanent improvement. Impact Tip Build the leads in your funnel. Find at least 10 shippers you call to get your funnel started. Once you have gone through them, reevaluate and improve your process and do it again.

#129. April 2023 Financials

Before we dive into the past, present, and future of the freight market, we talk about a big change we made . We hired an operations manager. It is a huge step for a company like ours, especially as small as we are and considering the freight market we are in. Craig and I discuss why we thought this was a smart decision, even though on the surface, it may seem like a dumb one. What To Expect From Episode 128 The freight market has been really tough for a year. When is that going to change? In this episode, Craig and I discuss some of the factors that drive the freight market, what usually makes it change, and when we think that it will start to turn. We finish off the episode by talking about the two key things any trucking company needs to focus on to get through times like this. Full show notes (with charts!) at https://haulinassetsllc.com/

Before we dive into the past, present, and future of the freight market, we talk about a big change we made . We hired an operations manager. It is a huge step for a company like ours, especially as small as we are and considering the freight market we are in. Craig and I discuss why we thought this was a smart decision, even though on the surface, it may seem like a dumb one. What To Expect From Episode 128 The freight market has been really tough for a year. When is that going to change? In this episode, Craig and I discuss some of the factors that drive the freight market, what usually makes it change, and when we think that it will start to turn. We finish off the episode by talking about the two key things any trucking company needs to focus on to get through times like this. Full show notes (with charts!) at <a href="https://haulinassetsllc.com/" rel="nofollow" target="_blank">https://haulinassetsllc.com/</a>

#128. The Freight Market: Past, Present, Future

We had one truck sitting for the entire month of March, that definitely had an impact on things. The infamous egg load occurred around the end of the month. It will have more of an impact on April's numbers than it did in March. Needless to say, March was an eventful month. We talk all about it during this episode. Make sure to give it a listen. What To Expect From Episode 127 The tough months keep racking up. With that being said, it could have been worse, we were positive and at least moving in the right direction. The weather was a bit better in March and so far April has been much better. I'm done with winter. Here are the numbers. Total miles ran – 99,992 Deadhead miles – 6,736 (6.7%, creeping up, indicator of a tough freight market) Total revenue - $201,659.00 All-in rate-per-mile - $2.02 (The worst we have seen in years, since the start of COVID)  Haulin Assets realized a profit of $9,848.55. I am actually surprised we made a profit based off the average rate per mile. Our direct shipper relationships are making a difference. An owner operator could probably survive in a market like this working only off the spot market, but anyone with employee drivers I don’t think would be able to. We're keeping our hook in the water so we'll be able to take advantage of a stronger market when the fish are ready to bite.   Website: http://bit.ly/haulinassets Facebook: https://www.facebook.com/haulinassetspodcast/ iTunes: http://bit.ly/ha-itunes Google Podcasts: http://bit.ly/ha-google-podcasts Stitcher: http://bit.ly/ha-stitcher   Motor Carrier HQ: http://bit.ly/motor-carrier 

We had one truck sitting for the entire month of March, that definitely had an impact on things. The infamous egg load occurred around the end of the month. It will have more of an impact on April's numbers than it did in March. Needless to say, March was an eventful month. We talk all about it during this episode. Make sure to give it a listen. What To Expect From Episode 127 The tough months keep racking up. With that being said, it could have been worse, we were positive and at least moving in the right direction. The weather was a bit better in March and so far April has been much better. I'm done with winter. Here are the numbers. <ul><li>Total miles ran – 99,992</li> <li>Deadhead miles – 6,736 (6.7%, creeping up, indicator of a tough freight market)</li> <li>Total revenue - $201,659.00</li> <li>All-in rate-per-mile - $2.02 (The worst we have seen in years, since the start of COVID)</li> </ul> Haulin Assets realized a profit of $9,848.55. I am actually surprised we made a profit based off the average rate per mile. Our direct shipper relationships are making a difference. An owner operator could probably survive in a market like this working only off the spot market, but anyone with employee drivers I don’t think would be able to. We're keeping our hook in the water so we'll be able to take advantage of a stronger market when the fish are ready to bite. Website: <a href="http://bit.ly/haulinassets" rel="nofollow" target="_blank">http://bit.ly/haulinassets</a> Facebook: <a href="https://www.facebook.com/haulinassetspodcast/" rel="nofollow" target="_blank">https://www.facebook.com/haulinassetspodcast/</a> iTunes: <a href="http://bit.ly/ha-itunes" rel="nofollow" target="_blank">http://bit.ly/ha-itunes</a> Google Podcasts: <a href="http://bit.ly/ha-google-podcasts" rel="nofollow" target="_blank">http://bit.ly/ha-google-podcasts</a> Stitcher: <a href="http://bit.ly/ha-stitcher" rel="nofollow" target="_blank">http://bit.ly/ha-stitcher</a> Motor Carrier HQ: <a href="http://bit.ly/motor-carrier" rel="nofollow" target="_blank">http://bit.ly/motor-carrier</a>

#127. March 2023 Financials

If you are trying to grow a fleet of trucks, I can just about guarantee your biggest challenge is hiring good drivers. With a nationwide shortage of about 80,000 drivers and a driver turnover rate close to 100%, hiring and keeping good truck drivers is extremely difficult. How does a growing carrier not have their lunch eaten by the big guys when it comes to recruiting? That's what we'll cover in this episode.... After we talk about a recent load of eggs we hauled that had some challenges and ended up with a big mess to clean up.What To Expect From Episode 126Finding the type of drivers we look for at Haulin Assets has always been a challenge. That challenge got a little easier when we started working with Jake, our guest on this episode, and he helped us start recruiting on Facebook. Here are some reasons to use Facebook as a recruiting tool: 96% of truck drivers have a Facebook account On average, Facebook users spend 33 minutes a day on the platform It's the #1 platform for user engagement 73% of seekers found their last job through social media  Here are the general topics we cover: What is currently generating interest in your positions and how do you leverage that? What needs to be in place before launching ads, i.e. Facebook Business Manager, Facebook Ads Manager, etc? Who is your target audience? What content do you need to create and the basics of how to do it. How many applicants do you need? What is your plan after launch? Best Practices Make ads mobile friendly Use images and video Have patience Driver testimonials are gold Use web automations to increase the speed to contact Facebook is a piece of the pie  Common Mistakes Failure to declare your ad as a “special ad category” Poor image sizing Using stock images Not running ads through the Ads Manager Not staying up to date on policy changes implemented by Facebook  Check out Meramec Solutions here

If you are trying to grow a fleet of trucks, I can just about guarantee your biggest challenge is hiring good drivers. With a nationwide shortage of about 80,000 drivers and a driver turnover rate close to 100%, hiring and keeping good truck drivers is extremely difficult. How does a growing carrier not have their lunch eaten by the big guys when it comes to recruiting? That's what we'll cover in this episode.... After we talk about a recent load of eggs we hauled that had some challenges and ended up with a big mess to clean up.What To Expect From Episode 126 Finding the type of drivers we look for at Haulin Assets has always been a challenge. That challenge got a little easier when we started working with Jake, our guest on this episode, and he helped us start recruiting on <a href="https://www.facebook.com/" rel="nofollow" target="_blank">Facebook</a>. Here are some reasons to use Facebook as a recruiting tool: <ul><li>96% of truck drivers have a Facebook account</li> <li>On average, Facebook users spend 33 minutes a day on the platform</li> <li>It's the #1 platform for user engagement</li> <li>73% of seekers found their last job through social media</li> </ul> Here are the general topics we cover: <ol><li>What is currently generating interest in your positions and how do you leverage that?</li> <li>What needs to be in place before launching ads, i.e. <a href="https://business.facebook.com/" rel="nofollow" target="_blank">Facebook Business Manager</a>, <a href="https://business.facebook.com/business/tools/ads-manager" rel="nofollow" target="_blank">Facebook Ads Manager</a>, etc?</li> <li>Who is your target audience?</li> <li>What content do you need to create and the basics of how to do it.</li> <li>How many applicants do you need?</li> <li>What is your plan after launch?</li> </ol>Best Practices <ul><li>Make ads mobile friendly</li> <li>Use images and video</li> <li>Have patience</li> <li>Driver testimonials are gold</li> <li>Use web automations to increase the speed to contact</li> <li>Facebook is a piece of the pie</li> </ul> Common Mistakes <ul><li>Failure to declare your ad as a “special ad category”</li> <li>Poor image sizing</li> <li>Using stock images</li> <li>Not running ads through the Ads Manager</li> <li>Not staying up to date on policy changes implemented by Facebook</li> </ul> Check out Meramec Solutions <a href="https://meramecsolutions.com/" rel="nofollow" target="_blank">here</a>

#126. Hiring Truck Drivers Using Facebook

Being financially smart is less about intelligence and more about having a plan and being disciplined. I think being a rocket scientist verse running a marathon is a good comparison. Having a high financial IQ is more akin to preparing for a marathon than being a super intelligent person. Not everyone is going to have the intelligence necessary to be a rocket scientist, but I think just about anyone can get to the point where they can finish a marathon. It might take years to get there, but if you have the desire and discipline, almost anyone can run a marathon. Anyone with the desire and discipline can be financially smart and gain financial freedom can do it, but in almost every case it will take a good portion of your lifetime to get there. In this episode Craig and I are going to cover steps anyone can take to be financially smart and eventually gain financial freedom.What To Expect From Episode 125One of the first books I ever read that had a big impact on my financial IQ is an older book called, "The Richest Man in Babylon" by George  S. Clason. It's a great book, that teaches simple financial principles that are easy to understand and he does it in an entertaining way. You can learn more about it by clicking here. Most of what we are going to talk about is not trucking specific, but we will try to relate some of it to owning a trucking company. Here are some of the principles we'll cover during this episode: Believe YOU control your own destiny (This is one of my own principles and I think it is the most important, listen to learn why) Increase your income Manage your expenses Reinvest your earnings Is your home an investment? (My answer to this question might surprise you.)

Being financially smart is less about intelligence and more about having a plan and being disciplined. I think being a rocket scientist verse running a marathon is a good comparison. Having a high financial IQ is more akin to preparing for a marathon than being a super intelligent person. Not everyone is going to have the intelligence necessary to be a rocket scientist, but I think just about anyone can get to the point where they can finish a marathon. It might take years to get there, but if you have the desire and discipline, almost anyone can run a marathon. Anyone with the desire and discipline can be financially smart and gain financial freedom can do it, but in almost every case it will take a good portion of your lifetime to get there. In this episode Craig and I are going to cover steps anyone can take to be financially smart and eventually gain financial freedom.What To Expect From Episode 125 One of the first books I ever read that had a big impact on my financial IQ is an older book called, "The Richest Man in Babylon" by George  S. Clason. It's a great book, that teaches simple financial principles that are easy to understand and he does it in an entertaining way. You can learn more about it by <a href="https://en.wikipedia.org/wiki/The_Richest_Man_in_Babylon" rel="nofollow" target="_blank">clicking here</a>. Most of what we are going to talk about is not trucking specific, but we will try to relate some of it to owning a trucking company. Here are some of the principles we'll cover during this episode: <ol><li>Believe YOU control your own destiny (This is one of my own principles and I think it is the most important, listen to learn why)</li> <li>Increase your income</li> <li>Manage your expenses</li> <li>Reinvest your earnings</li> <li>Is your home an investment? (My answer to this question might surprise you.)</li></ol>

#125. Increase Your Financial IQ

Chris is going from behind the desk to behind the wheel and starting his own trucking company.

This show is very well done, and steps through from the very first of going about starting a trucking business and what steps you need to take.  Chris and Craig step through the dos and don&#39;ts of the process.  I wish they were daily.  If you are wondering how to go about starting your owner-operator business and what is involved, this is a great resource.  Bill Letourneau

Great Show for Trucking Start Up

I learned so much listening about how much it takes to be a owner operator. Thanks for sharing.

Great information

Haulin Assets

Big step #2 of starting a trucking company, after setting up your business, is applying for your DOT Number and MC Number, aka Operating Authority. You can't do much in trucking without one or both of these numbers. How do you know which one you need or if you need them at all? My buddy Tyler from Motorcarrier HQ and I cover all the basics in this episode. Here are some of subjects we discuss in detail: DOT Number MC Number Operating Authority BOC-3 Insurance (We just kind of scratch the surface. This will be its own future episode) Vehicle weights UCR FMCSA Compliance Drug and Alcohol New Entrant Audit   Additional Permits New York New Mexico Kentucky Oregon    Most for hire trucking companies will need to apply for an MC Number in order to get their operating authority. For your planning purposes, keep in mind it takes at least 21 days from the day you apply and are issued your numbers, until you will legally be able to cross state lines as a for hire trucking company. Once you do apply, the contact info you provide becomes public and you'll start to receive a ton of solicitations for everything from compliance companies to factoring and insurance. Watch out for snakes in the grass that try to take advantage of you. There are a lot of shady companies, especially ones who try to make you think they are the FMCSA (Federal Motor Carrier Safety Administration). Every situation is different, what licenses and hoops you have to jump through might be different than what your friend had to do. If you have any questions you can always talk to one of the experts at motorcarrierhq.com, heck you might even get to talk to Tyler. They will talk to you about your specific situation, absolutely no obligation. You can learn more by clicking here. Head to http://haulinassetsllc.com/ for the full show notes.

Big step #2 of starting a trucking company, after setting up your business, is applying for your DOT Number and MC Number, aka Operating Authority. You can't do much in trucking without one or both of these numbers. How do you know which one you need or if you need them at all? My buddy Tyler from Motorcarrier HQ and I cover all the basics in this episode. Here are some of subjects we discuss in detail: <ul><li>DOT Number</li> <li>MC Number</li> <li>Operating Authority</li> <li>BOC-3</li> <li>Insurance (We just kind of scratch the surface. This will be its own future episode)</li> <li>Vehicle weights</li> <li>UCR</li> <li>FMCSA Compliance <ul><li>Drug and Alcohol</li> <li>New Entrant Audit</li> </ul> </li> <li>Additional Permits <ul><li>New York</li> <li>New Mexico</li> <li>Kentucky</li> <li>Oregon</li> </ul> </li> </ul> Most for hire trucking companies will need to apply for an MC Number in order to get their operating authority. For your planning purposes, keep in mind it takes at least 21 days from the day you apply and are issued your numbers, until you will legally be able to cross state lines as a for hire trucking company. Once you do apply, the contact info you provide becomes public and you'll start to receive a ton of solicitations for everything from compliance companies to factoring and insurance. Watch out for snakes in the grass that try to take advantage of you. There are a lot of shady companies, especially ones who try to make you think they are the FMCSA (Federal Motor Carrier Safety Administration). Every situation is different, what licenses and hoops you have to jump through might be different than what your friend had to do. If you have any questions you can always talk to one of the experts at <a href="/haulinassets/episode/update/id/motorcarrierhq.com" rel="nofollow" target="_blank">motorcarrierhq.com</a>, heck you might even get to talk to Tyler. They will talk to you about your specific situation, absolutely no obligation. You can learn more by clicking <a href="https://www.motorcarrierhq.com/new-motor-carrier-authorities/" rel="nofollow" target="_blank">here</a>. Head to <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">http://haulinassetsllc.com/</a> for the full show notes.

#3. DOT Numbers and MC Authority

I have had a lot of people talk about the economy and the current state of the trucking industry. Things are different now than they were last year. Last year’s rates were better than we had seen in a really long time. You couldn’t help but make money but that might not have been an entirely good thing. I think this year we are seeing some negative consequences from last year’s boom. So what does that mean?What to Expect From Episode 30During this episode, Craig and I talk a lot about the state of the owner-operator world. Things were really good for most people last year and a lot of companies and owner-operators made decisions that are now having a negative impact on the freight market this year. We break it all down and talk about what I think it means.Wondering When to Start Your Trucking Company?There are pros and cons to starting and running a business when the economy or an industry is struggling and we will talk about that. I use my experience of doing just that and some of the lessons I have learned over the years. I know there are a lot of people out there asking themselves the question, “Is now the right time for me?”. That is a very personal question and I can’t answer it for you. I hope the info we share in this episode will arm you with some important information and thinking points to help you decide what is right for you in your situation.   To see full show notes and hear past episodes, check out the Haulin Assets website.

I have had a lot of people talk about the economy and the current state of the trucking industry. Things are different now than they were last year. Last year’s rates were better than we had seen in a really long time. You couldn’t help but make money but that might not have been an entirely good thing. I think this year we are seeing some negative consequences from last year’s boom. So what does that mean?What to Expect From Episode 30 During this episode, Craig and I talk a lot about the state of the owner-operator world. Things were really good for most people last year and a lot of companies and owner-operators made decisions that are now having a negative impact on the freight market this year. We break it all down and talk about what I think it means.Wondering When to Start Your Trucking Company? There are pros and cons to starting and running a business when the economy or an industry is struggling and we will talk about that. I use my experience of doing just that and some of the lessons I have learned over the years. I know there are a lot of people out there asking themselves the question, “Is now the right time for me?”. That is a very personal question and I can’t answer it for you. I hope the info we share in this episode will arm you with some important information and thinking points to help you decide what is right for you in your situation. To see full show notes and hear past episodes, check out the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a>.

#30. Starting a Business In a Questionable Economy

This is a fun episode. Who doesn’t get excited about buying the truck that they are going to use to make them money. Heck, you are probably going to live in this thing 24/7 for days, if not weeks at a time. If there is a decision you want to get right, this is it. Here are some of the things we are going to talk about: Buying new vs used If you buy used, how many miles it should have If you should buy a warranty What you should look for in a truck The cost of the truck  Head to http://haulinassetsllc.com/ for the full show notes.

This is a fun episode. Who doesn’t get excited about buying the truck that they are going to use to make them money. Heck, you are probably going to live in this thing 24/7 for days, if not weeks at a time. If there is a decision you want to get right, this is it. Here are some of the things we are going to talk about: <ul><li>Buying new vs used</li> <li>If you buy used, how many miles it should have</li> <li>If you should buy a warranty</li> <li>What you should look for in a truck</li> <li>The cost of the truck</li> </ul> Head to <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">http://haulinassetsllc.com/</a> for the full show notes.

#5. Buying a Truck

One of the most common questions I get from people starting a new trucking company is how to find loads when so many brokers won't work with you. Even though we have had other episodes that talk about finding loads, I still get a lot of questions specific to getting through that first 90 days when your options with brokers is limited. So.... I decided to do a full episode dedicated to just that.What to Expect From Episode 32Craig and I dive into the specifics of working with brokers who will accept a brand new trucking company with a brand new trucking authority. We also talk about a list I created of brokers who will work with new authorities. Service and professionalism is the key. The list of brokers and some more pointers are available for free at motorcarrierhq.com. If you have found some other larger brokers who work with new trucking companies, let us know in the comments at the the Haulin Assets website.

One of the most common questions I get from people starting a new trucking company is how to find loads when so many brokers won't work with you. Even though we have had other episodes that talk about finding loads, I still get a lot of questions specific to getting through that first 90 days when your options with brokers is limited. So.... I decided to do a full episode dedicated to just that.What to Expect From Episode 32 Craig and I dive into the specifics of working with brokers who will accept a brand new trucking company with a brand new trucking authority. We also talk about a list I created of brokers who will work with new authorities. Service and professionalism is the key. The list of brokers and some more pointers are available for free at <a href="https://www.motorcarrierhq.com/Brokers-for-new-authorities" rel="nofollow" target="_blank">motorcarrierhq.com</a>. If you have found some other larger brokers who work with new trucking companies, let us know in the comments at the the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a>.

#32. New Authority Brokers

There are good brokers and bad brokers; you need to know how to deal with the guys who don't care about you or your business and just want to get everything out of you that they can. Listen to this episode to learn what to watch out for when dealing with brokers. Why I'm Doing Haulin Assets In this episode I also talked a bit more about my background and why I am doing this podcast. I mentioned a couple of my businesses that provide different services to the trucking industry. If you ever had a need for any of the services we provide, we would love to have yo consider working with us. Motor Carrier HQ helps drivers who want to start their own trucking company go through the startup process and it helps them with other administrative requirements like DOT compliance, IFTA, etc. you can check it out at motorcarrierhq.com. I also mentioned iThrive Funding that helps trucking companies manage their cashflow and billing paperwork through factoring, you can check them out at ithrivefunding.com. What to Expect From Episode 27 Craig and I discuss the difference between transactional relationships and lasting relationships. Most brokers work with owner operators like it's a transactional relationship. Basically, they don't care if they ever do business with you again, and that's how they treat you, and some will try to take advantage of you. Because of that, you need to be careful with how you deal with them so you are protected. Here are the main things you need to watch out for, we cover them in detail during this episode, including what you can do to prevent them from happening to you: Not getting paid for a load Not getting paid for detention Not getting reimbursed for lumper fees  Other Things to Be Careful Of: Watch out for brokers who promise the world. Read the rate sheet, look for hidden fees, fines, and weird conditions. Be wary of brokers who have been in business for less than 12 months.  See all show notes at the Haulin Assets website, where you can also hear previous episodes.

There are good brokers and bad brokers; you need to know how to deal with the guys who don't care about you or your business and just want to get everything out of you that they can. Listen to this episode to learn what to watch out for when dealing with brokers. Why I'm Doing Haulin Assets In this episode I also talked a bit more about my background and why I am doing this podcast. I mentioned a couple of my businesses that provide different services to the trucking industry. If you ever had a need for any of the services we provide, we would love to have yo consider working with us. Motor Carrier HQ helps drivers who want to start their own trucking company go through the startup process and it helps them with other administrative requirements like DOT compliance, IFTA, etc. you can check it out at <a href="http://motorcarrierhq.com/" rel="nofollow" target="_blank">motorcarrierhq.com</a>. I also mentioned iThrive Funding that helps trucking companies manage their cashflow and billing paperwork through factoring, you can check them out at <a href="https://www.ithrivefunding.com/transportation/" rel="nofollow" target="_blank">ithrivefunding.com</a>. What to Expect From Episode 27 Craig and I discuss the difference between transactional relationships and lasting relationships. Most brokers work with owner operators like it's a transactional relationship. Basically, they don't care if they ever do business with you again, and that's how they treat you, and some will try to take advantage of you. Because of that, you need to be careful with how you deal with them so you are protected. Here are the main things you need to watch out for, we cover them in detail during this episode, including what you can do to prevent them from happening to you: <ul><li>Not getting paid for a load</li> <li>Not getting paid for detention</li> <li>Not getting reimbursed for lumper fees</li> </ul> Other Things to Be Careful Of: <ul><li>Watch out for brokers who promise the world.</li> <li>Read the rate sheet, look for hidden fees, fines, and weird conditions.</li> <li>Be wary of brokers who have been in business for less than 12 months.</li> </ul> See all show notes at the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a>, where you can also hear previous episodes.

#27. Don't Get Screwed, Broker Edition

In this episode Craig and I cover two topics. First, we talk about the UCR (Unified Carrier Registration) fee and how it brings out the dark side of the trucking industry and then we talk about a life principle that is super important for anyone who runs their own business. It’s kind of strange because these two topics are really not related, but I wanted to cover the UCR because this is the time of year the predators start to come out and take advantage of owner operators, so it got plugged into the beginning of this episode.Unified Carrier Registration aka UCR and Shady Business PracticesYou can learn more about exactly what the UCR is by checking out this blog post about it. In the podcast I talk about how a lot of companies use scare tactics to try to get you to pay way too much for them to take care of it for you. I have seen companies charge over $300 to file the UCR for a one-truck company. It should cost less than half that for a third-party company to provide that service. Be careful out there. If you ever have a question about a fee someone is trying to charge you for that you are not confident you owe, give one of our coaches at Motor Carrier HQ a call and they will let you know if it is legitimate or not, those calls are always free.Get Out of Your Comfort ZoneOn the surface, this may seem like a lame, unimportant topic, but let me assure you it is critical. It is human nature to want to focus on things that we are good at or that we enjoy doing, while we avoid doing tasks we dislike or are not good at. In this episode we discuss why it is important to do some of those tasks and how that will make you more successful. Here are some of the things I see a lot of trucking company owners avoiding or not doing that they need to do: Understanding the numbers in your business Talking to shippers Negotiating rates Being nice to everyone Saving money  We go into each one of these items in detail during the episode. See the full show notes at the Haulin Assets website, where you can also hear previous episodes.

In this episode Craig and I cover two topics. First, we talk about the UCR (Unified Carrier Registration) fee and how it brings out the dark side of the trucking industry and then we talk about a life principle that is super important for anyone who runs their own business. It’s kind of strange because these two topics are really not related, but I wanted to cover the UCR because this is the time of year the predators start to come out and take advantage of owner operators, so it got plugged into the beginning of this episode.Unified Carrier Registration aka UCR and Shady Business Practices You can learn more about exactly what the UCR is by checking out this <a href="https://www.motorcarrierhq.com/2015/07/14/understanding-the-ucr-process-and-fees/" rel="nofollow" target="_blank">blog post </a>about it. In the podcast I talk about how a lot of companies use scare tactics to try to get you to pay way too much for them to take care of it for you. I have seen companies charge over $300 to file the UCR for a one-truck company. It should cost less than half that for a third-party company to provide that service. Be careful out there. If you ever have a question about a fee someone is trying to charge you for that you are not confident you owe, give one of our coaches at <a href="https://www.motorcarrierhq.com/contact-us/" rel="nofollow" target="_blank">Motor Carrier HQ a call </a>and they will let you know if it is legitimate or not, those calls are always free.Get Out of Your Comfort Zone On the surface, this may seem like a lame, unimportant topic, but let me assure you it is critical. It is human nature to want to focus on things that we are good at or that we enjoy doing, while we avoid doing tasks we dislike or are not good at. In this episode we discuss why it is important to do some of those tasks and how that will make you more successful. Here are some of the things I see a lot of trucking company owners avoiding or not doing that they need to do: <ul><li>Understanding the numbers in your business</li> <li>Talking to shippers</li> <li>Negotiating rates</li> <li>Being nice to everyone</li> <li>Saving money</li> </ul> We go into each one of these items in detail during the episode. See the full show notes at the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a>, where you can also hear previous episodes.

#23. Get Out of Your Comfort Zone

What does it mean to control your circumstances, when so much seems to be out of our control? In this episode, Chris argues that there's more within your control than you might think, if you're willing to put in the work to see it. It takes discipline and foresight, but controlling your circumstances -- to an extent! -- is not only possible, it's actually not too complicated either. Chris gives a couple of recent examples from the road to illustrate how he's taken control of his own circumstances... and how he failed to, in one case. See the full show notes at the Haulin Assets website, where you can also hear previous episodes.

What does it mean to control your circumstances, when so much seems to be out of our control? In this episode, Chris argues that there's more within your control than you might think, if you're willing to put in the work to see it. It takes discipline and foresight, but controlling your circumstances -- to an extent! -- is not only possible, it's actually not too complicated either. Chris gives a couple of recent examples from the road to illustrate how he's taken control of his own circumstances... and how he failed to, in one case. See the full show notes at the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a>, where you can also hear previous episodes.

#26. Control Your Circumstances

Things are looking better for the month of October than they were for the few months previous. That's not to say that nothing unexpected or difficult came up, but thanks to Chris's preparedness and the relationships he's cultivated, he was still able to turn a decent profit even while driving slightly less than his monthly average. In today's episode, Chris shares with Craig the numbers for October and also shares some stories that illustrate why it's so important to cultivate relationships--you never know when the right one will be there to help your business thrive. Another story illustrates Chris's point from last week to be wary of a few things that brokers might do to make your life harder than it needs to be. See all show notes at the Haulin Assets website, where you can also hear previous episodes.

Things are looking better for the month of October than they were for the few months previous. That's not to say that nothing unexpected or difficult came up, but thanks to Chris's preparedness and the relationships he's cultivated, he was still able to turn a decent profit even while driving slightly less than his monthly average. In today's episode, Chris shares with Craig the numbers for October and also shares some stories that illustrate why it's so important to cultivate relationships--you never know when the right one will be there to help your business thrive. Another story illustrates Chris's point from last week to be wary of a few things that brokers might do to make your life harder than it needs to be. See all show notes at the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a>, where you can also hear previous episodes.

#28. October Financials

This episode will work best if you follow along with the P&amp;L sheet that we've included in the show notes, HERE. Drum roll please! This is the moment of reckoning. Did I make money or lose money the first three months out on the road? I answer that question during this episode. Okay, spoiler, I made $8,149.17 over that three months and that is on top of what I paid myself as a driver. Not too bad considering a lot of businesses lose money during the first year. In this episode Craig and I go over the Profit and Loss Statement, often called the P&amp;L, for the first three full months I was out on the road and I have to say I was pleasantly surprised. If you have never seen a P&amp;L, it might be kind of confusing. Best way to learn and digest the info is to look at the P&amp;L below and follow along as we talk about it during this episode. Be sure to visit the Haulin Assets website to hear previous episodes and view full show notes.

This episode will work best if you follow along with the P&amp;L sheet that we've included in the show notes, <a href="http://haulinassetsllc.com/2019/08/24/how-much-money-d%E2%80%A6cking-episode-17/" rel="nofollow" target="_blank">HERE</a>. Drum roll please! This is the moment of reckoning. Did I make money or lose money the first three months out on the road? I answer that question during this episode. Okay, spoiler, I made $8,149.17 over that three months and that is on top of what I paid myself as a driver. Not too bad considering a lot of businesses lose money during the first year. In this episode Craig and I go over the Profit and Loss Statement, often called the P&amp;L, for the first three full months I was out on the road and I have to say I was pleasantly surprised. If you have never seen a P&amp;L, it might be kind of confusing. Best way to learn and digest the info is to look at the P&amp;L below and follow along as we talk about it during this episode. Be sure to visit the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a> to hear previous episodes and view full show notes.

#17. Did I Make Money During the First Three Months Trucking?

Do you want to know what one thing will have one of the biggest impact on your business? It's giving your business a sold direction with specific goals to meet. Annual planning is one of the things Chris does that has a significant benefit to his businesses. It doesn't have to be complicated or long and drawn out. In fact, simple is better.

Do you want to know what one thing will have one of the biggest impact on your business? It's giving your business a sold direction with specific goals to meet. Annual planning is one of the things Chris does that has a significant benefit to his businesses. It doesn't have to be complicated or long and drawn out. In fact, simple is better.

#34. How To Start The New Year Off Right

In this episode I really focus on the importance of thinking like an owner. This journey really starts with YOU and a desire for something different. For me, that was deciding I wanted my hard work to make more money for myself and not for someone else. I also wanted to be in control of my destiny, not have someone else in control of it. Here are some of the changes in mindset we talk about. Have a good attitude Think like an owner Be prepared  I hope this episode helps you think of ways to think more like an owner. What other ways do you think like an owner? Let us know in the comments section at our website. Head to http://haulinassetsllc.com/ for the full show notes.

In this episode I really focus on the importance of thinking like an owner. This journey really starts with YOU and a desire for something different. For me, that was deciding I wanted my hard work to make more money for myself and not for someone else. I also wanted to be in control of my destiny, not have someone else in control of it. Here are some of the changes in mindset we talk about. <ul><li>Have a good attitude</li> <li>Think like an owner</li> <li>Be prepared</li> </ul> I hope this episode helps you think of ways to think more like an owner. What other ways do you think like an owner? Let us know in the comments section at our website. Head to <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">http://haulinassetsllc.com/</a> for the full show notes.

#4. Changing Your Mindset

This is another topic that's important enough that we'll revisit it a few times over our first year or so. Cost per mile is a vital number to know for your business, and if you know it, you've already got a leg up on about 80% of the other owner-operators out there. So why do you need to know your cost per mile? It helps you make important business decisions It ensures you take the right loads It helps you know if you're spending too much in certain categories, like fuel or repairs  What goes into cost per mile? Number of miles you drive Your fixed costs and variable costs  Knowing the difference between fixed and variable costs will really up your game as a business owner, and that's what we'll discuss on today's episode. Check out our Cost Per Mile Calculator at MotorCarrierHQ.com. And visit the Haulin Assets website to hear previous episodes and view full show notes.

This is another topic that's important enough that we'll revisit it a few times over our first year or so. Cost per mile is a vital number to know for your business, and if you know it, you've already got a leg up on about 80% of the other owner-operators out there. So why do you need to know your cost per mile? <ul><li>It helps you make important business decisions</li> <li>It ensures you take the right loads</li> <li>It helps you know if you're spending too much in certain categories, like fuel or repairs</li> </ul> What goes into cost per mile? <ul><li>Number of miles you drive</li> <li>Your fixed costs and variable costs</li> </ul> Knowing the difference between fixed and variable costs will really up your game as a business owner, and that's what we'll discuss on today's episode. Check out our <a href="https://www.motorcarrierhq.com/tools/calculator-2/" rel="nofollow" target="_blank">Cost Per Mile Calculator</a> at <a href="http://MotorCarrierHQ.com" rel="nofollow" target="_blank">MotorCarrierHQ.com</a>. And visit the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a> to hear previous episodes and view full show notes.

#20. Understanding Cost Per Mile

One of the most common questions Owner Operators ask themselves is whether they should take a lower paying load now, or sit and wait for a better paying load. We try to answer that question during this episode.What To Expect From Episode 36Math class is in session. Here is a story problem we are going to use to answer the question whether we should take a load or sit. You know you can get a load today at $1.80 per-mile that will keep you running 650 miles a day for three days. What rate per mile do you need to earn the same gross income if you sit today and wait for a better paying load tomorrow that runs two days at 650 miles per day? Your variable costs are $1.33 per mile. Download this worksheet to help with the problem.

One of the most common questions Owner Operators ask themselves is whether they should take a lower paying load now, or sit and wait for a better paying load. We try to answer that question during this episode.What To Expect From Episode 36 Math class is in session. Here is a story problem we are going to use to answer the question whether we should take a load or sit. You know you can get a load today at $1.80 per-mile that will keep you running 650 miles a day for three days. What rate per mile do you need to earn the same gross income if you sit today and wait for a better paying load tomorrow that runs two days at 650 miles per day? Your variable costs are $1.33 per mile. Download this <a href="https://www.motorcarrierhq.com/" rel="nofollow" target="_blank">worksheet</a> to help with the problem.

#36. To Take A Load, Or Not, That Is The Question

I thought it would be fun to see how much  of a cost difference it would to eat out for a week verses eating store bought food for a week. I was shocked at the difference. Listen to the episode for the full details, but some of the highlights are below. Leave a comment let me know what you do to save money on the road. In this episode Craig and I talk about my little experiment to determine the cost difference between eating at truck stops and restaurants for a week compared to eating food I bought at Walmart and was prepared at home or on the road. The difference was shocking. See the full show notes at the Haulin Assets website, where you can also hear previous episodes.

I thought it would be fun to see how much  of a cost difference it would to eat out for a week verses eating store bought food for a week. I was shocked at the difference. Listen to the episode for the full details, but some of the highlights are below. Leave a comment let me know what you do to save money on the road. In this episode Craig and I talk about my little experiment to determine the cost difference between eating at truck stops and restaurants for a week compared to eating food I bought at Walmart and was prepared at home or on the road. The difference was shocking. See the full show notes at the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a>, where you can also hear previous episodes.

#22 - Eating Out vs Store Bought Food

The Bad NewsI like to rip the bandaid off quick and get the bad news over with first. The head on my truck cracked and had to be replaced along with the cylinder sleeves. I was off the road for three weeks.The Good NewsIt was all covered under the extended warranty I purchased. Boy am I glad I bought that warranty.What to Expect From Episode 33A major engine repair on a truck with as few miles as mine has is rare, but it does happen. If you don't plan and prepare for something like this to happen, it will probably be the end of your business. The biggest thing I did right was buying the extended warranty from the manufacturer of the truck. I learned a bunch of other lessons from this experience, I have listed some of them below. Listen to the episode for full details.Lessons LearnedPrepare a head of timeBuy an extended warranty, it's like insurance. I am usually not a fan of warranties on vehicles, but a truck is your business's lifeblood, it makes sense because a major repair in your first year will likely kill your business. Roadside assistance. There are companies that provide a subscription type of service that includes some towing and roadside assistance. I am not as big a fan of this, I don't currently use it personally, but you might want to consider it.   Have a plan for when it happensCover your personal budget. You either need to have personal savings to last you several weeks or you need to have a temporary employment plan. (There are trucking companies out there who will keep a driver on their books and use you when you are available.) Consider renting a truck. Time of year will play a big factor in whether this is worth it or not. Talk to your insurance agent. You might be able to reduce coverages while your truck is down. Talk to your lender. They might be willing to let you skip a payment.    Take a deep breath, this is just a bump in the road and you will be able to get through it. Don't let yourself get focused on what is happening right now, look at the big picture.

The Bad News I like to rip the bandaid off quick and get the bad news over with first. The head on my truck cracked and had to be replaced along with the cylinder sleeves. I was off the road for three weeks.The Good News It was all covered under the extended warranty I purchased. Boy am I glad I bought that warranty.What to Expect From Episode 33 A major engine repair on a truck with as few miles as mine has is rare, but it does happen. If you don't plan and prepare for something like this to happen, it will probably be the end of your business. The biggest thing I did right was buying the extended warranty from the manufacturer of the truck. I learned a bunch of other lessons from this experience, I have listed some of them below. Listen to the episode for full details.Lessons Learned <ul><li>Prepare a head of time <ul><li>Buy an extended warranty, it's like insurance. I am usually not a fan of warranties on vehicles, but a truck is your business's lifeblood, it makes sense because a major repair in your first year will likely kill your business.</li> <li>Roadside assistance. There are companies that provide a subscription type of service that includes some towing and roadside assistance. I am not as big a fan of this, I don't currently use it personally, but you might want to consider it.</li> </ul> </li> <li>Have a plan for when it happens <ul><li>Cover your personal budget. You either need to have personal savings to last you several weeks or you need to have a temporary employment plan. (There are trucking companies out there who will keep a driver on their books and use you when you are available.)</li> <li>Consider renting a truck. Time of year will play a big factor in whether this is worth it or not.</li> <li>Talk to your insurance agent. You might be able to reduce coverages while your truck is down.</li> <li>Talk to your lender. They might be willing to let you skip a payment.</li> </ul> </li> </ul> Take a deep breath, this is just a bump in the road and you will be able to get through it. Don't let yourself get focused on what is happening right now, look at the big picture.

#33. Bad News, Good News

In this episode we talk about the different types of lenders and some of the things they look for. We also give you some tips to help give you the greatest chance of success. It all really boils down to finding the right lender who best matches up with your particular situation. You may be a square peg, and some lenders might be a round hole. You won’t get anywhere trying to get your square peg into their round hole. Look for that lender that loves square pegs, and you will have found your match. Once you have found your lender, be prepared for the following: You will have to fill out an application with each lender you get serious with. You will probably have to put down a 10-20% down payment. You are going to have to provide the lender a bunch of info. (See the list below.) After you think you have given them everything but the kitchen sink, they are going to come back and ask for the kitchen sink. Then, they might even come back again and ask for the bathroom sink.  Good luck!! If you have any questions about the process or if you have found a trick we didn’t talk about, let us know in the comments under the full show notes, at http://haulinassetsllc.com/.

In this episode we talk about the different types of lenders and some of the things they look for. We also give you some tips to help give you the greatest chance of success. It all really boils down to finding the right lender who best matches up with your particular situation. You may be a square peg, and some lenders might be a round hole. You won’t get anywhere trying to get your square peg into their round hole. Look for that lender that loves square pegs, and you will have found your match. Once you have found your lender, be prepared for the following: <ul><li>You will have to fill out an application with each lender you get serious with.</li> <li>You will probably have to put down a 10-20% down payment.</li> <li>You are going to have to provide the lender a bunch of info. (See the list below.)</li> <li>After you think you have given them everything but the kitchen sink, they are going to come back and ask for the kitchen sink. Then, they might even come back again and ask for the bathroom sink.</li> </ul> Good luck!! If you have any questions about the process or if you have found a trick we didn’t talk about, let us know in the comments under the full show notes, at <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">http://haulinassetsllc.com/</a>.

#6. Financing Your Truck and Trailer

Finding loads is probably one of the most important topics we are going to cover in our podcast. If you aren't finding enough loads or the right loads, your business is going to struggle. In this episode on finding loads, we are going to cover the basics and not get into too much detail. We'll hit this topic several times as the year goes on and get into more and more detail each time we do. What to Expect From Episode 7 We talk about the four main ways companies get loads: Directly from shippers Through brokers Searching on load boards Using a dispatcher  To read more about why we suggest that most new owner operators use a good dispatcher, and what makes a good dispatcher, check out the full show notes at HaulinAssetsLLC.com.

Finding loads is probably one of the most important topics we are going to cover in our podcast. If you aren't finding enough loads or the right loads, your business is going to struggle. In this episode on finding loads, we are going to cover the basics and not get into too much detail. We'll hit this topic several times as the year goes on and get into more and more detail each time we do. What to Expect From Episode 7 We talk about the four main ways companies get loads: <ul><li>Directly from shippers</li> <li>Through brokers</li> <li>Searching on load boards</li> <li>Using a dispatcher</li> </ul> To read more about why we suggest that most new owner operators use a good dispatcher, and what makes a good dispatcher, check out the full show notes at <a href="https://haulinassetsllc.com/" rel="nofollow" target="_blank">HaulinAssetsLLC.com</a>.

#7. How to Find Loads

I'm pleasantly surprised I made money in August. If you have been listening to the podcast, you will know I am in the Army National Guard and I did my two-week training period during August. I was only on the road for 10 full days and two partial days in August. My total mileage for the month was only 6,645. Even with half the month off I was able to make all the important payments and the company made $595.65. The down side was, as a driver I earned half of what I normally would. Luckily, I get paid from the National Guard to make up for it. In this episode Craig and I review the Haulin Assets financial statements for August.  We also talk about the effects of only running half a month and how that affected the profit and loss statement and balance sheet. You can see both in the full show notes at HaulinAssetsLLC.com.

I'm pleasantly surprised I made money in August. If you have been listening to the podcast, you will know I am in the Army National Guard and I did my two-week training period during August. I was only on the road for 10 full days and two partial days in August. My total mileage for the month was only 6,645. Even with half the month off I was able to make all the important payments and the company made $595.65. The down side was, as a driver I earned half of what I normally would. Luckily, I get paid from the National Guard to make up for it. In this episode Craig and I review the Haulin Assets financial statements for August.  We also talk about the effects of only running half a month and how that affected the profit and loss statement and balance sheet. You can see both in the full show notes at <a href="https://haulinassetsllc.com/2019/09/24/august-financials-episode-21/" rel="nofollow" target="_blank">HaulinAssetsLLC.com</a>.

#21. August Financials

This is a fun episode for me because I get to use my military experience in the business world. It never ceases to amaze me how often my military experience helps me in the business world and how my business experience helps me in my military life. The military does a lot of good things that the private sector can learn from and vice versa. (Don't forget you can visit the Haulin Assets website to hear previous episodes and view full show notes.) In this episode I talk about a very common topic in the Army, priorities of work. I use the example of setting up a patrol base. When you are out in enemy territory on a foot patrol and are going to stop for a significant period of time, you set up what is called a patrol base. The Army preaches the importance of prioritizing your tasks so you do the most important things first that are going to have the biggest impact on your ability to survive and complete the mission. Here is a simplified version of what the priorities of work are. Establish security. You create a 360 degree perimeter and place your weapon systems in the best place and make sure everyone has an area they are responsible for. Continually improve your fighting position. Weapons maintenance. Personal hygiene. Eat. Drink water. Rest/sleep. (Not everyone at once) When you set up a patrol base after a long hard march, typically the last thing you want to do is clean your weapon and what you really want to do is eat and sleep. The priorities of work make sure you do the important things first, if you don't create a strong security posture and clean your weapon and are attacked, things will get ugly real fast and you'll wish you had skipped dinner. The same is true in business. It is really tempting to eat and sleep or maybe watch TV as soon as you finish your driving for the day. You probably have more important things to do like figuring out where to fuel so you buy the cheapest diesel and getting that next load so you don't get caught sitting once you drop off your current load. Being disciplined in the little things and doing the most important things first is what makes you successful with the big things. I broke the priorities of work into two categories and we talk about them in more detail in this episode.Priorities of Work During a 10 Hour BreakTake care of any urgent equipment issues. Find your next load. Personal time. (Eat, exercise, relax) Sleep. (You have to make sure you get an adequate amount of sleep before you drive again, this is critical. If you haven't finished the items listed above and it is time to sleep, stop doing those items and go to sleep.) Prepare for the day.Plan your route and where you will fuel. Handle issue with truck/trailer. Sweep the trailer.  Pre-trip.Priorities of Work While At A Shipper/ReceiverGet backed into the door asap. Take care of issues with the truck. Find loads Work on the business, for example, enter expenses into your accounting system. Eat, sleep, relax.

This is a fun episode for me because I get to use my military experience in the business world. It never ceases to amaze me how often my military experience helps me in the business world and how my business experience helps me in my military life. The military does a lot of good things that the private sector can learn from and vice versa. (Don't forget you can visit the <a href="http://haulinassetsllc.com/" rel="nofollow" target="_blank">Haulin Assets website</a> to hear previous episodes and view full show notes.) In this episode I talk about a very common topic in the Army, priorities of work. I use the example of setting up a patrol base. When you are out in enemy territory on a foot patrol and are going to stop for a significant period of time, you set up what is called a patrol base. The Army preaches the importance of prioritizing your tasks so you do the most important things first that are going to have the biggest impact on your ability to survive and complete the mission. Here is a simplified version of what the priorities of work are. <ol><li>Establish security. You create a 360 degree perimeter and place your weapon systems in the best place and make sure everyone has an area they are responsible for.</li> <li>Continually improve your fighting position.</li> <li>Weapons maintenance.</li> <li>Personal hygiene.</li> <li>Eat.</li> <li>Drink water.</li> <li>Rest/sleep. (Not everyone at once)</li> </ol>When you set up a patrol base after a long hard march, typically the last thing you want to do is clean your weapon and what you really want to do is eat and sleep. The priorities of work make sure you do the important things first, if you don't create a strong security posture and clean your weapon and are attacked, things will get ugly real fast and you'll wish you had skipped dinner. The same is true in business. It is really tempting to eat and sleep or maybe watch TV as soon as you finish your driving for the day. You probably have more important things to do like figuring out where to fuel so you buy the cheapest diesel and getting that next load so you don't get caught sitting once you drop off your current load. Being disciplined in the little things and doing the most important things first is what makes you successful with the big things. I broke the priorities of work into two categories and we talk about them in more detail in this episode.Priorities of Work During a 10 Hour Break <ol><li>Take care of any urgent equipment issues.</li> <li>Find your next load.</li> <li>Personal time. (Eat, exercise, relax)</li> <li>Sleep. (You have to make sure you get an adequate amount of sleep before you drive again, this is critical. If you haven't finished the items listed above and it is time to sleep, stop doing those items and go to sleep.)</li> <li>Prepare for the day. <ol><li>Plan your route and where you will fuel.</li> <li>Handle issue with truck/trailer.</li> <li>Sweep the trailer.</li> </ol></li> <li>Pre-trip.</li></ol>Priorities of Work While At A Shipper/Receiver <ol><li>Get backed into the door asap.</li> <li>Take care of issues with the truck.</li> <li>Find loads</li> <li>Work on the business, for example, enter expenses into your accounting system.</li> <li>Eat, sleep, relax.</li></ol>

#19. Priorities of Work

What’s the difference between driving as an owner operator or working for a company? We got a lot of questions about this topic, so we did an entire episode about it. Check it out!  A couple of episodes ago, we started doing a question and answer piece at the end of each episode. Thanks to all of your questions, we decided to do an entire episode about a topic a lot of people were asking us about. Episode 10 is all about the pros and cons of being an owner operator vs. an employee driver.  For a lot of people, it boils down to something like this:  “I make $70K+ a year, why should I start my own company?”  That’s definitely true for some truck drivers, but I don’t think trucking is really all about the money for everyone. In this episode I talk a lot about what being a business owner is all about. I think it really boils down to: Do you have the desire? Do you have the drive? Do you have the skills necessary?  There's lots of material associated with this episode, so check out the full show notes at https://haulinassetsllc.com/episodes/ And find the tools you need to get started as an Owner Operator at https://www.motorcarrierhq.com/

What’s the difference between driving as an owner operator or working for a company? We got a lot of questions about this topic, so we did an entire episode about it. Check it out!  A couple of episodes ago, we started doing a question and answer piece at the end of each episode. Thanks to all of your questions, we decided to do an entire episode about a topic a lot of people were asking us about. Episode 10 is all about the pros and cons of being an owner operator vs. an employee driver.  For a lot of people, it boils down to something like this:  “I make $70K+ a year, why should I start my own company?”  That’s definitely true for some truck drivers, but I don’t think trucking is really all about the money for everyone. In this episode I talk a lot about what being a business owner is all about. I think it really boils down to: <ul><li>Do you have the desire?</li> <li>Do you have the drive?</li> <li>Do you have the skills necessary?</li> </ul> There's lots of material associated with this episode, so check out the full show notes at <a href="https://haulinassetsllc.com/episodes/" rel="nofollow" target="_blank">https://haulinassetsllc.com/episodes/</a> And find the tools you need to get started as an Owner Operator at <a href="https://www.motorcarrierhq.com/" rel="nofollow" target="_blank">https://www.motorcarrierhq.com/</a>

#10. Owner Operator vs. Employee Driver

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