What it Takes to Become an Owner-Operator

On a conference call with our tax accountant, he called us out personally and said “Guys, you can’t be a jack of all trades… leave the details to the professionals…” as he tried to sell us on their in house accounting products. Unfortunately, we didn’t have the privilege of the extra revenue to be able to afford such a luxury - to hand off our responsibilities as a single truck operation - that would cut a good chunk of our already small profit margins.

Overhead. Overhead. Overhead. "Location, location, location.”

Plan for the absolute worst to happen. Even when trucks are new and under warranty - if your truck is down for an extended period of time, your liabilities are still due, and there is so much more than truck payments when you become an owner. If you fall behind in less than a few months or are relying on advances to fuel up your truck, you didn’t save accordingly. Before buying your first truck, make sure to have 6 months or more of your overhead costs. Figure your expenses; truck payment, insurance payments, satellite and equipment payments, credit card payments, and any additional fees you might be accruing every month, then multiply that by 6 - and add a couple grand on top of each month to give you wiggle room for those additional expenses, like general maintenance, for a good estimate of what your nest egg should be.

Truck buying - “Don’t sell yourself short - literally.”

Whether you’re building or buying your first truck, make sure your equipment gives you options, and can sign onto multiple different carriers in case you needed to abandon ship at your current company. This is only a safety net - being able to move your equipment when things go wrong - a back up plan that you hopefully won’t have to use but is there if you need it. Then when you do want to invest in specialized equipment in a smaller market, make sure you’ve personally done your time in said segment to gain the most insight to where you’re investing. Don’t go run out and buy a truck for a specific lane that you’ve never run or are “being promised”, or when you’re new in a segment of an industry you’ve never been apart of.

Networking.

“It’s not what you know, it’s who you know.” is a sentiment we have been sharing with anyone and everyone we’ve ever met that ask us for tips to find success within trucking. Whether you’re someone who is talkative or more reserved, you’ll have to learn to be both when the opportunity is presented to you. Learn to shut your mouth and open your ears to listen to people who’ve been in it longer than you, take value in learning from their mistakes, and ask as many questions as you can. Connections are a great thing to have, and when issues present themselves (and they will) you’ll need to know where to go to find those answers. Google and Reddit will only be able to help you with so much. So, build up your network and make friends in the right areas, which means all areas.

Ask Around.

Talk to fellow owners that have insight into the truck you’re looking to buy or build, as well as the equipment attached to it; APUs, liftgates, reefers, etc. If you’re unsure of companies, talk to their drivers, ask about miles, bonuses, backhauls, etc. Looking to build or buy a truck? Then get quotes at multiple dealerships, and ask other owners where they purchased and if they have any recommendations on dealerships. Don’t just jump on the first opportunity that presents itself.

Listen to your gut.

“If something seems too good to be true, than it probably is.” The trucking industry has a ridiculous amount of scams that prey on uniformed and/or new drivers looking to move up and branch out as an owner. If a company or dealership rubs you the wrong way, look elsewhere and move on. At the end of the day, our gut has saved us from making deals with bad seeds, and kept us from getting taken advantage of in every aspect of the business.

Take your time.

The statistics for small businesses are scary and disheartening to say the least. In their first year, 20% of small businesses are doomed to fail. By year 5, less than 50% still remain. The most common causes that lead to entrepreneurs and small businesses failing is lack of planning and cash flow issues. If you want to equip yourself to avoid ending up on the wrong side of these stats, take your time, learn and absorb everything you can, and always have a back up plan.

- Run Hard, Dream Big

New Year, New Sheets

Trucking is as volatile as ever, so sleep quality should be on the top of your self-care list.

With that in mind - when was the last time you changed your sheets or bought new pillows? We are supposed to spend a third of our day in bed, at a minimum, yet many people overlook this area of their home without a second thought. A 2022 study found that over 70% of truck drivers reported poor sleep quality, with a multitude of contributing variables that are generally out of our control. Fortunately, bedding is not one of them! Getting the best nights sleep requires investing in your bedding – from your pillows and sheets, to your mattress; so let’s take a dive into some of the best tips for making your bed something you always look forward to getting into.

We'll start with soft sheets and pillowcases, which are of utmost importance. You want that high end hotel feeling when you slide into bed, as this is the introduction to telling your body that it’s time to wind down for the day. To achieve this, we highly recommend organic cotton sheets or hemp sheets, since they only get softer with every wash. Not to mention, both materials have great longevity and are ideal for temperature regulation. When we are shopping for bedding, we generally focus on three areas: the feel on our skin, the brand, and a thread count in the 500-700 range. These organic cotton pillow-cases we recently upgraded to are so buttery soft, we immediately placed a 2nd order after the first night using them. For anyone focusing on hair health and preventing breakage, or those of you with sensitive and/or acne prone skin, we recommend satin pillowcases. We can vouch for these, as they have held up to truck stop washers and dryers for years!

Instead of using a standard comforter, we opt for more comfort and ease here too - swapping between heavy-weave blankets and our goose feather duvet, depending on the season. We prefer larger blankets for maximum coverage and ease of cleaning, something you don’t usually find with a normal comforter set. So, when we pull out our down comforter in the winter, we use a duvet cover to keep it clean and swap the cover out weekly. We also keep a rotation of throw blankets on the end of the bed, for nights when we might be running a bit warmer and want something more minimal, or when we want an additional layer to throw over our main blanket. It adds that extra layer of comfort that we normally only afford ourselves at home in our living rooms. If you suffer from anxiety or have trouble falling asleep when roads are rough and it feels like you’re bouncing all over the bed, we suggest investing into a weighted blanket. These give you that "hugged" feeling that has shown promising results for those suffering from anxiety and sleep disorders.

Another priceless investment we made was a mattress topper. We bought one from Casa Luna line sold at Target many years ago - one of our favorite brands - and it has proven to be a godsend. It's now is a part of our “must pack” list when moving between trucks. Not only was it more affordable than a mattress pad, but it’s lasted us for years and hasn’t lost shape due to being down-filled instead of the typical foam topper. These toppers can completely revamp a mattress and add an additional layer of comfort that is hard to find in truck mattresses and normally only felt on genuine pillow-top mattresses – here’s one identical to the one we use and recommend.

Another thing we’re not running low in our sleeper, is pillows. We currently tote about 6-7 pillows at any given moment. We use four main pillows; two more firm pillows at the head of the bed to replicate the feeling and support of a headboard, with two medium soft pillows in front of them, along with a decade old pillow at the forefront for resting under our arm or strangling at our sides. Lastly, we keep 2 specialty pillows - one is a knee pillow that we’ve rotated over the last 8 years, since knee pain is common after a long shift, and keeping our hips aligned when sleeping has helped mitigate that; and an adjustable support pillow for doing office work and/or reading in bed, or for nights were we need to elevate an aging and weary body part.

Some final tips we can share, is we’ve incorporated is buying darker bedding, to be able to make the sleeper as dark as possible for daytime sleeping, which can really go a long way. Every little bit of light that you can remove for the daytime sleeper is peak for proper rest. Also, if you or your pets suffer from allergies or have sensitive skin, changing and washing your sheets weekly can help immensely with any symptoms either of you might be suffering from! So keeping an extra set or two of sheets and pillow cases will keep you running comfortably.

All in all, quality bedding isn’t always cheap, but you can usually find everything we’ve mentioned at an affordable price or on sale in big box stores. The important thing to remember is that your sleep quality affects your overall health and well being, so bedding is undoubtedly an investment, both short and long term, which makes it an easy reminder when you pull your wallet out to make these upgrades.

Happy sleeping, and as always –

Run Hard, Dream Big!

-          Millennials in Trucking