In order to obtain good results in your own business it is necessary to be a financially organized person. We recommend that you keep an account for your business and another one for personal use. Get a salary as a driver and use that money as you wish, but do not touch the company’s money, because that’s when the financial problems begin: by spending what you shouldn’t be. The truck is your work tool and as much as it produces money, it requires investing in it to stay in good condition and to be productive. Letting the truck deteriorate is the worst thing you can do, since it will lead towards ruining your producer of money.
You should also understand that during the year there are good months and poor months and you have to move on. A parked truck generates debt. Take advantage of the summer to make money and be more relaxed during the first months of the year. There are companies offering more time at home and many are enthusiastic about the idea until they realize that the money is not enough for the beans. Next, we will give some tips to help you prosper in your business:
– Build a relationship of trust and long-term with a carrier. You probably have not noticed it, but every change of carrier costs you money and, many times, the fault is yours, for not investigating the company where you went to work. Ask about prices, deductions, safety record, customers, routes, frequency and form of payment, etc. Get well informed before signing and do not make hasty decisions so you do not have to start over in a short time. If you can, ask questions of people who work there.
– Understand the behavior of the economy. Avoid entering to pull charges in sectors that are in recession. Look for companies that work with growing industries, that have good clients and that have been in business for some time. Companies in which you see people going to work and leaving fast are not good places to establish a relationship.
– Maintain realistic income expectations and save money for when you work less. Know your expenses and live within your possibilities.
– When you choose a truck check the specifications well so you can get the best out of it. Remember that being an owner-operator is a business and you can use your tool. Do the required maintenance of your truck and make it your money machine.
– Understand and accept that companies will only pay you for the work you do. You will only earn more money if you are willing to work more.