If you’re working a business plan for your trucking business, you’re already ahead of most trucking companies. If you’re achieving your goals, pat yourself on the back and think about this: many trucking companies are struggling right now. Having goals that keep you on the road is a sign of success. But what if your trucking business goals are already met? What do you do now?
Need fresh targets? Our goal setting for truckers guide shows how to set measurable ones.
Goals and the business plan work together. When the year wraps up, walk through your end of year trucking business plan review to decide what’s next.
It’s a good problem to have.
Meeting your trucking business goals early means it is time to reset the goals, not stop working the plan. Congratulate yourself first, then revise the targets you set too low, attach rewards to a set of stretch goals, and use your Trucker Stats™ to decide whether new equipment, new training, or new opportunities — like your own trucking authority or a brokerage — is the right next step.
Trucking Business Goals
If you spent the time to set your trucking business goals, you probably are also taking the time to review them. Right? You’re looking at what you’ve done and hopefully are surprised at what you’ve found.
We recently reviewed some work we started a year ago. Nobody expected to see the changes we found! Six different metrics have moved from “Uh oh, we gotta do something” to “WOW! Did you see that?”
It’s easier to be surprised when you don’t check your goals frequently. However, it’s not ideal when discussing your trucking business goals. Checking them regularly tells you if you’re on track – or not.
There’s this idea out in the internet that if you write your goals down, you’re more likely to achieve them. Then there are studies that say writing down goals doesn’t help you get there. We don’t have much opinion about the do/don’t argument, but if you’re spending time writing them down, it only makes sense to check and see how you’re doing.
So What If You’ve Met Your Trucking Business Goals?
First, congratulate yourself! Even if you didn’t realize it while you were working – you still did it and deserve the praise – and a reward.
Second, after you’re done celebrating with whatever your preferred beverage is, give some thought to these two things.
Resting on Your Laurels Is Fine — Now Think Bigger
Reset or revise your goals.
You may have set your goals too low and revising them will help you build on the work you’ve already accomplished. Already paid off a loan? Hit your revenue goal for the year?
Then consider expansion.
- a. New equipment
- b. New training
- c. New opportunities
Maybe it’s time to get your own Trucking Authority. Or maybe you can expand your business by becoming a broker.
Underestimating Your Trucking Goals
When first setting goals, it’s easy to underestimate what you can do in a year. That’s why Trucker Stats™ are critical to your trucking business success. You need the metrics to determine success or where work is necessary. If you’re seeing the revenue you want, it can be easy to ignore the expenses that could be trimmed. TruckingOffice PRO’s Company Overview Report shows Trucker Stats™ for your entire company, but it can also be more specific. Which trip? Which week? Which driver? What equipment? TruckingOffice PRO’s Company Overview may be a high view, but using TruckingOffice’s reporting features, you can drill down into the depths of your trucking company’s finances.
Then you can make the next goals.
What to Do Now?
You’ve put in a lot of thought into your trucking business goals. Don’t throw that all away!
Don’t redo the work, but reset your goal’s time structure. If you did this well in less than a year, what could you do in a year? Many people reset their trucking business goals like New Year’s Resolutions – year to year, January to January. But this isn’t a law! You can reconsider your goals at any time and set any timeframe on them that works for you.
You know about Kickstarter? Fundraisers may set intermediate goals to help encourage donors to give. But they’ll also set Stretch Goals – additional awards or actions that the fundraiser will do if the financial support exceeds the goals.
Set Your Own Stretch Goals
A stretch goal is an extra target set above your original goal, with a reward attached to reaching it. Kickstarter fundraisers use stretch goals to encourage donors to keep giving after the main goal is funded. In your trucking business, the stretch goal is motivating you instead of a donor.
Take a look at your Business Plan with an eye at Stretch goals.
Apply Kickstarter rules: reward yourself for achieved goals.
- 10% more – reward yourself with an improvement to your rig.
- 25% more – reward yourself with a home improvement.
- 50% more – go on a vacation!
These stretch goals aren’t motivating donors – they’re motivating you. You decide what makes you want to work harder and then watch what happens.
TruckingOffice PRO and Trucker Stats™ Will Help
You can try TruckingOffice PRO TMS – trucking software – for a free trial today. Go ahead and sign up – then use it to upload your Rate Cons automatically, enter your expenses with our new Expenses Reader (which even reads handwritten receipts), and take some time to find your Trucker Stats™. Do it for free with a free trial to discover what your trucking business goals should be!
Trucking Business Goals FAQ
What should you do when you meet your trucking business goals early?
Congratulate yourself first, then reset or revise the goals. You may have set them too low, so revising builds on the work you have already done. After that, consider expansion: new equipment, new training, or new opportunities such as getting your own trucking authority or becoming a broker.
What is a stretch goal in a trucking business?
A stretch goal is an extra target set above your original goal, with a reward attached to reaching it. Kickstarter fundraisers use stretch goals to encourage donors after the main goal is funded. In trucking, the stretch goal motivates you: reward yourself with a rig improvement at 10% over goal, a home improvement at 25%, and a vacation at 50%.
How often should you review your trucking business goals?
Check your goals regularly rather than waiting to be surprised by the result. Checking them frequently is what tells you whether you are on track or not. If you spent the time to write goals down, it only makes sense to check how you are doing against them.
Do trucking business goals have to run January to January?
No. Many people reset trucking business goals like New Year’s resolutions, year to year, but that is not a law. You can reconsider your goals at any time and set any timeframe that works for you. If you hit a goal in less than a year, ask what you could do with a full year instead.
How do Trucker Stats help you set your next trucking goals?
Trucker Stats™ give you the metrics that show where you are succeeding and where work is still needed. Strong revenue can hide expenses that could be trimmed. The TruckingOffice PRO Company Overview Report shows Trucker Stats for the whole company, and the reporting features let you drill down by trip, week, driver, or piece of equipment.
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