Six months ago, we posted a series of blog posts about your trucking business – in particular, writing a business plan for your owner-operator trucking company.
Did you do it?
Setting Trucking Business Goals
Are you seeing your company moving toward your business goals?
Six months after setting your goals is a nice time to look at those goals again. You’ve had some time to adjust how you run your business. Maybe you have changed which loads you’ll take or what you won’t. Maybe you’ve made other decisions
- changed your routing program from Google Maps to PC*Miler
- found a better invoicing program that keeps track of slow pay customers
- got a better maintenance scheduling software.
Some of those aren’t obvious decisions to make – why switch from Google Maps? Does it make a difference? Slow pay customers? You still get paid.
It’s less about how one thing makes a difference and more about how doing several things has a big, total impact.
Building Your Trucking Business
Building your trucking business isn’t an overnight deal. You work hard to succeed in any business and trucking is no exception. There are lots of moving parts (yeah, I did that pun) and mastering all of them isn’t something you do right away.
One of the most important parts is knowing your cash flow.
Learning how to manage cash – and credit – is key to building your trucking business. We talked about the Profit and Loss (P&L) statement and cash flow statements and how you should be aware of your financial position. If you get nothing else from the business plan series, that’s the key point you need to know to make your business succeed.
Maybe right now, your money flow is good. After all, there’s a lot of shipping during the summer months. Putting money aside to create an emergency fund or investing in keeping your rig in the best possible shape is the action of a good trucking business owner.
What Tools Do You Use as a Trucker?
Using the right tool to secure a load is can be the difference between a good delivery and a mess in the trailer. Using the right tool in your trucking business is the difference between success and failure.
Money is also a tool. You use it to build your trucking business, support your family, and save for your future. But like the tools you have protected in your tool box, keeping your money in the right place to help your business plans protects your future.
It’s been six months – how are you doing? If you didn’t set any goals in February, there’s no reason you can’t do it now.
Let us help you with TruckingOffice TMS – the tool you need to manage your trucking business. It will help you track all the expenses and all the income – and give you a clear financial picture of your future.
Don’t depend on a Magic 8 ball to predict your trucking business future. Use TruckingOffice and make it happen.