The recession has been difficult for everyone. Staying profitable is the key to survival and true success in Expediting obviously takes hard work, but it also takes REAL planning.
The recession has been difficult for everyone. Staying profitable is the key to survival and true success in Expediting obviously takes hard work, but it also takes REAL planning.
I can’t think of a better time of the year to sit down and review operations as small business owners. It’s no secret that Owner Operators who have their business plans and objectives in place have a much better chance at success than the Owner Operator that relies on their Motor Carrier Company to handle everything for them.
It’s your business, you are the “Independent Contractor”, so do your homework as the small business owner. Know the difference between your operating expenses and personal expenses or discretionary spending.
As you know by now from reading my column, we specialize in offering Expediting Insurance to Owner Operators and Motor Carriers. I review my OWN insurance for my agency every year to make sure I have the correct coverage at the correct price. I also review my other expenses to decide what is necessary and what is not. Every year try to find ways to run more lean and mean.
As an Independent Owner Operator, review your settlements, your insurance and other expenses to understand exactly what it costs for you to operate per mile. Can you save by adjusting any of these expenses? You’ll feel better when you’re in control of your costs and know that you’ve done everything to can to keep your small business operating profitably.
It’s never too late to review how and where you stand on your expenses. Take a few minutes today to look at ALL your numbers. Make a few decisions, and now you have a plan. Stick to it and earn more in 2010!
