June had some short-term challenges, but also some indicators that the future might be a little brighter. Before we dive into the numbers, I share an experience one of our drivers had that caused an unloading delay. It was a new one that had never happened to us before. We also talk a little about the challenges we faced over the 4th of July weekend. It was a pretty tough weekend.

What To Expect From Episode 182

June was another pretty rough month for us. The good news is that is that the biggest contributing factor was not the market, but some short-term issues that we were able to work through. Let's take a look at the numbers:

• Total miles ran– 94,128
• Deadhead miles– 7,658 (8.1%)
• Total revenue- $219,217.73
• All-in rate-per-mile- $2.33

Haulin Assets had a profit of $152.17. Our saving grace this month was a better rate per mile than we have seen in a long time. Even though it was profitable, it was a negative cashflow month so we need to keep fighting to see a significant improvement to that number.

Here are the Profit & Loss items we discuss in more detail:

• Revenue
• Fuel
• Repairs and maintenance

The most common question I get is, "When is a good time to start a trucking company". In this Episode Craig and I are going to answer that question and the answer might not be what you think. But..... before we get into that, I tell a story about a stressful situation one of our drivers experienced that has a happy ending and gives you faith in humanity.

Starting your own business is never an easy decision. It requires a huge leap of faith and a lot of guts. Most people just are not willing to jump into the unknown like that. I commend you for even thinking about it. The entrepreneurial spirit is one of the biggest, if not the biggest reason the United States is the greatest country in the world. The right time for you to start a trucking company is a very personal decision and I hope this episode will give you some insight to help you make that very big decision.

I think there are different 4 scenarios or "triggers" that when you meet at least one of them you are increasing your likelihood of being able to run a successful operation. The first three are things that are well within your control. The last one is not in your control and I think it is also the one that involves the most risk and most prone to failure. It is also the one that entices most people to make the leap.

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Before we dive into the nuts and bolts of May 2025, Craig and I talk about the crazy weekend we just had. Literally every truck had some kind of significant issue over the weekend. Everything from problems cause by getting loaded more than 24 hours late to breakdowns and blown tires. It is crazy how you can go from one weekend that is quiet with almost no activity to one like last weekend where all hell breaks loose. I also ask for your opinions on how much of an impact hot weather has on tire failure rates.

What To Expect From Episode 180

The ups and downs of trucking are not limited to crazy or mundane weekends, the profitability of trucking is also one heck of a roller coaster. After a better start to the year than we have experienced the last several years, May hit a brick wall. I don't think the difference we saw in May is due to the market, but more because of internal factors we experienced. Let's take a look at the numbers:

• Total miles ran– 99,880
• Deadhead miles– 7,985 (8%)
• Total revenue- $205,682.73
• All-in rate-per-mile- $2.06

Haulin Assets had a loss of $27,150.76. Wow, that was hard to type, that is almost a $75,000 difference between April and May, even though May even had a slightly higher rate per mile. There is A LOT going on in the P&L and we talk about it in more detail than normal. You'll want to listen to the episode to get the full story.

Here are the P&L items we dive into:

• Revenue
  • Low revenue was the largest contributing factor to the loss, we spend a lot of time talking about it
• Fuel
• Repairs and Maintenance
• Taxes

What are the odds that two clutches go out within 24 hours of each other? Can't be high, but we had it happen. Does that mean I should take a trip to Vegas and start placing bets? Our experience with two different shops was night and day. One of them had our truck in and out quickly, the other one was ridiculous. Check out the episode to hear all the fun details.

What to Expect in Episode 179

In this episode I am going to cover 3 things I think every business owner, whether you are an owner operator or you manage a fleet, should do on a regular basis. They are:

1. Look for new revenue sources
2. Review all your expenses to trim the fat
3. Conduct a SWOT Analysis

The first two are pretty self explanatory and we don't take up too much time covering them. I am sure there are several people out there who haven't heard about a SWOT Analysis or know much about them so that is where we spend the majority of our time. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Doing a SWOT Analysis and then using the information you learn from it is a great way to make a big impact on your business.

Craig and I walk through a very simple SWOT Analysis from the perspective of an Owner Operator and use some examples to help show how they are used. They truly are a great tool and I hope you take the info we share and use it to conduct one on your business. Not in business for yourself yet? No worries, it is also a great tool to use to help you decide if there is an opportunity for you to go into business and help you be better prepared when you make the leap. A good SWOT Analysis is a critical element of any business plan.

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Before Craig and I dive into the April 2025 financials, we talk about a fun little adventure I had. It had been a while, but I finally got to jump back into a truck for the first time in several months. This adventure included a Mother's Day departure, several Uber rides, a flight and "breaking" the truck out of a lot at 02:00 in the morning and then "breaking" into the parking lot at the shipper.

What To Expect From Episode 178

April has continued the trend of year over year improvement. Let's take a look at the numbers:

• Total miles ran– 112,158
• Deadhead miles– 7,746 (7.3%)
• Total revenue- $229,695.19
• All-in rate-per-mile- $2.14

Haulin Assets had a profit of $47,211.69. The bottom line number is pretty good, but I think it is a little deceptive. There are some things in the P&L that we expound upon that give a more realistic picture of how things are going. You'll want to listen to the episode to get the full story.

Here are the P&L items we talk about in more detail:

• Revenue
• Fuel
• Insurance
• Repairs and Maintenance

March 2025 was a good financial month, but before we get into that, Craig and I talk about one of our trailers being rejected. It was because of some minor damage that had happened a while ago and hadn't been an issue, so why the rejection all of the sudden? Who knows. I'm also back in the dispatching saddle again. It has been while since I have done that job full time and let's just say, I'm a little rusty.

What To Expect From Episode 177

Last month I said February was a pleasant surprise, March was an even more pleasant surprise. Let's take a look at the numbers:

• Total miles ran– 115,070
• Deadhead miles– 7,746 (6.7%)
• Total revenue- $246,412.65
• All-in rate-per-mile- $2.14

Haulin Assets had a profit of $49,849.00. The best month in over a year and the second best month since March of 2022. I hope it's a sign of things to come. The P&L was pretty normal, but here are the things we talk about.

• Revenue was strong
• Manageable fuel, 27.1%
• No insurance payment

Trucking Insurance is tricky! It is also typically in the top 5 expenses for a trucking company. For Haulin Assets it is the 4th biggest expense. There are a lot of factors that go into getting the best policy and the best pricing. In this episode we go over what you need to know as an Owner Operator or a Fleet Owner to make sure you are keeping that insurance expense as low as possible.

What to Expect in Episode 174

We just completed our insurance renewal so insurance is fresh on my mind and now is a great time to talk about it. Here are some of the topics we discuss.

The Biggest Contributors To The Cost Of Your Policy

1. Your loss run report
2. Your CAB (Central Analysis Bureau) Report
3. Drivers

Who Are The Key Players

1. Insurance Carriers
2. Underwriter
3. Insurance Agencies/Agent

We spend the bulk of the episode in this section and go into some pretty extensive detail about who each one is, what their role is and we give some best practices for how you should interact with them.

What You Will Need To Provide For A Quote

Get everything to your agents 45 days before your policy expires. Here is what they will typically need.

1. 4 Quarters of IFTA Returns
2. Loss Runs for the last 3 years
3. Updated Equipment List
4. Updated Driver List
5. Your Current COI (Certificate of Insurance)

The timing of when you sign on the bottom line and bind your policy is critical. Make sure you listed to the episode to know when you should do this and what you will need to do it.

Getting the best price on your insurance is something that does not happen overnight. It takes you being intentional about several things. You have to work on the things we talk about throughout the episode all year long to make sure to get the best price possible and are able to control your costs. Remember, trucking is a low margin business and profits are earned by the penny. A dollar you save in expense is a dollar that hits your profit line.

February 2025 was a pretty eventful and interesting month. We had a truck get in a little skirmish with a BMW. No one was hurt and the vehicles weren't too bad off either, but it was one of those incidents that really make you scratch your head. We'll share some video on social media, I'd love to hear your opinions. I'll just ask the questions, when merging onto the freeway, how many vehicles can squeeze in front of a truck?

What To Expect From Episode 175

February was a pleasant surprise. I really hope it's an indication of things to come, because I am really getting tired of low profits. Let's take a look at the numbers:

• Total miles ran– 103,728
• Deadhead miles– 6,730 (6.5%)
• Total revenue- $227,885.97
• All-in rate-per-mile- $2.20

Haulin Assets had a profit of $30,707.01. The best month of profits we have had in a very long time and really knocking on the door of being cashflow positive. The P&L is pretty bland, but here are a few things Craig and I talk about

P&L

• Revenue
• Fuel
• Maintenance and repairs