Partners in Business podcast: Managing your money and time

One of the biggest hurdles in being a successful owner-operator has little to do with what goes on inside the cab or under the hood. Instead, it’s the challenge you face as an independent contractor who has to run a small business, managing thousands of dollars in revenue and costs.

Fuel is the largest variable cost for an owner-operator, meaning the cost varies by miles run. Fixed costs, such as insurance, remain fixed regardless of miles run.

Fuel is the largest variable cost for an owner-operator, meaning the cost varies by miles run. Fixed costs, such as insurance, remain fixed regardless of miles run.

This installment in the podcast series of Overdrive’s Partners in Business, excerpting portions of the manual coproduced with ATBS, covers how to develop and use profit and loss statements, and how to understand your revenue, earnings and costs. It also addresses managing your time, including understanding weekly and monthly cycles, as well as making the best use of all your on-duty hours.

For almost two decades, Overdrive has produced its Partners in Business program to help existing and prospective owner-operators do the best they can as small-business owners. This podcast (at the top of the Business playlist above and embedded below) covers slightly edited chapters from the 2017 Partners in Business manual. It combines the best material from Overdrive magazine with the expertise of the consultants at ATBS, the nation’s largest owner-operator financial services provider.

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To buy the manual, visit the eTrucker.com store.

You can receive a free copy of the manual when attending the free Partners in Business seminars at the Great American Trucking Show, held every August in Dallas. The 2016 program is sponsored by Truckstop.com, Ryder and Goodyear Smart Fleet.

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