Most of you didn’t get into this business to do paperwork. To file receipts. To spend countless hours punching numbers into a computer. Many of you became owner-operators precisely to get away from such tedium.
Yet the reality of self-employment is that information matters. Many of you confirmed that as you shared operating data for the Overdrive 2004 Market Behavior Report. Those who say they keep detailed records of operating expenses to develop an operating budget have an average net income of $45,000, versus $40,000 for those who don’t do so. Those who keep such records to identify profitable loads or to identify operating problems earn $3,000 more than those who don’t bother.
Taking the first steps toward being a serious business owner who tracks and uses such data can be intimidating for a new owner-operator – and even for veterans of the road. That’s one reason I’m pleased to announce that Overdrive will bring its Partners in Business seminar back to the Mid-America Trucking Show in Louisville. (See Page 49 for details.)
Leading the March 27 seminar will be Kevin Rutherford of The Alliance, an owner-operator financial services group. As a former trucker who still runs a small fleet, Rutherford knows the challenges of making ends meet and the smartest ways to cut costs and to maximize revenue. The hundreds of owner-operators who packed his half-day seminars in past years, picking up tips and asking questions, know just how authoritative and helpful his insights are.
If you’re making the journey to Louisville, I hope to see you at Partners in Business. It’s not as much fun as looking at new trucks, but you’ll learn a lot more.
"There probably should be some minimum standards. But as long as the ...