Partners in Business

The leading business training program for owner-operators.

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Latest Stories: Page 25
Overdrive Extra
Do the hard work to improve the business
There are millions putting in long hours and sacrificing a life for a job, yet few of them truly succeed. They’re working hard – but not doing the truly hard work.
April 8, 2013
Developing strategic relationships, such as with a skilled mechanic, is one of the key challenges in building a successful owner-operator business.
Overdrive Extra
Drive better to save fuel
The biggest bang for the fuel-savings buck is in changing your driving habits.
April 1, 2013
Hills present opportunities for saving fuel by proper acceleration, shifting and use of the boost gauge and the pyrometer.
Overdrive Extra
A tale of two drivers says a lot about fuel use
Industry tests have shown for years that the difference in fuel economy between the best drivers and the worst can be as much as 30 percent due.
February 7, 2013
It’s not unrealistic to see a spread of $16,000 a year in fuel costs between an operator who’s careless with driving habits and one who is diligently monitoring miles per gallon and constantly trying new ways to improve that key measurement.
Overdrive Extra
You can be a change agent
“Look around. Our industry needs help – and I want you to help me make it better.”
January 14, 2013
Participation in continuing education, such as Overdrive’s Partners in Business program, is one way to improve the efficiency of your operation and develop skills you can pass on to others.
Overdrive Extra
Owning a trailer can pay off in more ways than one
Putting the owner-operator in ownership of the trailer drastically reduces maintenance problems, as well as the downtime that comes with them.
December 27, 2012
Overdrive Extra
Plan compliance duties before going independent
It’s easy to look at a load board and dream about getting those rates posted and not sharing them with your carrier. It’s another matter entirely to end up making less than you do now because of all of the additional costs.
November 27, 2012
Operating under your own authority means taking responsibility for tracking miles traveled and the amount of fuel purchased in each state in order to file IFTA forms.
Partners in Business
Don’t overlook cost of a truck wash
If you wash your truck at home, you can claim the cost of household water and detergent for washing the truck as a business expense at tax time.
October 11, 2012
Truckwash2
Overdrive Extra
The hurdles of cash, fees and paperwork
Financial and technical prep — the work is tedious, so consider using companies that will complete the process for you.
September 11, 2012
Before you head off as an independent, you need to take care of insurance and governmental filings, some of which involve fees. You also will need a cash cushion to see you through the initial weeks of waiting for invoices to be paid.
Overdrive Extra
Are you ready to go independent?
Two upsides to getting your authority are the potential to make more money than a leased-operator and the almost complete freedom with how you run the business.
August 7, 2012
One quick way to find potential shippers is to drive around industrial parks and note the names of manufacturers with loading docks.
Overdrive Extra
Financial freedom by age 65
Make sure you continuously update your balance sheet – at least twice per year – to ensure you are meeting your financial goals.
July 2, 2012
The value of your truck is an asset, which improves your net worth. The balance of an outstanding truck loan is a liability, decreasing net worth.
Partners in Business
TRY TO DEPART EARLY. Especially when bad weather p
TRY TO DEPART EARLY. Especially when bad weather poses potential delays, try to depart early. Leaving late gives you no time to recover from an unexpected storm and is the major reason for service failures – such as running out of hours on the morning of a delivery. The Partners in Business program is produced […]
June 1, 2012
Partners in Business
PLAN YOUR TRIP IN ADVANCE. Plan your trip and work
PLAN YOUR TRIP IN ADVANCE. Plan your trip and work out the timing in advance to get the most from your time. Ask for directions to every stop, or use mapping software such as Rand McNally’s Route Tools, ProMiles software or the website www.truckpilot.com. The Partners in Business program is produced by Overdrive and the […]
May 24, 2012
Partners in Business
TRY TO DEPART EARLY. Especially when bad weather p
TRY TO DEPART EARLY. Especially when bad weather poses potential delays, try to depart early. Leaving late gives you no time to recover from an unexpected storm and is the major reason for service failures – such as running out of hours on the morning of a delivery. The Partners in Business program is produced […]
May 17, 2012
Partners in Business
MANAGE COSTS OF TIME TO FUEL. The typical owner-op
MANAGE COSTS OF TIME TO FUEL. The typical owner-operator carries 200 gallons of fuel or more, but buys only 100 gallons at a time and takes about 45 minutes per stop to fuel. Often it saves time to put 175 gallons in the tanks. The Partners in Business program is produced by Overdrive and the […]
May 10, 2012
Partners in Business
PIB TIP: SHOP FOR INSURANCE. Don’t automatically i
PIB TIP: SHOP FOR INSURANCE. Don’t automatically include insurance in the final contract of a truck loan. Shop around beforehand, and you may opt to buy it elsewhere. Also, don’t sign up for credit life or credit disability insurance, which covers your truck payments if you die or become disabled, automatically. You likely can get […]
May 3, 2012
Partners in Business
PIB TIP: CHECK FINE POINTS ON A LOAN. Don’t sign a
PIB TIP: CHECK FINE POINTS ON A LOAN. Don’t sign anything you don’t understand about a truck loan, and get a copy of everything you sign. When trading, don’t sign over the title of your truck until you take delivery of the truck you’re buying. The Partners in Business program is produced by Overdrive and […]
April 25, 2012
Partners in Business
PIB TIP: GET FULL DISCLOSURE. Get full disclosure
PIB TIP: GET FULL DISCLOSURE. Get full disclosure before you sign a finance contract. Make sure that the total price is clearly defined. Truth-in-lending laws do not apply to commercial loans, such as truck financing, so dealers do not have to give full disclosure, but most will do so if they are asked. The Partners […]
April 18, 2012
Partners in Business
PIB TIP: REMEMBER THE WARRANTY. When you are negot
PIB TIP: REMEMBER THE WARRANTY. When you are negotiating for a truck loan, make sure your dealership is able to service your truck and that warranty work and downtime will have the least possible effect on your driving time and miles. Get warranty agreements in writing and make sure you understand them. The Partners in […]
April 13, 2012
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