Owner Operators, Keep Your Money In Your Pocket

[Mike]

I wasn't planning on doing a video about this, I just ended up on a rant after trying to briefly mention fuel prices. From there it develops into a rant about wasting money on fuel purchases, factoring, dispatching, compliance, and everything else too many drivers that get their authority and ultimately give all the money they were paying to a carrier and then some back to other companies. It's easy to fall into this trap.

 

[Rigjockey]

I am not an Independent but I think there is some good advice in there about leaving money on the table. As far as factoring dispatching, permits etc,
One company I worked for as a company driver would post the IFTA rates and part of our quarterly bonus was calculated by IFTA costs and savings. So it really made drivers conscious of where they fueled.
IFTA, Fuel economy MPG, safety, etc, Based bonuses Made company drivers act more like they owned the truck. I know it is not the same.

You make some good points about staying leased of you are not committed to running the business independently as far as IFTA and permits etc. Maybe paying for a good accountant could be one justifiable expense.

 

[Uncle Birchy]

I wasn't planning on doing a video about this, I just ended up on a rant after trying to briefly mention fuel prices. From there it develops into a rant about wasting money on fuel purchases, factoring, dispatching, compliance, and everything else too many drivers that get their authority and ultimately give all the money they were paying to a carrier and then some back to other companies. It's easy to fall into this trap.

Dude ya gotta keep your YouTube about 5/6 Minutes..

That's the "Attention Span" nowadays..

When I catch out be "Trucking With Karl" Triumphant Return 2 Industry..

Nonetheless I get Ya about a Nickel here afew Pennies there it all "Adds" Up

 

[Uncle Birchy]

Dude ya gotta keep your YouTube about 5/6 Minutes..

That's the "Attention Span" nowadays..

When I catch out be "Trucking With Karl" Triumphant Return 2 Industry..

Nonetheless I get Ya about a Nickel here afew Pennies there it all "Adds" Up

If ya think 5/6 Minutes YouTube is bad. ..Never opened my Tik-Tok yet ...

There ya got like 2 minutes and their Videos like Flip Phone screen..

@Duck be screaming at me and only last few years I learned lay phone "Flat" sideways..

Guess people on Laptops & Tablets wanna "Full Screen" so ya lay phone "Sideways"

 

[gearjammer]

Maybe paying for a good accountant could be one justifiable expense.

a good accountant is worth their weight in gold

 

[389 Hood]

It always seems their fee is $2.00 less than your 1040 bottom line refund!

 

[mndriver]

Guess I look at things differently..

But that’s unimportant. It’s so far out of the box, most people can’t grasp opportunity costs and what it means.

Sometimes it means paying for factoring or a dispatcher but then you’ll just get badgered for the fact you just gave someone 1.5% of your money.

Forget the fact it allowed you to go do something else that earned you 10X when it cost you.

 

[Uncle Birchy]

I wasn't planning on doing a video about this, I just ended up on a rant after trying to briefly mention fuel prices. From there it develops into a rant about wasting money on fuel purchases, factoring, dispatching, compliance, and everything else too many drivers that get their authority and ultimately give all the money they were paying to a carrier and then some back to other companies. It's easy to fall into this trap.

Does this tie into the one about NATSC vs Pump "Posted" price...

 

[Uncle Birchy]

Like how ya rolled into about chasing "customers" and the off check but ya settled the bad check