Haulin Assets

#71. Go On the Offensive

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John Steinbeck said: "The purpose of fighting is to win. There is no possible victory in defense...The sword is more important than the shield and skill is more important than either. The final weapon is the brain...All else is supplemental."

What To Expect From Episode 71

I recently stepped into a new role in the Utah Army National Guard and the process I take when I start a new role got me thinking about two things, using your brain and going on the offensive. In this episode Craig and I dive deep into how using your brain and having an offensive mentality can have a positive impact on your business.

Impact Tip

Establish an emergency fund. How much depends on you and your business. I think $10,000 for your first truck is a good start. As you grow you probably don't need as much per truck because the chances of having two trucks needing a major repair at the same time is slim. I explain this concept a little better during the episode, so be sure to listen. 

#70. January 2021 Financials

January was another pretty good month. Mike was on the road more days than ever before, and you can see he was able to get in a pretty good number of miles. Listen to the episode to hear all the details.

What To Expect From Episode 70

Here are the numbers for the month.

• Total miles ran – 12,929
• Deadhead miles – 451 (3.49%)
• Total revenue - $25,575.32
• All-in rate-per-mile - $1.98 (Not as good as December, but pretty good for a January)
• Full days on the road - 25 (Busiest month ever)
• Partial days on the road – 4

In the end Haulin Assets realized a profit of $6,554.69.

Impact Tip

Be intentional about what you do with your money. Every dollar needs to have a purpose. You have a certain amount of money set aside for fuel, a certain amount for maintenance and repairs, a certain amount you pay your drivers and if you are an O/O, you should pay yourself a certain amount. One of my biggest pet peeves is when business owners use their business as a personal piggy bank. It’s a terrible practice.

#69. Big Changes Coming

There are some exciting changes coming to Haulin Assets.

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What To Expect From Episode 69

Haulin Assets has been pretty stagnant for the last year. So what is the problem? It's me. With everything I have going on, I just don't have the time, and if I am being honest with myself, the energy to do what it takes to make it grow. There are two common ways to solve that problem. I could hire someone to run and manage the business or I could bring on a partner. We chose the partner route for a lot of different reasons. Listen to the episode to find out why we decided to go the partner route and what the partner we chose brings to the table.

Impact Tip

Be careful with merchant cash advances. They can really blow up in your face. They look like a loan, but technically are not a loan so there are not many rules and regulations protecting you. Listen to the end of the episode to learn a little more about them, including how to recognize them.

FMCSA On-Duty Not Driving Yard Moves

The FMCSA is proposing a change to the yard move HOS rule. I like the changes and give my opinion at the beginning of the podcast. The comment period ends on February 3, 2021. Go to this link and tell the FMCSA what you think https://beta.regulations.gov/document/FMCSA-2020-0118-0001

Here is the comment I submitted: I think yard moves should be any move on private property that is less than 20 MPH. It would also be fair to include public roads adjacent to private property. It is common to be parked on a public road that is used exclusively for access to a private shipper or receiver as you wait for your turn to be loaded/unloaded. It would be nice to be able to use yard move as you drive from your parking spot to the dock where you will be loaded/unloaded, as long as you can safely maintain a speed less than 20 MPH. The private property would also include truck stops so you can move from the fuel island to a parking spot without using drive time.

#68. December Financials

Check out the full show notes and drop a comment at HaulinAssetsLLC.com

December was a great way to end a very challenging year; it was one of our best months of the year. Numbers all looked really good and there wasn't much out of the ordinary happening. Listen to the episode to hear all the details.

What To Expect From Episode 68

Here are the numbers for the month.

• Total miles run – 8,719
• Deadhead miles – 481 (5.5%)
• Total revenue - $21,400
• All-in rate-per-mile - $2.45 (Best we have ever had)
• Full days on the road - 15
• Partial days on the road – 3

In the end Haulin Assets realized a profit of $6,040.36.

Impact Tip

Don't use your checking account balance to decide if you’re making money or have money to spend. This is a huge mistake, listen to the episode to find out why and learn more.

#67. Introducing Impact Tips

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I'm going to start including what I call an Impact Tip of the Episode with every new podcast episode. I am hoping to share a simple tip that can be summarized in one sentence, but will be something you can implement in your business that will have a positive impact on it. In this episode Craig and I will introduce the concept.

What To Expect From Episode 67

For a while, the Impact Tips will focus on finances. Finances are the foundation of a business. If your financial situation is weak, at best, the business will never reach its full potential, at worst, the business will eventually go under.

I feel like the first tip is so important, I am going to focus an entire episode on it. Here is the tip:

Impact Tip

Make sure your personal finances are in good shape before you start a business.  I know, this sounds like a no brainer, but listen to the episode and I bet you will learn about ways your personal finances affect your business that you'd never thought of.

#66. November Financials

I want to go back to an average month, Novembers are not very kind to me. We had some issues in November and experienced our second month with a loss. It was a bit of a perfect storm, a lot of things happened. Listen to the episode to hear all the details.

What To Expect From Episode 66

Here are the numbers for the month.

• Total miles ran – 7,490
• Deadhead miles – 295 (3.9%)
• Total revenue - $14,625.31
• All-in rate-per-mile - $1.95 (Skewed low because of a 5 day load that delivered on 12/1)
• Full days on the road - 13
• Partial days on the road – 3

In the end Haulin Assets realized a loss of $2,717.11.

Check out the full show notes and drop a comment at HaulinAssetsLLC.com

#65. American Association of Owner Operators

Check out AAOO here: https://aaofoo.com/MCHQ

In today's episode, Chris and Craig interview David and Kyle from AAOO, the American Association of Owner Operators. Together, they talk about what truckers can do on the road to better themselves both professionally and personally.

 

Check out the full show notes and drop a comment at HaulinAssetsLLC.com

#64. October Financials

Another average month. Revenue was actually higher than normal, but net income was about average. There were some higher expenses than normal. We'll go into some of the details.

What To Expect From Episode 64

Here are the numbers for the month.

• Total miles ran – 11,694
• Deadhead miles – 443 (3.7%, I think a record low)
• Total revenue - $23,550.01
• All-in rate-per-mile - $2.01 (About like last month)
• Full days on the road - 19
• Partial days on the road – 6

In the end Haulin Assets realized a profit of $2,631.57.

 

Check out the full show notes and drop a comment at HaulinAssetsLLC.com

#63. Don’t Succumb to Temptation

Making good money can be a blessing, but it can also be a curse. I have seen too many people in my career who have become blinded by a little early success and then ending up getting themselves into a lot of trouble. Craig and I talk about not falling into temptation when rates are really good and you are making good money so you avoid some pitfalls that commonly mean the end of companies that were once successful.

 

Check out the full show notes and drop a comment at HaulinAssetsLLC.com

#62. September Financials

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In addition to talking about financials, we talk about adding a truck. I'm about 90% sure I am going to do it, so I have started to look for another truck, trailer and driver. Craig and I talk a bit about that.

What To Expect From Episode 60

Here are the numbers for the month. September was an average month and that is perfectly okay with me.

• Total miles ran – 10,145
• Deadhead miles – 687 (Two months in a row that it was low)
• Total revenue - $20,720.01 (Funny we keep ending on $0.01, listen to the episode lot learn why)
• All-in rate-per-mile - $2.04 (Hope we can do that every month)
• Full days on the road - 19
• Partial days on the road – 5

In the end Haulin Assets realized a profit of $3,054.35.