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Posts Tagged ‘starting trucking business’
DOT Safety Audit – Passing Your First Audit – Part Two
Wednesday, July 28, 2010
posted by 18 Wheeler 11:43 AM
Hello, Fellow Drivers, This is the sequel to 7/13/10 on passing your first DOT audit. I will start with a list of items the DOT will be wanting to see in your office records and expound on the ones that need further explanation. The key to passing your DOT safety audit is organization and preparation. Let’s start with what records the DOT will be looking through when they pay you a visit. If you would like help with putting your records together for a DOT Safety Audit, please email me at truckersandtravelers@gmail.com. I can also assist you with any trucking authority issues. Below is a list of those records. Enjoy the read and remember to be safe out there!
1. Driver Qualification Files ( includes 18 items that must be in each employee’s file, some of which are listed below)
2. DOT physical and medical card
3. Pre-employment drug testing results
4. Drug consortium membership
5. Logs for the months you have been in operation to the date of the DOT Safety Audit
6. Pro-rate book contents
7. DOT and MC authority granted
8. BOC-3 paperwork
9. Evidence of Insurance on all equipment
10. Leases or hauling contracts
11. HAZ-MAT certification
12. All permits, such as bridge and overweight
13. Registrations on all equipment
14. UCR
15. Additional permits from Kentucky, New Mexico, New York and Oregon if you run through those states with interstate trucking authority
16. IFTA registration
17. Maintenance records on all equipment both trucks and trailers
18. Yearly inspection sheet on all equipment both trucks and trailers
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DOT Safety Audit – Passing Your First Audit – Part One
Tuesday, July 13, 2010
posted by 18 Wheeler 2:38 PM
Hello, Fellow Drivers, I have been looking at your searches recently and many of you have been needing information about DOT Compliance and the first DOT safety audit. I wanted to pass along some helpful information that will give you success in preparing for and passing the DOT Safety Audit. The “new name” for a trucking company that has just received their letter granting them operating authority is called a “New Entrant”. After doing some research, I found these FAQ’s on the FMCSA website. In researching this article, I could not find any “down-to-earth” information that would actually help a “New Entrant” understand what they had to have in place to confidently face this important aspect of your trucking business. In Part Two, I will go into more detail as to what your records should contain to pass the safety audit successfully. Enjoy the read and remember to be safe out there!
- Where will these safety audits be conducted?
The safety audits will primarily be conducted on-site at the carrier’s principle place of business; however, some safety audits may be conducted at other locations. A uniformed DOT officer will show up at your home office (whether in your home or elsewhere) in his blue and white DOT patrol car and conduct an audit of your records. This audit will be conducted after you have received your letter from the FMCSA granting you operating authority. Once you receive your MC number, you must wait for this letter to arrive in the mail before you can legally drive the roads. However, your audit will be conducted AFTER you have received this letter. - When will safety audits be conducted?
New entrant motor carriers can expect to start receiving safety audits 3-6 months after they are granted new entrant registration. My safety audit occurred about three months after I was granted my own operating authority. - Why were these rules created?
Congress required the FMCSA to establish minimum requirements for new motor carriers seeking federal interstate operating authority. These minimum requirements include having the carrier certify that it has systems in place to ensure compliance with the Federal Motor Carrier Safety Regulations, and a safety audit conducted within the first 18 months of the carrier’s interstate operation. - How will the safety audits be conducted?
The safety audit will be conducted by a Safety Auditor and will consist of a review of the carrier’s management system. The areas of review include, but are not limited to, the following: - Driver Qualifications
- Driver Duty Status
- Vehicle Maintenance
- Accident Register, and
- Controlled Substances and Alcohol use and testing requirements.
- Will a safety audit result in a safety fitness determination by the FMCSA?
No. Carriers will either pass or fail the safety audit, depending on their level of compliance and whether they have basic safety management controls in place. Safety fitness determinations of satisfactory, conditional, or unsatisfactory will only result from the completion of a compliance review. - If a new entrant has a compliance review conducted, are they also subject to a safety audit?
No. If the FMCSA conducts a compliance review, the new entrant will not also be subject to a safety audit. However, they are still subject to the 18-month safety- monitoring period.
Living Sensibly – A Trucking Business Success Story!
Monday, July 12, 2010
posted by 18 Wheeler 12:01 AM
Hello, Fellow Drivers, In many of my blogs I have written about running a trucking business sensibly. This means, paying cash or paying off credit cards every month, living within a budget (actually living below your means if possible) and saving for a “rainy day” (an emergency fund). I found an article in Land Line Magazine that tells a trucking business success story with these very principles practiced. Enjoy the read and remember to be safe out there!
Striking Gold Hauling Gas
Wayne Nagel ordinarily delivers five loads of fuel a day, normally within an hour’s radius of Minneapolis. For this OOIDA member, finding the right niche, choosing the right equipment, and trucking smart have paid off.
As Wayne Nagel pilots his buddy’s Cessna 172SP with his wife, Keri, by his side, he soaks in the Minneapolis countryside and all its beauty. Dotted with water, the area lives up to its “Land of 10,000 Lakes” billing, yet Wayne is able to spot many of the roads and interstates where he logs some 95,000 miles per year transporting fuel to various gas stations and convenience stores.
“You get a different perspective up here than you do from behind the wheel,” Wayne said. “It’s peaceful and relaxing. I love being an owner-operator – having my future in my own hands.”
Back on the ground, the 31-year-old OOIDA member pilots a Kenworth T660 with a 38-inch AeroCab sleeper. Leased to the petroleum division of Wayne Transports for the past four years, Wayne distributes gas, diesel and jet fuel in the greater Minneapolis area and throughout the upper Midwest.
Wayne got his first taste of trucking as a college student. One of his best friends bought a truck and offered Wayne the opportunity to drive it at night.
“I went out and got my CDL as I worked toward my college degree in criminal justice during the day and hauled gravel at night.”
After graduation, he took a job with the city of Elk Point in South Dakota, but after six months, he knew the life of a cop wasn’t for him.
“I knew I wanted to be my own boss,” Wayne said. “I liked to interact with people, have a flexible schedule, and be responsible for my own success. I thought trucking would offer that.”
With a game plan in place, he hired on at Wayne Transports as a company driver.
“I felt this was my stepping-stone to learn more about the industry and to help me become a successful owner-operator.”
When he felt the time was right and he had money saved, he bought a truck and leased on to Wayne Transports, which has a mix of company drivers and owner-operators. After paying off that used truck in just 22 months, he upgraded to a Kenworth T660, purchased through Rihm Kenworth in St. Paul.
“I wanted a new truck that was great looking, but also aerodynamic for better fuel economy,” says Wayne. “When I went into the dealership, I was there just to look, but when I walked out I was sold. I knew the T660 was what I wanted.”
Wayne says he got a good price on his trade-in, so in April 2009 he ordered a new KW. He spec’d the T660 with a 500-hp Cummins engine, with an Eaton UltraShift 13-speed transmission.
“Those specs give me enough power, plus they will help come trade-in time with higher resale value,” he said.
Wayne had Rihm’s body shop install a 10-inch drop chrome visor, stainless steel kick panels, custom toolboxes and WTI fenders. Inside, Wayne added aftermarket chrome instrument displays and a 30-inch flat screen TV in his bunk.
He entered the Paul K. Young Truck Beauty Contest at this year’s Mid-America Trucking Show and enjoyed the competition, especially the compliments on his truck. Wayne placed second in the division for first time exhibitors, combo class.
“Everyone loved the look of the truck, and Wayne Transports asked me to represent the company by exhibiting at the Minnesota Petroleum Marketing Convention, which was held in April,” he said.
While short hauls get him home at night, Wayne will make the occasional long run to regional airports in the Midwest, hauling aviation fuel.
“Running full, I’ll average about 7 mpg at 65 miles-per-hour, running between 1450 and 1550 rpm. Running empty to Louisville when I went to MATS, I averaged 7.7 mpg.”
One key to better paychecks, he said, is a can-do attitude.
“As an owner-operator, I can pick and choose when and where I haul, but to be truly successful you need to be reliable and a can-do operator for your company. You want them to depend on you,” Wayne said.
“In some cases, that means taking a load you don’t want or working a day when you don’t want to. Over the long run, it’s paid off for me.”
Wayne also sticks to a strict plan on his cash flow and reserves.
“I pay my credit cards off every month, I don’t get overextended, and I keep a rainy day fund for the unexpected,” he says.
This strategy has allowed his wife to be a stay-at-home mom to their three children. It has also provided extra cash to put a down payment on a rental house, which generates additional income.
“We’re doing well,” says Wayne, as he lands the Cessna. “If you work hard and have the right business sense, good things can happen.” LL
Hello, Fellow Drivers, I wanted to take a few moments to talk about getting started in the trucking business. Some of you have commented that now is the best time to get a loan to start a trucking business. While there is nothing wrong with borrowing money, it puts you at the mercy of the lender. For instance, a typical truck and trailer loan will run an average of $2000 to $3000 per month, for about six years, depending on the type of rig and trailer you purchase. That’s a lot of moolah to earn on the road, not to mention the fuel, maintenance and road expenses you also will incur. After owning my own trucking business for over 7 years, my suggestion is to start your business with some cash in the bank. In other words, if you borrow the money for the rig, have three to six months of cash in the bank to run on until you are earning a steady income.
Some of the comments from my readers entail borrowing money against your house, since interest rates are at an all time low (in some cases 3.5%). I have been an entrepreneur for over 20 years and for almost 4 of those I managed a branch office for a major mortgage company. Armed with “insider” knowledge of mortgage loans, my suggestion is to save up cash until you have a 3 to 6 month cushion in the bank (the more months saved the better). Avoid borrowing against your most valued asset, your home. For most hard-working Americans, this is their most valuable asset. Keep it that way by leaving the equity in it. I am also a real estate investor. Before the real estate crash, I was able to purchase over $2 million in properties with no money down. While that made me feel like a big shot, it put me in a leveraged position, leaving me vulnerable to my lenders. I have been fortunate to be able to manage my properties well, but that is not the case with many investors. My suggestion again, is to not leverage yourself to the point of vulnerability. There is an old saying the finance world: CASH IS KING! That saying will always ring true, no matter what the interest rates do. The more liquid you are, the more power and freedom you will have in your business.
Some of you will go ahead and borrow to the hills to get started in a trucking business. You will also be wishing about 12 to 18 months into that leveraged position, when the loads are slim, that you had been more liquid. You will have to stay out on the road until you meet your obligations, whereas if you were more liquid, you could enjoy more down time. It is my wish that this blog has caused my readers to at least pause and think about the cost of debt.
If you would, take some time to read my three-part blog dated 6/5/09, 6/8/09 and 6/9/09 on starting a trucking business. It will give you valuable information about preparing before you venture out as an entrepreneur. Enjoy the read and remember to be safe out there!
Six Secrets To Success In Your Trucking Business Home Office Part 2 of 2
Tuesday, May 25, 2010
posted by 18 Wheeler 12:05 AM
Hello, Fellow Drivers, For those of you running a trucking business home office, here is the second part of an interesting article on improving efficiency in a home office. Enjoy the read and remember to be safe out there.
4. Block Your Time
Designate time for priority activities by blocking it out on your calendar. I commit myself to classes at the gym by putting three on my calendar every week. I don’t schedule phone calls or meetings at those times, so I have no excuses not to go. I schedule calls with people on email and Facebook, instead of playing phone tag so I know when I’ll have time to concentrate on larger projects without the phone being a constant interruption.
I also want one afternoon a week to spend with my family when I do not have to work. I work only a half-day on Fridays to take my family our for a fun time. Friday afternoons are light work days and usually unproductive due to exhaustion. I’m in need of a break, and so is my family. I don’t schedule anything on Friday nights because that’s family time to have a quiet evening at home. Nothing goes on my calendar on Friday after lunch.
5. The Rule Of One
Stick to this rule with yourself and with family members who need your time in one of their activities. I only sit on one non-profit board at a time. I belong to only one book club at a time. I say “No” to things that do not really interest me. No one seems to mind or label me a neglectful parent, and everyone seems very happy to accept my financial contributions and presence when I am able to arrange it.
I keep errands located downtown on the same day (lunch meeting, nail appointment, store return, tailor) so I am only running errands one time per week rather than taking an hour out of my day, every day. If I have a board meeting or lunch with a friend, I schedule no other out-of-the-office time that day. My workout has to be the next day, and my dentist appointment has to be the day after that. That way, I can still be productive for 5-6 hours a day, rather than have any particular day end up a complete waste.
6. Invest In Others
Make an effort to get to know one new person each week. Pick the person who always smiles at your or whom you always say “Hi” to but aren’t quite sure what her name is. Really ask her about herself and take ten minutes to learn her story. She might be the person who ends up inspiring you the most. you might learn that she also takes care of aging parents, or that her husband is overseas, or that she is the marketing director for some huge company. Take inspiration from the stories you hear and remember that we are all busy–it’s about how you handle the buey-ness, and business, of life that matters.
Hopefully you took some tips from this busy entrepreneur that will help you in your trucking business. Remember, be proactive about all aspects of your business and have the courage to look at areas of improvement and make the necessary steps in insuring the changes are made. You will see your trucking business go to new heights because you spent some time and effort toward your success!
Six Secrets To Success In Your Trucking Business Home Office Part 1 of 2
Monday, May 24, 2010
posted by 18 Wheeler 9:37 PM
Hello, Fellow Drivers, I came across a great article in the May 2010 issue of the Home Business Connection magazine by Ann K. Levine. The magazine is filled mostly with junk ads, but this article seemed to fit those in the trucking business who have a home office. This bit of trucking industry news will hopefully help you run your trucking business home office with greater efficiency. I have condensed the article for time’s sake. Enjoy the read and remember to be safe out there.
There are six secrets to managing your home office. These tips will help you manage your life in a way that allows you to enjoy what you do. Here are the first three tips.
1. Delegate
Figure out what needs to be done by you and what can be done reasonable well by someone else. I do not need to be the person who returns things to stores and runs to the drug store. I found a great errand-running service that helps me grocery shop and take items to the tailor and dry cleaner when I do no have the time. Find a friend who wants to make extra money that will run some errands for me to free up my time for more important tasks like quarter-end reports.
If you don’t have the money to spend on this kind of help, find a friend who always does Costco or Target runs and ask them to pick up a few things for you and agree to return the favor.
2. Use The Stopper
do you feel like time runs out of your day like water down the bath drain? find the leak and stop it. Evaluate where you are wasting time and just delete it. I used to complain I had no time to get to the gym, but I knew I was spending an hour and a half each day on Facebook and Twitter, and probably another thirty minutes browsing for things I couldn’t afford (or just flat out would never buy) online. I cut myself off from these activities for a week and found I could return and just spend 20 minutes a day on my online activities. Facebook and Twitter are work-related for me, so I can justify that investment. With the “extra” time, I actually make it to Pilates class twice a week.
I also decided–after three seasons of dedication–to forego Grey’s Anatomy so I could have time to read and participate in a book club with a group of dynamic, inspiring women. I’m even considering giving up American Idol this season!
3. Retain Focus
During my busy season with work, I schedule myself according to what I can handle so I can avoid feeling overwhelmed on a daily basis. No more lunches or coffee dates with friends. Unless someone wants to go along on my weekly three-mile fun, my friends know to count me out of thing three months out of the year. I make up for it by taking them out for really nice dinners on their birthdays, and I try to say hello on Facebook– but I make no plans.
I protect my schedule so I can focus on work when I need to be working. I do not schedule routine doctor appointments for me or my family during my busy months. Also, I never schedule workouts or meetings for the non-profit board that I chair on Mondays because I anticipate that I’ll have more emails and phone calls waiting for me after the weekend.
Whether you take one or more of these tips to running a trucking business home office, use them consistently and you will see increased success. Look for Part Two of this article in tomorrow’s blog.
Hello, Fellow Drivers, It can be a daunting task to get trucking authority. The first thing to know is what type of authority you will need to obtain in order to start your trucking business. Below is a brief explanation of the two types of trucking authority and broker authority. Enjoy the read and remember to be safe out there!
There are two Types of Interstate Authority For Trucking Companies: These two types allow a driver to haul loads across state lines. INTRAstate authority allows a driver to conduct business within your home state only. This is the first step toward starting a trucking business.
COMMON Authority- Liability & Cargo Insurance are required to be filed with the FMCSA.
CONTRACT Authority- Liability Insurance only required to be filed with the FMCSA.
BROKER Authority- only required if Brokering loads for other Trucking companies. This type of authority would be used to find loads for drivers that are looking for someone to get loads for them.
For more information, look over the Federal Motor Carrier Safety Administration website. It has recently been revamped and is chock full of valuable information. Here’s their website: www.fmcsa.dot.gov
Hello, Fellow Drivers, Some of you are thinking about getting your own trucking authority and going out on your own to earn more money. It’s a worthwhile endeavor but must be entered with wisdom, fore thought, and planning. Below are some frequently asked questions about how to get trucking authority. Enjoy the read and remember to be safe out there!
Trucking Authority Questions
Q. What is an MC Number?
A. An MC number is issued by the FMCSA (Federal Motor Carrier Safety Administration). It grants the right to commence operations in interstate commerce in the transportation industry. There are several factors involved in obtaining an MC number including a USDOT number, BOC 3 Process Agents, and insurance.
Q. What is a USDOT Number?
A. A USDOT number is issued by the US Department of Transportation. It tracks all your company’s information with the different Federal and State Agencies. A USDOT number does not constitute authority to operate in interstate commerce.
Q. What is a BOC 3 Process Agents?
A process agent is someone who may be serviced with court papers in any proceeding brought against a motor carrier. In order to obtain your authority this requirement must be met.
Q. How much insurance do I need?
A. The Federal Minimums for insurance coverage is: $750,000 Liability and $5,000 Cargo. However, the industry standard and recommended coverage is $1,000,000 Liability and $100,000 Cargo coverage.
Q. How long does it take to get trucking authority?
A. It generally takes a carrier 5 to 7 weeks to obtain all the authority and permits required to operate in Interstate Commerce. There are 2 parts to the process: federal and state. The federal portion generally takes 16 business days to complete and then state permits can take an additional 2 weeks after the federal portion is complete.
Q. How much does it cost to get trucking authority?
To get trucking authority depends upon if you hire a company to do the whole process for you (which can be very expensive) or if you do most of the steps yourself and save yourself a lot of money.
Q. What is UCRA?
A. The Unified Carrier Registration Agreement states that all motor carriers, regulated, exempt and private as well as interstate brokers, Freight Forwarders and leasing companies are subject to the fees under the UCRA. Fees are calculated per company based on the number of commercial motor vehicles it operates. Commercial motor vehicles include the total number of trucks, trailers and power units operated by the company. The table below contains the fee schedule that a company would be subject to based on their fleet size:
| Fleet Size | Fee |
|---|---|
| 0-2 | $39 |
| 3-5 | $116 |
| 6-20 | $231 |
| 21-100 | $806 |
| 101-1000 | $3840 |
| over 1000 | $37500 |
Q. What is IRP?
A. The IRP stands for International Registration Plan. This covers the apportioned tags for your tractor. The contiguous 48 states plus Canadian Provinces participate in the program. You must register with your base state and select the states that you wish to operate in the current or coming year. This must be renewed annually and has a prorated annual fee. Only vehicles over 26,000 Gross Vehicle Weight participate in the program. The annual fee range is $800 – $2500.
Q. What is IFTA?
A. IFTA stands for International Fuel Tax Agreement. It is a means to pay fuel taxes to the different participating states and provinces by registering and filing quarterly returns with your base state. Only the contiguous 48 states, plus Canadian Provinces and vehicles over 26,000 Gross Vehicle Weight participate in this program. Registration for the program is generally free but some states may charge a registration and decal fee that usually costs under $30.
Q. What is Intrastate Authority?
A. Intrastate authority is the right granted by a state to commence for hire trucking operations within the borders of that specific state. If a load’s origin and destination are within the same state then intrastate authority may be required. This generally takes less time to acquire than the interstate authority as only one government agency is required to issue permits. Also a company engaged only in intrastate activities does not need to register with the IFTA or IRP.
Q. What states require special permits?
A. Four states have special permits that are required to operate within their borders. You can register for these permits upfront or acquire trip permits. The states are New York (HUT), Kentucky (KYU Number), New Mexico, & Oregon (File Number). Depending on your operations you should consider registering for some or all of these states as most have a low registration fee of $15 or less per truck.
Q. What is a New Entrant Safety Audit?
A. A New Entrant Safety Audit consists of a review of the carrier’s safety management system conducted by a State or Federal Auditor within the first 18 months of operation. The areas of review may include: Driver Qualifications, Driver Duty Status, Vehicle Maintenance, Accident Register, and testing requirements for Controlled Substances and Alcohol use.
Q. When can I expect a New Entrant Safety Audit?
A. Every new carrier will be audited during the first 18 months of operation (typically within 3-6 months after the carrier is granted their new entrant registration). The safety audits will mainly be conducted on-site at the carrier’s principal place of business. However, some safety audits may be conducted at other locations depending on the circumstances.
Trucking Industry News – Your CDL & Blood Sugar Levels
Monday, April 19, 2010
posted by 18 Wheeler 4:36 PM
Hello, Fellow Drivers, I saw this article in the latest Land Line Magazine and thought it newsworthy. The bottom line in trucking is that without good health, you won’t make any money. You will feel too sick or too tired to make your trucking business successful without exacting a heavy price from your body. Check out this article about the importance of blood sugar levels and your DOT medical card. This is definitely trucking industry news you want to check out for yourself. If any of you drivers would like to see specific trucking related issues answered, please don’t hesitate to contact me. I will be happy to research the question and get back with you. Enjoy the read and remember to be safe out there!
Trucker MD
Why the A1C test for drivers? – Understanding your blood sugar level is important for your CDL and your long-term health
By John McElligott, MD
Land Line contributor
Suppose a driver goes in for a DOT exam and his/her urine specimen indicates sugar “spilling” on the routine test. What does this mean?
The normal kidney can hold up to a 300 mg percent rise in blood sugar without spilling sugar into the urine. If sugar is detected in that urine specimen, here’s what happens next.
Usually, a medical examiner will order a “finger stick” to determine the blood sugar level. If the test comes back with a reading of 160 mg percent or higher, then the driver is diagnosed with new onset diabetes mellitus or uncontrolled diabetes that needs better treatment.
Such a diagnosis can lead to loss of a professional driver’s DOT medical card or a three-month medical card.
The driver must see his doctor – if he has one – and be treated or have his medication adjusted.
Then the driver must demonstrate to the DOT examiner (soon to be “certified medical examiner”) that his blood sugar is being treated. It must also be demonstrated that the driver is compliant with follow-up and is taking medication for his disease.
Here is where the A1C test is going to be a life-changer for professional drivers.
The number that most of us DOT medical examiners look for is an average blood sugar of 160 or less. But how do we find the average blood sugar when we have only three months to demonstrate compliance?
The answer is a test called “hemoglobin A1C.” This test measures the glucose found in the red blood cells. It just so happens that the human red blood cell lives for 120 days, so we can measure the sugar in it.
DOT medical examiners now have either instant A1C in office test or, at worst, a two- to three-day send-out test.
The good news is that the A1C instant test done at the time of a DOT physical can save your ticket to the dance. It provides enough information to put your average 90-day blood sugar into play, which could counteract the test for sugar in the urine and the finger stick, both of which are a snapshot in time.
So what else do you need to know about the A1C test?
- Make sure your examiner uses the instant A1C test to help you stay on the road.
- If you are diabetic, never eat before going in for a DOT medical exam.
- Take your medicine on a regular schedule.
- Get an A1C test from your doctor at least three months before your DOT exam is due and keep a copy to show the examiner.
- If your test shows that your average blood sugar is well-controlled, then continue the same routine every year.
Remember: Medication alone does not treat diabetes. The cornerstone of treatment is diet and exercise. LL
Editor’s note:John McElligott is an M.D. and Fellow of the American College of Physicians.
Trucking Business Tidbit – Debt is Evil Because… Part 2 of 2
Thursday, March 11, 2010
posted by 18 Wheeler 12:05 AM
Hello, Fellow Drivers, Today I want to finish up with this two-part blog about debt. For all the drivers that want to start a trucking business or want to prosper even more in their present trucking business, here are some more tips from Dan Kennedy’s book, “Wealth Attraction For Entrepreneurs”.
Wealth Magnet 19 – Independence
Debt is EVIL because…
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Every dollar you being in is instantly diminished in value by its need to contribute to servicing your debt.
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It compels you to do things you would otherwise not do. Debt produces need. Need is completely counter-productive.
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It leaves you vulnerable to Short-term competitive or marketplace challenges,, economic slumps, aberrant events (e.g. 9/11), etc. that you might otherwise painlessly withstand.
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It is habit-forming. it is easy to get good at juggling debt, comfortable living in debt. You can get so good at survival skills that they are in the way of developing success skills.
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It is a source of worry, anxiety, and frustration that interferes with wealth attractions, productivity , and even physical health.
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It lengthens the time required to get to your Financial Independence Number, sufficient assets and investments that you never need work or earn another dollar for the rest of your life.
Everybody needs to be cautious of need. After all, if you ask most people why they go to work in the morning, they say, “to pay bills.” Very high income people say the same thing. And they are still slaves, just better dressed, because they are working for debt.
Entrepreneurs need to be especially cautious of expanding need by piling on employees, infrastructure, overhead, people, places, and things. bigger is not necessarily better. More gross may not only produce less net but also may move you from master to slave before you realize it.
Whether through debt-reduced or debt-free living, other strategies, psychological techniques, or all of the these things, I can assure you that the less you need the next deal, the next sale, the next client, or the next dollar, the easier it will be to attract all the deals, sales, clients, and dollars you could ever desire or imagine, times ten.
I hope you enjoyed the blog and that you come away with useful information for you trucking business. Remember to be sage out there!