I'm in my pre-trip mindset
In prepping for MATS I’ve been reviewing previous writings, observations and trying to ask individuals what it is that you are looking for? 🤔It’s about more than numbers too me.
What I've learned in the previous 20 years of mentoring and now Beyond Mentoring!
Is that the landscape has shifted. Previously I've received calls from corporate staff or individuals where the needs were more about navigation of load board and how do I find a dedicated customer. There's several puzzle pieces to these situations. Many newer owners are wanting to continue hauling what's comfortable, the same types of customer account they just left. Also people are nervous,
In uncharted waters for newer operators. People seek comfort and part of this comes through consistent settlements to deposit at home, and that is understandable.
Hello I'm trying to reach 911!
With the continuous increases in the entry cost to try and become a lease operator or independent owner operator. These callers are asking why isn't this working, like I was told? And without adequate operating capital and disruptions too their cash flow often these are calls for exceedingly stressful situations.
There are many issues that I observe and too often the first problem is the cash needed back at home.
Your personal paycheck question
Why isn't the personal pay of the lease & owner operator highlighted more? After all if you have to divert cash from your home to run the truck? That's a big, really big problem and leads to personal stress, family and marital problems and a lotta unhappy people.
Turn the page over, what do we see?
Then if because of this stess, you divert the cash needed to operate the truck away from business needs too the home and personal desires? There is on a daily basis problems trying to operate the business. Operators are then cash short when even the smallest repair or PM services leads to the necessity to borrow money at times for expenses as small as $500 dollars.
I've seen this way too often, when the company floats a loan for a tire purchase till the next settlement. Then the operator is cash short at home.
There's no quick fix!
I suggest to realize this problem did not appear overnight. year after it happens sorta like gaining weight, over the years we do as we wish, eat what ever we want. Then take the easy way and too often over indulge and under discipline ourselves.
One day you notice the pants are getting a little tight. And the next thing you know at your physical you're being counseled on obesity and pre-diabetic symptoms, and potentally loosing the 2 year DOT Medical Card.
Easy credit and deferred payments
Our personal debt grows often as fast as we can get approved for the next credit card, the car loans, and house payments.
And for many truckers that signature on a lease contract isn't translating back to the driver that this is debt.
One observation in this business is how many payment responsibilities are masked by the way these are transactions through the weekly deductions out of the settlements.
Since contractors never have to feel the pain of writing the check. It's kinda of outta sight outta mind.
What is also happening with the record-keeping is there is such a long delay for when the operator receives a P&L or cost of operating statement there appears to be a disconnect.
There are ways to fix this
But the fix won't happen on its own! Own it to fix it, helps available.
Respectfully
Gary
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