How independent are you? How independent do you really want to be? One draw to becoming a trucker is the independence it provides. This is especially true as an owner/operator with your own authority, but independence is a relative term to each individual.

Most truckers have thought of going ‘independent’ at some point in their driving careers. As anyone who has taken the leap knows, it requires guts and faith. For those thinking about having your own authority, before you take this leap, wouldn’t be nice to know what obstacles await you and to know how you’re going to get around them? And for those of you already in the fray of being a motor carrier, wouldn’t it have been nice if before you took this leap, you’d known what obstacles awaited you and how you were going to get around them?

Well, whether you’ve been in business for a while or you’re just starting the process, it’s a good time to look at the money route you’re on, or the money route you’re considering. It’s time to create a new game plan.

So what barriers are you going to come across in your quest for trucking independence? You need a ‘plan;’ yes, there’s that infernal four-letter word that equals another four letter-word: ‘work.’ It’s a choice: you can either put forth the effort and create a business plan before you take the leap, or you can suffer the consequences by taking your chances, depending on luck for success. With a business plan, it’s like driving down an interstate highway on a clear day; you have plenty of time to see obstacles and plan your reaction to them. Without a plan, it would be like trying to go down a mountain pass with hairpin turns, on ice, in a soup-thick fog; you’re doomed from the start.

The first step in putting together a business plan is self-evaluation: determining if you’re willing to make the sacrifices required, and deal with the consequences of running a trucking operation.

The toughest part of going into business for yourself is this self-evaluation process. Although at the outset these questions are difficult and seemly negative, they can reveal misconceptions in your thinking that are much easier to fix before you’ve made the financial commitment. Here’s a list of questions you need to ask yourself to decide if owning and operating a trucking business is something you really want to do. This will also help if you’re already deep into your trucking operation and, due to the state of the economy, you need to come up with a better means of operating your motor carrier. The most important qualities here are being honest with yourself and staying objective.

Do you have the character to be the owner of a motor carrier?

1. Do you lead others well? 
2. Do people come to you to make decisions?
3. Are you decisive?
4. Do you enjoy being competitive?
5. Are you a self-starter? Do you have the required self-discipline?
6. Do you map out each step before moving forward?
7. Are you outgoing and assertive?
8. Can you delay immediate reward for future prosperity?

Do you have the physical and emotional strength to not only drive the truck, but also run the business end of the operation?

1. Are you prepared to give up even more personal time than what you currently do as a lease or company driver?
2. Have you discussed with your family the disruptions, and the initial lower standard of living that occurs with any new business?
3. Is your family supportive of your trucking venture? (Starting a trucking operation without family support has destroyed the strongest of families.)
4. Are you prepared for the emotional upheaval that invariably occurs with the disappointments, rejections and failures that come with owning a motor carrier?
5. Do you have the financial strength to endure the business start-up period and inevitable slow times that occur with most trucking operations?
6. Are you prepared to work twice as hard to own a trucking company as opposed to just driving a truck?
7. Are you prepared to invest many hours, and risk your family savings to achieve your dream of owning a motor carrier?

How much business know-how do you have?

1. Have you ever worked in a managerial position?
2. … in the trucking industry?
3. Have you had any business or accounting classes?
4. Do you understand basic business accounting?
5. Do you know the difference between fixed costs and variable costs, and how they relate to figuring your hauling rates?
6. If you don’t have the business skills needed, are you willing to delay your plans while you learn them?

Finally, why do you want to own a trucking company?
No reason is really wrong, with the possible exception of someone else trying to pressure you into becoming an owner/operator with promises of greater wealth. Don’t get fooled by the line, “You can make more money doing the same amount of work you do now by having a trucking company.”  Keep in mind ownership is far more demanding, and if you’re not financially prepared for the lean times, the emotional stress can bring down the strongest.

With all this said, owning and operating a trucking company can be very rewarding and satisfying…if you’ve done your homework and put the effort into developing a business plan. Consider it a labor of love—hard work to achieve success doing something you truly enjoy.

One last note: no matter how long you’ve been a trucking company, it’s never too late to put together a business plan—it’s the best way to get you in the hammer lane to financial success.

Good loads and safe roads, everyone.

Timothy Brady
©2009