If you’re making the transition to owner-operator trucking, it’s a great way to be in control of your own career and schedule. Unfortunately, new owner-operators often find themselves in uncharted waters and make rookie mistakes.
- Not Sticking to a Budget
As an owner-operator, you are also an entrepreneur. In order to be successful, you must run your job like a business — because it is.
That said, make sure you have a detailed list of expenses and create a budget that allows you to see just how much you need to make in order to cover those expenses.
- Disregarding record keeping
As a trucker, you know record keeping is an essential part of the job. As an owner-operator, it becomes even more important. Set up a filing system where you can keep organized records you can easily reference whenever necessary.
- Not taking care of yourself
You are your most important asset. Proper diet and exercise, as well as getting enough sleep and keeping up on preventative healthcare must be your number one priority. It may be tempting to push yourself but if you can’t drive, you can’t make money. Period.
- Overlooking Maintenance
Your truck is your second most important asset. If it breaks down, so does your cash flow. Maintenance is an owner-operator’s responsibility so make sure you keep your truck in top working condition.
- Not being insured
Insurances can be considered as the necessary evil when you’re running a business, especially when you’re the owner-operator. Insuring yourself and your truck may cost you some money, but it gives you the safety net and peace of mind that you need in running your business.
Avoid these mistakes and your career as an owner-operator is much more likely to be a successful one.