Haulin Assets

March 2025 was a good financial month, but before we get into that, Craig and I talk about one of our trailers being rejected. It was because of some minor damage that had happened a while ago and hadn't been an issue, so why the rejection all of the sudden? Who knows. I'm also back in the dispatching saddle again. It has been while since I have done that job full time and let's just say, I'm a little rusty. What To Expect From Episode 177 Last month I said February was a pleasant surprise, March was an even more pleasant surprise. Let's take a look at the numbers: Total miles ran– 115,070 Deadhead miles– 7,746 (6.7%) Total revenue- $246,412.65 All-in rate-per-mile- $2.14 Haulin Assets had a profit of $49,849.00. The best month in over a year and the second best month since March of 2022. I hope it's a sign of things to come. The P&L was pretty normal, but here are the things we talk about. Revenue was strong Manageable fuel, 27.1% No insurance payment

Trucking Insurance is tricky! It is also typically in the top 5 expenses for a trucking company. For Haulin Assets it is the 4th biggest expense. There are a lot of factors that go into getting the best policy and the best pricing. In this episode we go over what you need to know as an Owner Operator or a Fleet Owner to make sure you are keeping that insurance expense as low as possible.  What to Expect in Episode 174 We just completed our insurance renewal so insurance is fresh on my mind and now is a great time to talk about it. Here are some of the topics we discuss. The Biggest Contributors To The Cost Of Your Policy Your loss run report Your CAB (Central Analysis Bureau) Report Drivers Who Are The Key Players Insurance Carriers Underwriter Insurance Agencies/Agent We spend the bulk of the episode in this section and go into some pretty extensive detail about who each one is, what their role is and we give some best practices for how you should interact with them. What You Will Need To Provide For A Quote Get everything to your agents 45 days before your policy expires. Here is what they will typically need. 4 Quarters of IFTA Returns Loss Runs for the last 3 years Updated Equipment List Updated Driver List Your Current COI (Certificate of Insurance) The timing of when you sign on the bottom line and bind your policy is critical. Make sure you listed to the episode to know when you should do this and what you will need to do it.  Getting the best price on your insurance is something that does not happen overnight. It takes you being intentional about several things. You have to work on the things we talk about throughout the episode all year long to make sure to get the best price possible and are able to control your costs. Remember, trucking is a low margin business and profits are earned by the penny. A dollar you save in expense is a dollar that hits your profit line.

February 2025 was a pretty eventful and interesting month. We had a truck get in a little skirmish with a BMW. No one was hurt and the vehicles weren't too bad off either, but it was one of those incidents that really make you scratch your head. We'll share some video on social media, I'd love to hear your opinions. I'll just ask the questions, when merging onto the freeway, how many vehicles can squeeze in front of a truck? What To Expect From Episode 175 February was a pleasant surprise. I really hope it's an indication of things to come, because I am really getting tired of low profits. Let's take a look at the numbers: Total miles ran– 103,728 Deadhead miles– 6,730 (6.5%) Total revenue- $227,885.97 All-in rate-per-mile- $2.20 Haulin Assets had a profit of $30,707.01. The best month of profits we have had in a very long time and really knocking on the door of being cashflow positive. The P&L is pretty bland, but here are a few things Craig and I talk about P&L Revenue Fuel Maintenance and repairs

Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com  Find our courses at haulinassetsacademy.com   Before we get into talking about truck driver pay, I talk about a recent incident where one of our trucks had its hood damaged by a driver who decided to make a left hand turn where he shouldn't have. His trailer didn't even come close to making the corner and caused some pretty good damage to the front of our parked truck. There is always something exciting going on in a trucking company. What To Expect From Episode 174 Truck driver pay is a complicated subject. There are a lot of different factors, probably the biggest being if you operate locally or over-the-road. Most local drivers are paid hourly and most over-the-road drivers are paid by the mile. Hourly paid is pretty straightforward, over-the-road, not so much. We spend most of our time talking about that. Here are some of the areas we touch on: Deadhead miles Bonuses (There is a lot that goes into this one.) Why I feel torn about incentive type pay We finish off by discussing how to figure out how much to pay and what are some of the things you should think about in that regard are.

Rinse and repeat is a good thing when times are good, not so much when you're in a freight market like we are in right now. January seems almost like a carbon copy of December. Most of the numbers are very similar. Before Craig and I dive into the numbers I talk about a couple of recent instances that happened to a couple of our trucks over the last week. Hopefully you find them entertaining. What To Expect From Episode 173 Let's take a look at the numbers: Total miles ran– 119,570 Deadhead miles– 8,559 (7.16%) Total revenue- $247,795.86 All-in rate-per-mile- $2.07 Haulin Assets had a profit of $15,862.03. P&L Damages Fuel Worker's Compensation Maintenance and Repairs Parking Fuel Taxes

This is a super important episode. If you own a truck, are a truck driver or run a trucking company, chances are you are going to deal with an accident at some point in your career. When it happens, you want things to go as well as possible. During this episode, Craig and I are going to help you know how you can be prepared and we will help arm you with some tips to protect you against those who want to take advantage of the situation. What To Expect From Episode 172 We have all been driving down the interstate and seen a billboard that says something along the lines of, “Have you been hit by a semi, give us a call and we'll make sure you get what you deserve.” Basically, that just means they know there is big insurance money behind trucking companies and they will try to sue the pants off them. Sometimes even if the accident wasn't the trucking company's fault. We talk about some things you can do to help you get the best possible outcome. Prevention (Before the Accident) Follow the FMCSA rules Make sure you are hiring qualified, safe drivers Maintain up-to-date driver qualification files Keep your vehicles well maintained Don't break Hours of Service rules Install forward facing cameras on your trucks When An Accident Happens Turn on your hazards If physically able, place warning triangles, flairs, etc. (make sure you know how to do this correctly) Take lots of pictures, from multiple angles, including some from far enough away to capture the entire scene Once things have calmed down, call your insurance company ASAP, ideally before you leave the scene, for sure within 24 hours I can't emphasize this enough, I explain why this is so important in the episode Post Accident There are lots of things that need to happen. We aren't going to cover them in this episode, but make sure you do them. If you don't know what to do, contact your insurance company. They should be able to help.

Before we get into the December 2024 financials, I go on a bit of a rant about truck parking. It is such a HUGE Problem! It causes drivers frustration and costs everyone time and money. I talk about an incident that recently happened to us that cost us a lot of money because of the parking problem. And it is a completely ridiculous situation that happened just north of Charlotte, NC at a Shell truck stop called Charlotte Travel Plaza. Beware of this place. You have to check in to park, if you don't, the parking fine they charge you is beyond RIDICULOUS, it really is a scam and it's legal because of the North Carolina laws. Listen to the episode to hear how much we had to pay to get a boot removed, it's not going to help out our January Financials. Shame on North Carolina for allowing this kind of extortion to happen, it's worse that usury interest on check cashing loans. What To Expect From Episode 171 The numbers this month were good, not great. I am however starting to feel a little bit of optimism that this year is going to see some improvement in the market. I have my fingers and toes crossed that things do get better. Let's take a look at the numbers: Total miles ran– 121,021 Deadhead miles– 7,282 (6%) Total revenue- $253,288.09 All-in rate-per-mile- $2.09 Haulin Assets had a profit of $12,042.27. P&L Items Payroll Fuel Maintenance and Repairs

As I mentioned recently, Brad, our operations manager left us the end of last year and Nate and I have had to divvy out his responsibilities. One of them that I have taken on is safety and compliance, so those topics have been pretty heavy on my mind lately. I feel like as a company, we have a pretty good safety culture, but we aren't perfect, and I want to step it up a notch. Improving safety within Haulin Assets is one of my personal goals for 2025. In this episode we cover some of the things that have been on my mind. What To Expect From Episode 170 I know this is not the most sexy topic in the world, it doesn't bring in revenue, it's not a task that requires your immediate attention like a broken down truck, but it will have an impact on your bottom line and can have catastrophic consequences if ignored. Here are the things we cover in this episode: Why does safety matter How do you build a safety culture Where can I find resources to help Why Does Safety Matter There is a lot that goes into this and we cover a lot in the episode, but it all boils down to a few things. We have a moral obligation to the public to do what we can to keep roads safe and the financial health of our companies depends on it. In trucking, profit margins are thin and we can't afford unnecessary expenses. Damage to equipment and injuries are often preventable and are big expenses we can largely avoid. How Do You Build A Safety Culture It starts at the top. Here are some of the topics we cover: Make safety a priority and ensure your drivers know it Show your drivers safety is more important that on-time deliveries Have regular safety meetings/talks Resources Your insurance company YouTube Haulin Assets Academy (Coming Soon) The FMCSA Resources for Drivers Resources for Carriers

It's the end of 2024, in fact, this episode with the November 2024 Financials is getting recorded on the last day of the year, but will post on the first day of the new year. 2024 was a tough year, proceeded by another tough year, that honestly was preceded by the start of the drop in the freight market. With three tough years in a row, we deserve some relief. With dropping interest rates, an economy that appears to be decently healthy, and what is likely to be a more trucking friendly presidency coming into office, there is a lot to look forward to. What To Expect From Episode 169 Sorry there has been a bit of a break since the last episode, with me taking a trip in a truck and the Holidays, I just couldn't get an episode out. November was an interesting month in a few ways, mileage dropped, but revenue increased. That makes for some pretty good talking points. Let's take a look at the numbers: Total miles ran– 109,155 (One of the lowest mileage months of the year) Deadhead miles– 7,147 (7.1%) Total revenue- $236,053.07 (With the holiday, ran fewer miles, but more profitable miles) All-in rate-per-mile- $2.16 (Best in several months, third best of the year) Haulin Assets had a profit of $16,837.14. With as low as our mileage was, profit could have been a lot worse, our saving grace was definitely the better rate per mile. P&L Items Maintenance and Repairs IFTA Payments Fuel, 26.4% of revenue We sold a piece of equipment

Happy Thanksgiving! Some of you will be home for Thanksgiving, some of you won't, I know what that is like. I want you all to know I am thankful for you. Both that you are listeners and fans of the podcast and that you keep America moving. I am thankful that there is food on my table and a roof over my family's head, both of which would not be possible without what you do everyday. THANK YOU. What To Expect From Episode 168 Revenue dropped a bit last month. I wish I know what caused it. I think there are several factors, one of them just being that the market is still bad and it is volatile. Total miles ran– 119,607 (Higher than last month) Deadhead miles– 8,542 (7.1%) Total revenue- $227,931.30 (Lower than expected, I think partly due to lower fuel prices, brokers are being more stingy on rate) All-in rate-per-mile- $1.96 (Our worst rate per mile all year) Haulin Assets had a profit of $5,062.43. With as low as our revenue was and as bad as the rate per mile was, I am kind of surprised we turned a profit. P&L Items Work Comp Maintenance and Repairs Fuel

Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com  Find our courses at haulinassetsacademy.com   The end of the year is a crazy busy time with the Holidays and everything else going on so taxes typically are not at the forefront of your mind, but they need to be. There are certain things you can do to improve your tax situation before December 31st that you can't do after January 1st, so you need to have a plan. I usually try to have a general idea about what I want to do by the end of October or the beginning of November. During this episode we are going to give you somethings to think about so you can start to build the right plan for you. What To Expect From Episode 167 So you own a business, does that mean you need to file a business tax return? The answer is maybe... We are going to help you answer that question and so much more. Here are some of the things we will cover. Filing deadlines, April 15th, right? Not always. Here are some other deadlines we talk about. Partnerships and S-Corps (March 15) Single Member LLC, Sole Proprietor, Corporations (April 15) Extensions (September 15th and October 15th) Quarterly Tax Payments ( 15th of the month after a quarter ends) One of the most important things you need to decide, is what is more important to you… show a profit or reduce how much you have to pay in taxes. You really can't do both. No one wants to pay any more taxes than they have to, but to lower your tax bill you have to lower your profit which then hurts when you try to get financing. Tax Strategies Reduce Taxes Maximize Profits Strategies for reducing income: Business StrategiesPurchasing equipment and different types of depreciationUse of accelerated depreciation Expense planningPrepaying expenses Negotiating payment plans or future payments Ensure you capture all your expenses, and account for all your deductionsHome Office Business use of personal vehicle Child Care Revenue RecognitionCash Basis vs Accrual When does it need to be Personal Tax PlanningRetirement accountsSEP Traditional IRA 529 College savings account Health Savings Plans Itemized DeductionsMortgage Interest Charitable Contributions None-reimbursed medical expenses If you have been slacking on your bookkeeping, get caught up now so you don't have surprises early next year when you can't do much about it Be ready to provide a summary of your business operationFactoring company statements Business bank account and transaction categorizationSome banks track your spending and categorize expenses. May require specific accounts or Use an accounting firm Multiple years of taxes needed, start with today and filed the current year. Don't get overwhelmed. Strategically work your way backwards until it's done. Small wins will get you there.

Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com  Find our courses at haulinassetsacademy.com   It's Halloween, which is a fun time of year. I love driving down the road and seeing how drivers deck out their trucks. It's fun to see their personalities come through. What To Expect From Episode 166 We are still slugging through this unprecedented freight market. I wish I knew when things would turn around, I keep thinking it has to be right around the corner, but I have thought that for a year now. I expect we'll see at least a little relief due to the holiday push, but I don't expect it to blow anyone's socks off. Here are the numbers for September. Total miles ran– 107,902 Deadhead miles– 5,141 (4.8%) Total revenue- $227,931.30 All-in rate-per-mile- $2.11 ($0.02 better than last month, $0.20 better than last year) Haulin Assets had a profit of $16,024.48. Which is more than I would have guessed, based on the revenue number. Still not close to where we want to be, but… all things considered, it could have been worse. Here are the P&L items that we'll talk about. Maintenance and Repairs Fuel

Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com  Find our courses at haulinassetsacademy.com   In this episode we are going to step out of the truck and away from the business and focus on you and your health. This can be a sensitive topic and it's something I have struggled with most of my adult life. I have found something that is working for me better than anything else I have done and want to share it. I'm no health expert, but want to share my story. It a change is something you are looking for, I hope this helps. Before we get into the meat and potatoes of the topic, Craig and I talk about some of the challenges the trucking industry is facing because of the crazy amount of fraud going on. What To Expect From Episode 165 Not everyone cares about their weight. With this and most things in life I take the attitude of to each their own. Do whatever makes you happy in life as long as it isn't impacting someone else. For me, weight is one of those things I love and hate. Because I am in the National Guard, I have to maintain a certain weight standard and it is something I constantly struggle with. I like food too much and I like to eat too much food. I tend to yo-yo. Most years during the summer I lose 20-30 pounds and then gain it back in the winter. This summer I tried something different that is working better than anything else I have ever tried. It is something you can do while on the road so I thought it would be good to share it with you. It's nothing new, you have probably heard of it. I've been counting macronutrients, commonly referred to as macro nutrients. Neither Craig or I are nutritionists so I am not going to go into the science of it, but I talk about my experience and share what I have been doing in more detail. Basically, I figure out what my macro breakdown needed to by, actually a professional figured that out for me. I use an app to track my macros on a daily basis to make sure I am eating a little less than what my body actually needs so that I lose about a pound a week. Like I said, we go into this in more detail during the episode. Here are some of the things I typically eat for each meal. BreakfastGreek yogurt (It's higher in protein than regular yogurt) Cottage cheese I often mix the cottage cheese and yogurt (I like it my wife doesn't) Oatmeal Mix (Oatmeal with water or milk, protein powder, I like vanilla, and fruit) Reese's peanut butter cup protein shake (8 ounces of milk, ice cubes, spinach, half a banana, two scoops of PB Fit, one scoop of chocolate protein power, mix it in a blender) LunchChicken breasts 8-11 ounces, grilled or baked with seasoning. You can cook it with a Road Pro 12 volt stove. Sandwiches using pitta bread and filled with cold cut lunch meats and cheese or healthy chicken salad. Cold cut lunch meat wrapped in cheese for a lower carb option DinnerRotisserie chicken from the grocery store, makes several meals Breakfast burritos or an omelet Fish Shrimp cocktail, if I want to treat myself Tons of healthy dinner recipes, we make a big meal and eat leftovers. I always took as many leftovers as I could when on the road. SnacksProtein drinks Protein bars Snickers, not the king size Beef jerky Boiled eggs Egg muffins Eating OutI still tend to get a burger and fries at least once a week. I just usually don't have the bun, some places call it protein style others call it a lettuce wrap and I only get a regular fry. I make healthier choices. When I go to Texas Roadhouse I only eat one roll instead of five For example, I recently went to Buffalo Wild Wings. I got the traditional 10 piece non-breaded wings, half with a dry rub half with a sauce and I only dipped a few of them in ranch. Tips for being successful Don't let yourself get hungry Focus on hitting your protein goalYou'll feel fuller and have less cravings Don't drink sugary drinksCoffee and diet sodas are good Water is the best Don't beat yourself up if you aren't perfect, you are going to have bad days. If you can follow the plan 80-90% of the time you are going to be successful. Eat for fuel, not for fun

Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com  Find our courses at haulinassetsacademy.com   Holy cow, Hurricane Helene has caused some serious problems. It seems like it has been a while since we have had a hurricane that was this bad. Ashville, NC received over 2 feet of rain and is a zone of devastation. It's not an area we deliver to often, but guess what, we have a load trying to deliver there now. The receiver's parking lot is full of mud and can't take trucks. It could be weeks before they are up and running again. I'll keep you posted on what happens. We are constantly trying to improve. We start off this episode talking about a few things we have decided to do a little different. We hope both changes will improve our bottom line. One of them should also have a positive impact on our maintenance BASIC score and hopefully on our overall maintenance costs. What To Expect From Episode 164 We had a really good revenue month, but overall numbers are still not where we want them to be. There are some positives in the numbers that we will talk about throughout this episode. Total miles ran– 136,000 (That's a new record) Deadhead miles– 10,513 (7.7%, down a little from last month.) Total revenue- $283,586.73 All-in rate-per-mile- $2.09 ($0.03 better than last month, $0.10 better than last year) Haulin Assets had a profit of $5,189.78. With the big revenue month, I was expecting more. There were some P&L items that impacted net profit. Here are the P&L items that stick out, we'll talk about them. Damages Payroll Maintenance and Repairs Fuel

In episode 160, we talked about CSA scores and how they work and some best practices. Managing the safety program for a trucking company is not an easy job, whether you are an O/O or have a fleet. There is a lot to know and do. So, what happens if you didn't do a good job with those things and you are under the FMCSA's microscope? In these two episodes, Craig and Chris are joined by Alex from Motor Carrier HQ to pick her brain about her experience with the FMCSA, maintaining good ISS scores, and how to get yourself out of a hole if you find yourself in one. Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com  Find our courses at haulinassetsacademy.com

In the last episode on safety, we talked about CSA scores and how they work and some best practices. Managing the safety program for a trucking company is not an easy job, whether you are an O/O or have a fleet. There is a lot to know and do. So, what happens if you didn't do a good job with those things and you are under the FMCSA's microscope? In these two episodes, Craig and Chris are joined by Alex from Motor Carrier HQ to pick her brain about her experience with the FMCSA, maintaining good ISS scores, and how to get yourself out of a hole if you find yourself in one. Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com  Find our courses at haulinassetsacademy.com

Haulin Assets Academy Full Show Notes Haulin Assets T-shirts and More   This year has been better than last year, but we are still not where we want to be. Hopefully, things continue to gradually improve as the year goes on. Here is what July looked like. Total miles ran– 118,563 Deadhead miles– 9,649 Total revenue- $243,804.91 All-in rate-per-mile- $2.06 Haulin Assets realized another small profit of $10,342.41. That continues our profitability streak of 10 months, but cashflow is still negative and we talk about that a bit, including a big change to help alleviate some of the pressure that causes. Here are some areas of the P&L that we highlight. Factoring Fuel Repairs Taxes and licenses

What do peaches and the FMCSA Safety program have in common. You'll have to listen to find out, but I will tell you, understanding the low hanging fruit principle can help you stay out of hot water with the FMCSA. We cover a lot in this first episode of a two part series on the FMCSA Safety program. It can be tempting to neglect safety, especially when you are struggling to survive in a tough market. However, failing to manage your safety and your FMCSA scores can sink your company faster than low freight rates. Listen to the episode as Craig and I share some great tips when it comes to safety. What To Expect From Episode 160 BLUF (Bottom Line Up Front), If you want to have good CSA scores, be safe, maintain your vehicles, obey traffic laws, and don't break the hours of service rules. With that being said, we give a lot of tips about what the CSA scores are, how they are calculated, and some of the best practices to keep them low. Lower is better. Here is an outline of what we cover. What Are CSA Scores Most Motor Carriers receive scores in 7 Behavior Analysis and Safety Improvement Categories, which wrapped up in a nice little acronym called BASICs. The categories are: Unsafe Driving 65% Crash Indicator 65% Hours-of-Service Compliance 65% Vehicle Maintenance 80% Controlled Substance 80% Hazardous Materials Compliance 80% Driver Fitness 80% Insurance and Other (This one isn't really scored, it's more like pass or fail) The percentages are the thresholds, we explain those during the episode. How You Get Your CSA Score The simple answer to this question is they come from interventions with the FMCSA/DOT Officers. Those can be anything from roadside inspections to an audit. Most inspections occur at Ports of Entry or because of an inspection that happens when a driver is pulled over for a moving violation or obvious vehicle maintenance issue. One of the biggest contributors to the number of inspections you get is your ISS Score (Inspection Selection System). You can check your score and a lot of other important things regarding your company's history with the FMCSA by logging into their system here. Understanding The Scoring System The scoring process is a bit complicated. I am going to over simplify it, but here is the general idea. Every time you are inspected your company receives a score. If there is a violation, you get bad points. If the inspection report is clean, you get good points. The formula the FMCSA uses basically divides the bad points by the good points. If you have more good points than bad, your resulting "measure" will be less than one. If you have more bad points than good points, your "measure" will be higher than one. Good inspections will give you more good points and lower your "measure". Your "measure" is then compared to all the other fleets that are roughly your same size. If you are right in the middle, meaning half the companies have a "measure" lower than yours and half the companies have a "measure" higher than yours, your BASIC score will be 50%. If you are in the top 10%, your score will be 10%, etc. Every BASIC has a threshold, if you are above the threshold you are going to be on the FMCSA's radar. You just became low hanging fruit, if you don't know what that means, listen to the episode. If you really want to nerd out and dive deep into the methodology and calculations, you can learn a lot by clicking on this link and reading the document. Understanding The Consequences Of Your CSA Scores There are several things that happen if your CSA Score exceeds the threshold. You are going to get a letter from the FMCSA saying you need to behave and do better Your ISS Score is going to increase and your are going to get inspected more, when that happens, most scores get even worse If your score stays elevated for a while or if you exceed the threshold in multiple categories, you are way more likely to be audited, that's when the fun really begins Most audits result in a Safety Rating, either Satisfactory, Conditional or Unsatisfactory. In part two of the series we will talk about what happens if you get a bad safety rating or if the FMCSA tells you that you need to complete Corrective Action Plan.

Haulin Assets Academy: https://www.haulinassetsacademy.com/ Motor Carrier HQ: https://www.motorcarrierhq.com/    This is a topic I wish I did not have to cover, but fraud in the trucking industry is going crazy right now and it is affecting all of us. Being dishonest is very short sided and will catch up with you in the long run. There is no place for dishonesty in the business world. In my opinion, fraud is one of the worst forms of dishonesty. What To Expect From Episode 159 Why is fraud so rampant right now? I have my theories that Craig and I discuss, but I think it stems from the tough market we are in. Here are some of the more common types of fraud that we talk about: Double brokered loads (We spend a lot of time on this one) Companies that pretend to be the FMCSA, DOT, IRS or State AgencyEmails from government entities should end with a .gov not .com Card skimmers New Entrant Audit scamsWatch out for these domainscompliance@dotfilings-fmcsa.com compliance@usdots-fmcsa.com @fmcsa-gov.com @safer-usdot.com Being vigilant and skeptical is your best weapon. Here are some of the things we talk about watching out for: Formatting is off on the rate confirmation Rate confirmation is missing information, like your company name The logo looks blurred or otherwise messed up The rate is well above market rate Email addresses with a domain that does not match the companyGmail, Outlook, iÇloud, Yahoo, etc email domains are a big red flag New domains, you can check the domains age at https://www.whatsmydns.net/domain-age Verify everything, especially when working with someone for the first time Independent internet searchesCall the phone number you find independently, not the one on the paperwork they gave you Your factoring company Get a second opinion from someone you trust or someone who is an expert

Haulin Assets Academy: https://www.haulinassetsacademy.com/ I start off this episode ranting a bit about a couple of challenges I faced recently. One involved being dropped from a load that I think was completely unwarranted. The second situation was because of a strong oder in a trailer that wouldn't go away, even after a washout.  What To Expect From Episode 158 We are not where we want to be, but if you look at June of last year verse June of this year, we are in a much better spot. All the trucks are running. Here are the numbers: Total miles ran– 118,237 (The sitting truck was back working for about half the month) Deadhead miles– 8,806 (7.5%, Creeping up. I have expected this and explain why) Total revenue- $244, 523.12 All-in rate-per-mile- $2.07 (Drop from last month) Haulin Assets realized a profit of $23,521.93, that is the second best of the year. What has me even happier is that it is $46,983.01 better than last year when we had a loss of $23,461.08. We continue to extend our streak of being in the black, that makes me happy. If we continue to see profit through the summer I will continue to get more and more optimistic that the market is finally turning the corner. The P&L was pretty bland this month. Additionally, I explain why we were able to have a lower all-in rate-per-mile, but had a higher profit than last month.

Haulin Assets Academy: https://www.haulinassetsacademy.com/   Throughout my military, business ownership and corporate careers I have held many different types of leadership positions. I have lead groups with just a few people to groups with hundreds of people. I am a much better leader today than I was 20 years ago. I hope this episode will give you some things to think about so you have a leg up to becoming a better leader. Keep in mind that a great leader positively impacts an organization in ways that are immeasurable. Great leadership is a multiplier for your organization. What To Expect From Episode 157 Whether you are a single owner operator or the owner of a fleet of trucks, you are the leader of your trucking company. I want to share some of the things I have learned over the years about being a good leader. Some of the greatest leadership lessons I have learned came during difficult circumstances. Here are a few of the leadership experiences I have had that have helped me gain experience: Army Engineer Company Commander in Afghanistan, starting and running multiple businesses, running businesses in difficult times and learning how to lead at the Army's Sapper Leader Course under extreme hunger and fatigue. During this episode, Craig and I break down and expound on the following keys I feel like are imperative to being a good leader for your trucking company. Here they are: Provide good direction and guidanceGood company policies The type of drivers you hire How big of a company you will be Build a good cultureSafety How hard your drivers run How your drivers are treated Hiring process Be a servant leaderFind ways you can serve your drivers Find ways to give your drivers a win Be self-awareBe honest with yourself, change the things you do that cause problems Leadership is a life-long endeavor. You should always work on your leadership skills. Here are some ways I like hone my leadership skills. Read great books on leadership, here is a list of some of my favorites:Good to Great, Jim Collins Speed of Trust, Steven Start With Why, Simon Sinek BiographiesUlysses S Grant Alexander Hamilton Buffet: Making of an American Capitalist, by Roger Lowenstein Steve Jobs, Walter Isaacson Elon Musk, Walter Isaacson Be reflective Get feedback

This month is a really good indicator of what happens when you have a truck sitting for too long. We had a truck sit the entire month and the impact on the bottom line is pretty easy to calculate. Craig and I spend a few minutes of this episode showing the impact that a sitting truck has on your net income. It's a pretty interesting case study. Be sure to listen in. What To Expect From Episode 156 We took a step back this month. Largely because of the truck without a driver. Here are the numbers: Total miles ran– 109,840 (Lowest since September of last year) Deadhead miles– 7,578 (6.9%) Total revenue- $239,743.84 All-in rate-per-mile- $2.18 (Moving in the right direction, three months in a row of improvement) Haulin Assets realized another little profit of $4,688.82. This is a decrease from last month and we ended our streak of doubling every month. But, at least we extend our streak of being in the black. June of last year was the beginning of a really bad streak of losses, I am super interested to see what happens this June. I am crossing my fingers that we can keep the numbers in the black through the summer. That will be a win compared to last year. There were a few expenses to take note of on the P&L, here are the areas we dive a little deeper into: 5 Payrolls Tolls keep going up and up Fuel is 27% of revenue

We just completed our 2024 insurance renewal last month, so I thought this world be a good time to revisit the subject of insurance. It's been several years since we have taken a serious swing at the topic and high time we do it again. Especially since insurance is in the top 5 expenses for most trucking companies and a little savings on your insurance bill can go a long way towards improving your bottom line. What To Expect From Episode 155 Buying truck insurance is a pretty complicated and sophisticated purchase. The better you understand it, the better product and service you will receive and the better price you will pay. Understanding the players in the truck insurance world is step one in building your insurance knowledge. Craig and I start off the episode talking about the difference between insurance agents/agencies and insurance companies. We also discuss how many agents should you have giving you quotes. I typically recommend that you work with 2-3 agents, because that is usually enough to get you quotes from most, if not all of the major truck insurance companies. It's good to get an early start whether you are getting a quote for the first time or working on a renewal. I recommend you start gathering all the information needed for the agents giving you quotes around 60 days before your renewal. Here is what you will usually need to provide: A completed application, your agent can often take the information over the phone, fill it out and provide you a document to sign. Your equipment list with all your trucks and trailers listed along with their current values. The value you list is critical. Listen to the episode and I explain why. Driver list Loss runs Timing is critical. I recommend you have all the info your agent needs to get a quote to them at least 30 days before your policy expires so you get the quotes back in a timely manner. I also recommend you bind the new policy, that means making the down payment, at least 1 week before your policy ends. That ensures you don't miss out on any loads. About a week before your policy expires some shippers and brokers won't book loads with you because they see your policy is expiring and they want to see you have a new one in place first. How much your policy is going to cost depends on a lot of different factors. It really boils down to risk. We talk about some of the main risk factors that affect your pricing, to include: How long you have been in business How many claims you have had and how much has been paid out in the past Experience of your drivers Equipment values Where your home base is and where your truck(s) travel to Not all insurance policies are equal. Price is an important factor, but you also want to make sure you are getting adequate coverage for the type of operation you run. For example, if you have reefers, make sure you get reefer breakdown coverage. If you are hauling something super expensive, make sure your cargo insurance is high enough. If you haul HAZMAT make sure you have the right coverage at the right limits. A good agent who primarily does truck insurance will be able to help you through all of this. Don't work with an agent just because they are someone you know. If they don't regularly write truck insurance they can get you in a lot of trouble by not providing you the coverage you need.

We keep moving in the right direction, April 2024 Financials were better than March. If you remember I mentioned I would be happy if we can keep doubling our net income for 4-5 months. April is the third month in a row we have been able to do that. We start off the episode talking about the importance of being agile. If you aren't agile in this kind of a market, you are going to be hurting.  What To Expect From Episode 154 Even though we keep moving in the right direction, there is still a decent way to go. Here are the numbers:  Total miles ran– 113,066 (Lowest in a while, had a truck sitting for a while. Larry had to step a way from over the road for a while. He is a great driver, we'll miss him) Deadhead miles– 7,551 (6.7%, slight increase) Total revenue- $241,614.25 (Decrease, for the number of miles, it's an improvement) All-in rate-per-mile- $2.14 (Moving in the right direction) Haulin Assets realized another baby profit of $10,565.31. That is also 7 months in a row in the black. Here are some of the P&L items we discuss during this episode: Revenue was downRate per mile was up. Most expenses were pretty normal, but here are the exceptions:Bad debt Maintenance and repairs I did another CPM analysis and we went from $1.97 in October 2023 to $1.87 now

Independent Owner Operator verses Leased Owner Operator is a bit of a controversial topic because you get strong opinions on both sides of the argument. I think that is because being an independent Owner Operator is the right thing for some people, while leasing on to another company can be the right thing for someone else. In this Episode of Haulin Assets the Podcast, I want to talk about the pros and cons of both, along with the things you need to keep in mind and watch out for to help you make the decision for yourself. What To Expect From Episode 153 Let's define each. Independent Owner Operator, just like the name implies, you are truly independent. You have your own DOT number, you own or lease the truck you drive, in most cases, you have your own Operating Authority (MC Number) with the FMCSA (Federal Motor Carrier Safety Administration). Leased Owner Operators, own or lease a truck and operate under the authority of another motor carrier. Where things get confusing is the term leased is also used when leasing vehicles, think of that kind of lease as a long-term rental of the vehicle. That type of vehicle lease/rental is different the leasing on as an owner operator, they are two very different types of leases, but often happen at the same time between the same companies and can cause some very serious problems. We talk about that and why you have to be super careful in that type of situation. I'll put it this way, we don't recommend leasing or buying a truck directly from the motor carrier you are going to lease on to. Craig and I talk about why that is. There are pros and cons of both and we talk about each. Independent Owner Operator Pros Truly Independent Higher financial upside You get to decide the type of loads you haul Lots of tax benefits Investment control Strong sense of ownership Cons You have to find your own loads All responsibility falls on youBookkeeping Sales Maintenance Admin tasks MCHQ and Trackin Assets can help you navigate a lot of these Higher stress Takes more money to start Your insurance will likely be higher for the first year or two Isolation Unknown, unknowns  Leased Owner Operator Pros Many administrative tasks are handled for you You don't have to find loads You will get some cost savings operating as part of a larger fleet Less financial risk Should have access to steady work Training and safety programs Great way to gain experience and use it as a stepping stone to becoming an independent OO Cons You sharing the profit with another carrier You're working for someone else and have to follow their rules and do what they say, you lose control Some companies will take advantage of you You may be the low man on the totem pole Some contracts can be very restrictive Ownership transfer issues Other considerations Independent Owner Operator Fraud You'll need a bigger reserve of money Leased Owner Operator Talk to several owner operators who do work for the any company you are thinking about leasing on to Make sure you read through the entire lease agreement. Consider having an attorney review it. I know it costs money to do so, but it could save you money in the long run and prevent a lot of heartache. At Haulin Assets we don't come down hard on either side of Independent O/O vs Leased O/O. We generally advise against lease to own. It's not the subject of this episode so we won't go into depth but things just seem to be more likely to go wrong with lease to own. The agreement is riskier, the lessees are generally not starting on a firm footing, and the lessors can have incentives for you to fail.Buy or lease your own truck, from somewhere other than the company you are leasing on tooDo your own truck registration/IRP plan (Another way they trap you) This will take a bit more money, but is a much safer way to do it, less likely to be taken advantage of

Although we saw a slight improvement, the March 2024 financials turned out to be more like February than I would have liked. Considering the extra payroll, it really could have been worse. Hopefully we continue to see improvement as the year goes on. What To Expect From Episode 152 Our trucks ran harder in March than they ever have, setting a new record for the most miles ran in a month. The high miles, however, weren't enough to give us a meaningful profit. Here is how things looked: Total miles ran– 130,151 (New Record) Deadhead miles– 7,615 (5.9%, about the same as last month) Total revenue- $261,567.02 (Better than last month, but not as good as January) All-in rate-per-mile- $2.01 (I would have liked to have seen a little better number, hopefully we do in April) Haulin Assets realized another baby profit of $4,199.19. That is double what we did in February, if we can double our net income every month for the rest of the year, I'll be happy, okay, that's not realistic, even we can do it for the next 4 months would be fantastic.  There wasn't much in the P&L that really sticks out. The only thing outside of normal is an increase in fees for legal and professional services. That was mostly a payment to do the Haulin Assets taxes for 2023.

Who didn't like marshmallows when they were a kid and how do they relate to trucking? We'll try to answer that. Before we do, I want to rant a bit. I can't wait until I'm like Walmart and companies just have to do what I say, whether they like it or not. We talk about a new decision Walmart has made that affects us. To be honest, I can't argue with their logic, but I don't have to be happy about it. What To Expect From Episode 151 In 1972 psychologist Walter Michel of Stanford conducted a study on delayed gratification with some kids. It was called the Stanford Marshmallow Experiment. We talk about the experiment and how it relates to trucking, especially business ownership. The study largely focuses on self-control and willpower and how those two skills or traits have an impact on a person's ability to be successful. Listen to the episode as Craig and I talk about the study and how important those two skills or traits are. We also attempt to answer the questions whether those traits are something you are born with or can learn or develop as you age.  Here are some interesting additional readings about the Stanford Marshmallow Experiment. UCLA Anderson Review University of Colorado Boulder

Sign up for information about Haulin Assets Academy here: https://haulinassetsllc.com/2024/01/23/finding-loads-the-process-episode-146/ Check out Fuelstream here: https://www.fuelstreamservices.com/   Traditionally, February is the low point of the year for the trucking industry. If that is the case this year, we have reason to celebrate. Although we didn't rake in huge profits, we did a lot better than we did during the really tough period we had during the middle of last year. Before we jumped into the heart of this episode, Craig and I talked about two different situations we ran into recently. The first is about a frustrating receiver we regularly deliver to in the Miami area of Florida. The second is about a ruptured reefer fuel tank, that's a new one for me. What To Expect From Episode 150 The numbers this month are pretty bland, nothing to write home about, but what more do you expect in February? I am actually fairly pleased with how things turned out and I expect things to get better and better as the year goes on. Here are the numbers: Total miles ran– 114,044 (Lowest miles we have had in 5 months) Deadhead miles– 6,474 (5.7%, about the same as last month) Total revenue- $234,532.17 ($56,426 less than last month) All-in rate-per-mile- $2.06 (If this is the low point of the year, which I think it should be, I'll be happy) Haulin Assets realized a baby profit of $2,046.87.  Here are the P&L items we talk about: Revenue A new expense category Fuel

Sign up for information about Haulin Assets Academy here: https://haulinassetsllc.com/2024/01/23/finding-loads-the-process-episode-146/   We start this episode off with a funny story about Cruella de Vil the truck, it makes for a good listen. Finding the right loads is one of the most important things to do well with your trucking company. It is also one of the most challenging. That is why I decided to do a series on the subject. This episode is going to wrap the series up and tie it all together with a neat little bow. If you have not listened to the previous three episodes, go back and listen to them first. As a reminder, they were: Episode 144, Finding Loads, They Systems I Use, Episode 146, Finding Loads, The Process, and Episode 148, Finding Loads, Relationships. What To Expect From Episode 149 The spot market, that mostly lives on load boards, has its purpose in the trucking industry. However.... if that is all you are using, you probably won't last long as a company and you definitely won't be as profitable as you could be. There is both a science and an art to find the best loads available. The the science is the systems, processes, and number crunching and art is the relationships and negotiation. We break down the science and art and talk about the following keys to success: The Science Having good systemsLoad board TMS File Storage Tracking weather Having a good processEarly to bed, early to rise, makes a dispatcher successful and wise Don't wait Be efficient Know your numbersVariable and total cost per mile Target rate per mile Revenue per day is as important as rate per mile The Art 80-20 Rule It's about relationships Where to find the best loads How to negotiate

If you want to hear about the worst experiences I have had with a repair shop, listen to this episode. All I can say is never take your truck to the Freightliner Northwest in the Seattle area. As time goes on, I get more and more comfortable dispatching. One of the best parts of dispatching is the relationships I have been able to build. Relationships is one of the biggest keys to being successful finding loads. What To Expect From Episode 148 Anyone can find loads, it is a lot more difficult to find loads that are profitable and keep drivers happy. The biggest difference between finding just any load and finding consistent, good paying loads is building good relationships. When I first started dispatching, I was getting all of my loads, that weren't direct shipper loads, off load boards. Last month I booked 41 loads through brokers, I only got 20 of them came from a load board. The other 21 were all via a few broker relationships where I was able to reach out directly to the broker and get a load before they had posted it. The meat and potatoes of this episode covers some of the things I have been doing to find and build those relationships. This may seem like a simple thing, but it's not easy. It takes time, commitment, compromise, and a good attitude. Doing it right can have one of the biggest positive impacts on your trucking company. Like many hard things, it's worth the time and commitment it takes. Being willing and able to do hard things is one of the biggest factors that separate the successful from the unsuccessful. THE CHECKLIST Whenever I book a load with a new broker I... Make sure I communicate well throughout the entire load Do everything they ask Follow through with what I commit to them Send a follow up email thanking them for the load. If I think they are someone I would want to do more business with, I follow up with a phone call: 5a. Try to guage if we are a good fit for each other. Common lane, are their rates good enough 5b. Make regular contact 5c. You might have to take a load that fills a need for them, but might not be the best for you

January was a good month, it seems like it has been a while since I have said that. It's also been a while since I have told a good "Chris is stupid story" from my adventures on the road. This episode starts with a good one. The silver lining is that it was a good learning lesson that shouldn't cause any serious harm. What To Expect From Episode 147 The last 4 months have been some of the hardest months of my career. They have been tiring and stressful, but it is so nice to see positive results and it is making all the sacrifices feel worth it. With that being said, we still have work to do. Like I said in the story I told at the beginning of this episode, we can't get complacent and we can't settle into a routine. If we continue to push, good things will happen. I feel like we need a drum roll. I'm really excited to share this month's numbers, so without further delay...... Total miles ran– 120,930 Deadhead miles– 6,347 (5.2%) Total revenue- $290,958.59 (New Record) All-in rate-per-mile- $2.40 (Best number we have seen since August of 2022) Haulin Assets realized a good profit of $59,546.22. Last month I said I was not going to feel good until I see our net profit number in the $50-60k range. I feel pretty good. We haven't seen a number like that since the height of the market at the beginning of 2022, right before the crash started. I think we have made a muckle, at least for this month. Most of the expenses on the P&L were pretty in line with normal so we don't talk much about those. The only exception was fuel, which was only 24.3% of revenue. That is the best we have seen since the beginning of 2022. Hopefully, fuel stays relatively low and revenue stays high. We finish off the episode by talking about some of the changes happening that have produced good results.

This episode is jam packed with tips to help you find loads for your trucking company. We hone in on the process of finding and booking loads. We also start off this episode by introducing a new project I am working on that is going to be a game changer for many of you. It's called Haulin Assets Academy. It is an online, video based learning system that a team and I have developed to help you take your trucking education to a whole new level. Whether you have 1 truck or 20, Haulin Assets Academy is being built to take what I have learned over many years of trucking and condense those lessons learned into easy to digest modules that will help you sprint to a high level of success without losing your breath. You will be able to get to where you want to be faster, with a lot less headache. Stay tuned, Haulin Assets Academy will launch sometime in the next few months. What To Expect From Episode 146 Dispatching is not an easy job. It's busy, hectic and requires you to be detail oriented at a very high level. Having a well defined process and following it is critical to keeping your trucks rolling efficiently with high paying loads. One of the keys to success is starting your day early. Load boards see their highest level of activity between 0800-1100 Eastern Time Monday-Friday. Activity on load boards tend to see another uptick around 1500 (3:00 PM). You need to be up and glued to the load boards during those hours if you are looking for loads for a truck. Here are some of the other things we talk about: Staying ahead of the game Your company information Sending a driver out When to start looking for the next load Relationships Take notes Impact Tip Register for the Haulin Assets Academy email list. Go to haulinassetsllc.com and look for the popup on Episode 146's page.

Happy New Year!! I am so happy to kick 2023 to the curb. I am optimistic that we will see some good things happen in 2024. Regardless of what happens with the economy, I think the changes we are making will help Haulin Assets continue to improve and become stronger as a company. One thing I know for sure is that this challenging year has taught us lessons that will make us stronger and more profitable than we would have been otherwise. I hope you follow our journey and that some of the lessons we learn will be valuable for you too.  Craig and I start this episode off with a funny story about one of our drivers crossing a scale while pulling a reefer trailer full of bulk liquid totes.  What To Expect From Episode 145 This was another month that did not produce the results I was hoping for. On a good note, we were slightly in the black. Here are the numbers for December.  Total miles ran– 123,557 (315 more miles than last month, you can't say we aren't constant) Deadhead miles– 7,455 (5.1%) Total revenue- $268,143.84 (Second best ever) All-in rate-per-mile- $2.16 (One of the better all-in rates of the year, but still not where we need it to be) I am really happy with the total number of miles ran, total revenue and our all-in rate-per-mile is moving in the right direction. The net income did however disappoint me. This month Haulin Assets realized another small profit of $1,633.76. There were several contributing factors that kept us from better numbers. Here are some of the areas we dive a little deeper into: Bad debt Payroll Fuel compared to revenue Repairs, especially Truck 02, our only active truck that we bought used Tolls I also spend some time talking about a new goal I have regarding working with brokers. I have already seen some good benefits. Listen to the episode to find out what I am learning and what I am trying to do different that is bearing fruit. 

Finding loads for truckers is one of the most critical tasks for any trucking company. If you have been following this podcast, you know that up to this point we have used a third party dispatching service to help us find loads. About three months ago we started the process of bringing load finding in house. We are taking about 5-6 months to complete the transition. I am up to dispatching 6 of our 11 trucks and will take on 2 more trucks in about a week and the last 3 in the month or two that follow. The last 3 months have been super educational and I plan on sharing a lot of what I have learned with you. I am going to do at least 3, probably many more, episodes around the topic of finding loads. The first one is going to be technical, Craig and I are going to cover all the systems I use to do the job effectively. What To Expect From Episode 144 Finding loads and dispatching trucks is a very fast paced, intense job, whether you are managing 1 truck or 10. It requires lots of different skills, you have to be able to multitask, pay attention to detail, build relationships and stay organized. Having good systems and processes in place is critical to being successful, that is why I am dedicating the first episode on this series to the systems I am using to stay on top of everything that is going on. Here are the different systems I am using, we cover each one in more detail throughout the podcast. I hope this episode is helpful. ComputerTwo monitors, scroll down to see what my computer setup looks like. Email, kind of goes without saying You want any system you use to ideally be able to operate on your phone so you don't have to be by your computer all the time. However, the apps are never as good and there are typically things that are harder to do from your phone. Phone systemA VOIP based phone system, something that records calls and can text. I use my cell to communicate with drivers and my VOIP phone to interact with brokers.Ring Central seems to be the most popular Nextiva A cell phone LoadboardsDATSeems to have more loads The app is not as good as the computer. You can't do multiple searches at the same time. Audible alarm Heat map that shows inbound and outbound volume of loads ITS, truckstop.comCheaper They say they have brokers who either use them exclusively or post to their site before they post on other load boards TMS (Transportation Management System) or an Excel SpreadsheetOne of my favorite things about spreadsheets is they are free or very cheap, Google Docs, Excel I think you can manage 5 trucks okay with a spreadsheet. Once you get over 5, I would definitely recommend using a TMS. You may even want to with 3. ELDMotive A program to digitally sign docs, lots of optionsFor a Microsoft Windows based computer, Adobe Acrobate DC, it's freeComes installed on most computers For Macs, PreviewerComes with the computer Android, Adobe Fill and Sign Mobile App iPhone, you can sign with the native pdf viewer Credit ChecksDATI take this with a grain of salt Factoring companiesTheir systems seem to be the most reliable WeatherNational Weather Service, look at the loop and select weather. State Road Conditions, every state has somethingLook at the cameras WY, I-80 OR WA NE Cloud based share point for document storageAccessible from your phone EvernoteKnowledge is everything. The more you know the better you are going to be. I don't remember everything well, so I take notes and review my notes regularly Free and paid versions

Earlier this week I had one of the crazier days I have had in a long time. Two trucks broke down within a matter of minutes of each other and we had a truck involved in a minor accident. Needless to say, we have a few interesting things to talk about.  What To Expect From Episode 143 Another month in the black, but I still feel like we are running on a treadmill getting nowhere. I am beyond ready for a change in the freight market. I was expecting a little better 4th quarter than we are seeing. At least it isn't as bad as this summer was. Here are the numbers: Total miles ran– 123,557 (11,232 average per truck. I am happy with that) Deadhead miles– 7,455 (6%, backdown to a respectable number) Total revenue- $246,357.69 (Second best ever) All-in rate-per-mile- $1.99 (I really want to see this number above $2.25) Haulin Assets realized another small profit of $9,471.77. I was hoping for better, but it does feel good that we are not bleeding as badly as we have been. The P&L was pretty bland so there was NSTR. (Army acronym, can you guess was it means?)

A breakdown, a tow, a rental truck, another breakdown, getting ignored by a broker and rushing to make appointments, all in a week's work for one of our drivers and the team that supports him. I have said this before, nothing is easy in trucking and the best company owners are people who can solve problems. We had a lot of problems we had to solve throughout that trip. I start off this episode talking about a truck we had breakdown and the excitement that ensued. It all ended as well as can be expected, the load got delivered, only a day late, and our driver made it home in time for Thanksgiving.  What To Expect From Episode 142 Your CPM (cost per mile) is one of the most important things you should know and understand well about your trucking company. This is the second time we have dedicated an entire episode to this subject. The first time was over 4 years ago and a lot has changed so we're overdue to dive into it again. We cover a lot in this episode and it is definitely a must listen. The excel spreadsheet with our CPM data is below. It is best to look at it while you are listening to or watching the episode.  Here are some of the things I feel like you need to consider when it comes to your cost per mile, we discuss each in detail. How often you should figure out your cost per mile Is it better to calculate your CPM based off one month of data or the average of 6 months worth of data When should you re-evaluate your CPM My Process For Calculating Haulin Asset's CPM I dive into the mechanics of how I do it. Here is an overview: I pull a Profit and Loss Statement for the most recent month and one for the previous 6 months and export them into Excel. I delete the revenue info. I like a clean workspace without unnecessary data and the revenue info is not needed. I categorize all my expenses as either fixed or variable and group them together. Fixed costs-costs that are based on time rather than the quantity miles driven. (I give some examples in the podcast.)  Variable costs-costs that change as the number of miles driven changes. (I give some examples in the podcast.)  To simplify things, I lump the smaller less significant fixed costs into one group I call G & A (General and Administrative). I do the same thing for smaller variable costs and put them in a group called miscellaneous.  I like a hybrid CPM calculation where some of the expenses are based off the most current month and some of them I use a 6 month average. I explain this better in the podcast.  I take the mileage from the most recent month and divide each expense by the mileage to get the CPM. Using a spreadsheet makes this step pretty easy.  How Do I Use This Info In the podcast I cover a bunch of different ways I use the CPM to help me make better business decisions. With that being said, just because I know my CPM doesn't mean I won't take a load that I essentially lose money on. I use some examples of recent loads to explain this better.  If you haven't actually started your company yet and you want to estimate your cost per mile, Motor Carrier HQ has a great online CPM tool. You can use it to get an idea of what you think it will cost you to operate and that will help you know if you can be profitable based on the rate per mile you think you can get from loads you will be hauling. You can access the calculator by clicking on here.  To close out, Craig and I talk about how using my CPM as a comparison to yours could be a great tool to give you better insight into your operations.

We finally broke the losing streak, but not by as much as I would have liked. October saw the establishment of several new records, predominantly positive ones. However, the bottom line was not where I would have liked to see it. There is definitely more work to be done, but I feel like we are moving in the right direction. What To Expect From Episode 141 There have not been many months where I felt like all the trucks and drivers were running on all cylinders, but they certainly were in October. On average, the trucks ran almost 12,000 miles, all of them over 10,000. I don't think that has happened since we have had more than two trucks. Check out the numbers for the month: Total miles ran– 128,771 (Almost 20k more miles than we have ever run) Deadhead miles– 11,398 (8.9%, The highest we have had in a while, there were some really long deadheads) Total revenue– $274,59 All-in rate-per-mile– $2.13 (Highest in 4 months, only 2 months this year that were higher) Haulin Assets realized a small profit of $8,781.56. I was hoping for better, I would have like to have seen closer to $30k. Many mickle make a muckle, we have more mickles to make. One of the positives of a hard market/economy is it forces you to be better as a company. We have made a lot of changes that I think are good changes. It's clear that there are additional adjustments we need to make. Those adjustments will help us get through these tough times and will make us that much more profitable when the market takes a positive turns. HERE ARE THE P&L ITEMS WE DIVE A LITTLE DEEPER INTO: Payroll was higher because of the extra miles Last work comp extra payment from our audit – $2,900 IFTA o    Oregon $2,000 o    NM $500 o    KY $200 o    UT $500 Repairs o    $8,000 Truck 02 – It's these kind of repair bills that add proof that older trucks can be a money pit. o    $4,000 Truck 07 – Worn wiring harness from rubbing, not under warranty, but hoping to get some back. $3,500 of it was towing. Barely over 1 year, a wiring harness shouldn't rub. I hope freightliner will do the right thing. Over the past 6 months, our outbound loads have shown significant improvement, particularly the last 3 months. The rates we are getting are respectable. We are getting sent to the same areas more regularly. This consistency will enhance our understanding of those lanes and enables us to build relationships that contribute to more profitable outcomes when operating in those regions. Here are a some things we are going to be working on next: Better understand what routes will get us home more profitably and quickly Since our most profitable loads are the ones leaving Utah, we need to get back to Utah quickly We need to start making more contacts with shippers in those areas we are traveling to on a more frequent basis so we can work our way back with direct shipper loads October brought a mixed bag of achievements and challenges for Haulin Assets. While we managed to break the losing streak and witnessed positive records in various aspects, there's an undeniable sense of room for improvement, particularly in the financial realm. The month's financials didn't quite reach the desired mark, but the positive strides in operational efficiency and increased average mileage per truck indicate that we're on the right track.

I have some good news and some bad news.... October is going to break some records, in a good way. Before we can get to October, we have to get through September, which broke a record in a bad way. What To Expect From Episode 140 September is our 4th month in a row with a loss, but I am pretty confident that streak is going to end with October. The freight market continues to struggle and so does our bottom line. Here are the numbers for September. Total miles ran– 103,808 (We essentially had one truck sitting in September) Deadhead miles– 7,021 (6.8%) Total revenue- $198,099.60 All-in rate-per-mile- $1.91 (really bad, again) Haulin Assets realized a loss of $49,554.61. We did finally sell Truck 01 and $23,001 of that hit the P&L as other income, so the true loss was slightly more palatable at $26,558.11. There is a lot to digest in this P&L. Here are some of the things we discuss in more detail. Damages An extra payroll Hiring costs Work comp audit Maintenance and repairs

Normally this episode would be a financials episode, but I have had a crazy couple of weeks and am up against a flight and won't have time to finish the books for September before it's time to record. Last episode I mentioned that we have a bit of a change in the works and that's what we are going to talk about. Haulin Assets is going to bring dispatching in house. What To Expect From Episode 139 Your 20 Dispatch has been with us since day 1 and has been a huge part of our business. I wouldn't know how to slide tandems if it wasn't for Jake. It just makes business sense for us at this point in our business to bring dispatching in house. We have known for a while this day would come and have been communicating about it for a while. To make the transition easier on both of our businesses, we are going to do it over a long time. The plan is to transition 2 trucks per month for the next 5-6 months. That will allow us time to build good processes and it will prevent a big shock in Jake's business as well. If you are interested in using Your 20 Dispatch, give Jake a call or shoot him an email, his contact info is (208) 717-1681 or jake@your20dispatch.com. Here are a few of the topics we touch on: Minimizing driver impact Sharing workload Learning process Future podcast episodes Handling direct shippers This is a bitter sweet change. In the long run, I think it will be good for our business and great for the podcast. 

"Many a Mickle Makes a Muckle" is an old Scottish phrase. It was popularized in the United States by George Washington, but he actually got the phrase wrong. I'm not going to explain how here, to learn about his mistake, listen to the episode. The phrase basically means many little things make a big thing, or many little changes will have a big impact. If you want to hear the phase being said with a Scottish accent, click here. What To Expect From Episode 138 I think this is a great episode with some really good wisdom. I hope you like it as much as I do. Many a mickle makes a muckle is probably more true in the trucking industry than any other. Money is made from pennies on the mile. Lots of pennies and lots of miles add up to something big. If you have been following the financial episodes, you know that the last several months have been a real financial struggle for Haulin Assets. There is no silver bullet to solve this problem. Fixing it is going to take a lot of little tweaks and changes that together will have a big impact on our bottom line. Over the last couple of months we have been working on making those tweaks. Here are some of the little changes we have been or will be making to realize the big impact we so desperately want to have. Changes we are already making: Regular visits to customers Shaving costs off our fuel expense Management driving more often Revisiting how and where we get tires Getting our vendors on 30-day terms to improve cash flow Being more deliberate about all our expenses Load analysis Following up on warranty claims Staying on top of our A/R Changes we are are in the process of implementing: Reducing the down days of our trucks (I hope this will be on the larger side of an impact) Getting some direct shipper backhauls Being more efficient in the office, maybe use a TMS (Transportation Management System) Doing minor repairs and maintenance ourselves Constantly reevaluate all we do Consistently find time to work on the business, instead of just in the business We have a bigger change that is likely to happen in the not too distant future, but there are some pieces that need to fall into place before we are ready to make an announcement. Stay tuned! Making lots of little changes is hard. It requires patience, dedication and a willingness to be deliberate in all you do. That is not easy, but people who are willing to do that are usually the people who are successful. Jump on the wagon with us, let's go down this path together and work diligently on solving this problem. Impact Tip Go find many mickles. Lots of little changes can have a big impact on your business. Go find a bunch of little things you can do to improve; that together, will have a big impact.

I start off this episode talking about an overside load crash here in Utah that could have been catastrophic. It was a totally preventable crash and resulted because of what I would call extreme negligence. It's an interesting story and one of those situations where we should all learn from someone else's mistakes. It is easier that way. What To Expect From Episode 137 It was another tough month, but I am seeing more and more signs that we are turning the corner. I have my fingers crossed that we are almost to greener pastures. Total miles ran– 100,053 (Less miles, two trucks sat the entire month) Deadhead miles– 7,421 (7.4%, about the same as last month) Total revenue- $199,337.87 All-in rate-per-mile- $1.99 (bad, but $0.13 better than last month) Haulin Assets realized a loss of $25,755.42. Here are the things we dive a little deeper into on the P&L: Fuel, it's getting bad again Work comp, we are playing catchup from an audit Maintenance, lots of tires Oregon use tax Repairs, highest number I remember seeing

National Truck Driver's Appreciation Week is almost upon us, so we thought it would be a good time to do an episode that is a tribute to the truck drivers of America. Before we hit the main topic I talk about my most recent trip on the road taking a load to Phoenix. Let's just say it wasn't the most smooth run I have ever done. You'll have to listen to the episode to hear all the juicy details. What To Expect From Episode 136 Trucking is one of the most demanding and important jobs in the United States. This is one of the best times of the year to show our appreciation for what drivers do because this Sunday, September 10th, is the beginning of  National Truck Driver's Appreciation Week. The American Trucking Association's theme this year is, “Miles of Gratitude”. What do you think that means? We have some ideas that we share during the episode. The trucking industry is one of the most critical industries in our country. Without us the economy would grind to a halt within a matter of days.  Here are some cool statistics that came from the American Trucking Association: $940.8 billion in gross freight revenue from trucking, that is 80.7% of the nations freight bill in 2022. 46 billion tons of freight hauled, that is 72.6% of the total domestic tonnage shipped. $29.12 billion paid by commercial trucks in federal and state fuel taxes in 2021. 48 billion miles traveled by single-unit and combination commercial trucks in 2021. That's 3,521 trips to the sun. 62 billion miles by combination trucks, tractor and trailer. 750,000 active motor carriers.8% operate 10 or fewer trucks. 7% operate 100 or fewer trucks. 54 million truck drivers Craig and I also talk about some of the things I really like about driving and what we appreciate about truck drivers. If you ever have any doubt about how important trucking is, just look at what happened to trucking verses many other industries during the COVID pandemic. We share some pretty cool comparisons that should make any truck driver proud. To Larry, Trudy, Tyler, Shelly, Jeanie, Thomas, Paula, Charles and Joel, the current Haulin Assets team of drivers and to the rest of you 3.54 million drivers out there my family and I would like to thank you from the bottom of our hearts for all you do to help this amazing country be what it is. Thank you!

One of the most challenging things for me to do when I was on the road was to maintain good health and fitness. Especially during the winter. My recent trip was a good reminder of that and I want to share some of the things I do while I am on the road. What To Expect From Episode 135 Health and fitness can mean a lot of different things, during this episode Craig and I are going to focus on 3 different aspects nutrition, mental health and fitness. The biggest keys to be successful in any one of these areas, is to first prioritize your time on the road and second to think ahead and plan. As we discuss on the podcast, my priorities while on the road are: Delivering my load safely and on time. A) Administrative business tasks 2B) Fitness Sleep Time preparing meals There are things, like my family and my mental health that are important to me that aren't on the priority list. That is because they are things I can do while driving, so I don't feel like they compete as much for my time. Nutrition The hardest part of eating on the road...   Head here for the full show notes. 

Another tough month. June, July and August are some of the harder months of the year. The months with losses are really getting old. It can be discouraging. The economy and the freight market have always had peaks and valleys, good times and bad times. That is predictable, we know we are currently in a valley, but we also know it will get better and we will see good times again. Meramec Solutions is the sponsor for this episode. If you have any need to hire drivers, they are a great option that we have used several times at Haulin Assets. We have had great success using them. You can learn more by visiting their website, click here. It never hurts to give them a call to see if they are a good match for your needs. What To Expect From Episode 134 How do you get through the hard times? If you have listened to this podcast very long, you know I am in the Utah Army National Guard. I had drill over the weekend and as part of it, did a 6 mile ruck march carrying 35 lbs of gear in the mountains of Utah. That weight isn't really that bad, I have done much worse over much longer distances with a lot more weight, but it reminded me of some of the harder rucks I have done. How do you get through those when your body is screaming at you and you just want to be done, you put one foot in front of the other, and that's what we are doing now. It's not fun, but it will end at some point and life will get better. Perseverance brings rewards. Total miles ran– 105,356 (More trucks on the road, but less miles. Several drivers to more time off than normal, it's July) Deadhead miles– 7,949 (7.5%, on the high side, have to drive further to find loads) Total revenue- $196,152.07 All-in rate-per-mile- $1.86 (really bad) Haulin Assets realized a loss of $11,890.75.    Items we cover about the P&L: Maintenance and many more tires IFTA and use taxes Repairs Let's pray this doesn't last much longer. On a positive note, we did just finish up a load for a new shipper and it went well.

Check out today's sponsor, Meramec Solutions: https://meramecsolutions.com/hirenow   It's no secret that trucking is really tough right now. That fact has caused me to do a lot of thinking lately about what can I do to help get Haulin Assets in a healthier place. One of the things I decided to do was look at the loads we have been hauling to see if I could find any positive or negative trends that we could improve on. In this episode, Craig and I are going to take a look at what I have found. What To Expect From Episode 133 Anytime you hear the word analysis you have to get excited because you know there is going to be a spreadsheet involved. First thing I did was went into our accounting system and pulled a report of all the loads we did in April, May and June of this year and exported the data to a spreadsheet. The spreadsheet included: Broker's name Date the load was delivered/invoiced Invoice amount Then I added the following items for each load:Loaded miles Deadhead miles Total miles Direction of travel (Outbound, east to west, or other) Direct Shipper or Broker Once I did that, I singled out all the shippers and the brokers we hauled at least 4 loads for. They are who I wanted to focus on. Then I did some spreadsheet wizardry with some formulas to calculate the following for each company I had singled out to determine: Percentage of loads hauled Percentage of revenue Percentage of miles Loaded rate per mile Total rate per mile I lumped all the remaining loads into one category and calculated the same items for that category. I'm going to call that category "Everything Else" and use it as our average. You can download the spreadsheet I used here. I changed all the brokers and shippers names to something generic. Taking a look at our loads and our relationships at such a detailed level was very insightful. There were a lot of lessons learned that are going to result in some changes we are making. Craig and I talk a lot about what those lessons and some of the changes we are going to make during the episode, so be sure to listen. I think an exercise like this can benefit any business. Some self-reflection is always a good thing.

Check out today's sponsor, Meramec Solutions: https://meramecsolutions.com/ The roller coaster continues. We were pretty high last month, that means we're pretty low this month. Before we dive into the numbers Craig and I talk a little about some analysis I have been doing on the brokers and shippers we have been hauling the most for. I think it is going to help us focus in on relationships we want to develop and others we might want to let go. I think you'll see an episode on this subject in the next couple of months. We got Truck 12 on the road in June, that's exciting. What To Expect From Episode 132 I'm glad I didn't get too comfortable making a profit. We definitely swung the other way this month.  Total miles ran– 109,092 (Record, 10.25 trucks, 10,643 miles per truck. Not bad.) Deadhead miles– 6,837 (6.3%) Total revenue- $200,773.11 All-in rate-per-mile- $1.90 (I removed Truck 12's numbers from this, because the mileage was out of proportion with the revenue since it started at the end of the month) Haulin Assets realized a loss of $23,461.08. There are several things that made the loss as bad as it was. Rates still suck, that is probably the biggest issue. Close behind is that we added Truck 12 in June. Here are some of the P&L items we discuss during the show: Why payroll expense was so high Fuel was $6k more than May and was 33.4% of revenue Maintenance was high Tow bill for truck 08 About $2k in expenses getting 12 on the road

In business you have to expect the unexpected and sometimes you get pleasantly surprised. After months of disappointment, a good surprise was a breath of fresh air and put a smile on my face. By no means are we out of the words yet, but I am starting to get more and more confident we have hit bottom and may even be on our way back up. What To Expect From Episode 131 For the first time in a while I am excited to show the numbers to everyone. So, without further delay: Total miles ran– 102,460 Deadhead miles– 8,361 (8.1%, higher than it has been) Total revenue- $227,809.76 All-in rate-per-mile- $2.23  (I don't think June is going to be as good, but it should be better than April was) Haulin Assets realized a profit of $46,444.56. The best profit number we have seen since early 2022. Again, I think there were a lot of aligning of the stars that made May look better than it realy was, but I'll take it. Hopefully this is the beginning of the upward climb, it's going to be a slog, but as long as we are moving in the right direction, I'm okay with it taking a bit to get to where we want things to be. Here are some of the things we discuss in more detail as we breakdown the P&L Statement: A negative number in damages, how does that happen? Fuel was 27.2% of revenue, the best we have seen since the beginning of 2022 and in the normal range. Fuel prices seem to be stabilizing a bit. Hiring cost of $1,000 If you remember last month, WC was high because of a Down payment for a new policy, we ended not having a payment this month, for some reason and we also received a refund from our old policy. Everything else was pretty vanilla

FuelStream can help you save money on fuel! One thing I have always been pretty sensitive about on this podcast is making the podcast feel like it is a promotion for some of my other businesses because that is not the point of the podcast. I feel like we have done a pretty good job of that, up until now. This episode is going to be a bit of a shameless plug for a business under the Motor Carrier HQ family that we have not talked about. And you know what, I feel really good about doing it because I think this is a service that can be super beneficial for just about anyone out there. What To Expect From Episode 130 The FuelStream system has been in the development for over 2 years and has come about because of my time on the road and the challenges of keeping my fuel costs as low as possible. When I was driving I found that it took too much time and was way harder than it needed to be to save money on fuel. During this episode we bring on two guests, Raff and Christian from FuelStream to discuss how the FuelStream system, an app and card can help you save money on your fuel expense. Here are some of the things we talk about: Speed and acceleration Idling Negotiating fuel pricingThe monthly and per gallon savings will blow your socks off Easy and effective fuel planning using the FuelStream AppThe card teams up with the app to make it easy to find the best fuel prices you have probably ever seen Don't just take our word for it, we also bring on some clients and listeners who share some of their experiences using the FuelStream system. Special shout out to Jason and Kim, Doug, Corey and Kent for sharing their experiences with us. And a big thank you to all the FuelStream clients who have been with us the last couple of years as we have built FuelStream into what it is today. Sometimes it isn't easy being the guinea pig but you all have helped us build something that we hope will help many more people and we can't thank you enough. Raff mentioned a special offer to the Haulin Assets family where you will get a $50 rebate after you use the card for the first time. More details are available by clicking here and filling out the contact form and entering promo code: PODFREE50. You can also call (385) 264-7610 to learn more.

Craig and I start off this financials episode by talking about one of the things that has the biggest impact on just about any business's financials, sales. We have been doing some work to get more loads directly from shippers. Building new relationships with shippers is all about sales. We talk about the sales funnel and how sales is a numbers game. Every healthy company does some kind of selling and we hope you learn something new from this discussion. What To Expect From Episode 129 I'm feeling like a broken record. The freight market continues to be tough and our numbers are not fun to look at, but sticking your head in the sand like an ostrich is even worse. Before we jump into the numbers Craig and I discuss a couple of the things that help get through the challenging times. It's a good discussion and worth listening to, especially if you are like me and could use something to help you refocus. Total miles ran – 97,331 Deadhead miles – 5,239 (5.4%, not bad) Total revenue - $177,508.38 All-in rate-per-mile - $1.82 (The worst we have seen in years, probably since I was driving) Haulin Assets realized a loss of $8,221.70. No sugar coating this month. May is going to be more of the same, but things did get a little better towards the end of the month. Not sure yet if that was temporary because of Memorial Day or if it will turn into a more permanent improvement. Impact Tip Build the leads in your funnel. Find at least 10 shippers you call to get your funnel started. Once you have gone through them, reevaluate and improve your process and do it again.

Before we dive into the past, present, and future of the freight market, we talk about a big change we made . We hired an operations manager. It is a huge step for a company like ours, especially as small as we are and considering the freight market we are in. Craig and I discuss why we thought this was a smart decision, even though on the surface, it may seem like a dumb one. What To Expect From Episode 128 The freight market has been really tough for a year. When is that going to change? In this episode, Craig and I discuss some of the factors that drive the freight market, what usually makes it change, and when we think that it will start to turn. We finish off the episode by talking about the two key things any trucking company needs to focus on to get through times like this. Full show notes (with charts!) at https://haulinassetsllc.com/

We had one truck sitting for the entire month of March, that definitely had an impact on things. The infamous egg load occurred around the end of the month. It will have more of an impact on April's numbers than it did in March. Needless to say, March was an eventful month. We talk all about it during this episode. Make sure to give it a listen. What To Expect From Episode 127 The tough months keep racking up. With that being said, it could have been worse, we were positive and at least moving in the right direction. The weather was a bit better in March and so far April has been much better. I'm done with winter. Here are the numbers. Total miles ran – 99,992 Deadhead miles – 6,736 (6.7%, creeping up, indicator of a tough freight market) Total revenue - $201,659.00 All-in rate-per-mile - $2.02 (The worst we have seen in years, since the start of COVID) Haulin Assets realized a profit of $9,848.55. I am actually surprised we made a profit based off the average rate per mile. Our direct shipper relationships are making a difference. An owner operator could probably survive in a market like this working only off the spot market, but anyone with employee drivers I don't think would be able to. We're keeping our hook in the water so we'll be able to take advantage of a stronger market when the fish are ready to bite.   Website: http://bit.ly/haulinassets Facebook: https://www.facebook.com/haulinassetspodcast/ iTunes: http://bit.ly/ha-itunes Google Podcasts: http://bit.ly/ha-google-podcasts Stitcher: http://bit.ly/ha-stitcher   Motor Carrier HQ: http://bit.ly/motor-carrier