Haulin Assets

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 Cons Leased Owner Operator Pros Cons Other considerations Independent Owner Operator Leased Owner Operator

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: 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 ReviewUniversity 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: Haulin Assets realized a baby profit of $2,046.87. Here are the P&L items we talk about:

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 The Art

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... 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...... 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: 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. 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: 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. Ring CentralNextivaDATITStruckstop.comMotiveAdobe Fill and Sign Mobile AppNational Weather ServiceWY, I-80ORWANEEvernote

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: 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. My Process For Calculating Haulin Asset's CPM I dive into the mechanics of how I do it. Here is an overview: 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: 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: o Oregon $2,000 o NM $500 o KY $200 o UT $500 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: 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. 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.

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: 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: Changes we are are in the process of implementing: 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. Haulin Assets realized a loss of $25,755.42. Here are the things we dive a little deeper into on the P&L:

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: 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: 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. Haulin Assets realized a loss of $11,890.75. Items we cover about the P&L: 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.