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Owning Your Success Newsletter
Greetings!
You may have received this newsletter in the past. If you have signed on with the OS Program or ATBS then you are receiving this newsletter as a benefit of the program. It will come on a bi-monthly basis to your inbox. If you are on the program without an email we will mail you the newsletter but suggest email as the preferred method of delivery. I hope you find the tips helpful in helping you maintain a successful transport business, remember your success is our success!
"Success comes to all those that make the effort to attain it." Bruce Outridge
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How Much is Your Negligence Costing You?
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Being an owner operator brings a whole new meaning to the word mistake! When you are a driver or employee you can make mistakes and usually the company will take care of the problem. You may get a little flack, but in the long run it will be more like a slap on the hand. Employees usually think to themselves, "The Company has lots of money, it's no big deal." The truth is every amount spent is a big deal, you just don't see it. Now I'm not talking about large incidents like accidents, property damage, and so forth, I'm talking about things like picking up the wrong trailer at a customer site, or forgetting to count the freight on your load and having to pay for the shortage of a box or two. These are the little things in the scope of life that go unnoticed most of the time, unless of course you have to tell your boss about it. When you're an owner operator however that becomes a whole new ball game. Most companies won't just suck it up. If it is a large amount it may go to the insurance to be covered but realize that most deductibles on policies are quite high for most companies so the bill gets paid directly. If the company decides to charge you back for the incident then that directly affects your bottom line. Now the way most owner operators run it won't take much for their bottom line to be thrown into to oblivion. So how much is that mistake worth? How much can your bottom line suck up before you go out of business, miss a truck payment, or just plain give up? I'll give you an example of what I mean. A team took a load down to Miami, delivered it and got their instructions for picking up the return load. They hooked up to the trailer in Miami and started on their way back. The trailer they hooked onto was an older unit and the numbers had started to wear off. What looked like a one was actually a worn seven. Arriving at their destination they found there was someone else's freight on the trailer. The team had to return the trailer to Miami, was not paid for the load, but still used fuel driving there, and had to wait two days for another load. How much did that impact their bottom line? How much did that impact the customer? Now a couple things went wrong that could easily have been corrected. The first thing is that the trailer should have been reported as having worn numbers so that it could have been fixed. The team should have checked their original instructions from dispatch against the load they picked up and also have double checked the number if the trailer was so worn out. The shipping paper number would also have given them a cue to the fact that they had the wrong trailer. Double check your paperwork and equipment, because it saves all kinds of problems later on. It may seem like a pain at the time, but can save you a lot of money down the road. As an Owner Operator it is your job to make sure you are running profitable and the minor mistakes may be costing you your business. Remember you are the one in control of your business; own it as if it is your lifeline. By Bruce Outridge
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Improving the Engine of Your Business
As you know it doesn't matter how many bells and whistles you add to your truck without the most important part the truck it will not move one inch. The engine in your truck is the most important component of the truck and without it you have nothing. So when you buy a truck some of the information you require to make a sound decision is life history, miles acquired, wear and tear analysis, oil samples, and so on to make sure your engine will last you for the time that you need to get out of it. This information along with other drive line component information is vital to your success. Once you have decided on a truck usually you would buy some type of warranty as part of your purchase to make sure you are covered if a break down occurs. This my friend is smart buying and good business sense. So lets switch gears a little bit and apply this to your business.
As an Owner Operator you are the engine of your business, take you and your operation out of the business and again you have nothing, you have no business. Like the engine of a truck you are the engine of your business and are required to be in good shape to keep the business running for years to come. You need to look at the components of your business when starting up just like those of a truck. You took a look at the engine oil when buying the truck so you should take a look at your health to make sure it is in good shape, that is your oil sample. You looked at the mileage of your engine and wear and tear so you should look at that in your experience with business and analyze where you may need help. When you finally made the purchase you also took out a warranty to make sure you were protected from a breakdown. You should do the same thing with your business and buy the appropriate insurance coverage. When you were becoming an Owner Operator you looked at certain things before jumping into business, the first being decent equipment, the second being a sound company to lease on with, and the last the commitment to do the job.
Since you have worked hard to get the right truck, don't you think you should work equally hard to create a successful business. You bought decent equipment, leased on with a sound company, and committed to the job. So what do you need for continued success? You will need a decent accountant, a smooth operation, and possibly a business consultant to help you make the right decisions. Adding those components to your business engine will ensure you have a successful career as an Owner Operator.
Don't be one of the many business owners that work hard at the beginning but then let the operation of the business fall down after the initial excitement has gone. You wouldn't spec an engine perfectly to forget to put oil in it down the road, so don't do that to your business engine.
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Bruce's Business Tip
Be like a camera, take a snap shot of your business. It is easy for business owners to get wrapped up in managing the day to day operations of the business. To make a business grow however, requires working on your business. Start by taking a snapshot of your business either with a consultant or by reviewing your goals and business plan and create a plan to move forward. This is important no matter what size of business you have.
Bruce |
Referral Program

Did you know you can earn rewards just for recommending somone to the program. Here is how it works: Recommend someone to any level of the OS Program and when they sign up I will send you a $25 gift card. Make sure you tell them to say your name when signing up so you can get the reward. To receive the reward they must sign on with Outridge Consulting Services
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Social Media
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Copyright InformationAll articles in this newsletter are copyright of Outridge Enterprises Inc the parent company for Outridge Consulting Services.Please respect article copyright laws.
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