Haulin Assets

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 [email protected]. 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

If you are trying to grow a fleet of trucks, I can just about guarantee your biggest challenge is hiring good drivers. With a nationwide shortage of about 80,000 drivers and a driver turnover rate close to 100%, hiring and keeping good truck drivers is extremely difficult. How does a growing carrier not have their lunch eaten by the big guys when it comes to recruiting? That's what we'll cover in this episode.... After we talk about a recent load of eggs we hauled that had some challenges and ended up with a big mess to clean up. What To Expect From Episode 126 Finding the type of drivers we look for at Haulin Assets has always been a challenge. That challenge got a little easier when we started working with Jake, our guest on this episode, and he helped us start recruiting on Facebook. Here are some reasons to use Facebook as a recruiting tool: 96% of truck drivers have a Facebook account On average, Facebook users spend 33 minutes a day on the platform It's the #1 platform for user engagement 73% of seekers found their last job through social media Here are the general topics we cover: What is currently generating interest in your positions and how do you leverage that? What needs to be in place before launching ads, i.e. Facebook Business Manager, Facebook Ads Manager, etc? Who is your target audience? What content do you need to create and the basics of how to do it. How many applicants do you need? What is your plan after launch? Best Practices Make ads mobile friendly Use images and video Have patience Driver testimonials are gold Use web automations to increase the speed to contact Facebook is a piece of the pie Common Mistakes Failure to declare your ad as a “special ad category” Poor image sizing Using stock images Not running ads through the Ads Manager Not staying up to date on policy changes implemented by Facebook Check out Meramec Solutions here

Being financially smart is less about intelligence and more about having a plan and being disciplined. I think being a rocket scientist verse running a marathon is a good comparison. Having a high financial IQ is more akin to preparing for a marathon than being a super intelligent person. Not everyone is going to have the intelligence necessary to be a rocket scientist, but I think just about anyone can get to the point where they can finish a marathon. It might take years to get there, but if you have the desire and discipline, almost anyone can run a marathon. Anyone with the desire and discipline can be financially smart and gain financial freedom can do it, but in almost every case it will take a good portion of your lifetime to get there. In this episode Craig and I are going to cover steps anyone can take to be financially smart and eventually gain financial freedom. What To Expect From Episode 125 One of the first books I ever read that had a big impact on my financial IQ is an older book called, "The Richest Man in Babylon" by George S. Clason. It's a great book, that teaches simple financial principles that are easy to understand and he does it in an entertaining way. You can learn more about it by clicking here. Most of what we are going to talk about is not trucking specific, but we will try to relate some of it to owning a trucking company. Here are some of the principles we'll cover during this episode: Believe YOU control your own destiny (This is one of my own principles and I think it is the most important, listen to learn why) Increase your income Manage your expenses Reinvest your earnings Is your home an investment? (My answer to this question might surprise you.)

Things have been a little hectic for me the last couple of weeks. That means this episode is not as robust as I would have liked. There is some great info in it, so I think it is definitely worth a listen. What To Expect From Episode 124 February ended up being better than I thought it was going to be, but definitely not a good month. At least we didn't lose money. Craig and I dive into how things went this month. I also talk a little about insurance because our insurance renewal is coming up in April. Less than a month away by the time this episode posts. Total miles ran – 83,391 Deadhead miles – 4,142 (5.0%, Decent) Total revenue - $184,606.48 All-in rate-per-mile - $2.21 Haulin Assets realized a profit of $7,279.94. The P&L for the month was fairly bland, but there are a few specific things about it that we go over.

I have been asked to do an episode on how we spec our trucks by several listeners, so here you go. It's a complicated topic full of lots of different opinions and there is more than one way to skin a cat. I would love to hear your opinion on things, comment here or on the Facebook post for this episode. We have now purchased 9 brand new trucks from two different dealers and two different makes. We have learned a lot along the way, but as I have prepared for this episode I have learned even more. I challenge you to never have the mindset that what worked for you yesterday is good enough for you today because trucks are constantly changing. This is a topic that a good owner will never stop learning about. Stay on top of the technology. As engines change, the best gear ratios change, etc. I hope you like the episode and learn something new. What To Expect From Episode 123 As I mentioned, speccing a truck is something everyone has an opinion about and they are all different. It's good to do your research so you can make the best informed decision possible. This is one area of your business it is good to spend a little extra time on to make sure you get it as close to right the first time as possible. There are a few things we did differently on our 2nd and 3rd new trucks than we did on the first new truck, like ordering a TV mount and inverter from the factory. Doing them aftermarket was just a pain. Here are the main topics we are going to cover: The engine The transmission The rear axle Items that affect the weight Driver comfort APU Extended warranty Below you can see the document from the dealer that has exactly how our most recent trucks are specced. It's just some light reading, great to help put you to sleep.

We had one of our best months in quite a while, but honestly, I am a bit disappointed. I though it was going to be better. Right at the end of the month, I-80 in Wyoming was shut down for several days because of weather and a big 50 vehicle pileup. That resulted in several of our loads that should have delivered in January being delayed and not arriving at their destination until the beginning of February. On a positive note, that will probably make February's numbers better than they would have been. If you haven't ever used this website, check it out. It is a good way to see what is happening on the major roads in Wyoming. What To Expect From Episode 122 We had all 10 trucks running in January for the first time. In fact, it was the first time in over a year that we have had all of our trucks running for an entire month. What does that mean, we broke some records. Check it out: Total miles ran – 101,915 (Record, but weather had a negative impact) Deadhead miles – 5,739 (5.6%) Total revenue - $215,780.06 (Record, but should have been $20k higher) All-in rate-per-mile - $2.12 (Yuck!) Haulin Assets realized a profit of $21,131.69. Our saving grace was that we had all trucks running for essentially the entire month. The longer I have been doing this the more I realize that we need to have the wheels turning as much as possible. A sitting truck is a money pit.

Whether you are an owner operator or a fleet owner, Worker's Compensation or Occupational Accident Insurance is something you will have to deal with. They are two different types of insurance, that are for a similar purpose. The basic concept is the same from state to state, but each state has some differences. Make sure you figure out what your state's differences are so you follow the law. A good place to start is your state's office that oversees this type of coverage, you can find their contact info here. Having one of these types of insurance usually is the law and most states audit it. What To Expect From Episode 121 According to NIOSH (The National Institute for Occupational Safety and Health), Worker's Compensation Insurance is used to provide partial medical care and income protection to employees who are injured or become ill from their job. The concept is simple, the rules behind it are not. If you or one of your drivers is injured while working for your business, this type of insurance will help cover some or all of their medical expenses and typically give them a small wage while they are not able to work. We'll cover a lot of details during the podcast, but here is the bottom line. Most states require you have either Worker's Compensation or Occupational Accident Insurance if you are an owner operator. If you have employee drivers, you typically have to purchase Worker's Compensation Insurance. As an example, the way Utah works, if you are an owner operator, you can opt out of worker's compensation by paying a $50 annual fee, submitting a waiver form to the Utah Labor Commission and showing proof that you have Occupational Accident Insurance, which is cheaper, but will still cost you money and provide some coverage. One of the big topics we cover is how much the insurance costs and that answer varies, A LOT. Worker's Compensation for a truck driver is way more expensive than it is for an office worker. The type of work you do is the biggest determining factor, the other two main factors are how much you pay in wages and the number of claims you have had. If you are a brand new company, they use a generic factor to calculate the claims part. We cover this in more detail, so be sure to listen. Some other good options for learning more about Workman's Compensation and Occupational Accident Insurance include: Your truck insurance agent, they can usually get you the coverage and tell you all about it. Search Engines. Google is pretty smart, google worker’s compensation in (put your state here) or Occupational Accident Insurance in ..... and you will learn a lot. Your state's Division of Insurance Don't try to skirt the system. If you don't follow the rules you can get fined or sued. Worker's Compensation coverage is one of the biggest reason companies that try to use 1099 contractors instead of employee drivers get sued by their drivers. Impact Tip Get your hook in the water. This impact type is brought to you by Chet, my much smarter than me brother. People have been asking a lot if now is a good time to start a business. The answer to that question depends on you. I would say your success in starting a company is 80% you and your preparation and 20% the economy and other factors out of your control. I have seen people start trucking companies when the economy is down and freight rates are terrible and succeed. I have also seen people start a trucking company when the economy is booming and freight rates are awesome and fail. The owner’s ability and their preparation are the difference maker. If you are prepared and ready, do it. If not, wait. There is one thought I would like to add to that for you to consider. Do you like fishing? When you are fishing you want your hook in the water when the fish start biting. If you wait unitl the fish start biting to find your rod, get all your gear and bait your hook, by the time you are ready and cast your hook in the water, you will have already missed some or all of the action. To catch a fish, you hook must be in the water.

When I first pulled the profit and loss statement for this month, I was disappointed because the profit was lower than I was hoping. Then I dove into the numbers and felt much better. All-in-all, this is actually one of the best months we have had in a while. Craig and I will go over all the details so make sure you listen to learn what made the difference. What To Expect From Episode 120 We start off the episode by talking about a driver we let go at the beginning of the month. We learned some lesson that we'll discuss that will hopefully help you avoid some of the same mistakes. Here are the highlights for the month. Total miles ran – 80,998 (A new record, celebrate the wins) Deadhead miles – 4,937 (6.1%, Decent) Total revenue - $194,233.65 (Much better than the last two months, also a record, but we need to keep working on pushing that number higher) All-in rate-per-mile - $2.39 (Getting closer to being respectable) Haulin Assets realized a profit of $7,746.33. Not where we want things to be, but when we break down the P&L you will see why, the number is really better than that. Overall, I would say this was our best month in quite a while, especially considering Christmas week and that rates really were not that good for a December, really for any month, let alone December. We also had quite of few anomalies this month that we talk about during this episode.

This is an episode, comparing the profitability of a new semi-truck verses a used rig has been a long time coming and is one people have been asking for. I have been super excited about doing this since the early days of Haulin Assets. This was an eye-opening deep dive into profitability for me and to say the least, I am pretty shocked with the results, the difference was bigger than I thought it would be. I have some really good data and hopefully you feel like it has been well worth the wait. What To Expect From Episode 119 Everyone's situation is different so we are not going to answer this question for you. We are going to give you some really good data and analysis to help you make the right decision for yourself. You are going to have to listen to the episode to get all the details. I highly recommend you listen to it while following along with the P&L below, it will help things easier to understand. Here are some of the most interesting topics we will be covering. The difference in fuel expense. This one really surprised me. Insurance Interest on loans Maintenance Repairs Operating Income vs Net Income Depreciation. We take a bit of a deep dive into this one. We also cover some pros of new trucks and some reasons it might make sense to buy used.

Every month that goes by I tell myself we are closer to getting through this rough patch. I am really optimistic that we are either at the bottom of the valley or very close to it and by March of next year we will be climbing out to better times. I'm not sure how steep that climb will be, it may be gradual, but at least we will be moving in the right direction. What To Expect From Episode 118 We start off the episode by talking about some recent meetings we had with shippers and some of the lessons we learned. Make sure to listen because it will have some really good information for any owner operator or fleet owner. November was better than October and I think December will be better than November. Craig and I talk through the numbers for the month, but here is a snapshot. Total miles ran – 77,557 (Close to our best month, but still not where it should be) Deadhead miles – 3,162 (4.1%, really good) Total revenue - $169,215.25 (Much better than last month, but still almost $20k down from our high) All-in rate-per-mile - $2.18 (Still tough, but slightly better than it was last month) Haulin Assets realized a profit of $5,015.91. Not where we want things to be, but better than a loss. With 9 trucks running, I would like to see that number consistently over $30k. A couple of the things we talk about regarding the P&L are: A $2,000 hiring expense Fuel, 45% of our revenue, yikes! Impact Tip Go talk to 5 new shippers within the next two weeks. When you meet with shippers you are doing sales. I have a lot of experience in sales and sales is a numbers game. For example, for every 10 phone calls you make, you may get 3 face-to-face appointments and out of those you may get 1 sale. A big chunk of sales is having the discipline to make the "cold calls", set the appointments and meet with people. If you do that consistently, the sales will come.

To start off the episode I tell a story about a problem I have never faced with one of our loads and answer a question I get asked all the time by people who are in the process of starting a trucking company. After that, Craig and I talk about the crazy month of October. What To Expect From Episode 117 October was another tough month. We had two trucks sitting and a third truck that only ran about half as many miles as it should have. That put us nearly 25,000 miles short of where we would like to be and was the biggest impact on our P&L. Here are the numbers: Total miles ran – 63,455 (Significant drop) Deadhead miles – 4,495 (7.0%, highest we have had in a while) Total revenue - $134,281.24 (Lowest in 8 months) All-in rate-per-mile - $2.12 (Significant drop, lowest it has been in a really long time. Freight rates were just not good in October. I don’t have November numbers yet, but I am pretty confident November was better, especially the latter half of the month.) Haulin Assets realized a loss of $20,825.09. Two months in a row with a loss. Is the sky falling? I don’t think so. I think all in all we can get by as long as we don't average more than one truck off the road. Hiring drivers in a timely manner is crucial. Craig and I dive into the two main reasons I feel like we had such a big lost, a low number of miles and a freight market that is struggling. We also talk about a few expenses on the P&L that were outside of normal. Fuel Adding Truck 09 Maintenance and repairs IFTA

My favorite episodes are ones where I feel like listeners get some good nuggets of wisdom out of them. I think this is one of those episodes. You are probably expecting a financial review for this episode, but we're not ready and you'll get something else. Instead, we tell an interesting story from the road and we review a book that can be life changing, if you embrace it's principles. What To Expect From Episode 116 I have been talking about the incident that I haven't been ready to talk about for two months, well, I am ready to talk about it. Craig and I discuss a significant issue that occurred with one of our trucks and drivers in September. You'll want to listen to this episode just for this story. On top of that, there is an abundance of good content about a book I just finished that I really loved. I recently finished listening to an audio book that I feel like I really relate to, and it is full of lots of great lessons anyone can learn from to make their life better. The book is "Can't Hurt Me: Master Your Mind and Defy the Odds" by David Goggins. David is a retired Navy Seal and one of the best endurance sports athletes in the world. His life experience and how he views our existence is inspiring and there are lots of lessons we all can learn from the book to make us better at all aspects of our lives. He also issues 10 challenges that we can follow to help us along a path of perpetual improvement. Below I list 6 of my favorite lessons and challenges from the book. I encourage you to read or listen to it. You can learn more about it be clicking here. Comment on your favorite lessons once you have had a chance to pick it up. Life is not fair, don't use that as an excuse and let it hold you back. Create an "Accountability Mirror". It will help you be self-aware and hold you accountable to achieve self-improvement. Get out of your comfort zone. Be willing to work harder than the next person. Remove the governor in your brain. Be uncommon. Craig and I talk about these 6 lessons and challenges and why they stuck out to me. I hope you read the book and enjoy it as much as I did.

Managing your Accounts Receivables well so you are paid promptly by your customers can be the difference between operating smoothly and being tight on cash. We recently had a glitch in our accounting system that prevented a bunch of invoices from being sent out. We didn't notice the problem for several weeks, which delayed payments and almost caused us to have to dip into our savings account so we had money to operate. It was a good reminder that in business invoicing clients and staying on top of your receivables is extremely important. So here you go, I hope you like it. What To Expect From Episode 115 If you have listened to this podcast for very long, you probably know that I also own a factoring company, iThrive Funding. Factoring companies are usually pretty good at managing receivables and I think iThrive Funding does an exceptional job at it. In this episode, Craig and I bring in a guest, Farrah, from iThrive Funding to help share some of the best practices iThrive uses to keep its average days to pay low. Here is a snapshot of what we cover. The Process Gather the paperwork and create the invoice Make sure the invoice and accompanying paperwork are sent to the right place (This is the number one mistake people make) 7 Days after the invoice is sent, send an email that confirms they received all the paperwork and that they have all the info the need to send a payment 25 Days after the invoice is sent, send an email asking for a payment status 35 Days after the invoice was sent you should have received the payment, if you haven't make a PHONE CALL to see what is going on Call every other business day until you have a resolution Tips and Tricks Identify issues early, step 3 is the key Make sure you are sending the invoice to the right place (We explain this one in detail so make sure you listen) Make sure all the paperwork is in order, common issues include:Missing pages of the bill of lading or rate confirmation Scans or pictures of paperwork that are difficult to read Missing signatures Missing BOLs (Bills of Lading) when there are multiple drops Unresolved claims, shortages, etc Free Credit Checks iThrive Funding is offering a free version of credit checks. The website to get the credit checks can be accessed by clicking here. Before you can use the system you have to get in contact with Farrah by calling her at (385) 430-2315 or you can send her an email at [email protected]. She will get you the login information you will need and give you some tips and tricks for using the system. Impact Tip Do something today that will strengthen your personal finances. Why do you put your oxygen mask on before your child’s, even though it is kind of counter intuitive. If you don’t take care of yourself first (If you’re not strong) you can’t help anyone. Same goes for finances. Your personal finances are the adult and your business is your kid. If you can’t manage your personal finances, you aren’t going to be able to manage your much more complicated business finances. If you have bad personal spending habits, your personal finances are going to bleed your business dry. Make sure your house is in order.

Another month has come and gone and it's time for a financial episode. It's a pretty interesting market right now and we start off the episode talking about that. I also mentioned a Soldier I work with who had an accident that is likely to leave him paralyzed from the waist down. If you are able to donate to help him and his family, it would be greatly appreciated. He has a Go Fund Me page you can access here. What To Expect From Episode 114 BLUF (Bottom line up front), we lost money in September, it wasn't much, however we also had a lot of one off expenses that skewed our numbers a bit. We also had two trucks sitting for some of the month so revenue wasn't quite as high as it should have been. This month's P&L was pretty chaotic, Craig and I dive into the details and explain it all. Total miles ran – 78,386 (New record, but still not where it should be for 8 trucks, should be closer to 90k) Deadhead miles – 4,094 (5.2%) Total revenue - $187,637.46 (Record, but should be over $200k) All-in rate-per-mile - $2.39 (Drop from last month, but it is still better than average over the last 6 months) Haulin Assets realized a loss of $5,326.76. This month was really just one of those months that was a sacrifice to the gods of the up and down trucking industry. A lot of things kind of came together, in not such a great way, this month and we lost money. Here is a few of the things that impacted the P&L that we talk about. Bank charges, $2.5k in loan origination fee Damages, $12.5k About $10k in repairs and maintenance, a bit on the high side, but not crazy high $4.5k in HVUT (2290) $500 in travel, refer to the incident that has not yet been named. Impact Tip Try to manage time off. October through December typically have the best freight rates of the year. Avoid taking time off during these months. I would much rather as an owner operator work hard through the holidays, and then take time off in January and February when rates are often at their worst. Same thing for drivers, try to work with them to limit time off in the 4th quarter and take it in the 1st. With that being said, don't sacrifice relationships for a few extra bucks.

Every once in a while it is good to be called on the carpet. A couple of months ago a listener did that and I really appreciate the time and thought he put into his comments. He put a bit of a novel into a Facebook comment about episode 105. You can find his original comment here. He had some nice things to say, suggested some things he thought we should do better and made some general comments about the podcast. Craig and I spent most of this episode addressing most of the points of his comments. I think that makes this episode another listener questions episode. Eric, this one's for you!

I feel like my head won't stop spinning. There has been a lot going on and to be honest, I think that is going to be the new normal for us until we can bring on another admin employee. At our size, we are on the cusp of being big enough to justify someone to help us out in the office, but we just aren't quite there yet. We'll probably be redlined until we get there. What To Expect From Episode 112 Profitability has improved, but we are still struggling with cashflow. The loss we had last month and catchup from adding trucks 6, 7 and 8 in such a short period of time have really stressed our bank account. Total miles ran – 67,773 (About 10k less than our record last month, kind of low for 8 trucks) Deadhead miles – 3,095 (4.6%, really good) Total revenue - $170,655.41 All-in rate-per-mile - $2.52 (Best month since March) Haulin Assets realized a profit of $29,840.34. Our best bottom line number since March. I am hoping this trend continues. I think we are probably going to have some up and down months over the next couple of months, but I am hoping we have our cashflow smoothed out by the beginning of the year because I think the first quarter of 2023 is going to be tough. Impact Tip Always monitor your cashflow. Cashflow is different than profitability. A profitable company can still have cashflow issues. Any time you add a new unit to your fleet, it is going to have an impact on your cashflow, and you need to take that into consideration. Have a backup plan incase things don’t go as you planned.

Typically, you can make more money working for yourself than you can working for someone else, but doing so comes with challenges most people don't want to deal with. It it was easy, more people would do it. Growing a business is never easy and we have dealt with some pretty big challenges over the last couple of months. I want to share some of the experiences we have had and hopefully some of the lessons we have learned to help you manage some of these challenges as smoothly as possible. What To Expect From Episode 111 Here are the challenges we will discuss in detail: We had to let a driver go, he is a great guy, but was just costing us too much money Fuel prices are really hurting the bottom line when freight rates, especially on the spot market, don't leave much wiggle room We have struggled to get financing for our next trucks, although we think we have it worked out through a lot of work Rates have dropped, we are working on direct shipper loads

July was a crazy month and this episode is jam packed with lots to talk about. In true trucking fashion, there were lots of ups and downs. Driver challenges, unexpected expenses, mistakes, a new revenue source and we'll talk about it all. What To Expect From Episode 110 We lost money in July. July must be a tough month, out of curiosity I wanted to see when the last time was that Haulin Assets lost money, it was July of last year. There are a lot of factors that contributed to the loss and we'll talk all about them during this episode. There is a lot to cover, so buckle up. Total miles ran – 77,238 (The most we have ever run) Deadhead miles – 4,419 (5.7%, pretty good) Total revenue - $182,752.07 (Another record) All-in rate-per-mile - $2.36 (A little better than last month and I am pretty sure we will see it go up in August too.) Even with all the records, Haulin Assets realized a loss of $17,562.75, this is why we saved money early this year and last year when we were making really good money.

This was another really cool episode for Craig and I. We got to talk with some of our listeners and hear about their experiences. What To Expect From Episode 109 We asked each guest a version of the 8 questions listed below. Tell us about your story. What was the tipping point for you? When did you decide to take the plunge into ownership? What has been the biggest impact of listening to Haulin Assets? What has been your biggest challenge of starting and owning a trucking company? What has been the most rewarding? What is your favorite episode? What would you like to learn more about? If you could turn back time, would you do it all over again?

It's another listener questions episode! This is another fun one, where we let listeners ask questions that we answer for them. You probably have some of the same questions, so give the episode a listen. Everyone who had a question that was answered on the air got a free Haulin Assets T-Shirt. If you want one, you can order one here. What To Expect From Episode 108 Here are the questions we answered: Barry "Are there avenues to produce the same amount of income in a local delivery situation as opposed to over the road?" Eldwin "Is it possible to buy or transfer someone's authority if they're retiring or getting out of their business?" Darron "How does the timing of buying your first truck affect your success in starting your own company. Is the timing important?" Kevin "The hiring market is extremely tight. Most of us out here are struggling with hiring drivers. What other tips do you have for hiring drivers?" Tony "I've had my class A CDL since 1992 [been working construction since then], and I wanted to try find another way to feed my family. So I wanted to buy a rig, but the rigs are really expensive nowadays. What kind of advice can you give me?"

June 2022 made for the third tough month in a row for financials. With that being said, I am a bit more optimistic about July than I was about May or June. We also have a pretty exciting development that we are going to talk about. Listen to the episode and Craig and I will talk all about it. Visit haulinassetsllc.com and motorcarrierhq.com What To Expect From Episode 107 There is a lot going on in June's numbers that are not really apparent just by looking at the raw data. This is a good episode to listen to so you get a full picture. For starters, we had two new trucks come online in June and that impacted the numbers in several ways. Total miles ran – 64,759 (More than the last several months, because we had two new trucks run part of the month, but we also had a couple of drivers take a bit more time off than normal, summer vacations) Deadhead miles – 4,102 (6.3%, creeping up a bit) Total revenue - $142,631.51 (about the same as last month, but that includes about $22k in revenue from trucks 6 & 7) All-in rate-per-mile - $2.20 (Lowest it has been in a long time, so far July is feeling a little bit better, but that is just what my gut is saying, we will see the truth when the numbers come out) Haulin Assets realized a profit of $7,207.19. June 2022 made for the third tough month in a row for financials. With that being said, I am a bit more optimistic about July than I was about May or June. We also have a pretty exciting development that we are going to talk about. Listen to the episode and Craig and I will talk all about it. What To Expect From Episode 107 There is a lot going on in June's numbers that are not really apparent just by looking at the raw data. This is a good episode to listen to so you get a full picture. For starters, we had two new trucks come online in June and that impacted the numbers in several ways. Total miles ran – 64,759 (More than the last several months, because we had two new trucks run part of the month, but we also had a couple of drivers take a bit more time off than normal, summer vacations) Deadhead miles – 4,102 (6.3%, creeping up a bit) Total revenue - $142,631.51 (about the same as last month, but that includes about $22k in revenue from trucks 6 & 7) All-in rate-per-mile - $2.20 (Lowest it has been in a long time, so far July is feeling a little bit better, but that is just what my gut is saying, we will see the truth when the numbers come out) Haulin Assets realized a profit of $7,207.19. Impact tip: Be careful out there ... or something!

This was a really cool episode for Craig and I. We got to talk with some of our listeners and hear about their experiences. What To Expect From Episode 106 We asked each guest a version of the 8 questions listed below. Tell us about your story. What was the tipping point for you? When did you decide to take the plunge into ownership? What has been the biggest impact of listening to Haulin Assets? What has been your biggest challenge of starting and owning a trucking company? What has been the most rewarding? What is your favorite episode? What would you like to learn more about? If you could turn back time, would you do it all over again?

April and May are almost mirror copies of each other. We'll break down the numbers and talk about what went well for the month and what didn't. Trucking is a good business, but like every industry there are ups and downs and this month is a good example of that. What To Expect From Episode 105 I don't think we have ever had two back to back months that look so similar. I don't think we could have replicated a month so perfectly if we had tried. The fact that things are so similar leaves me optimistic that we are near the bottom of the drop in freight rates. The main numbers are below. Listen to the episode and check out the P&L below for the details. Total miles ran – 58,859 (About 400 more than last month) Deadhead miles – 3,489 (5.9%, same percentage, 19 more miles than last month) Total revenue - $141,998.48 (491.02 less than last month) All-in rate-per-mile - $2.41 (.03 drop) Haulin Assets realized a profit of $12,052.12. About $1,700 less than April. We talk some more about fuel prices and the percentage of revenue that fuel is an expense. It has been interesting to track that way for the last several months. Impact Tip Be kind, it's good business. I have had an experience over the last several weeks that has really made me reflect on life. Listen to the episode to learn more. In honor of Grace G, who was an example of love and kindness towards all she met.

This is a fun episode, we let listeners ask questions that we answer for them. You probably have some of the same questions, so give the episode a listen. Everyone who had a question that was answered on the air got a free Haulin Assets T-Shirt. If you want one, you can order one here. What To Expect From Episode 104 Here are the questions we answered. Doug M. "What is your opinion on using a dispatch service for a 1 truck owner operator?" Vanita J. "During your 1st year as an owner operator, did you update your data or did you have someone do that for you? If you did it yourself, what was your schedule for this task?" Greg J. "It would be very helpful to breakdown the various owner/manager/administrative tasks and estimated weekly hours spent on each." Trevor F. "With the price of fuel hovering around $5 in my area, what steps are you doing to try and reduce this expense as much as possible?"

What a difference a month can make. April of 2022 was nothing like March. Craig and I will dive into what happened and a little about what I expect to see in the next couple of months. What To Expect From Episode 103 The peaks and valleys of trucking are not for the faint of heart. We went from our most profitable month ever in March to one of the least profitable, since we have been running multiple trucks, in April. We will talk about what happened. Fuel is on everyone's minds, as it should be, but I think that was the second most impactful thing on our P&L. Listen to the episode to learn more. Here are the numbers: Total miles ran – 58,404 (Record, but the records are going to end there) Deadhead miles – 3,470 (5.9%, Pretty Normal) Total revenue - $142,489.50 (Over a $30K drop, ouch) All-in rate-per-mile - $2.44 (Another big drop) Haulin Assets realized a profit of $13,750.09. A pretty big drop as well, over $50K.

There is a lot going on in the economy right now so I thought it would be a good idea to provide an economic update that focuses on what small fleets and owner operators might expect and how to be prepared. What To Expect From Episode 102 I'll give a summary of what we talk about in this episode here in the show notes, but you'll need to listen to hear all the nitty gritty details. The economy is experiencing a lot of uncertainty right now, which makes people nervous. You have probably experienced it yourself. However, I don't think the sky is falling. We talk about what is driving some of the freight rates and what I think is going to happen to them. We also talk about being prepared, speaking of that..... Impact Tip Be Prepared. It’s the Scout moto and should be yours too. How do you prepare, save money, control your expenses and don’t grow too fast.

Click here to tell us your story and enter to win prizes (including possibly $1,000) We break all kinds of financial records this month. We have some fun with this episode and try to trick Craig with some trucking acronyms. What To Expect From Episode 101 We hade all 5 trucks running strong for the entire month. By the end of the month we basically had completed 3 full years in operation and having our strongest month ever was a great way to celebrate. One thing that has a tendency to surprise people when they hear about how much money we are making is that we haven't taken a dime out of the company, other than a modest salary for Nate and I. We talk a bit about that and some other cool financial topics, including continuing the conversation about comparing expenses, specifically our fuel expense, to total revenue as a percentage. Doing so can be especially helpful at a time like this when fuel is going up super fast, we use this technic to see how much of a problem the surging fuel prices are, or maybe they aren't such a problem.... Tune in to find out. First full month with all trucks running 100%, hence all the records. Total miles ran – 57,475 (Record) Deadhead miles – 3,124 (5.4%, Back to Normal) Total revenue - $174,594.90 (Record) All-in rate-per-mile - $3.04 (Pretty Good) Haulin Assets realized a profit of $65,714.92. Another record.

We’re making an episode with listener's questions and stories about how listening to the podcast has helped them be successful. Everyone who submits a question and/or story will be entered in a drawing to win a $100 gift card. If your question or story makes it onto the podcast you will get a free Haulin Assets T-Shirt and be entered into a drawing for a $1,000 gift card. Go to Episode 100’s show notes at haulinassetsllc.com to submit a question and/or story. Holy Cow!! I can't believe we have made it to our 100th episode. It also falls right on the 3 year anniversary of Haulin Assets. Time has flown by and it has been a wild, but extremely fun and satisfying ride. We are going to spend the next several episodes celebrating our success. Speaking of success, that is what this episode is going to cover. What To Expect From Episode 100 I have been doing a lot of thinking over the last several weeks about all that has happened over the last three years. We have experienced a lot of success and I thought I would share what I think have been the 10 keys to our success. Craig and I will go into some pretty good detail about each of these keys. Hopefully they can help you in your business. 10. Financing Was Critical 9. We Limited Our Risk And Got A Warranty 8. The type Of Trailer We Have Is Critical 7. Managed Our Expenses 6. We Took Compliance Seriously 5. Our Relationships Are Important 4. Longer Runs Have Been More Profitable 3. We Have Treated Our Drivers Well 2. Our Business Is Built On A Sound Financial Foundation 1. We Have Been Persistent and Endured Impact Tip Think like an owner. Everything we talk about in this episode really boils down to thinking like an owner.

The war in Ukraine has been fascinating to watch. Seeing how the Ukrainians have stepped up and how badly Putin has messed up is one of the most interesting things I have seen in a long time. The war in Ukraine has made me do a lot of thinking and I notice myself trying to take lessons from what I am watching and applying them to business. A famous saying in the military is, “Tactics win battles, logistics wins wars.” Logisitics isn’t usually the sexy thing in war, but it really is one of the biggest, if not the biggest, difference maker. Just as in war, in business it’s often the not so sexy things that are the difference between winners and losers. What To Expect From Episode 99 Just like logistics, managing overhead is not sexy, but doing it poorly will sink you and doing it well will put you ahead of your competition. In this episode Craig and I talk about what overhead is and what to watch out for. Low overhead can be a major competitive advantage for small trucking companies. Large trucking companies have an advantage by purchasing in bulk. They save on expenses like fuel, tires and maintenance. Small trucking companies can more than make up for that advantage by running lean and limiting their overhead. Haulin Assets biggest overhead expenses: Owner salaries Permanent parking space rent Small miscellaneous expenses Large trucking company overhead: Office rentUtilities Property taxes Vehicle for owner/manager/employees Salaries Sales/marketing Listen to the episode to hear about the one mistake that is by far the biggest that I see companies make with overhead, especially small trucking companies from Owner Operators to companies with 20 trucks. Don't make this mistake, I see far too many companies go out of business because of this one thing. Impact Tip Get out and network! One of the more common questions I get from people is how we are getting trucks. I think there are two big reasons we are getting trucks. First, we developed a relationship with a salesperson. That did not happen overnight. Networking is important and relationships are critical. Because we had a relationship with him, he told us in in the Spring of 2021 that if we wanted trucks in 2022 we would have to place an order for them by the beginning of July 2021. The second big reason is because of that conversation, we made a plan for what we wanted in 2022 a year ahead of when we wanted the trucks. We should get our first 2022 truck around the end of April/early May, but we placed the official order for that truck in July, along with all the other trucks we want in 2022.

The good start to the year continues in February. We cover some really great topics in this episode including what is going on with fuel these days and looking at expenses as a percentage of income. If you have never heard of that last topic, you need to listen to this episode. It's a great bit of knowledge and tool to have. What To Expect From Episode 98 Had all 5 trucks running starting on about the 10th of the month, so almost a full month with 5 trucks. Total miles ran – 48,682 (Warning, this is a very close estimate. I don’t have the exact number, listen to the episode to learn why) Deadhead miles – 3,453 (7%, higher than it has been in a while) Total revenue - $162,139.10 (Record) All-in rate-per-mile - $3.33 (Better than I thought it was going to be) Haulin Assets realized a profit of $48,286.79. Another record, which surprises me because we had a decent number of anomalies to the P&L. We talk about those during the podcast. The P&L for this episode looks different than the ones you have seen in the past. I added a column that compares expenses as a percentage of income. There are a lot of great reasons to use this comparison. Craig and I go over the what, how and why of percentage based comparisons. Using this tool will be a great help to your business. It can also help relieve stress when you see the dollars in an expense category shoot up. You might be worrying for no reason. I also included an Excel version of the P&L, you can download it here.

I can't believe we have been doing this for almost 3 years and we have never dedicated an episode to mentors. Shame on me. This is such an important topic. A good mentor can be the difference between spending several years gaining experience to solve a problem or achieve a goal or spending a couple of hours of discussion with someone who has been there and done that. A good mentor(s) can have an enormous positive impact on your business. Your business needs one or maybe 2 or more. What To Expect From Episode 97 In this episode we are going to dive deep into the 5 W's of finding a good mentor. Here is an outline of what we will cover: WHO makes a good mentor What do you look for in a mentor When should you look for a one Where do you find a mentor Why do you need a good mentor Impact Tip Don’t lose your childhood confidence. If you have ever watched a toddler, you have seen them do things you know they are probably going to fail at, but they have the confidence to do them anyway. That is how they learn. Don’t be afraid to fail. Don’t be afraid to ask a mentor to help you. You may have to ask 10 people before you find the one who is the right fit for you. The price you pay to go through the 9 failures will be worth it to find the 1 who fits. Episode links: Motor Carrier HQ Small Business Administration Goldman Sachs 10,000 Small Businesses

January was a good start to the year. I couple of episodes ago I left a teaser about $7,000 in preventable damages we had to payout and Craig and I start the episode off diving into exactly what happened. It's a pretty good story with a lot of nuggets of wisdom you can gain from the experience. The other great news, Truck 05 is finally on the road. What To Expect From Episode 96 As usual, we cover the ins and outs of what happened financially this month. Here are some of the highlights. Total miles ran – 47,017 (Pretty high, just 4 trucks, but they all ran hard) Deadhead miles – 2,452 (5.2%) Total revenue - $114,170 (This was actually lower than I expected) All-in rate-per-mile - $2.43 (Pretty big drop from where we were at in December, but that is to be excpected. The encouraging thing is that we were still able to run hard in January, wasn’t hard to find loads and our deadhead was pretty low.) February is probably going to be in the same ballpark. Haulin Assets realized a profit of $29,339.41. Second best net income we have ever had. Impact Tip Focus on scalability. How do you make a trucking company scalable? Don't know what scalability is, listen to the episode, we break it down. One of the common problems I see that cause serious problems in our clients companies that sometimes cause them to go out of business have to do with scalability. When a company is small the owner(s) can usually manage the little problems and little inefficiencies. But when the get bigger those little problems became so numerous they are hard to handle and eventually become unmanageable cause an incredible amount of stress. You want things running smoothly before you take the next step.