A plan to succeed
Failing to plan is planning to fail.
That’s the message during the OOIDA Foundation’s Truck to Success course, which is designed to help those taking the next step in their trucking career do so successfully.
The Foundation’s mission statement is to fight for the rights of all truckers through education and research. This three-day course is a prime example of that educational mission.
“There’s so much information in these three days, it’s kind of a baptism by fire,” OOIDA Executive Vice President Lewie Pugh said. “It’s a little bit of an expense to take this course, but if you’re going to spend hundreds of thousands of dollars on equipment going into business for yourself, do yourself a favor and spend a little money upfront. The class is important to OOIDA because we love truckers and want everybody to be successful. We’re giving you a head start on figuring it out.”
As an owner-operator, you are more than just a driver. You are now a business and you need to have a plan.
Andrew King of the OOIDA Foundation stressed the importance of creating a business plan and conducting yourself like a business.
“One of the biggest reasons for failing as a business is the lack of planning,” King said. “We know 25% of trucking businesses fail in the first year, and by the fifth year 60% fail. There’s a lot of men and women out there who can drive a truck, but they’ve never owned a business. Creating a business plan doesn’t have to be anything complicated, but you need to think of yourself as a business and not just a driver. You need to know what the costs are.”
Cost of operations, equipment financing, lease purchases, tax incentives, truck and cargo claims, drug and alcohol compliance, bookkeeping, brokers and government affairs were just a few of the critical topics covered.
The in-depth training curriculum featuring step-by-step guidance from industry experts in Blue Springs, Mo., was also offered virtually for those unable to attend in person.
Time – and money – well spent
A wealth of information was provided during Truck to Success, and those in attendance say the time and money spent to be there was a sound investment.
“I’ve been in this business for 50 years and I decided I should take my own advice and practice what I preach,” Richard Hoffman, an OOIDA life member from Texas, said. “I wanted to see if there’s anything I missed or just need to catch up on. Things change all the time. We can all use reminders and this is just great information.”
Juan Mendoza, a driver leased to Landstar from Lorain, Ohio, who is experienced behind the wheel and would like to potentially start his own fleet. The valuable tax advice was also a major factor in him deciding to attend the class.
“I needed this, and I’m at the age where I’m thinking about retirement,” Mendoza said. “Lowering my taxes was something I need help with, and I want to get some drivers to drive for me. I’m going to make an investment, and I want to do it right.”
For Jeanne Kurdle, owner of Trucker’s Friend Dispatch in Marshfield, Mo., learning the back office side of the business was the goal.
“I wanted to learn as much as I can about the industry to make sure that I’m beneficial to their business,” Kurdle said. “That’s how I see myself, working for the owner-operator. I feel like I’ve gotten my money back tenfold. I’ve also made connections so that I have resources to go back to later when any issues come up.”
Penny Gilbert was in search of information on the bookkeeping aspect as she is in charge of the day-to-day operations on that side of the business for her husband, George.
“It’s opening my eyes and making me realize I have a whole to-do list when I get home,” Gilbert said. “To someone that’s not in the know, it’s not common sense. This class is helping me get a knowledge base. Now I know what I’m looking at and how to better look at it. It’s helped us decide some things aren’t for us and some things might be more for us.”
To learn more about Truck to Success or the OOIDA Foundation’s education and research, visit OOIDA.com/Foundation. LL