There is something patriotic to me about starting your own business. At TurnKey Authority, we get to meet people who are no longer going to drive for someone else but be their own boss and that’s exciting. They know the business, they know how it should be done, and they are going to take a piece of that pie!
As much as I love watching the American Dream unfold, I really hate hearing of those that don’t make it. I want to believe that every trucker who gets their carrier authority, insurance, licensing, permits, and all of the rest, then adds some good old American hard work to the mix, eventually turns their one truck into a fleet, has the choice to sit behind the dash or a desk, and no longer worries about affording the kids’ college. I want to believe they reach the American dream.
I’ve seen it go both ways and I have advice for that new business owner. Henry Ford said, “I’m not the smartest person but I surround myself with competent people.” Henry Ford didn’t know everything, nobody does, but he understood that you don’t have to. Utilizing the knowledge of others in their area of expertise is the key. In moving from driver to business owner, you have a host of new decisions to make in areas that you may not have a lot of depth of knowledge in. You should be utilizing competent people (resources) to ensure that you are making decisions that assist in the success of your business. How can you ensure that your business is not only profitable but maintains adequate cash flow? And has funds on hand when licensing or insurance deposits come due? And hauls only for good paying customers? And properly pays the IRS and all other taxing entities?
There are experts that can help owners of transportation companies, and Turnkey Authority is one. Factoring companies that specialize in transportation not only assist with cash flow but they also have deep knowledge in credit checking potential customers and invoice billing and collection. SCORE is a great (non-profit) resource that offers tools and helps small businesses become successful. And there are so many more.
So, congratulations on being your own boss. Now, surround yourself with people who will help you reach your American Dream.