RedGage

When owner-operators make some mistakes, very often they experience a direct loss in their revenues. It’s important to know what they are so you can avoid them.

Here are four ways owner-operators sabotage their own future:

• Operators often assume that if they are buying a new truck, the warranty will result in zero maintenance cost. This is not always the case. New trucks have brand new parts and engine but they still need regular maintenance. Large trucks are typically used to transport heavy loads over large distances. The wear and tear during one trip is enough to damage parts of the truck. Regular maintenance can help to keep all the important parts of the truck up to par and in tip-top shape.
• Some operators also believe that trucks with a big horse-power engine will provide better mileage when compared to trucks with smaller engines. On the contrary, trucks with big engines work the same, but as their engines have large horse power, they consumes more fuel.
• Operators depend on drivers for their business success. Yes, drivers are very important, but operators forget that the most important thing in this business are trucks, which are the fundamental means of performing the job.
• Operators in this business often have a misconception that they will always have business and regular income throughout the year. The demand for trucks increases and decreases. It is not guaranteed that the trucks will be on the road throughout the year.

Now that we know the four most common mistakes made by owner-operators, it is time to look at what to do to prosper as an entrepreneur in the trucking industry. Some of the points are mentioned below for your benefit:

• It is very important for an operator to know that you will only be paid for the work you do. If you do a sizeable amount of job, then you will be paid accordingly. You can increase your revenue if you offer to take up more jobs.
• Long term relationships with your customers can help you immensely. In this business, it is very important to have long term relationships with your customers. Building a relationship with your customer will make you their go-to trucking company for any kind of job. Shifting from one shipper to another will always make you a new operator, who people are less likely to depend on.
• Owner-operators usually end up having expectations about their revenue and income, which are unrealistic. Keep in mind that business usually thrives only at some times of the year, and the income and revenue depend upon the work you do.

For more information and tips to become an owner-operator and make money in this business, feel free to see these resources.