FIRESIDE CHAT TOPIC: How owner-operators can position themselves for success
DETAILS: Brielle Jaekel of FreightWaves and Adam Wingfield, founder of Innovative Logistics Group, discuss strategies for maximizing profitability. The North Carolina-based company serves small carriers.
KEY QUOTES FROM WINGFIELD:
“You have to know what profitability looks like to your independent business. Every business in the trucking industry is different, and every truck that hits the highway has a different business dynamic. So, the most important thing is to get your baseline first.”
“If you want to be successful, you want to stay on top of things. When I started as an owner-operator, I mean, it was no, really no internet. We had no social media, we had none of this stuff. We had no access to industry changes. … Now you have instant, instantaneous, tangible tools to be successful. You’ve got a cheat code. So it’s important for you to stay ahead of those things, because those headwinds can help you make those decisions, those profitability decisions.”
“The industry itself is an antiquated industry; adaptation of technology in trucking has [not always] been the thing that we’ve been known for. But as an owner-operator, you have got to use every tool that you have in the tool chest in order to stay on top of the game.”
James
The government will be limiting our profits, and making sure smaller companies, and the individual owner operator are put out of business. Just as soon as they govern all the trucks to the same speed. Mega, and larger carriers will get all the business as they have the trucks to handle it, and more, and more of them are requiring teams. Soon we will either drive for them at a personal loss, or not drive at all.
Maud A Lee
Honestly, this article didn’t have much to it. Only thing that can be taken from this is use the Internet for the much needed tools for owner operators…
Sam
Where is there or can there be a profit when it costs over 1000.00 just to fuel up full.???
Qasim
I’ve been driving for about 30 years and you are correct in saying antiquated on the ground transportation has always been far behind two more years to retirement.
Detoya Lewis
Yeah, but the bottom line is that the brokers are taking the money from the truck, stealing the profit the truck suppose to make, that’s what hurt every truck, bottom line, stealing the trucks profit. The loads are paying good , but when the broker get , money is stolen and we know it. Even the shippers are saying the load is paying good money.
Common sense
Maybe in a good economy?! But now a days profit margins are small or non existent…. Right now you can’t even get a loads charging $1.00 per mile??
Mark Stephens
Well said sir. Transportation management systems are antiquated, remedial and quite frankly Elementary in nature in spite of today’s digital technology. I’m creating and developing the most unique general transportation management system in this industry, a virtual hands-free perpetual program so warm and inviting to the user’s eyes it makes it a joy to come to work.
Bizlytics~a Solutions Software ~
Over the road has never been so fun.
Mark Stephens
Well said sir. Transportation management systems are antiquated, remedial and quite frankly Elementary in nature in spite of today’s digital technology. I’m creating and developing the most unique general transportation management system in this industry, a virtual hands-free perpetual program so warm and inviting to the user’s eyes it makes it a joy to come to work.
Bizlytics~a Solutions Software ~
Over the road has never been so fun.