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Haulin Assets
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Contenuto fornito da Motor Carrier HQ. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Motor Carrier HQ o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
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173 episodi
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Manage series 2596498
Contenuto fornito da Motor Carrier HQ. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Motor Carrier HQ o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
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×As I mentioned recently, Brad, our operations manager left us the end of last year and Nate and I have had to divvy out his responsibilities. One of them that I have taken on is safety and compliance, so those topics have been pretty heavy on my mind lately. I feel like as a company, we have a pretty good safety culture, but we aren't perfect, and I want to step it up a notch. Improving safety within Haulin Assets is one of my personal goals for 2025. In this episode we cover some of the things that have been on my mind. What To Expect From Episode 170 I know this is not the most sexy topic in the world, it doesn’t bring in revenue, it’s not a task that requires your immediate attention like a broken down truck, but it will have an impact on your bottom line and can have catastrophic consequences if ignored. Here are the things we cover in this episode: Why does safety matter How do you build a safety culture Where can I find resources to help Why Does Safety Matter There is a lot that goes into this and we cover a lot in the episode, but it all boils down to a few things. We have a moral obligation to the public to do what we can to keep roads safe and the financial health of our companies depends on it. In trucking, profit margins are thin and we can't afford unnecessary expenses. Damage to equipment and injuries are often preventable and are big expenses we can largely avoid. How Do You Build A Safety Culture It starts at the top. Here are some of the topics we cover: Make safety a priority and ensure your drivers know it Show your drivers safety is more important that on-time deliveries Have regular safety meetings/talks Resources Your insurance company YouTube Haulin Assets Academy (Coming Soon) The FMCSA Resources for Drivers Resources for Carriers…
It's the end of 2024, in fact, this episode with the November 2024 Financials is getting recorded on the last day of the year, but will post on the first day of the new year. 2024 was a tough year, proceeded by another tough year, that honestly was preceded by the start of the drop in the freight market. With three tough years in a row, we deserve some relief. With dropping interest rates, an economy that appears to be decently healthy, and what is likely to be a more trucking friendly presidency coming into office, there is a lot to look forward to. What To Expect From Episode 169 Sorry there has been a bit of a break since the last episode, with me taking a trip in a truck and the Holidays, I just couldn't get an episode out. November was an interesting month in a few ways, mileage dropped, but revenue increased. That makes for some pretty good talking points. Let's take a look at the numbers: Total miles ran– 109,155 (One of the lowest mileage months of the year) Deadhead miles– 7,147 (7.1%) Total revenue- $236,053.07 (With the holiday, ran fewer miles, but more profitable miles) All-in rate-per-mile- $2.16 (Best in several months, third best of the year) Haulin Assets had a profit of $16,837.14. With as low as our mileage was, profit could have been a lot worse, our saving grace was definitely the better rate per mile. P&L Items Maintenance and Repairs IFTA Payments Fuel, 26.4% of revenue We sold a piece of equipment…
Happy Thanksgiving! Some of you will be home for Thanksgiving, some of you won’t, I know what that is like. I want you all to know I am thankful for you. Both that you are listeners and fans of the podcast and that you keep America moving. I am thankful that there is food on my table and a roof over my family's head, both of which would not be possible without what you do everyday. THANK YOU. What To Expect From Episode 168 Revenue dropped a bit last month. I wish I know what caused it. I think there are several factors, one of them just being that the market is still bad and it is volatile. Total miles ran– 119,607 (Higher than last month) Deadhead miles– 8,542 (7.1%) Total revenue- $227,931.30 (Lower than expected, I think partly due to lower fuel prices, brokers are being more stingy on rate) All-in rate-per-mile- $1.96 (Our worst rate per mile all year) Haulin Assets had a profit of $5,062.43. With as low as our revenue was and as bad as the rate per mile was, I am kind of surprised we turned a profit. P&L Items Work Comp Maintenance and Repairs Fuel…
Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com Find our courses at haulinassetsacademy.com The end of the year is a crazy busy time with the Holidays and everything else going on so taxes typically are not at the forefront of your mind, but they need to be. There are certain things you can do to improve your tax situation before December 31st that you can't do after January 1st, so you need to have a plan. I usually try to have a general idea about what I want to do by the end of October or the beginning of November. During this episode we are going to give you somethings to think about so you can start to build the right plan for you. What To Expect From Episode 167 So you own a business, does that mean you need to file a business tax return? The answer is maybe... We are going to help you answer that question and so much more. Here are some of the things we will cover. Filing deadlines, April 15th, right? Not always. Here are some other deadlines we talk about. Partnerships and S-Corps (March 15) Single Member LLC, Sole Proprietor, Corporations (April 15) Extensions (September 15th and October 15th) Quarterly Tax Payments ( 15th of the month after a quarter ends) One of the most important things you need to decide, is what is more important to you… show a profit or reduce how much you have to pay in taxes. You really can’t do both. No one wants to pay any more taxes than they have to, but to lower your tax bill you have to lower your profit which then hurts when you try to get financing. Tax Strategies Reduce Taxes Maximize Profits Strategies for reducing income: Business Strategies Purchasing equipment and different types of depreciation Use of accelerated depreciation Expense planning Prepaying expenses Negotiating payment plans or future payments Ensure you capture all your expenses, and account for all your deductions Home Office Business use of personal vehicle Child Care Revenue Recognition Cash Basis vs Accrual When does it need to be Personal Tax Planning Retirement accounts SEP Traditional IRA 529 College savings account Health Savings Plans Itemized Deductions Mortgage Interest Charitable Contributions None-reimbursed medical expenses If you have been slacking on your bookkeeping, get caught up now so you don’t have surprises early next year when you can’t do much about it Be ready to provide a summary of your business operation Factoring company statements Business bank account and transaction categorization Some banks track your spending and categorize expenses. May require specific accounts or Use an accounting firm Multiple years of taxes needed, start with today and filed the current year. Don’t get overwhelmed. Strategically work your way backwards until it’s done. Small wins will get you there.…
Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com Find our courses at haulinassetsacademy.com It's Halloween, which is a fun time of year. I love driving down the road and seeing how drivers deck out their trucks. It's fun to see their personalities come through. What To Expect From Episode 166 We are still slugging through this unprecedented freight market. I wish I knew when things would turn around, I keep thinking it has to be right around the corner, but I have thought that for a year now. I expect we'll see at least a little relief due to the holiday push, but I don't expect it to blow anyone's socks off. Here are the numbers for September. Total miles ran– 107,902 Deadhead miles– 5,141 (4.8%) Total revenue- $227,931.30 All-in rate-per-mile- $2.11 ($0.02 better than last month, $0.20 better than last year) Haulin Assets had a profit of $16,024.48. Which is more than I would have guessed, based on the revenue number. Still not close to where we want to be, but… all things considered, it could have been worse. Here are the P&L items that we'll talk about. Maintenance and Repairs Fuel…
Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com Find our courses at haulinassetsacademy.com In this episode we are going to step out of the truck and away from the business and focus on you and your health. This can be a sensitive topic and it's something I have struggled with most of my adult life. I have found something that is working for me better than anything else I have done and want to share it. I'm no health expert, but want to share my story. It a change is something you are looking for, I hope this helps. Before we get into the meat and potatoes of the topic, Craig and I talk about some of the challenges the trucking industry is facing because of the crazy amount of fraud going on. What To Expect From Episode 165 Not everyone cares about their weight. With this and most things in life I take the attitude of to each their own. Do whatever makes you happy in life as long as it isn't impacting someone else. For me, weight is one of those things I love and hate. Because I am in the National Guard, I have to maintain a certain weight standard and it is something I constantly struggle with. I like food too much and I like to eat too much food. I tend to yo-yo. Most years during the summer I lose 20-30 pounds and then gain it back in the winter. This summer I tried something different that is working better than anything else I have ever tried. It is something you can do while on the road so I thought it would be good to share it with you. It's nothing new, you have probably heard of it. I've been counting macronutrients, commonly referred to as macro nutrients. Neither Craig or I are nutritionists so I am not going to go into the science of it, but I talk about my experience and share what I have been doing in more detail. Basically, I figure out what my macro breakdown needed to by, actually a professional figured that out for me. I use an app to track my macros on a daily basis to make sure I am eating a little less than what my body actually needs so that I lose about a pound a week. Like I said, we go into this in more detail during the episode. Here are some of the things I typically eat for each meal. Breakfast Greek yogurt (It's higher in protein than regular yogurt) Cottage cheese I often mix the cottage cheese and yogurt (I like it my wife doesn't) Oatmeal Mix (Oatmeal with water or milk, protein powder, I like vanilla, and fruit) Reese's peanut butter cup protein shake (8 ounces of milk, ice cubes, spinach, half a banana, two scoops of PB Fit, one scoop of chocolate protein power, mix it in a blender) Lunch Chicken breasts 8-11 ounces, grilled or baked with seasoning. You can cook it with a Road Pro 12 volt stove. Sandwiches using pitta bread and filled with cold cut lunch meats and cheese or healthy chicken salad. Cold cut lunch meat wrapped in cheese for a lower carb option Dinner Rotisserie chicken from the grocery store, makes several meals Breakfast burritos or an omelet Fish Shrimp cocktail, if I want to treat myself Tons of healthy dinner recipes, we make a big meal and eat leftovers. I always took as many leftovers as I could when on the road. Snacks Protein drinks Protein bars Snickers, not the king size Beef jerky Boiled eggs Egg muffins Eating Out I still tend to get a burger and fries at least once a week. I just usually don't have the bun, some places call it protein style others call it a lettuce wrap and I only get a regular fry. I make healthier choices. When I go to Texas Roadhouse I only eat one roll instead of five For example, I recently went to Buffalo Wild Wings. I got the traditional 10 piece non-breaded wings, half with a dry rub half with a sauce and I only dipped a few of them in ranch. Tips for being successful Don't let yourself get hungry Focus on hitting your protein goal You'll feel fuller and have less cravings Don't drink sugary drinks Coffee and diet sodas are good Water is the best Don't beat yourself up if you aren't perfect, you are going to have bad days. If you can follow the plan 80-90% of the time you are going to be successful. Eat for fuel, not for fun…
Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com Find our courses at haulinassetsacademy.com Holy cow, Hurricane Helene has caused some serious problems. It seems like it has been a while since we have had a hurricane that was this bad. Ashville, NC received over 2 feet of rain and is a zone of devastation. It's not an area we deliver to often, but guess what, we have a load trying to deliver there now. The receiver's parking lot is full of mud and can't take trucks. It could be weeks before they are up and running again. I'll keep you posted on what happens. We are constantly trying to improve. We start off this episode talking about a few things we have decided to do a little different. We hope both changes will improve our bottom line. One of them should also have a positive impact on our maintenance BASIC score and hopefully on our overall maintenance costs. What To Expect From Episode 164 We had a really good revenue month, but overall numbers are still not where we want them to be. There are some positives in the numbers that we will talk about throughout this episode. Total miles ran– 136,000 (That's a new record) Deadhead miles– 10,513 (7.7%, down a little from last month.) Total revenue- $283,586.73 All-in rate-per-mile- $2.09 ($0.03 better than last month, $0.10 better than last year) Haulin Assets had a profit of $5,189.78. With the big revenue month, I was expecting more. There were some P&L items that impacted net profit. Here are the P&L items that stick out, we'll talk about them. Damages Payroll Maintenance and Repairs Fuel…
In episode 160, we talked about CSA scores and how they work and some best practices. Managing the safety program for a trucking company is not an easy job, whether you are an O/O or have a fleet. There is a lot to know and do. So, what happens if you didn’t do a good job with those things and you are under the FMCSA’s microscope? In these two episodes, Craig and Chris are joined by Alex from Motor Carrier HQ to pick her brain about her experience with the FMCSA, maintaining good ISS scores, and how to get yourself out of a hole if you find yourself in one. Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com Find our courses at haulinassetsacademy.com…
In the last episode on safety, we talked about CSA scores and how they work and some best practices. Managing the safety program for a trucking company is not an easy job, whether you are an O/O or have a fleet. There is a lot to know and do. So, what happens if you didn’t do a good job with those things and you are under the FMCSA’s microscope? In these two episodes, Craig and Chris are joined by Alex from Motor Carrier HQ to pick her brain about her experience with the FMCSA, maintaining good ISS scores, and how to get yourself out of a hole if you find yourself in one. Get the full show notes at haulinassetsllc.com Check out MotorcarrierHQ.com Find our courses at haulinassetsacademy.com…
Haulin Assets Academy Full Show Notes Haulin Assets T-shirts and More This year has been better than last year, but we are still not where we want to be. Hopefully, things continue to gradually improve as the year goes on. Here is what July looked like. Total miles ran– 118,563 Deadhead miles– 9,649 Total revenue- $243,804.91 All-in rate-per-mile- $2.06 Haulin Assets realized another small profit of $10,342.41. That continues our profitability streak of 10 months, but cashflow is still negative and we talk about that a bit, including a big change to help alleviate some of the pressure that causes. Here are some areas of the P&L that we highlight. Factoring Fuel Repairs Taxes and licenses…
What do peaches and the FMCSA Safety program have in common. You'll have to listen to find out, but I will tell you, understanding the low hanging fruit principle can help you stay out of hot water with the FMCSA. We cover a lot in this first episode of a two part series on the FMCSA Safety program. It can be tempting to neglect safety, especially when you are struggling to survive in a tough market. However, failing to manage your safety and your FMCSA scores can sink your company faster than low freight rates. Listen to the episode as Craig and I share some great tips when it comes to safety. What To Expect From Episode 160 BLUF (Bottom Line Up Front), If you want to have good CSA scores, be safe, maintain your vehicles, obey traffic laws, and don't break the hours of service rules. With that being said, we give a lot of tips about what the CSA scores are, how they are calculated, and some of the best practices to keep them low. Lower is better. Here is an outline of what we cover. What Are CSA Scores Most Motor Carriers receive scores in 7 Behavior Analysis and Safety Improvement Categories, which wrapped up in a nice little acronym called BASICs. The categories are: Unsafe Driving 65% Crash Indicator 65% Hours-of-Service Compliance 65% Vehicle Maintenance 80% Controlled Substance 80% Hazardous Materials Compliance 80% Driver Fitness 80% Insurance and Other (This one isn't really scored, it's more like pass or fail) The percentages are the thresholds, we explain those during the episode. How You Get Your CSA Score The simple answer to this question is they come from interventions with the FMCSA/DOT Officers. Those can be anything from roadside inspections to an audit. Most inspections occur at Ports of Entry or because of an inspection that happens when a driver is pulled over for a moving violation or obvious vehicle maintenance issue. One of the biggest contributors to the number of inspections you get is your ISS Score (Inspection Selection System). You can check your score and a lot of other important things regarding your company's history with the FMCSA by logging into their system here . Understanding The Scoring System The scoring process is a bit complicated. I am going to over simplify it, but here is the general idea. Every time you are inspected your company receives a score. If there is a violation, you get bad points. If the inspection report is clean, you get good points. The formula the FMCSA uses basically divides the bad points by the good points. If you have more good points than bad, your resulting "measure" will be less than one. If you have more bad points than good points, your "measure" will be higher than one. Good inspections will give you more good points and lower your "measure". Your "measure" is then compared to all the other fleets that are roughly your same size. If you are right in the middle, meaning half the companies have a "measure" lower than yours and half the companies have a "measure" higher than yours, your BASIC score will be 50%. If you are in the top 10%, your score will be 10%, etc. Every BASIC has a threshold, if you are above the threshold you are going to be on the FMCSA's radar. You just became low hanging fruit, if you don't know what that means, listen to the episode. If you really want to nerd out and dive deep into the methodology and calculations, you can learn a lot by clicking on this link and reading the document . Understanding The Consequences Of Your CSA Scores There are several things that happen if your CSA Score exceeds the threshold. You are going to get a letter from the FMCSA saying you need to behave and do better Your ISS Score is going to increase and your are going to get inspected more, when that happens, most scores get even worse If your score stays elevated for a while or if you exceed the threshold in multiple categories, you are way more likely to be audited, that's when the fun really begins Most audits result in a Safety Rating, either Satisfactory, Conditional or Unsatisfactory. In part two of the series we will talk about what happens if you get a bad safety rating or if the FMCSA tells you that you need to complete Corrective Action Plan.…
Haulin Assets Academy: https://www.haulinassetsacademy.com/ Motor Carrier HQ: https://www.motorcarrierhq.com/ This is a topic I wish I did not have to cover, but fraud in the trucking industry is going crazy right now and it is affecting all of us. Being dishonest is very short sided and will catch up with you in the long run. There is no place for dishonesty in the business world. In my opinion, fraud is one of the worst forms of dishonesty. What To Expect From Episode 159 Why is fraud so rampant right now? I have my theories that Craig and I discuss, but I think it stems from the tough market we are in. Here are some of the more common types of fraud that we talk about: Double brokered loads (We spend a lot of time on this one) Companies that pretend to be the FMCSA, DOT, IRS or State Agency Emails from government entities should end with a .gov not .com Card skimmers New Entrant Audit scams Watch out for these domains compliance@dotfilings-fmcsa.com compliance@usdots-fmcsa.com @ fmcsa-gov.com @ safer-usdot.com Being vigilant and skeptical is your best weapon. Here are some of the things we talk about watching out for: Formatting is off on the rate confirmation Rate confirmation is missing information, like your company name The logo looks blurred or otherwise messed up The rate is well above market rate Email addresses with a domain that does not match the company Gmail, Outlook, iÇloud, Yahoo, etc email domains are a big red flag New domains, you can check the domains age at https://www.whatsmydns.net/domain-age Verify everything, especially when working with someone for the first time Independent internet searches Call the phone number you find independently, not the one on the paperwork they gave you Your factoring company Get a second opinion from someone you trust or someone who is an expert…
Haulin Assets Academy: https://www.haulinassetsacademy.com/ I start off this episode ranting a bit about a couple of challenges I faced recently. One involved being dropped from a load that I think was completely unwarranted. The second situation was because of a strong oder in a trailer that wouldn't go away, even after a washout. What To Expect From Episode 158 We are not where we want to be, but if you look at June of last year verse June of this year, we are in a much better spot. All the trucks are running. Here are the numbers: Total miles ran– 118,237 (The sitting truck was back working for about half the month) Deadhead miles– 8,806 (7.5%, Creeping up. I have expected this and explain why) Total revenue- $244, 523.12 All-in rate-per-mile- $2.07 (Drop from last month) Haulin Assets realized a profit of $23,521.93, that is the second best of the year. What has me even happier is that it is $46,983.01 better than last year when we had a loss of $23,461.08. We continue to extend our streak of being in the black, that makes me happy. If we continue to see profit through the summer I will continue to get more and more optimistic that the market is finally turning the corner. The P&L was pretty bland this month. Additionally, I explain why we were able to have a lower all-in rate-per-mile, but had a higher profit than last month.…
Haulin Assets Academy: https://www.haulinassetsacademy.com/ Throughout my military, business ownership and corporate careers I have held many different types of leadership positions. I have lead groups with just a few people to groups with hundreds of people. I am a much better leader today than I was 20 years ago. I hope this episode will give you some things to think about so you have a leg up to becoming a better leader. Keep in mind that a great leader positively impacts an organization in ways that are immeasurable. Great leadership is a multiplier for your organization. What To Expect From Episode 157 Whether you are a single owner operator or the owner of a fleet of trucks, you are the leader of your trucking company. I want to share some of the things I have learned over the years about being a good leader. Some of the greatest leadership lessons I have learned came during difficult circumstances. Here are a few of the leadership experiences I have had that have helped me gain experience: Army Engineer Company Commander in Afghanistan, starting and running multiple businesses, running businesses in difficult times and learning how to lead at the Army's Sapper Leader Course under extreme hunger and fatigue. During this episode, Craig and I break down and expound on the following keys I feel like are imperative to being a good leader for your trucking company. Here they are: Provide good direction and guidance Good company policies The type of drivers you hire How big of a company you will be Build a good culture Safety How hard your drivers run How your drivers are treated Hiring process Be a servant leader Find ways you can serve your drivers Find ways to give your drivers a win Be self-aware Be honest with yourself, change the things you do that cause problems Leadership is a life-long endeavor. You should always work on your leadership skills. Here are some ways I like hone my leadership skills. Read great books on leadership, here is a list of some of my favorites: Good to Great, Jim Collins Speed of Trust, Steven Start With Why, Simon Sinek Biographies Ulysses S Grant Alexander Hamilton Buffet: Making of an American Capitalist, by Roger Lowenstein Steve Jobs, Walter Isaacson Elon Musk, Walter Isaacson Be reflective Get feedback…
This month is a really good indicator of what happens when you have a truck sitting for too long. We had a truck sit the entire month and the impact on the bottom line is pretty easy to calculate. Craig and I spend a few minutes of this episode showing the impact that a sitting truck has on your net income. It's a pretty interesting case study. Be sure to listen in. What To Expect From Episode 156 We took a step back this month. Largely because of the truck without a driver. Here are the numbers: Total miles ran– 109,840 (Lowest since September of last year) Deadhead miles– 7,578 (6.9%) Total revenue- $239,743.84 All-in rate-per-mile- $2.18 (Moving in the right direction, three months in a row of improvement) Haulin Assets realized another little profit of $4,688.82. This is a decrease from last month and we ended our streak of doubling every month. But, at least we extend our streak of being in the black. June of last year was the beginning of a really bad streak of losses, I am super interested to see what happens this June. I am crossing my fingers that we can keep the numbers in the black through the summer. That will be a win compared to last year. There were a few expenses to take note of on the P&L, here are the areas we dive a little deeper into: 5 Payrolls Tolls keep going up and up Fuel is 27% of revenue…
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