How To Stay Afloat As A Carrier In A Down Freight Market? Cash Flow, Strategy, & Tips
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- Опубликовано: 13 сен 2024
- Let’s chat about what we can do in order to adapt to the current craziness. We know we can’t do much to change the freight market and diesel prices, but we can adapt to it to survive until better times come.
Cash Flow Video: • Carriers Are Shutting ...
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The strongest business & people focus more on things they can control than things they can't. We don't control the market or the rates. We do control our operating costs, how fuel efficient our equipment is, how new & reliabile our equipment is, how leveraged our business is, how leveraged our personal lives are & how much capital we have in cash a reserve. Weak people & weak businesses focus more on things that they expect others to provide them with such as good rates because they are not interested in displacing the effort to maximize efficiency on the things they have direct control over.
Oh Miranda ur a sweetheart, thank you for all that you do.
All great points and thank you again Miranda for the time you take to make these videos.
There’s a lyric in a Spanish song that goes like this”It’s not getting to the end of the race first it’s knowing how to get there no matter what.” We have to be smart and pull the resources here and really use good business sense to make it thru this. I echo your sentiments about what a great community th is channel has become. God bless.
Love your strategy. Thank you, Professor Miranda ❤
Miranda you are so knowledgeable I appreciate all of your videos. I 100% agree with being on time and great communication great job 🎉🎉 2 years in business hopes to better times in trucking ,🚛🚛
Learned, I thought! Never heard “elbow-biting”, however it’s meaning is clear. My vocabulary has been expanded! Thanks.
Thx for your knowledge Maranda
Great points! See this is exactly what I meant. These little adjustments and the tips here are VERY helpful. Great job as always
Well said Miranda, I feel you on "patience and speed" only a few can relate to that! no shortcuts to getting to that level.👏🏾💪🏾
Your #1 this side of the Mississippi River Valley
Be grateful that a shop will allow you to use a CC. I have come across many shops refusing to accept a card if the bill is over a certain amount.
Hello Miranda from N.Carolina. Have a Blessed week.
I love your sharing of knowledge. God bless you and your family.
I do end up sitting and waiting on that load someone fell off of. Or DH on out myself.
TQL seems to jump them the highest in the afternoon on loads not covered or someone fell off of , after watching the newest / refresh part of DAT!
It just baffles on these carriers taking cheap freight. Good luck surviving!
Hi Miranda Happy Monday another week to tackle.
Great point about looking at the gross income and not just the rate per mile. I’m all about how much profit I can make in one week. It’s a delicate balance between RPM and Gross Rev. Thanks Miranda
THIS VIDEO IS ABOUT PLAYING CHESS. NOT CHECKERS. ONE OF MY FAVORITE VIDEOS
Thank you😊
Interest & fees on cards eat up profits. Find steady shipments that pay on time. Sell service, everyone loves great service. Be the one company that shows up on time and not complaining. Believe me, shippers notice bad attitude.
Amen to the credit card theory. People don't know about that but cash back is King on those things. You got to pay for fuel anyway, May as well get cash back. For instance, 4% on $4 a gallon will get me $0.16 off per gallon. I have like three or four credit cards that give me anywhere from 3 to 4% cash back on fuel up to a certain amount a year and I utilize it all. I also have a Citibank card where I get 2% cash back unlimited that I utilize after I use the 4 and 3% cards up for their annual amount. It helps to be a penny pincher during a bad market. Lol
Until something crazy happens and you can’t pay the bill
Thank you for yesterday...
good morning maranda...please have a wonderful week...
perfect video
Happy Monday Miranda ❤️
As Always Miranda is rolling))) thx for cool video
I also have chase Ink but the credit is too low
Great videos Miranda I watch your videos religiously! Just curious to know regarding supply and demand, do you think Independent Owner Operaters could come together to help get rates up, versus waiting on one another demise to help get rates up through the market readjusting itself? I said that to say, what about making some videos and using your platform to help us come together to help save one another we all have families to feed! Keep up the great work 💪
Not going to happen man. At some point you need to change and adapt yourself because if drivers keep taking these loads then maybe that means that’s what the loads are worth. A free market doesn’t care what YOU think you’re worth.
I don't really even think about Rpm at all when booking loads. I'm looking at who is the broker, total rate, pick up/drop off times, where it's picking up/going and anticipated fuel usage when comparing loads. Commodity only plays a small role usually just for determining fuel usage. Don't care how far it's going. Only care about surpassing an average daily income away from home (including reset days) after fuel expenses and tolls.
My way of coping for this market is selling my 17’ boat. Please reply if interested. This channel is heavens sent❤
That sucks but the time to prepare our businesses for a bad market is during a good market. Not by selling things we were over extended on.
I sell insurance for engine repair. It’s fairly inexpensive and even if you don’t use me at least inquire about it from your insurance agent.
Fell off once in 4 years? Oh wow! That's just incredible.
Good morning!!!
Good morning 🌄🎉
We survive thanks to RUclips
Check calls? This is a dying process do to trackers on phones. Integrity? Ops teams blame drivers or brokers depending on the audience. Ops teams don't listen to drivers when legitimate situations arise. For example, we will miss the boat to Korea
I was in MS today and fuel has dropped to $3.99. Now I'm in AR and fuel is around $4.29.
It just feels like extortion at this point.
The only reason I am stil in the business is because I am paying fuel with business credit card. If the market doesn’t get better in the next few weeks, I will max it out ($35k)
What?? Wow!! Good luck!! I parked a few months ago and waited for things to turn around. They haven’t.. For MY business expectations.. sold trailer and gonna drive a company truck for a while.
Very Very simple if you don't need it don't buy it!!! Hey I've been through strikes ,company's folding up, walking picket lines, you name it diversify !!! Hey donate plasma and blood donation pay!!!😀Go Miranda!!!!😀
What licenses do I need to work in the cargo van?
I think that we as owners operators should have some kind of union have a way of doing business with shippers only and cut the broker part. We need to support an idea like that because the big corporations are going to sweep us out. So need to be done. And you are very welcome to start something like that. Even if we have to have a fee every month for the start of the idea maybe a membership it would be easier for everyone. But need to start soon or we are going to be gone little by little. Please let's do something
OOIDA makes this attempt. Might be worth researching.
Wits end.
Smart and beautiful.... A deadly combination
Maybe all this cheap rates are made to show companies how the drivers fell when you work all week long on the road to make pennies.
Hi Miranda
Can I use some of your moves for our company Facebook
Go for it!
I sold my truck an trailer I'm not playing this game with these people when rates get better I'll do it again definitely not working my self to death for nobody
Leaving Dry Van 53, Like the Comment if you believe Flatbed is better transitioning.
I've reached a point where I refuse to go to California based on principle alone.
They don't like us there, and I don't like them.
That state has gone downhill so quickly. I've decided to let them reap what they sow. But if others would like to head there, then by all means.
Why is your insurance so low. I'm in the $1300s
For the most part I didn't use real numbers but trailer, insurance and truck payments are real. Because we have been in business for 4 years with 0 accidents and 0 claims
Also ask your insurance agent about distance travelled. You can report at 500 radius, for example, and get a pretty massive rate reduction. Insurance agents won’t advertise that.
The 500 mile advice is only when you use Progressive. Insurance agents should always provide you with 3 to 4 options to choose from.
❤❤❤
👏👏👏
Being a responsible and knowledgeable mentor why don't you go in the market and get direct load ? You are well qualified and 4 years old company then why don't you take direct loads ??
You need capacity to get direct freight most times so when the shipper needs a truck you can provide it..
Exactly! 🧐
@@ftworthgent not always true. Just an excuse to not hit the streets for business
Hello I'm a owner operator making truck payments is there anyway I could turn this into my own business with the ein my company name my placards business account etc what you think
Are you leased on? Yes you can get your own Mc/dot etc and go on your own
Yes at least on
So they won't try to take the truck back for starting up my own LLC
Go get another job and hopefully you can cover your bills till the market gets better don't wear your truck out on cheap freight you will find yourself one breakdown away from a bad situation running junk freight
HIRE ME
Please don’t vote Biden
FJB
If you think a president is the problem in trucking you've already lost
Keep your word every TIME.
Jesus sees it.
Your source is Jesus
Giving free game 🫡💯