Owner Operator A More Rewarding Life


by Doug Young - Date: 2008-10-23 - Word Count: 952 Share This!

When you become an owner operator, you can experience more freedom from supervision than a company driver experiences. You're able to manage your hours better and more profitable. You can take time off when you need it. But those freedoms don't come without a big trade off, that being the need to be financially responsible and self disciplined. The challenge's are sometimes great, but the rewards for those who are successful, are greater yet.

Whats your motivation for wanting to be an owner operator? If you answer to make more money, have a more rewarding life, and to work hard, you will have a good chance at obtaining success. To be a successful owner operator you must be driven by financial rewards for your hard work, time and investment. Is it a good time to become a owner operator? Consider the Long term outlook of the trucking industry, the tighter regulations and restrictions on the truck driver's health and safety, the new hours and of service regulations (HOS). All these factors contribute to a industry wide shortage of experienced, safe and reliable drivers. to look further down the road, you can expect that driver supply will continue to be very weak as the truck driver work force ages and a lot of truck drivers retire. There is a very strong competition for truck drivers from all the major carriers.
Before you jump into becoming a owner operator take your time and prepare yourself.

This is good news for owner operator and company truck driver pay. Most all the best trucking companies have introduced major pay raises in the last year, and are expected to continue in the immediate future as demand for truck drivers remains high. Even better news for the truck driver is the increased revenue realized by the owner operator. Most owner operator's income has averaged somewhere between a 20 percent to 30 percent higher income in recent years than that of the company driver .

THE OWNER OPERATOR STEPS TO SUCCESS: Truck drivers who become owner operators should already realize the need to run a lot of miles while still driving safely and legally. But there are other qualities that you must have or develop that are important, also.

YOUR BUSINESS PLAN:. You have to develop your own business plan and develop a regular truck maintenance program. You have to plan both for the hard times when it's tough to find a truck load and for the times truck load available are good. You have to set strict goals for where you want your trucking company business to go. If you don't take control of your business then you will not realize the financial reward's available to you from owning your own truck.

DEPENDABILITY AND RELIABILITY: Your main goal should be the need to provide good customer service for the shipper or carrier you are hauling for. Being dependable means you will get the highest paying loads that you need to get the revenue you want.

DESIRE AND MOTIVATION: Unless you have a strong desire to earn money, the advantage of being an owner operator will not mean much when that truck payment is due. And this means making yourself ready to accept available truck loads and being wise in choosing the loads that will make the most money and not leave you in a place that is hard to get a load out of.

THE DESIRE AND WILLINGNESS TO LEARN: continually seek to obtain good knowledge. Always be asking questions to obtain good advice. No matter how experienced you are, there are always others who you can learn because they have a different perspective or different experiences and points of view. If your not open to new information, you might be slamming the door to a successful business.

KNOWING YOURSELF: Part of being a successful owner operator (or any business owner)is knowing what your limitations are and learning to overcome them. Knowing the areas where you lack experience and either work hard to gain the knowledge or seek help from a mentor. Capitalize on your strong points and strive to overcome your weaknesses.

DOING YOUR OWN MAINTENANCE: You don't necessarily not have to be a mechanic (but it sure helps)do the major work on your truck, but it is a necessity to understand how a truck's systems and components work. Just keep in mind that every dollar you save by doing simple maintenance yourself is another dollar that your right to your bottom line.

BUYING OR LEASING YOUR TRUCK: The decision to purchase or lease your own truck is a huge one, that requires careful research. If you are not experienced to trucking, consider getting at least a year or more of driving experience ensure that you can be a safe and productive driver. Another consideration, before making the leap to an owner operator, is to talk to other owner operators about their past experiences and what they would do differently if they had to do it all over, keeping in mind that their individual opinions shouldn't overly influence your decision. Most of the successful owner operators start modestly and manage well. Until they learn the ropes of owning your own truck and managing your expenses both business and personal. As you build your trucking business, you should be able to afford some extras every now and then, as well as save for your future. By treating the opportunity of being a owner operator and managing your business instead of just driving down the road, you should be able to put more money in your pocket and be a successful owner operator. With that also comes the responsibility for much more, such as bookkeeping, taxes, and financial goals. Obtaining a good accountant can provide the guidance you will require.

Related Tags: truck driver, owner operator, truck driver jobs, owner operator loads

Doug is an editor for www.infotrucker.com where you can see many trucking and truck driving articles of his and others

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