If a person wanted to go owner/op today
#31
11-18-2007, 03:34 PM
Being in business involves risk. Waking up in the morning also involves risk. Everyone must decide for themselves their level of tolerance for risk.
#32
11-18-2007, 04:04 PM
I am getting ready to take this leap. I think the biggest factor in becoming a O/O is your preplanning before you actually start. I have read every post on the subject I can find many times. I have asked Steve and Mike many questions that they probably shook their heads and said oboy here is a guy that has some learning to do.
A business plan is the first place to start. If you don't put a short term and a long term business plan together together the bumps in the road will probably bite you. With any new business there will be mistakes and if you haven't put in your business plan a few costly mistakes you will probably be in trouble fast. I have been putting everything in order for almost a year. I have 0 debt at home and will have 0 debt and about $30K in reserve when I decide the time is right. I can see someone going to the bank and signing their life way and becoming a slave to the bank having trouble.
#33
11-18-2007, 06:03 PM
Guest
Posts: n/a
Originally Posted by Sonny Pruitt
There is no room for trial and error at 3.50 per gallon
and The first years are plenty of trial and error Steve you made it but you came in well financed you have no responsibities except your truck and you actually live in a truck you have the confidence of knowing you can walk away tomorro and go back to an office job with your knowledge The shock of a 7000+ fuel bill at the end of the month + payments is a tremendous amount of money for the average new independant There are people here now who would be in different shoes if it weren't for the help of fellow members he but how many times are you going to share your contacts with every Tom Dick and Harry who announces his desire to get his own authority? This is a busness and in many ways we are competition There are guys who are doing well but they forget how hard it was to determine a comfort zone and how many ridiculous loads we took to find what was decent. They cost is so high in the last few weeks that I there is no room for mistakes thus my 7.00 example IMHO cold calling for shippers is good but it carries more risk and should be approached very carefully Why is someone so eager to ship with you? What happened to the last guy? etc Yup, OK, I agree.
#34
11-20-2007, 12:20 AM
Member
Join Date: Jul 2005
Location: Los Angeles - Austin - Houston - Dallas - San Antonio - Laredo
Posts: 191
The shipments don't have to leave the grounds, just as long as it's inside or on a truck. I was asked this week by the owner of where I park my truck if I wanted to rent out my flatbed until the first of the year for a local granite company.
Am I missing something? THX guys 
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#35
11-20-2007, 01:21 AM
Product is still considered property of the shipper until a bill of lading is generated and signed by the carrier's agent (usually the driver). There are shippers who, no doubt, fudge the rules here and there. Though companies do want to avoid paying unnecessary inventory taxes, It has been my experience that end of quarter and end of year shipping surges are more a result of the sales and marketing division wanting to get the numbers locked down for the current quarter so that their bonuses aren't reduced.
#36
11-20-2007, 05:08 AM
Originally Posted by Mandilon
The shipments don't have to leave the grounds, just as long as it's inside or on a truck. I was asked this week by the owner of where I park my truck if I wanted to rent out my flatbed until the first of the year for a local granite company.
Am I missing something? THX guys I had some carriers that would have 1 driver sign all the bills for the trailers we had loaded so I could relieve our inventory before the trailers were actually picked up. They did this during inventory week alot. If they didn't do this I had to back the trailers in and unload them and inventory them during our annual inventory. The last week of the year we tried to work with the customers to ship everything possible a week ahead and have it on the road the last day of the year so nobody had to claim the inventory. Most of the carriers worked with me on this too. They would try and route the loads with drivers who could pass their house and sit on the load over the new years.
#37
11-20-2007, 08:30 AM
There are only a very few states that have inventory taxes(Indiana is one). Inventory is simply a cost of doing business not a taxable item for manufacturer.
The reason they push it out the door is take credit for revenue/sales. In GAAP you can accrue expenses but you can't accrue revenue. Revenue has to have an invoice and that's why you see big companies, especially publically held push product out the door at end of month or end of quarter. |
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