Find Your Base, Plan Your Strategies, Achieve Your Goals
The first step towards increased profits is knowing where you are. You need to focus, set priorities, and create a trucking profitability strategy on those things that are truly important and are going to enable you to reach your company’s goals and objectives. No distractions, no diversions.
Ask yourself these questions, and write down your answers in detail.
- Are you profitable?
- What are your strengths and weaknesses?
- What areas of your business, customers, lanes and operational areas are profitable and which are not? And most importantly WHY?
- What are your costs of doing business? Not just the variable cost of moving a truck from A to B, but all the fixed and overhead costs associated with it.
- Do you have the management depth to accomplish your goals?
- Does your pricing really cover all your costs and provide for a specific profit?
After you have answered all these questions in detail, you should be able to get a strong idea of where you are currently at with your business. This will provide a great benchmark for you as you move forward to the next steps.
Increasing your profits isn’t something that will happen over night, it takes time and planning. Your time and attention must be focused on these different areas of your business, and understanding them. A trucking profitability strategy or plan could help guide you in the right direction. Once these areas are working together towards your goals, you will start to see your hard work pay off.
Need help forming a trucking profitability strategy? Click the button below to see how Trincon can help!