Sorry, that I had to skip a day to complete this discussion on trucking businesses- and the future.
We’ve talked about why you have to consider autonomous trucking- where you aren’t needed as the driver as part of your considerations. And, you have to develop a business plan (not the 30 to 100 page tomes you see for larger firms), but about 5 pages that lets you have a road map- and signposts to ensure you are on your way to a profitable venture. (As discussed below, you also need this business plan to obtain your own carrier registration, to operate your own trucking entity.)
So, yesterday, I described how we learned about trucking and logistics. That is exactly why we now know how to help our clients in these endeavors. Whether it’s a common carrier (conveys freight for other firms) or private carriage (only carries freight for their own business), we understand the factors, the hidden issues, and the need to manage “the lone wolf” (the long-distance trucker) effectively.
When we started our dialysis company, we knew we were going to battle against some of the largest companies in the world. And, we were – if we were lucky- awfully teeny. But, we knew we had the absolute best product (yes, we were shy and retiring back then, too)- and we did our homework and knew how the marketplace operated.
Running a business? Then, you know that money you spend for meals – or entertainment- that are business related are not fully deductible. Oh, sure, if you spend $ 100 wining and dining a client, your profits have been reduced by $ 100. Except that’s not how it appears on your Schedule C or Form 1120 or Form 1065. Because only 1/2 of that expense is deductible.
So, on my father’s birthday, I spoke about positioning. And, Jack Trout. And, branding.