'Never give up' in drive to trucking success: New owners' pitfalls, best advice for the long term

Overdrive Radio

"Don't be afraid to ask questions." --Owner-operator Steve Massat: https://www.overdriveonline.com/trucker-of-the-year/article/15546000/ownerop-overcomes-physical-challenge-for-successful-career This Overdrive Radio podcast features Part 2 of our “exit interviews” with 2023 Trucker of the Year contenders. All put a special emphasis on short-term tactics, on proven long-term strategies, others might also adopt on the drive toward success with healthy profits. This exemplary group, too, delivered a strong current of advice for aspiring owners. Owner-operator Chris Smith operates Dreamline Trucking, our February Trucker of the Month with his wife and team owner, Ruth, leased to Southern Pride. Smith, as with Massat, advised not to get too starry-eyed out custom equipment with a big price tag associated starting out. "That's not what's going to make you money," he said, noting decades of hard work led to where he and Ruth Smith are today, pulling in veritable custom showpiece, a move made after considerable research and deliberation: https://www.overdriveonline.com/trucker-of-the-year/article/15307364/how-this-owneroperator-team-earned-success Massat, who pulls with a vintage 1989 Marmon tractor, does as much work on his rig as he can himself, stocking parts he knows he'll need when he sees deals on them. He reduces both his cash outlay and, given ready availability in his truck and/or at his home shop (he's home every weekend), costly downtime, too. Massat was Trucker of the Month in September. Rita and Roger Wilson preside over the two-truck Rita’s Absolute Trucking, Truckers of the Month for October: https://www.overdriveonline.com/trucker-of-the-year/article/15635072/lifes-a-lot-easier-ownerops-find-sweet-spot-with-two-trucks The pair have downsized considerably from early parts of this century when they were consolidating LTL freight from a Chicago-area warehouse with a much more sizable small fleet. Though we caught up with them on Sunday, what Rita called the Wilsons' "no-truck day" in efforts to build in the work-life balance that eludes so many over-the-road, she was also quick to note the necessity of giving it 110% for new owners to get past rough early days. South Mississippi-based Jay Hosty kept his eye on the finsh line, with a tip particularly for younger starting owners to set up a retirement investment account and contribute as much as you can to it from the get-go. The Roth IRA, in particular, he finds attractive given it's not taxed when you pull the money out in retirement. " Hosty pulls dry vans leased to Landstar, and pulled in the monthly nod in April: https://www.overdriveonline.com/trucker-of-the-year/article/15383689/frugality-focus-on-costs-pays-off-for-owneroperator-jay-hosty Finally, with advice to simply “never give up” on the mission for those choosing the owner-operator route in trucking, Walkabout Transport independent Debbie Desiderato, based in Virginia today, was our Trucker of the Month for June: https://www.overdriveonline.com/business/article/15544055/direct-freight-can-provide-consistency-in-topsyturvy-market As with others in this roundtable, she noted owners are best served when they devise ways to make themselves more valuable to whoever happens to be their customer. In her case, that's lately come in the form of trailer purchases to better serve one in particular on some new lanes out of her area. The story of how Desiderato came to that direct customer as an independent might be a veritable testament to the "never give up" mantra. Read more of that story in this feature from early in the year: https://www.overdriveonline.com/trucker-of-the-year/article/15541324/independent-debbie-desideratos-keys-to-trucking-success Those were but a small sample, a few little bites out of the apple of advice from this brain trust, though. Find more in the podcast and via all 10 of the 2023 Trucker of the Year profiles: http://overdriveonline.com/trucker-of-the-year