Putting together a business plan and could use some major help please, please, please!

[Lifesbeachy]

Hello everyone, I am currently putting together a business plan as far as straight truck expediting goes and I was hoping to get some real planning and strategy advice. I will try and keep this short and to the point, but ANY information would help just so much.

So I will try putting this into a list of what my goals are and they a list of what my needs and questions are. For the person offering the best help I would even be willing to pay for the coaching! Thanks so much.

Background: Mostly tractor trailer company driver; Experience includes Dry van, Reefer, Drop deck, produce, general commodities, water heaters, and carpet as well as probably some other freight that I cannot remember.
I have run solo and team. Coast to coast and regional as well as dedicated. I am very good with customer relations as well. Never been late on a load, nor have I had any DOT violations, knock on wood. I have even done a short stint with expediting.

Goals:

1. Start off driving for a reputable fleet owner, currently expediter services is on my radar. Expected time frame with them until ownership is around 6 months, preferably in an ideal world.
2. Purchase first truck with debt management being the first priority to build up equity quickly for leverage purposes in order to acquire a second truck by the end of one year.
3. During the second year I would like to use most excess profits to pay down debt load and acquire 2-3 more trucks.

Third year goal would be ownership of enough trucks to start managing the business from home.

My questions are in regards to actual operating expenses; Fuel costs, truck payments, load payment averages, and other fees incurred by operating for FedEx, and what seems to work the best for the success of such an operation.

Next question, could one feasibly obtain their own authority in order to have more load options available to them at any given time, or would FedEx blacklist someone for doing this.

If you are willing to share this with me, I would also love to know what the average weekly gross revenue is per truck, per week.

If you could go back and start all over again, what would you do differently? What would you keep the same?

Hypothetically but realistically, at my age of 29, where could I feasibly end up by the age of 40?

I know that a lot of this is very private information but I am just really trying to stay ahead of the game here and make the best decisions that I can.

All information is so helpful in my planning stage, and again I am willing to give back in the future, especially from someone willing to help coach me along and help with my planning stages.

Your thoughts are more than welcome, harsh or generous. Thank you from the bottom of my heart!

MJ

 

[numberonedriver]

You can pay a company to write your business plan and help you do everything the legal way and do it faster

 

[ATeam]

I have a couple of initial thoughts to share with you, Lifesbeachy.

1. Subscribe to QuickBooks Online and learn how to use it, actually learn how to master it. In other words, learn how to keep a good set of books. If expediters have a common weakness, it is that they do not treat their business like a business. Using a big-boy accounting program will force you to keep books like real business people do. It will force you to come to terms with complex concepts like chart of accounts, net worth, depreciation and present value of a future sum. It will also give you the ability to easily discuss your business circumstances with accounts and others you may want to include on your team. It will give you the TRUE picture of your profitability, budget, etc. (as opposed to the wishful-thinking, bragging-rights picture some expediters look for and sometimes boast about to others). QuickBooks will give lenders the view of your business and of yourself as a business person that will make it easier for them to say yes to you and easier for you to negotiate favorable terms. Anything short of QuickBooks may work for a while but it will prove inadequate as you grow the kind of business you have in mind.

2. You did a fair job stating your goals but you did not share why you wish to achieve them. If your "why" for being in the business in the first place does not align with your core beliefs and values, the business will feel more like work than fun. If you are not yet crystal clear on your beliefs and values, get crystal clear. Without that, you risk wandering around lost, reacting to the latest random idea that sounds good but may not be good.

Diane and I are former expediters now in the fitness industry. In our gym, to help people align their fitness programs with their core values, we coach people to ask "why" until the answer is obvious. I invite you to use the same technique in expediting. Example:

I want to lose 20 lbs. in 10 weeks.

Why?

Because I have a class reunion coming up and I want a smaller dress size.

Why do you want a smaller dress size?

Because I want to look good in front of my former classmates.

Why do you want to do that?

Because I don't want them to think bad of me.

Why do you not want them to think bad of you?

Because I don't want to think bad of myself.

Why do you not want to think bad of yourself?

Because it's painful to do so. I don't like feeling bad about myself.

Why do you not like feeling bad about yourself?

Because it's painful. It makes me cry. It's de-energizing. It sucks. I don't like feeling that way.

The obvious answer has been reached.

From there, we can re-frame the self-talk.

So is what you are really saying is you want to feel good?

Yes!

Why do you want to feel good?

"Like Duh!" Why wouldn't I want to feel good? I want to feel good because it feels good.

There are lots of ways to do that (drugs, gambling wins, sex, meditation, sugar and carbs, become a fan of a winning team, help others, praise God, go shopping, etc.). You happen to be sitting in a gym talking to us at the moment, so can we talk about using fitness to help you feel good?

From there we'd help the gym member consider it a win every time she completed a workout. It would not be about meeting a deadline. It would be about keeping a workout schedule. It would not be about feeling good in the future after a certain milestone was achieved. It would be about enjoying now the feeling of accomplishment every workout produces and enjoying they chemical boost and feeling of well-being the brain produces in response to physical exercise.

Another example:

I want to get in shape.

Why?

Because I want to get easily in and out of my truck.

Why do you want to do that?

Because if I cannot, I may have to give up trucking.

Why do you not want to give up trucking?

Because I love the road. I love being out. I'm a trucker. I'm not ready to give that up yet. Trucking is who I am. Trucking is what I do.

The obvious answer has been reached.

Back to you, Lifesbeachy. Why do you want to be a multi-truck fleet owner?

You don't need to bare your soul in this forum to answer your "why" questions, but in private you may find this to be a worthy exercise to do.

When you are crystal clear about your core values, you can design a business that aligns perfectly with them. When you have a business like that, it's fulfilling and fun. The work does not feel like work at all.