Episodios

  • #163. The Road to Better Safety, pt.2
    Sep 18 2024

    In episode 160, we talked about CSA scores and how they work and some best practices. Managing the safety program for a trucking company is not an easy job, whether you are an O/O or have a fleet. There is a lot to know and do. So, what happens if you didn’t do a good job with those things and you are under the FMCSA’s microscope?

    In these two episodes, Craig and Chris are joined by Alex from Motor Carrier HQ to pick her brain about her experience with the FMCSA, maintaining good ISS scores, and how to get yourself out of a hole if you find yourself in one.

    Get the full show notes at haulinassetsllc.com

    Check out MotorcarrierHQ.com

    Find our courses at haulinassetsacademy.com

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    31 m
  • #162. The Road to Better Safety, pt.1
    Sep 4 2024

    In the last episode on safety, we talked about CSA scores and how they work and some best practices. Managing the safety program for a trucking company is not an easy job, whether you are an O/O or have a fleet. There is a lot to know and do. So, what happens if you didn’t do a good job with those things and you are under the FMCSA’s microscope?

    In these two episodes, Craig and Chris are joined by Alex from Motor Carrier HQ to pick her brain about her experience with the FMCSA, maintaining good ISS scores, and how to get yourself out of a hole if you find yourself in one.

    Get the full show notes at haulinassetsllc.com

    Check out MotorcarrierHQ.com

    Find our courses at haulinassetsacademy.com

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    31 m
  • #161. July 2024 Financials
    Aug 21 2024

    Haulin Assets Academy

    Full Show Notes

    Haulin Assets T-shirts and More

    This year has been better than last year, but we are still not where we want to be. Hopefully, things continue to gradually improve as the year goes on. Here is what July looked like.

    • Total miles ran– 118,563
    • Deadhead miles– 9,649
    • Total revenue- $243,804.91
    • All-in rate-per-mile- $2.06

    Haulin Assets realized another small profit of $10,342.41. That continues our profitability streak of 10 months, but cashflow is still negative and we talk about that a bit, including a big change to help alleviate some of the pressure that causes.

    Here are some areas of the P&L that we highlight.

    • Factoring
    • Fuel
    • Repairs
    • Taxes and licenses
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    33 m
  • #160. Boosting Your CSA Scores: Navigating DOT Inspections and Safety Ratings
    Aug 7 2024

    What do peaches and the FMCSA Safety program have in common. You'll have to listen to find out, but I will tell you, understanding the low hanging fruit principle can help you stay out of hot water with the FMCSA. We cover a lot in this first episode of a two part series on the FMCSA Safety program. It can be tempting to neglect safety, especially when you are struggling to survive in a tough market. However, failing to manage your safety and your FMCSA scores can sink your company faster than low freight rates. Listen to the episode as Craig and I share some great tips when it comes to safety.

    What To Expect From Episode 160

    BLUF (Bottom Line Up Front), If you want to have good CSA scores, be safe, maintain your vehicles, obey traffic laws, and don't break the hours of service rules. With that being said, we give a lot of tips about what the CSA scores are, how they are calculated, and some of the best practices to keep them low. Lower is better. Here is an outline of what we cover.

    What Are CSA Scores

    Most Motor Carriers receive scores in 7 Behavior Analysis and Safety Improvement Categories, which wrapped up in a nice little acronym called BASICs. The categories are:

    • Unsafe Driving 65%
    • Crash Indicator 65%
    • Hours-of-Service Compliance 65%
    • Vehicle Maintenance 80%
    • Controlled Substance 80%
    • Hazardous Materials Compliance 80%
    • Driver Fitness 80%
    • Insurance and Other (This one isn't really scored, it's more like pass or fail)

    The percentages are the thresholds, we explain those during the episode.

    How You Get Your CSA Score

    The simple answer to this question is they come from interventions with the FMCSA/DOT Officers. Those can be anything from roadside inspections to an audit. Most inspections occur at Ports of Entry or because of an inspection that happens when a driver is pulled over for a moving violation or obvious vehicle maintenance issue. One of the biggest contributors to the number of inspections you get is your ISS Score (Inspection Selection System). You can check your score and a lot of other important things regarding your company's history with the FMCSA by logging into their system here.

    Understanding The Scoring System

    The scoring process is a bit complicated. I am going to over simplify it, but here is the general idea. Every time you are inspected your company receives a score. If there is a violation, you get bad points. If the inspection report is clean, you get good points. The formula the FMCSA uses basically divides the bad points by the good points. If you have more good points than bad, your resulting "measure" will be less than one. If you have more bad points than good points, your "measure" will be higher than one. Good inspections will give you more good points and lower your "measure". Your "measure" is then compared to all the other fleets that are roughly your same size. If you are right in the middle, meaning half the companies have a "measure" lower than yours and half the companies have a "measure" higher than yours, your BASIC score will be 50%. If you are in the top 10%, your score will be 10%, etc. Every BASIC has a threshold, if you are above the threshold you are going to be on the FMCSA's radar. You just became low hanging fruit, if you don't know what that means, listen to the episode.

    If you really want to nerd out and dive deep into the methodology and calculations, you can learn a lot by clicking on this link and reading the document.

    Understanding The Consequences Of Your CSA Scores

    There are several things that happen if your CSA Score exceeds the threshold.

    • You are going to get a letter from the FMCSA saying you need to behave and do better
    • Your ISS Score is going to increase and your are going to get inspected more, when that happens, most scores get even worse
    • If your score stays elevated for a while or if you exceed the threshold in multiple categories, you are way more likely to be audited, that's when the fun really begins

    Most audits result in a Safety Rating, either Satisfactory, Conditional or Unsatisfactory. In part two of the series we will talk about what happens if you get a bad safety rating or if the FMCSA tells you that you need to complete Corrective Action Plan.

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    37 m
  • #159. How To Avoid Fraud In The Trucking Industry
    Jul 24 2024

    Haulin Assets Academy: https://www.haulinassetsacademy.com/

    Motor Carrier HQ: https://www.motorcarrierhq.com/

    This is a topic I wish I did not have to cover, but fraud in the trucking industry is going crazy right now and it is affecting all of us. Being dishonest is very short sided and will catch up with you in the long run. There is no place for dishonesty in the business world. In my opinion, fraud is one of the worst forms of dishonesty.

    What To Expect From Episode 159

    Why is fraud so rampant right now? I have my theories that Craig and I discuss, but I think it stems from the tough market we are in. Here are some of the more common types of fraud that we talk about:

    • Double brokered loads (We spend a lot of time on this one)
    • Companies that pretend to be the FMCSA, DOT, IRS or State Agency
      • Emails from government entities should end with a .gov not .com
    • Card skimmers
    • New Entrant Audit scams
      • Watch out for these domains
        • compliance@dotfilings-fmcsa.com
        • compliance@usdots-fmcsa.com
        • @fmcsa-gov.com
        • @safer-usdot.com

    Being vigilant and skeptical is your best weapon. Here are some of the things we talk about watching out for:

    • Formatting is off on the rate confirmation
    • Rate confirmation is missing information, like your company name
    • The logo looks blurred or otherwise messed up
    • The rate is well above market rate
    • Email addresses with a domain that does not match the company
      • Gmail, Outlook, iÇloud, Yahoo, etc email domains are a big red flag
    • New domains, you can check the domains age at https://www.whatsmydns.net/domain-age

    Verify everything, especially when working with someone for the first time

    • Independent internet searches
      • Call the phone number you find independently, not the one on the paperwork they gave you
    • Your factoring company
    • Get a second opinion from someone you trust or someone who is an expert
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    33 m
  • #158. June 2024 Financials
    Jul 10 2024

    Haulin Assets Academy: https://www.haulinassetsacademy.com/

    I start off this episode ranting a bit about a couple of challenges I faced recently. One involved being dropped from a load that I think was completely unwarranted. The second situation was because of a strong oder in a trailer that wouldn't go away, even after a washout.

    What To Expect From Episode 158

    We are not where we want to be, but if you look at June of last year verse June of this year, we are in a much better spot. All the trucks are running. Here are the numbers:

    • Total miles ran– 118,237 (The sitting truck was back working for about half the month)
    • Deadhead miles– 8,806 (7.5%, Creeping up. I have expected this and explain why)
    • Total revenue- $244, 523.12
    • All-in rate-per-mile- $2.07 (Drop from last month)

    Haulin Assets realized a profit of $23,521.93, that is the second best of the year. What has me even happier is that it is $46,983.01 better than last year when we had a loss of $23,461.08. We continue to extend our streak of being in the black, that makes me happy. If we continue to see profit through the summer I will continue to get more and more optimistic that the market is finally turning the corner.

    The P&L was pretty bland this month. Additionally, I explain why we were able to have a lower all-in rate-per-mile, but had a higher profit than last month.

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    25 m
  • #157. Be the Leader Your Trucking Company Needs
    Jun 26 2024

    Haulin Assets Academy: https://www.haulinassetsacademy.com/

    Throughout my military, business ownership and corporate careers I have held many different types of leadership positions. I have lead groups with just a few people to groups with hundreds of people. I am a much better leader today than I was 20 years ago. I hope this episode will give you some things to think about so you have a leg up to becoming a better leader. Keep in mind that a great leader positively impacts an organization in ways that are immeasurable. Great leadership is a multiplier for your organization.

    What To Expect From Episode 157

    Whether you are a single owner operator or the owner of a fleet of trucks, you are the leader of your trucking company. I want to share some of the things I have learned over the years about being a good leader. Some of the greatest leadership lessons I have learned came during difficult circumstances. Here are a few of the leadership experiences I have had that have helped me gain experience: Army Engineer Company Commander in Afghanistan, starting and running multiple businesses, running businesses in difficult times and learning how to lead at the Army's Sapper Leader Course under extreme hunger and fatigue.

    During this episode, Craig and I break down and expound on the following keys I feel like are imperative to being a good leader for your trucking company. Here they are:

    • Provide good direction and guidance
      • Good company policies
      • The type of drivers you hire
      • How big of a company you will be
    • Build a good culture
      • Safety
      • How hard your drivers run
      • How your drivers are treated
      • Hiring process
    • Be a servant leader
      • Find ways you can serve your drivers
    • Find ways to give your drivers a win
    • Be self-aware
      • Be honest with yourself, change the things you do that cause problems

    Leadership is a life-long endeavor. You should always work on your leadership skills. Here are some ways I like hone my leadership skills.

    • Read great books on leadership, here is a list of some of my favorites:
      • Good to Great, Jim Collins
      • Speed of Trust, Steven
      • Start With Why, Simon Sinek
      • Biographies
        • Ulysses S Grant
        • Alexander Hamilton
        • Buffet: Making of an American Capitalist, by Roger Lowenstein
        • Steve Jobs, Walter Isaacson
        • Elon Musk, Walter Isaacson
    • Be reflective
    • Get feedback
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    40 m
  • #156. May 2024 Financials
    Jun 12 2024

    This month is a really good indicator of what happens when you have a truck sitting for too long. We had a truck sit the entire month and the impact on the bottom line is pretty easy to calculate. Craig and I spend a few minutes of this episode showing the impact that a sitting truck has on your net income. It's a pretty interesting case study. Be sure to listen in.

    What To Expect From Episode 156

    We took a step back this month. Largely because of the truck without a driver. Here are the numbers:

    • Total miles ran– 109,840 (Lowest since September of last year)
    • Deadhead miles– 7,578 (6.9%)
    • Total revenue- $239,743.84
    • All-in rate-per-mile- $2.18 (Moving in the right direction, three months in a row of improvement)

    Haulin Assets realized another little profit of $4,688.82. This is a decrease from last month and we ended our streak of doubling every month. But, at least we extend our streak of being in the black. June of last year was the beginning of a really bad streak of losses, I am super interested to see what happens this June. I am crossing my fingers that we can keep the numbers in the black through the summer. That will be a win compared to last year.

    There were a few expenses to take note of on the P&L, here are the areas we dive a little deeper into:

    • 5 Payrolls
    • Tolls keep going up and up
    • Fuel is 27% of revenue
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    27 m