Blue Ribbon Podcast

In Episode 55 we talked about how the Trucking Industry provides a unique opportunity to build wealth with very little financial investment. “Truck and Grow Rich” is a play on words that describes how easily an individual with an attitude of service and a work ethic to earn a million dollars in as little as ten years. In this latest episode, we discuss managing risk. What we prescribe in our program is not easy, and it is not without risk. However, this risk can be managed. Come along with us as we dive in to seizing this opportunity and managing the risk that comes with it.

There is a lot of negativity in the trucking industry right now. There are too many trucks available for the number of loads to be hauled and that has affected the rates. Our aim in this episode is to look beyond all that and attempt to show you that a unique opportunity exists in this industry that doesn’t really exist anywhere else. Obtaining and keeping a CDL is VERY easy to do. If you can get a CDL and keep it, you have an opportunity to build wealth very quickly. At a time when people are spending hundreds of thousands of dollars to get college degrees that aren’t worth the paper they’re written on, the trucking industry offers a wealth building opportunity you just can’t find anywhere else. Ride along with us as we explain how to see this opportunity. TRUCK and Grow Rich - A Trucker’s Trip Plan to Become a Wealthy Lunatic

This has been a hot topic over the last few years. There are many truck operators and truck owners that will argue until they turn blue that they can legally pay drivers on a 1099 instead of a W2. The intent of this episode is to make the point that it is in fact NOT legal and it is both a really stupid way to run a business and also a stupid way to be paid. Drivers should NEVER accept a 1099 contract. Ever.

Zeke Goodwin is my closest and best friend. You've heard him on the podcast before. I brought him on the show this week to allow him to share his story of how he rebuilt his life through his job as an over the road driver. He was jobless and homeless. It was a dark and scary time. The trucking industry doesn't get enough credit for how it provides a way for people with little or no assets to earn a living and have shelter from the weather.

In this episode of the show, Larry sits down with fellow Landstar BCO Steve Wheeler. In addition to his experience as an owner/operator, Steve has experience as an accountant and bookkeeper. Their conversation is about “keeping score.” You cannot know the health of your business if you do not possess the statistical data to measure what freight you can haul and what you can’t. Larry and Steve also discuss important topics like -

When to file as a corporation versus a sole proprietor

How to save for maintenance

Use a P&L (Profit and Loss Statement) to watch your cost savings strategies that affect your bottom line.

Most importantly, find and monitor your CPM (Cost Per Mile). This is the only way to know what freight rate you can haul for a profit.

Fuel is the biggest expense for a truck operator. In this episode, Chris and Larry discuss the methods and principles of fuel - where and how to buy it and how to manage consumption.

In this episode, Larry and I discuss how Blue Ribbon manages to survive and grow in a market where rates are down. With the news breaking nearly every week that another trucking firm has closed its doors and left drivers out of work, how is it that we are growing our fleet and looking for new opportunities? The answer lies in the foundation of the company and the decision that are made when we acquire equipment and how we operate it. We also discuss what to do when you want to get your own truck and the perils of lease/purchase contracts.

This is the episode I’ve been waiting 18 months to produce. From the moment I met Larry Long, I knew he would be the perfect addition to this podcast. He is a great storyteller and has an unbelievable wealth of knowledge and experience. He’s owned and worked in multiple businesses and industries for nearly 50 years. In this episode, we talk about the unconventional route he took to end up in the trucking industry and allow him to explain his passion for helping drivers and for giving them the opportunity to own and operate their own successful trucking business.

Check out our website www.bluieribbonlogisticalsolutions.com

This is a special series on the decade that made me. Each episode will chronicle my journey from 2008-2018 through successes and failures, and ultimately to redemption.

This is a special series on the decade that made me. Each episode will chronicle my journey from 2008-2018 through successes and failures, and ultimately to redemption.