Quote:
Originally Posted by RostyC
I'm going to have to +1 on this. It wouldn't matter what business they're in, they'd be broke.
There will always be those who want to take short cuts to become successful. There are no short cuts. Those who succeed sacrifice and save their money to achieve their goals. There are those who want the easy way to riches. I have known a number of people who have achieved a high level of success. None started out spending more than they earned. They may have had an old worn out car or truck and saved until they could buy something better. They had a goal. They made a plan and worked that plan to achieve their goal. I remember a young guy whom I met briefly about 30 years ago. He was a multi millionaire. It turned out he had a fleet of garbage trucks. He started with a single truck. He became successful by doing something others would not do. He picked up garbage. He also didn't start out with a new truck. When I met him he had new trucks, but that isn't the way he started his business. He also didn't have more than a high school education. I think this guy would have been successful no matter what the world threw at him. I had an opportunity to talk with a couple of his drivers. He was well thought of by his drivers.
Things don't always go our way in life. There are some people who are in love with the idea of being an owner operator. They never worry about how much money they earn. They just want to look cool in their truck. The goal is to make money. A truck is merely a tool we use to make money. It doesn't matter if it is a new or old truck, it should make money. If we start with an older truck that is in good shape we can save until we can afford to buy something newer and nicer. It doesn't matter if the truck is an old cabover or new Peterbilt 389. They guy who buys the older cabover is more likely going to be successful than the one who buys the new Pete. That doesn't mean the the guy with the cabover will never own the new Pete, but it is much more likely that he will make money and do well. The main reason is that he has his priorities in order. There is nothing wrong with having a new truck. I have spoken to several who have lost those new trucks during this depression. The guy who has been driving the older cabover will likely be able to pay cash for one of those repo's and get a good deal. He may also hire the guy with the new truck to drive his truck. I spoke with one guy the other day who bought a new Peterbilt about 4 years ago. After making payments for 4 years he lost his truck with only 1 year left on the payments. When the economy was doing well he could make the payments. When things turned bad he could not longer make those $2,000+ payments. This is the main reason why I suggest people start with an older truck. Had this guy had an older truck with cheaper payments he would likely have been able to keep it. In fact, he would probably have had the older truck paid for.
Those who have a history of failure will always blame others for their shortcomings. They will never take responsibility for their actions. We cannot control the economy or outside forces. We can control how we react to those outside forces. Of those former owner operators whom I have hired, none took responsibility for their failure. It was always someone else or outside forces that caused him to fail. It had nothing to do with decisions he made or him over extending himself. That doesn't mean that there are not legitimate reasons for some losing their trucks. There are those who become ill or have family members who are ill and they cannot work. The economy can also be a factor. But for the most part, it is how we deal with these situations that can make the difference.