Avoiding the Pitfalls of Commercial Truck Leasing

Why do some semi truck owners succeed when owning a trucking business while others fail? I have seen quite a few owner operators come to Lone Mountain Truck Leasing to get their truck and start their own semi truck business. A large portion of our customers take the truck off the lot, start hauling loads, make their payments, and get the title to the truck at the end of the commercial lease. During my tenure I have seen many success stories, even throughout the last two years which have been some of the most troublesome for our industry and semi-truck financing becomes more challenging.

Over time I have seen a large number of truck operators that have struggled to make it as semi truck owner operators. Some of these semi truck operators have been newbies while others have been more experienced. Regardless of qualifications, operators who can’t make it on their own share similar characteristics. However, many continue to make the same mistakes over and over again.

The best place to start when it comes to being a successful commercial truck operation is by focusing on motivation. There are many types of motivation but the best kind is the kind that comes from you. When I was going to school, I wasn’t a big fan of doing homework while others may have actually enjoyed it. But I did it anyway in order to be successful. Years later I developed a desire for something that truly motivated me, the commercial truck business. You need to ask yourself if you have the same motivation to run your own business. Some people think that running their own business and being their own boss is appealing. At the same time, others don’t think things through and consider everything owners have to deal with. If you think being your own commercial truck operator means working less and making more, then being an owner isn’t for you.

Commercial truck owners who are successful at running their own company, either as a single truck or a small fleet, it isn’t sufficient to simply be a driver. In addition to driving your truck you have additional roles as President, Financial Analyst, and Mechanic. If you don’t take on these critical business roles you can’t be successful. The reality is that you need to be a jack of all trades if you wish to succeed. You’ll certainly be doing more than if you were simply a driver. To keep a semi truck running at its best and run a profitable business, you must manage every one of these jobs well.

To be very successful in the commercial trucking business, you can’t just do the jobs that appeal to you and ignore the others. Rather, you must consistently do those things that help you excel in every area of your business. Being overly selective about which loads you and going to haul and where you want to go is another mistake. You need to select which loads will be the most profitable for your business and carefully manage your costs. Often times you’ll be taking loads or trips that aren’t all that appealing but they’ll keep you running. With internal motivation and an eye on the business, you do what you have to in order to run a successful semi-truck business.

Are you looking to run your own trucking business? Commercial truck leasing is a great option for owning your own rig. Our semi truck financing program is ideal for anyone who wants to sit behind their very own commercial truck.