Contractor Success With The Contractor’s Corner Team
Making the leap from company driver to a contractor is a major decision. Each year countless drivers put all their chips on the table and roll the dice. While many are successful, some are not.
In a recent conversation with Jeff Morton and Charley Mahon, the co-founders of Contractor’s Corner, we discussed some of the pitfalls of running your own trucking business and a few tips to serve as an ace in the hole.
Whether you are getting your ducks in a row or are just looking to take your business to the next level, their insights are valuable.
Here are some of the key takeaways from our conversation.
What To Expect
Ask any contractor about their experience of becoming one and you will get a million different answers. The truth, according to Jeff and Charley, lies somewhere in the middle.
What they could say without hesitation is that there is a tremendous amount of work that has to be done when you are running your own business. It isn’t always sunshine and rainbows, as some make it out to be. In fact, they point out that “80% of contractors fail.”
One of the biggest reasons for such a high failure rate is that there is a steep learning curve. Everything is on your shoulders to make your business work. While the carrier you are leased onto may handle some smaller items, the success of your business is yours to own.
Jeff also points out that there is a lot of confusion when you are just getting started. You may have heard that contractors at your specific motor carrier are making X amount of money, but that may only show half of the picture. Both Jeff and Charley were quick to point out that it can take months or even years to get to the point where you can realize your dream.
3 Tips from The Contractor’s Corner Team
The conversation wasn’t all doom and gloom, and there are plenty of drivers that successfully make the transition every year. According to the Contractor’s Corner team, the successful contractors all have a few things in common.
1. They Know Their Why
We all have something that drives us. Whether it is family, stability, retirement goals, or otherwise, knowing your Why is critical to your success. It has to be the driving force behind your decisions and the work you put in.
2. They Prioritize Education
You don’t have to have formal education in accounting, but Jeff and Charley are very clear that you have to take advantage of resources available. Whether that is reading or audiobooks, there are countless ways to help you improve your business.
3. They Are Willing to Build Relationships
You are the face of your business. The relationships you build can go a long way to helping you be successful. Planners, office staff at a receiver, or even online communities with other contractors can all help you run your business more efficiently.
The Advantage of Community
At ES Advantage, we pride ourselves on our community. The contractors and fleet owners that make up our network are constantly connecting and helping each other grow.
ES Advantage also gives contractors, owner-operators, and fleet owners access to a community of vendors and the buying power of a much larger fleet. This means they get the advantage of saving like a larger carrier on the biggest costs to them like fuel, shop, tires, insurance, and more so they can add to their bottom line.
Catch the full conversation with Jeff and Charley in the podcast below.
Listen Now: Our ES Advantage Podcast
In this episode of the podcast, you’ll hear part one of our conversation with Jeff Morton and Charley Mahon, the co-founders of Contractor’s Corner. They will discuss some of the pitfalls of running your own trucking business and a few tips to serve as an ace in the hole.