Goal Oriented Expediting

**ATeam** · 03-02-2007, 10:29 PM

Goal Oriented Expediting
(Word count: 1,079, two printed pages)

Having reviewed the numbers of our three-plus years in expediting, it is as clear to me as the sun in the sky that a one-truck (straight or semi), husband/wife expediting team with a good work ethic, clean record and ordinary ability, can, in 20 years or less, build a net worth of one million dollars; by setting that as their goal, acquiring the necessary skills, making certain lifestyle commitments, adopting certain business practices and using their expediting earnings to achieve it.

Some will dismiss this view as pie in the sky or seeing things through rose colored glasses. While such figures of speech are easy to use, the numbers make the stronger case. When I look at the numbers, it does not surprise me that a goal-oriented team can earn their way to a million-dollars. It does surprise me that so few teams set out to do it.

Perhaps it is not that millionaire-oriented expediter teams are wearing rose colored glasses. Perhaps it is that others are wearing blinders that keep the million-dollar possibility from seeming real or the required effort from seeming worth it.

Indeed, in the EO Open Forum, the mention of above-average financial results in expediting moves certain people to respond with mockery, disdain, personal attacks and/or jealous rage. Others are quick to warn that a million-dollar net worth is unwise to hope for, and they are quite convinced it cannot be done.

I say it can. While it is true that some teams cannot do it, it is not true that all teams cannot. In other words, some teams can. I also say a happy and optimistic outlook is more profitable and fun to maintain than a grumpy and pessimistic one. Given a choice between rose colored glasses and blinders, I'll chose the rose colored glasses every time.

That would lead some to suggest that the realistic view -- the objective and clear view that lies between rose colored and blind -- is best. I agree. And that leads me straight back to my experienced-based, numbers-based, million-dollar conclusion.

Most team expediters have not paused to seriously consider a million-dollar goal. I believe that is due more to a lack of vision than a lack of opportunity. Before you can work your way to a million dollars, you have to see your way to a million dollars. If more expediting teams saw it was possible, and saw how, more would set out to do it.

It is like discovering a new route that you wish you had known before. For years you take the same road through an area. Then something happens that forces you to reconsider your present ways. It might be a construction detour or a wrong turn. It might be a pickup or delivery at a new location in the area. Something leads you to discover a route that was there all the time but you did not previously see. The new way helps you avoid tolls, congestion and saves miles. Now that you know about it, you use it all the time and wonder why you did not see it before.

As it is with trip planning, so too it may be with expediting goals. It is not that a better route was not there. It is that you did not see it. It is not that you were prohibited from or incapable of taking the better way. It is that you were not looking for a better way. You were not looking for a better way because you already believed you knew the best way.

That is not to say that all expediting teams should have a million-dollar goal. I am not saying that at all. For expediters that have non-monetary goals, have big home-time or free-time goals, or believe that becoming a millionaire will somehow degrade one's quality of life or moral standing on this earth, theirs is the better way for them.

Diane and I have a million-dollar goal. For us, the worst case is not that a negative event would prematurely end our expediting career. The worst case would be to complete an expediting career and have little to show for it. Our goal is not about money as an end in itself. It is about focusing our efforts today for financial freedom tomorrow.

It is an ambitious goal but one we believe we can achieve. Our belief is based not on blind faith or false hopes. It is based on four years of ongoing industry research, an informed approach to savings and investment, and three-plus years of real-world expediting results on which to gauge our performance and base our expectations.

This is not a pipe dream for us. It is a realistic, specific and achievable goal. We know exactly what it takes to achieve this goal and exactly how to do it. As you read this, we are, right now, in the expediting revenue stream with our eyes on the prize.

Knowing full well that bad months and even bad years may come, we are nevertheless acting, reacting and doing what it takes to reach our goal. When the bad times do come, we will continue to act, react and do what it takes to reach our goal.

While some teams do not have what it takes to build a million-dollar net worth, others do. The goal is specific and easily understood. While certain facts must be accepted and skills possessed to achieve the goal, there is nothing hidden or mysterious about it. If the desire and work ethic are present, the facts and skills can be learned.

The effort required to become a millionaire expediting team is no greater than the effort required to work hard and have little to show for it at career end. It's not just about staying out and getting good loads. It's about being always mindful of your goal and making the moment-by-moment choices that help you achieve it.

In the EO Open Forum, there is an ongoing flow of failure stories and somber warnings against making mistakes and operating on hope alone. While such posts have value, they do not move people forward. They only tell people what to avoid.

How about some talk of success? Whether your goal is money-specific or something else, I invite goal-oriented expediters to share what works for them.

(1) What are your expediting goals?

(2) As you strive to achieve your expediting goals, what works?

**greg334** · 03-02-2007, 10:29 PM

(1) What are your expediting goals?

My expediting goal is to pay the bills and make this a temporary stop gap measure until I get back on track with a career or going forward with my non-profit - all undecided at this point

(2) As you strive to achieve your expediting goals, what works?

Being customer centric, being patient and understanding that many will enter this work and fail because they lack the previous two. On the business end, having a plan, mine is wallowing in change but there is a plan.

By the way, you could have made the opening of the thread a little more concise but it does make a good point - we can not all be millionaires.

**davekc** · 03-03-2007, 12:00 AM

(probably less than 150 words) one paragraph

Not sure who the Ateam is trying to convince of millions?
Anyone can make a million in 20 years. Including working at Wal-mart or Amway. It depends on alot of factors that are unknown. Who knows what or where anything will be 20 years from now?
Going back 20 years, I am not aware of anyone netting a million based solely on expedite earnings from a single truck and nothing else. Some might have gotten close, but it took the value of other investments to get it there.
Could always be a rare exception.
Keep in mind back then there was virtually no competition, rates were double what they are today, fuel was under a back, and new equipment was about half of todays numbers.
The only ones I am aware of that had a net worth of a million or more, had multiple units.

Davekc
owner
22 years
PantherII
EO moderator

**mrgoodtude** · 03-03-2007, 12:07 AM

I agree with Phil...
Sorry guy's but he is right and Me gots the lottery ticket to possibly prove it.
I have my truck paid off! yessir 200k before the drive tires had to be replaced.
Wait a minute I don't own a truck.
Sorry I posted
Mike

**greg334** · 03-03-2007, 12:44 AM

Come on guys...... let's look at the questions and not the essay. I think for a newbie, some answers would be helpful.

Like I said, he could have been more concise in the lead but that's Phil and it is alright (oh boy am I going to catch h*ll for that one).

I can truthfully say I will never make a million dollars and it don't matter if I could - I would not be saying a word on a forum about it. Some people have lofty (and realistic to them) goals while others (me) are just trying to get by while I scheme up bigger things to come.

**davekc** · 03-03-2007, 12:49 AM

Come on guys...... let's look at the questions and not the essay. I think for a newbie, some answers would be helpful
===========================================
You are correct. I just read the first paragraph.

Davekc
owner
22 years
PantherII
EO moderator

**Bruno** · 03-03-2007, 06:25 AM

Well, with the right truck I would have to say yes a husband and wife team can save a million in 20 years in this business. That's only $50,000.00 per year. I would say they could do it IF they gross over $200,000.00 each year. 50% of the gross to the truck and 50% to the husband and wife team. That would mean the husband and wife team would have to live off of $50,000.00 and save $50,000.00 a year.

Drive safe
Dave Mayfield
FedEx Custom Critical
13 years as an O/O in Expediting.

**Paul56** · 03-03-2007, 08:56 AM

(1) What are your expediting goals?
(2) As you strive to achieve your expediting goals, what works?

I'd replace "expediting" with "business" with the above questions, but that is just me.

At the risk of sounding boastful, as an organization we achieved that million dollar mark sometime ago.

How? Diversification, hard work, customer satisfaction to mention a few.

If for some reason neither Nicole or myself wanted to or could drive anymore things would keep rolling along due to diversification. The human beings are the weak link in a single truck operation where that is the only source of income.

We also didn't forget about a little something called life along the way and to take time to enjoy it.

**Broompilot** · 03-03-2007, 02:58 PM

Paul EXCELLENT comment "life along the way." I believe A team is enjoying themselves or would not be posting so many positive comments.

All though A teams essay got me thinking about "What are my goals" Now that things have changed and are changing. But the "life along the way" has been distrubing me little latley. Having a bit of bad luck personally lately aint exactly making for a positive mark on myself right now. Been thru storms before and really this is minor but it is here right now.

I have much, very much to be greatfull for. Life along the way seems to have been pushed aside since entering into this busiiness. As for making my new set of goals that I need to work on here in the next few weeks.

One thing I have noticed in life along the way is one accomplishes a large goal thinking your ducks are in order something comes along to bring you back down to reality. I worked and worked my but off to pay this Truck off in 26 months and made that a reality a few weeks ago.

Been working on some personal projects I got myself into that I wished I did not. Once I get this behind me I need to start on that Attitude and goal setting with the vision of LIFE, and life with the ones I care the most about. So Paul thanks for your words.

**LDB** · 03-03-2007, 03:21 PM

I believe the right motivated couple could achieve this goal however I believe it to be very difficult and unreachable for most. The goal would be more easily and quickly reached if the team were to bank at compound interest the $250-350 monthly they could save by fuel tax management. Terry seems to have the magic calculator and perhaps can tell us what a monthly deposit of $300 compounded would total over a 20 year span.

Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.

**Jefferson3000** · 03-03-2007, 03:50 PM

Well, there is a big difference in making (grossing) a million dollars vs. netting or even saving a million.

I can't think of anyone I've met in any field whose net worth is over a million, who got it while working for someone else, whether employed or by exclusive contract. The millions come by surpassing the job of the individual into a larger base, whether it be starting a chain of retail stores, running a trucking company with a fleetof trucks, or investing the savings into other markets. That's how millionaires are made.

Driver for 15 years
O/O for 13 years
OOIDA #829119

Drive Safe!

Jeff

**davekc** · 03-03-2007, 04:09 PM

On 20 years assuming a 8 percent return, one would have to save somewhere around 1600 every month. That is a estimate and not a exact number through the calculator.
That isn't accounting for inflation, taxes, and certain types of investments. Just based on a straight 8 percent return.
It would be doable in expediting, but few would consider it because of the enormous sacrifices that would be needed.
20 years is a long time.
Of course I am talking just about a single truck operation.
10 percent may be possible on a return, and it can be adjusted accordingly.

Davekc
owner
22 years
PantherII
EO moderator

**jaminjim** · 03-03-2007, 04:25 PM

I know of a bunch of people who have reached the million dollar mark, and thats not counting DaveKC;) But really it does not take a brain surgeon to see that if you start EARLY and CONTINUE to put money aside it can be done. It is more likley to be accomplished if you run it for about thirty years.

Several people that I know have hit that number, some of who work for themselfs, and some who work for others. But all started saving early and stayed with it.

I even have an uncle who is worth millions, he ownes a moving company. His words of wisdom to me when I talked about getting into trucking???? DON"T DO IT. No life and not enough money as a trucker.

**Jefferson3000** · 03-03-2007, 04:29 PM

BTW, did we not already run this exact same thread to death less than two months ago?

Driver for 15 years
O/O for 13 years
OOIDA #829119

Drive Safe!

Jeff

**davekc** · 03-03-2007, 04:40 PM

Yep...we have done pretty well. But to be fair, it wasn't from the earnings of just one truck. It has been from a variety of sources including a previous career that I retired early from.
That being said, expediting has been very good for us.
Your right, this thread was repeated once. Apparently the author didn't like the responses from the first one.

Davekc
owner
22 years
PantherII
EO moderator