In business, success is often a result of learning from those who have already paved the way. Much like children watch and imitate the older kids, small businesses can look to established leaders for insight. In the world of trucking, this means taking a closer look at the strategies employed by large, successful long haul truck companies.
These industry giants have spent years refining their operations, mastering efficiency, and leveraging technology to stay ahead of the competition. The good news is, these strategies aren’t just reserved for the big players—they can be adapted by smaller companies and owner-operators, as well.
By studying the methods of these larger companies, smaller operations can uncover valuable tactics that drive growth, reduce costs, and improve service. Let’s take a look into what the “big guys” are doing in the trucking world and how you can implement some of these tried-and-true strategies to set your business up for long-term success.
Efficiency is the Key to Success in Trucking
The big guys in the industry are the big guys because they have found the key to unlock success in the trucking industry: efficient operations. Directly impacting profitability, fuel usage, and even driver satisfaction, efficiency is essential!
Large long haul truck companies hire someone pejoratively known as a “bean counter” to prioritize reducing downtime, fuel costs, and unnecessary miles. They thrive on answering questions like, How can we cut costs? Where can we slim down? Where can we improve? The big guys are also increasingly leveraging technology to streamline operations.
Efficiency is good for everyone, no matter the size of your operation. It’s perhaps even more important for smaller operations. Regardless, once you master efficiency on a small scale, as a matter of practice, built into workflows and workspace, the healthy habits of efficiency follow you as you scale up, perpetuating your success with exponential growth.
Optimize Your Routes
Large long haul truck companies use advanced algorithms to determine the most efficient routes. With large budgets for innovative investments, they can afford top notch sophisticated software, developed specifically for this purpose.
You might not be able to afford to make the same investment, but free or affordable apps are making it easier for anyone to optimize their routes. Truck drivers drive for work. Nearly everyone else drives to work. So there’s a huge demand in the population at large for finding the most efficient route.
Smartphones come equipped with stock map applications, which are great free tools. Another free app for route optimization is Waze. With users making live updates, it tends to alert users to incidents that other apps do not.
Better routing reduces costs and stress. A more optimum route yields less wear and tear on the vehicle, lower fuel costs, and a more pleasant experience for the driver. Efficiency in this area is a step in the direction of playing with the big boys.
Real-Time Tracking
Big companies utilize GPS and telematics to track shipments, monitor delays, and provide updates. Again, with technology so close to our fingertips and readily accessible, some of these industry-specific tools can be replicated with the use of a smartphone. Drivers can enable location access on their phones to allow supervisors and coworkers to see their location in real time.
Fleet Management Software
Large long haul truck companies rely on fleet management systems to track vehicle maintenance, fuel usage, and compliance records. Owner operators may not have large fleets to worry about, but you can benefit from simpler tools to manage maintenance schedules and log compliance.
Proactive management prevents costly breakdowns and DOT fines. Again, efficiency is the name of the game and when an individual or small scale operation maintains equipment efficiently, it prepares them for success with the big boys.
Fuel Efficiency Technologies
Fuel is a big expense for any trucking company. Many large long haul truck companies invest in fuel-saving technologies like aerodynamic truck designs, low-resistance tires, and alternative fuels – all to shave a few dollars off the top.
You can adopt practical, cost-effective strategies such as proper tire inflation, reducing idling, and using fuel card programs. Even small changes can all add up in a good way over time.
Driver-Centric Technologies
For a species striving for efficiency, humans are not that efficient – in fact, we are often the squeaky wheel in any system. Unlike those on our dashboard our indicator lamps are wired to our tolerance for discomfort. Unlike the awesome machinery we drive, we can’t just keep going and going—we need sleep.
Long haul truck companies will invest in driver comfort and safety technologies like automatic braking systems, ergonomic cabins, and fatigue monitoring. Since drivers are humans, these shortcomings should be addressed. But also, since drivers are humans, their comfort and safety should be prioritized. A successful company cares for its assets, whether they are human or machine.
You can prioritize tools like ELDs (electronic logging devices) or apps for meal and rest planning. The goal is here to ensure drivers are happy and safe, creating a more productive environment with less risk.
File Form 2290 Like the Big Guys Do, Too
No matter how large or small your trucking company is, you still have to pay the HVUT. From long haul truck companies to individual owner operators, companies large and small use i2290.com for the simple convenience of e-filing their return from anywhere with internet access, saving time and money.
i2290 brings the additional benefits of easily accessible digitally maintained records for seven years, filing VIN corrections and weight increase amendments for free, and access to a world-class customer service team.
Create an account with i2290 today and answer a few questions about your vehicle and your business. Then for a small fee, we will do the calculations for you and generate your stamped Schedule 1 in a matter of minutes!
Special note: This article is for general purposes, and is not intended to provide, and should not be relied on for tax, legal, investment, or accounting advice. The best way to ensure you’re properly filing and paying appropriate taxes is by following IRS regulations and consulting with a tax professional.