It’s an exciting time to be part of the trucking industry–hauling over 80% of the country’s total cargo, and projected to continue its strong performance in the years to come.
As a new business owner, it’s natural to prioritize sales, loads, and getting your business noticed.
But neglecting to set up the financial side of your business is effectively setting yourself up for failure.
Not knowing if you’re running out of cash, or if your price covers all your costs, means that you don’t know whether you’re making money or not.
And a business that doesn’t keep tabs on how much money they’re making (or losing) won’t be able to survive that long.
In fact, 85% of new trucking companies fail to reach their second year, partly due to problems with managing costs.
If you don’t want your business to end up the same way, it’s essential that you’re able to get your finances in order.
However, with all the information, paperwork, and rules involved in running a transport business, it’s easy to lose track of what you need to monitor.
With a well-planned, organized, and clutter proof system, you’ll have your finances running like a well-oiled machine so you can focus on building your business.
In CDL Minded Accounting, you will discover:
- An easy-to-implement system that will keep your business running smoothly, even when things get hectic
- How to simplify and organize your recordkeeping and ensure nothing ever gets lost again
- Accounting basics every business owner should know and understand before they get started
- How to avoid running out of cash, especially when you need it most
- 12 clever tips to save on one of the biggest expenses in the trucking/transportation business
- Legal ways to reduce your taxes, including one that you should be doing anyway
- Top accounting and bookkeeping mistakes that new business owners make, and how to avoid them
- What every new business should always have prepared to lessen your financial stressAnd much more.Even if you have an accountant, it is still ultimately up to you as the business owner to make the financial decisions for your company.By understanding the numbers that are relevant to your operations, you can make better choices that will ensure your business’ survival and prosperity.Take your finances seriously and give your business a better chance of succeeding.
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