Blog Series - 10 Tips Every Independent Trucker Should Know - Tip 9

TIP 9   
 
START AND FUND A REPAIR AND MAINTENANCE ACCOUNT TODAY! 
Create a repair and maintenance account. 
 
Now that you have separate bank accounts for business and personal expenses, let’s go one step further and set up a separate account to handle repair and maintenance. 
 
As we have discussed, stuff will happen…and it always happens when you least expect it. You will want a few bucks set aside so when breakdowns occur, you will be ready and you can get the truck fixed quickly.  Once fixed, you can again...GENERATE REVENUE! 
 
We recommend putting aside $500 a month min. and build it up from there.  Do not touch this account unless it is for scheduled maintenance, repairs, or breakdowns.  Do not treat it as a vacation account or secret stash.  It is to be used to keep your equipment in top working order and to get your equipment back on the road quickly.  Also, think about signing up with a reputable roadside assistance provider. 
Why is this so important? 
1. So that you can keep the truck working and the revenue coming in!
2. You will sleep better at night knowing that you have this account in place and funded.  


Matt Manero combines his business brilliance with more than 20 years of hands-on experience in transportation equipment finance. Today, he is a CEO leading four companies that generate over $100,000,000 per year in business with a base of more than 10,000 clients.

Matt launched his first business, Commercial Fleet Financing, Inc., in 1995 with a phone, a folding table and the  unyielding confidence of a single client, a trucker. Fast forward 20 years: Commercial Fleet Financing, Inc. made Inc. magazine’s Top 500/5000 list of fastest growing companies in America in 2014. Matt is the creator and personality behind CFFnation.com, the first and only online video network featuring original programming for and by innovators, operators, movers and shakers of the transportation industry.

His companies have been recognized in trade publications such as OverdriveTransport TopicsCommercial Carrier Journal, and Dealer Solutions MagazineMatt hosts his own weekly Radio Show aptly named, “The Grit” which airs on lifestyletalkradio.com and also on CFFnation.com. In addition to “The Grit,” Matt has authored a series of quick read books entitled “Tower, Mover and Construction Co. Need to Know NOW”, and also a forthcoming book, “I NEED MORE MONEY,” which reflects his battle to build his business and guides readers in creating their own future and financial success.

Reach Matt at his offices in Dallas, TX via email at mmanero@cffnationwide.com and on twitter @mattmanero. Learn more at cffnationwide.com and cffnatiion.com