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EXECUTION Starting to work my way out of the slowLane

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CanadianTrucker

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Hello again, I haven’t posted since my introduction. The reason is because I realized, all I was doing was action faking and not moving the needle at all. So I wanted to wait until I knew had taken some real action to moving out of the slow lane before making another post. Hoping I get some feedback as I have much to learn. I’d like to try and do a progress report weekly on what I’m doing to move towards the unscripted life. Okay so I’m a farmer and a truck driver. Been farming my wholeLife. Doing both is busy but farm
Doesn’t quite make enough money yet on its own. The past 8 years that I’ve been a trucking, I just traded my time in the seat for a wage. I haul crude oil and the pay is decent it’s on percentage can work out to between $32-48/hr. I’ve went over the numbers for a long time (3-4 years) for owning my own semi and after coming across MJ DeMarco books and this forum I realized i wasn’t doing anything about it. To get to the point I finally bought a semi in April 2020, spent 20k cash and got a truck and pump to haul oil. Terrible timing as oil completely crashed with price war and Covid
and I didn’t work for first 3 weeks, luckily things have turned around and very busy now. tryIng to help my transition out of slow lane I wanted to change the equation, so I now have a contractor driver that works for me, the shift is 7-5-2 he drives seven days I drive 5 and 2 days to go
Over truck for repairs etc. This is far from Fastlane, I still contract to a bigger company and they take 30% and I get to pull their trailers. But something big for me happened, there’s some money being made that isn’t directly correlated to my time, this is changing everything even though I’m not getting rich at the moment. Most people say the profit is too slim in trucking and I agree it’s a lower margin, but compare it to my stock market investing and here’s how it breaks down.

Invested 20k on truck
Average gross income per month- 25k-38k
Average breakdown of that gross
8% maintenance
10% profit
28% owners pay for driving/ contractor driver pay
8% taxes
46% fuel, insurance, other expenses

Stock market investing currently
10k
Projected average returns over lifetime
7% annually

This put things into perspective for
Me, I can make better return in one month owning a semi than I can in one year In stock market.

So thats a little bit of action that I’ve actually taken.

The next thing I’m pursuing is flipping grain trucks, that market is something I’ve watched closely for more than 15 years because it interested me. Before I never thought about using that knowledge to make money now I see opportunities. Next week I’m going with a friend to look at a grain truck priced at 14k the box doesn’t look great but I have another auto body friend that said he can paint it for 4-5k. If we can get the truck for 12k and paint it it should sell for around 22k which would give about 4-5k profit. If this exact truck falls through I have couple other options of ones to flip. Either way I will start doing this and gain experience. I’ll keep
Putting updates on this thread. Now is a good time because harvest is coming up right away so demand is higher for grain trucks.

I forgot to mention another little slice of action is we raise 130 cows. The margins for selling calves to auction mark is getting slim. With Covid and break in supply chain the demand for beef went crazy when 2 major kill plants had to
Shutdown temporarily due to Covid. They process majority of cattle for Canada. Anyways people were looking elsewhere to get beef other than the grocery store etc. So lots of farmers started using local butchers and selling meat direct to consumers. The margins are way better selling meat Direct rather than selling to kill plant. 2.60/pound kill plant. $5-6 pound direct to consumer minus about $1 cut and wrap cost. So far we have pesold 2 of our animals as beef directly to consumers. ( currently at butcher)
This is not Fastlane but it’s some action and real
Sales. I’m currently trying to think of
How we can sell more of our beef direct to market while providing more value and differentiating ourselves from everyone else doing this. And also how to possibly scale it! (Fastlane). Everybody and their dog is selling beef from their farm on Facebook now due to the demand. So I will have to work a little harder to figure out how to stand out from the crowd.

that’s all the real action that’s in the works. I have very little extra time between trucking and farming which helps me focus on business ventures that are not directly connected to my time input. I’m going to try hard to keep the action-faking out of
This thread as much as I can, feel free to call
me out on it if you see some. Financially not a whole lot has changed, but I feel I’m getting over to a path that can lead to the destination i want to achieve and that’s a pretty awesome feeling in itself. That’s all for now, thanks Jordan
 

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CanadianTrucker

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Whoops, most of the credit for selling beef direct to market goes to my wife, her idea and she got the pre sales. she also is the one that pointed out that everyone is doing it now which concerned her, my idea about trying to differentiate and provide more value to try to stand out.
 

Tossek

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This reads very well. You are on a good way and playing your hand as you got it. Good stuff! I would like to add two points:

1) I would look closely on the truck market in the next years. The tendency is to go autonomous here so that you get rid on the driver's costs. I am seeing some competitors of my company having huge stacks in autonomous trucking and some managers believe that this will help out gross margins. However, it will kill MILLIONS of jobs.

2) It is a bit unrelated but I am reminded a bit of the documentary I saw yesterday about a lady in France that turned her grandparents' farm into an aquaponic plant. Maybe something you can do as well - it seems to have its benefits. Here a more or less related article (A soil-free success: Aquaponic agriculture on the rise)
 

CanadianTrucker

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This reads very well. You are on a good way and playing your hand as you got it. Good stuff! I would like to add two points:

1) I would look closely on the truck market in the next years. The tendency is to go autonomous here so that you get rid on the driver's costs. I am seeing some competitors of my company having huge stacks in autonomous trucking and some managers believe that this will help out gross margins. However, it will kill MILLIONS of jobs.

2) It is a bit unrelated but I am reminded a bit of the documentary I saw yesterday about a lady in France that turned her grandparents' farm into an aquaponic plant. Maybe something you can do as well - it seems to have its benefits. Here a more or less related article (A soil-free success: Aquaponic agriculture on the rise)
Thanks for the input! Up in Canada I think we are little further out from completely autonomous trucking yet, but it’s something to think about as I’m sure it’s coming eventually. I keep my investment in trucking quite low to get my money back quickly. Most of the guys out here spend 60-215k on trucks, 215 being brand new. Versus the 20k I spent. Hopefully that’ll help lower impact when trucking does transition.

I have heard of Aquaponics, we are pretty established in conventional farming, own 640 acres and rent another 400 acres. Plus the 130 cattle. I’ll take a look at your article and learn some make about the concept . Never hurts to look at more angles
 

CanadianTrucker

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Okay so here’s the update for this week. My driver had a spill and I had to fire him, now looking at trying to find work closer to home as the company I work for lost the lanes that are in my province. That’s the boring bullshit.

Now for the better stuff, did a lot of digging on this grain truck idea. The trucks I was looking at sold, then I started digging to find used box to put on a truck and also found it hard to get a hold of one. This led me down an awesome path, I started digging to see if I could source new boxes for grain trucks and good price. Took a lot of research but I found a company that will put brand new box on any truck with the right frame for 9k cheaper than anyone else I could find with 500 miles. This gives us a competitive advantage for our local market. Then I looked at hundreds of auction results to find trucks that brought the most money as a grain truck. Then picked a model that I thought would be in our price range. Next went and looked at trucks at upcoming auction. Long story short today we bought a truck and tomorrow we will have it booked in to get brand new box put on in beginning of October. I’ll try to keep things simple here. Estimated total cost of truck plus box is around 29k. According to a lot of market research this unit should sell between 40-47k. Our time invested will be around 5 days. The plan will be to build the next truck for 40-45k and sell it for approx. 70k. Keep in mind we are outsourcing all the work just need to bring it to the guys that build and put box on. The more research I do into this idea the better it looks. It meets all of the cents requirements. It can definitely scale. Limited only to how many trucks we can find to buy and how many our source can rig up. I would assume at least 15+ per year for us if book in advance. I will keep this updated on what we actually sell this first truck for and how everything went. At this point I see a great amount of potential. Get this first one sold and go from there.

On another note looking for ideas on how to differentiate the direct sale of beef meat from our farm. Any input on any of the above is appreciated.
 

Tossek

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Good luck on this. Don't forget taxes in your calculation! :)
 

Walter Hay

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I have heard of Aquaponics, we are pretty established in conventional farming, own 640 acres and rent another 400 acres. Plus the 130 cattle. I’ll take a look at your article and learn some make about the concept . Never hurts to look at more angles
Maybe Aquaponics for feeding your stock when housed during winter would be profitable in view of the better growth rate that you should achieve.

If you are not too far from a good size population center, barn door sales might be worth considering, provided legal and health requirements are met. I know that people love to actually buy direct from the farm gate.

Walter
P.S. We are spoiled in Australia, not needing to house stock during winter. Anyways I am no longer breeding cattle.
 

Walter Hay

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I just thought of something else that might help. We did a thriving barter trade, supplying young cattle in exchange for various goods and services.

We also sold weaners straight out of the paddock to hobby farmers and even in one case we received an order for 20 head from a buyer who would pick up. He turned up in a rented pantechnicon with a wooden floor! I imagine the truck hire company would not be thrilled, even after it was hosed down.

Most of the weaners were young bulls that we bought in by the truckload and castrated, turning them into much more valuable steers. We sold them after they healed. We did 58 bulls one afternoon, and by the end the two dogs were lying back groaning. They had gorged on sweetbreads all afternoon.

Walter
 

CanadianTrucker

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Thanks for the ideas Walter, definitely going to try some farm gate sales, and look at how we can market our calves better to smaller farms
 

daivey

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Thanks for the ideas Walter, definitely going to try some farm gate sales, and look at how we can market our calves better to smaller farms

this is a great thread.
I've always thought about trucking as a profitable venture.
I know there are concerns about "autonomous" drivers, but that's not going to happen any time soon...
Real autonomous trucking won't happen for a decade at the minimum...
And when it does happen, the autonomous trucking will be in the ports/etc... That is, moving frieght containers a few miles.
The long distance hauling will still be done by truck drivers.
FInally, when things become more mainstream, we will see autonomous trucks for the MAJOR hauls.. Like going from California, to New York... but again, this will be from major warehouse/yard to major warehouse yard.. It won't be in the cities...

But the final mile, will be driver... We have a loooooooooooooooooooong way to go where you can get autonomous driving right to your door, IN ALL weather conditions...

Anyway, with that out of the way, back in the day I had a client that was a trucker. He also bought his own truck. He started transporting fruits/etc... from California/Florida, to Toronto.. apparently it's super lucrative... no idea how hes doing now but he was doing really well before...

how do u take advatnage of produce prices accross Canada and US? Is that something u do?

you're looking at price arbitrage in grain trucks themselves? Is there arbitrage in moving the product yourself?
 

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CanadianTrucker

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this is a great thread.
I've always thought about trucking as a profitable venture.
I know there are concerns about "autonomous" drivers, but that's not going to happen any time soon...
Real autonomous trucking won't happen for a decade at the minimum...
And when it does happen, the autonomous trucking will be in the ports/etc... That is, moving frieght containers a few miles.
The long distance hauling will still be done by truck drivers.
FInally, when things become more mainstream, we will see autonomous trucks for the MAJOR hauls.. Like going from California, to New York... but again, this will be from major warehouse/yard to major warehouse yard.. It won't be in the cities...

But the final mile, will be driver... We have a loooooooooooooooooooong way to go where you can get autonomous driving right to your door, IN ALL weather conditions...

Anyway, with that out of the way, back in the day I had a client that was a trucker. He also bought his own truck. He started transporting fruits/etc... from California/Florida, to Toronto.. apparently it's super lucrative... no idea how hes doing now but he was doing really well before...

how do u take advatnage of produce prices accross Canada and US? Is that something u do?

you're looking at price arbitrage in grain trucks themselves? Is there arbitrage in moving the product yourself?

At this point since i started trucking 8 years ago, I’ve just hauled oilfield fluids. Mostly crude oil. I’m willing to look at other industries though. The thing about trucking is let’s say I had my own trailers and follow the CENTS, in order to Fastlane it would need several trucks and drivers which is a lot of moving parts and people. High volume low margin is name of game in trucking it seems.

Okay, so how I came about this grain truck idea i have to give credit to the for. I caught myself action faking for a while and wanted to change that. I read through a bunch of gold hustling posts about buying/selling. I thought I could do that right away and take action, then thought i know nothing about value of iPhones etc. So got to brainstorming what market do I know.

AHA I know the grain truck market extremely well from watching over the years. It always amazed me. Separately if you take value of the truck without the box and the value of the box you get a much lower number than the final price they sell for. Now I’m putting it to the test and we should know In the next month how this first one plays out.

Was your last question about if there is money in hauling grain? If I interpreted that right, the rates are lower than oilfield but still profitable.

Thanks for the replies. I’m glad this thread is getting noticed. Much appreciated
 

CanadianTrucker

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Here is the update for this week, i got another "job" for my semi hauling crude oil closer to home. I'm still pulling a companies trailers. it starts in middle of October so this will give me time to finish harvest here on the farm. I will drive the truck just me until just before seeding time (March/April) at which point i will be putting another driver in the truck to run it the other 50% that i am not in it.

Today I gathered a load of scrap metal from our farm, 3 cars and a combine. Crushed them with our dozer and then loaded with the tractor. I needed some quick cash and scrap metal prices are good right now and they pay cash. I will be taking the load into the city tomorrow with our truck and trailer. Hopefully i get $1000+ but I'll have to see what it weighs. They pay by the ton. In my next update I'll post what it paid.

Now for the grain truck building, we brought the truck home from the auction yesterday and so far runs really well and everything is looking good. we have to remove the sleeper and fifth wheel plate to prepare the truck to get the grain box put on. I talked with the box manufacturer today and they have started building our grain box and should be done in about 2 weeks. If all goes well we should have a finished grain truck to sell by mid October.

For the direct beef sales, i met with a neighbour this morning and they pre ordered 1/2 beef from us which is about $1600+/-. So that was pretty awesome too. Overall this week was positive. Still room for improvement for sure, but things are moving along. Again credit to my wife as she brought up asking them about buying beef from us.

Thanks for any and all feedback, Jordan
 

AppMan

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May 25, 2019
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Hello again, I haven’t posted since my introduction. The reason is because I realized, all I was doing was action faking and not moving the needle at all. So I wanted to wait until I knew had taken some real action to moving out of the slow lane before making another post. Hoping I get some feedback as I have much to learn. I’d like to try and do a progress report weekly on what I’m doing to move towards the unscripted life. Okay so I’m a farmer and a truck driver. Been farming my wholeLife. Doing both is busy but farm
Doesn’t quite make enough money yet on its own. The past 8 years that I’ve been a trucking, I just traded my time in the seat for a wage. I haul crude oil and the pay is decent it’s on percentage can work out to between $32-48/hr. I’ve went over the numbers for a long time (3-4 years) for owning my own semi and after coming across MJ DeMarco books and this forum I realized i wasn’t doing anything about it. To get to the point I finally bought a semi in April 2020, spent 20k cash and got a truck and pump to haul oil. Terrible timing as oil completely crashed with price war and Covid
and I didn’t work for first 3 weeks, luckily things have turned around and very busy now. tryIng to help my transition out of slow lane I wanted to change the equation, so I now have a contractor driver that works for me, the shift is 7-5-2 he drives seven days I drive 5 and 2 days to go
Over truck for repairs etc. This is far from Fastlane, I still contract to a bigger company and they take 30% and I get to pull their trailers. But something big for me happened, there’s some money being made that isn’t directly correlated to my time, this is changing everything even though I’m not getting rich at the moment. Most people say the profit is too slim in trucking and I agree it’s a lower margin, but compare it to my stock market investing and here’s how it breaks down.

Invested 20k on truck
Average gross income per month- 25k-38k
Average breakdown of that gross
8% maintenance
10% profit
28% owners pay for driving/ contractor driver pay
8% taxes
46% fuel, insurance, other expenses

Stock market investing currently
10k
Projected average returns over lifetime
7% annually

This put things into perspective for
Me, I can make better return in one month owning a semi than I can in one year In stock market.

So thats a little bit of action that I’ve actually taken.

The next thing I’m pursuing is flipping grain trucks, that market is something I’ve watched closely for more than 15 years because it interested me. Before I never thought about using that knowledge to make money now I see opportunities. Next week I’m going with a friend to look at a grain truck priced at 14k the box doesn’t look great but I have another auto body friend that said he can paint it for 4-5k. If we can get the truck for 12k and paint it it should sell for around 22k which would give about 4-5k profit. If this exact truck falls through I have couple other options of ones to flip. Either way I will start doing this and gain experience. I’ll keep
Putting updates on this thread. Now is a good time because harvest is coming up right away so demand is higher for grain trucks.

I forgot to mention another little slice of action is we raise 130 cows. The margins for selling calves to auction mark is getting slim. With Covid and break in supply chain the demand for beef went crazy when 2 major kill plants had to
Shutdown temporarily due to Covid. They process majority of cattle for Canada. Anyways people were looking elsewhere to get beef other than the grocery store etc. So lots of farmers started using local butchers and selling meat direct to consumers. The margins are way better selling meat Direct rather than selling to kill plant. 2.60/pound kill plant. $5-6 pound direct to consumer minus about $1 cut and wrap cost. So far we have pesold 2 of our animals as beef directly to consumers. ( currently at butcher)
This is not Fastlane but it’s some action and real
Sales. I’m currently trying to think of
How we can sell more of our beef direct to market while providing more value and differentiating ourselves from everyone else doing this. And also how to possibly scale it! (Fastlane). Everybody and their dog is selling beef from their farm on Facebook now due to the demand. So I will have to work a little harder to figure out how to stand out from the crowd.

that’s all the real action that’s in the works. I have very little extra time between trucking and farming which helps me focus on business ventures that are not directly connected to my time input. I’m going to try hard to keep the action-faking out of
This thread as much as I can, feel free to call
me out on it if you see some. Financially not a whole lot has changed, but I feel I’m getting over to a path that can lead to the destination i want to achieve and that’s a pretty awesome feeling in itself. That’s all for now, thanks Jordan
So your profit from trucking is 10% ?
I know some truckers ( owner operator ) who claim they make 100K $ a year profit from one truck , is that mean their gross is around 1 million ?
 

CanadianTrucker

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So your profit from trucking is 10% ?
I know some truckers ( owner operator ) who claim they make 100K $ a year profit from one truck , is that mean their gross is around 1 million ?

No I bet they’re gross is no more than 500k+/-

I do my numbers different, I got the structure from the book profit first.

I believe they could be “profit” 100k. But I doubt they calculate it the way I do. My pay for driving the truck is not included in my profit, it’s in owners pay. I’m also already taking out the taxes before calc profit and shooting a bit high I might add. Also my 8% maintenance is supposed to cover future truck replacement/upgrade as well.

The way I did my numbers is what is the margins if the truck is just an investment and I don’t drive it which is the goal one day. I wanted to know what I can safely put away without ever worrying about money for repairs, fuel, taxes etc. I’m also shooting high on my fuel percentage and insurance. I like there to be a buffer for the unknown.

Hope this makes sense, Jordan
 

CanadianTrucker

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Just a quick update, the load of scrap metal paid $540 so not what I was hoping but cash is good.

The box for the grain truck we are building should be built by end of next week sometime.
It is very busy right now on the farm with starting harvest but we want to keep things moving so we will make time to take the truck on 600 mile trip to shop to get box mounted. The company will deliver truck back once finished.

I will keep updates right up until the sale of the truck where I will reveal the numbers and profit.

I still need to make more progress on the beef sales.

That’s all for now
 

CanadianTrucker

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Update- today we delivered the truck to the shop to get built into grain truck. All went well and should have a finished product to sell in two weeks. This is getting very real and exciting now. Jordan
 

CanadianTrucker

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Its been a couple weeks since my last update, been very busy combining for harvest here on the farm. Starting the new job hauling crude oil again starting on Oct 19. I have been getting lots of paperwork ready for that, not super excited about because i'm not in control as i will be pulling another companies trailers with my semi again. The plus is that it's better than just a job and still is business, just more like contracting.


GRAIN TRUCK BUILD UPDATE:
I talked to the shop this last week and they had the cab conversion complete. (converting the semi from sleeper to day cab to accommodate the grain box). They were in the process of painting the grain box. Should be all done next week. Looking forward to getting the truck back and put up for sale after a few finishing touches. If this works out the wealth building opportunity is massive. That's all for now, Thanks Jordan
 

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