I’m at Moscow by the way, this is just absolutely stunning in Laguna and it’s just absolutely beautiful. But there were two heavy hitters, Matt Perry, the Senior Vice President from Warner Enterprises, and Sam Anderson, CEO of Bay and Bay Transportation. Now what these guys said is so true and it deals with each and every one of us. Now Matt said it’s going to be a bumpy ride for the next 12 to 18 months. Now Sam says the market isn’t likely to improve much now that costs have risen more than 5% in each of the last five years, 5% in each of the last five years.

Okay, now here is the thing, if you are a person that is dealing with your finances, your bills, or maybe even have your own business, you have seen the cost of everything go through the flip and run and you’ve seen it affect each and every one of us. Well here’s the thing, if you can deal with that, if you can accept that, you can deal with this. The bumpy ride they talk about, hey listen, you may have a hot month. You know Dan, I did better in August than I’ve ever done.

I made more money in August than I ever did. What are you talking about? And then September, October, November are absolutely dead. That’s what people need to deal with. If you accept the fact that there’s going to be economic challenges with your own personal finances and with the economy, you can weather the storm. It’s that simple. Now we’ve talked about words like freight recession and shipping. It’s done guys. This is the guideline that nobody wants to look at. You want to be told that you know industries are doing good and don’t worry it’s all hot right now and interest rates getting hotter gonna change everything.

This is insane. See a little perch up there with all the migrating birds? It’s funny, that’s one of the small perches. You can see all the birds up there. I’ll try to get a better shot of that for you. But right now they talked about how people don’t realize how inflation has crept up in all of our lives. It’s crept up in all your businesses. Now here’s the thing and this is such solid advice for everybody and the first things first is you know people are paying too much for things. People are keeping bad employees around.

People are sticking with contracts and people that are not making them money. Now here’s the thing, let’s say you’re an independent person. You’re a consultant. You have certain clients that make money and certain clients that don’t. You need to ditch the ones that are not making the most amount of money right now and get rid of it. He was talking about big trucking companies and small trucking companies that are one to nine units. You’ve got to read the article. It’d be the first article below but it’s so good because it’s for everybody in business and it also includes I don’t care if you’re retired.

I don’t care if you’re living on a fixed income. Inflation has destroyed all of our lives over the last five years and the problem with it is that you know Mr. Anderson gave an example of how you’re supposed to raise your prices because of this five percent increase and if you haven’t raised your prices substantially over the last few years you’re basically on a 10,000 mile load you’re losing you know thousands and thousands of dollars on each load and the problem with this is that what are you doing for work right now are you making money right now are you saving money you know so here’s the thing shippers are tight in budgets people are spending less people are spending less at your job I have friends and people that have contracts where they’re saying listen can you do this 80% of what you did it for you know can we get a hundred percent of the work for 80% can you work for less some of us will say oh yeah oh yeah god I got to make that house payment I’ll work for less and then some of us are gonna say no no my time is worth too much to work for free for you so you want me to give you a hundred percent give me notes make changes and you don’t want to pay no weather the storm guys weather the storm because what’s gonna happen is you’re gonna have good people that are gonna leave right now man oh man I’m telling you this place is fantastic again the moss there is like a green grass that grows in these rocks when the tide goes out it is absolutely stunning so interest rates and financing costs are still high it’s affecting each and every one of us it’s affecting everybody in the trucking industry used equipment values are dropping think about this the price of used vehicles are going down people are keeping vehicles but to maintain them you know parts through the roof right now maintenance for mechanics through the roof oil everything well you know what we’ll do is we just won’t maintain the vehicle you have to maintain your life you’ve got to maintain your health you’ve got to go to the doctor you’ve got to spend money to make sure that the engine is working good whether you have a trucking company or it’s you by yourself I am telling you this right now this was the greatest thing I’ve read in six months and I really mean that so you know Perry out of these optimistic about the holiday season 2025 is that really gonna make a good a big difference hey we’re gonna looks like we may have a good Halloween season to kick it off and then we’re gonna see what you know what the rest of year is gonna look like now think about this if your average cost per mile was a dollar 65 and 2021 and you didn’t adjust that 5% year over year meaning going up in price same thing with your wages same thing with your earnings same thing with what you charge your customers you are basically losing twenty six hundred dollars for every ten thousand mile load you’re you’re shipping now we all do this I have a friend that opened up a business in the last year and then I get a thousand dollars a day for my services and I sat him down and did the math on my said you know what I got to be honest with you your time the expense everything that you’re doing for free the travel loading everything I think you need to be at three grand a day to do what you’re doing oh wow you know I don’t know if everybody’ll pay that they probably won’t the point is is that you’re losing money right now at a which sounds insane but that’s the truth so you have to look at your own life on what you’re paying for and what you don’t need in your personal life I mean this guy’s get rid of things you don’t need in your life get rid of the payments you don’t need get rid of everything out of your life that’s a headache you and your spouse or your significant other or yourself have got to live you know in a frugal mindset right now you have to understand this so isn’t that just stunning man it’s absolutely beautiful now when the tide goes out in the summertime you know on an early morning you’re not going to have you know the bikini babes out here but this place is just absolutely beautiful and eventually every day there’s no lifeguard this time of the year eventually this all fills up and there’s no beach because tide comes in and it comes in every day but it’s just a really really cool spot the water is like Hawaii it is just stunning so you know are you running trucks do you have customers do you have clients that are not working you have people that work for you that are not pulling their weight but Charlie’s such a good guy and I got to keep Charlie around and you know pay him he’s got a wife and kids everybody sells everybody has to do their part to make sure you’re profitable or you’re not profitable so the freight recession these heavyweights we’re talking about this if you know that the economy is going to be treacherous for the next year and a half you can be ready for this you can survive this you can make money on this but don’t spend money on things you don’t need right now oh my wife and I go shopping you know we go to TJ Maxx every you know pick up a couple shirts and you know trinkets for the house don’t do it guys save that money eat at home don’t go out save money right now plan on things getting weaker in the economy plan on your clients finding your job cutting back upon bonuses not being there at the end of the year you know people don’t get it people are not planning for this stuff right now you have to you know you know you know one thing that they were talking about is don’t wait to dump problem equipment you got that car that’s a pain in the ass you got the bicycles you don’t need your golf clubs you don’t need get rid of this stuff right dump it right why people have while people still have a little bit of money you know oh my gosh you know they were talking about how you maintain a vehicle but you’re going to maintain your health they were talking about brake inspections and tire rotations and rotors and and DOT readiness all this stuff I am telling this right now insurance has gone through the roof for these people they cannot afford it these small haul trucking companies are not making any money right now and they need to plan on survival right now you need to plan on survival right now if you can work in the finances right now you will get through this okay have everybody have a performance goal you need to have a performance goal I had dinner with an attorney and she’s a one-woman show you know she runs the place by herself and by the time dessert rolled around I had her convinced in how she should do things completely differently and pay her assistant more money to do certain things that would save her she’ll spend money but it’ll make her money and as the lawyer there’s things you know I’m not a lawyer I can’t be give you legal advice but she can do this she needs to maximize her time to get clients to deal with things and not ordering things from the court and having an assistant that can do that that’s pretty smart that needs the money so that’s going to make her more money down the road you need to look at your life like this what can you do with your job expect them to cut your hours expect them to not pay bonuses expect there not to be you know the benefits that you had a year from you know two years ago we’re just not going to be there you know again it was all the questions that people were asking you know should I add another truck no not right now you shouldn’t should worry about maintaining you know everything and again this is the final word on this and that you need to run lean in your personal life just like these freight companies are running which is solid advice guys it’s solid advice you know know your numbers know what it costs you know one thing I’m very proud of is my son knows his budget my son knows his neck every month and what it costs him to live and to to survive on a monthly basis you know how many people sit down with me and talk to me and I hey what’s it cost you to deliver the money about 8500 to 10,000 they don’t know they don’t know add it up guys know exactly what it costs you know what that fuel costs in the car know what your insurance costs are how about this the average insurance is almost doubled in the last two years because of those dinner fees with those insurance companies that are completely ripping us off so make sure you’re maximizing that okay you know you have to treat every truck like a profit center and again this is such great advice everything that you do has to make you money my friend that started that business is doing all this free work for people I’m doing free work so they can they can see what I’m capable of do it once guy do it once don’t do it week after week after week because you like these people and they’re nice people you know what they’re gonna want hey can you do this do this oh what about that oh we don’t have a budget and I’m gonna leave you with this big truck sales are out of four-year low okay 15% right now this is the sign of a recession now you can sit there and say people cannot afford big trucks yes you’re right about that but you know what they also can’t afford the maintenance they can’t afford the insurance they can’t afford to go out and get new equipment I have met people in business that like hey every two years we go out and get new tools for the guys don’t do that right now work with what you have and don’t spend the money 18 months it’s gonna be bumpy you can survive this if you do this you will survive okay I’m telling you read that article it’s the first one below it’s fantastic but relate it to your personal finances and if you do that you’re gonna be totally ahead of the second this is making sense I need to watch everything right now and if you do that you’re gonna be fine financially so please like this video share this video because this is important share that article too because I absolutely love it I’d love to talk to these two guys and big announcement coming out very soon I cannot wait to share with everybody but again make good choices I’ll see you guys very soon onward and upward but again a bumpy ride for the next 15 to 18 months get ready
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