Six mistakes to avoid in becoming an owner-operator

Thinking about buying a truck and becoming an owner-operator? Owner-operator consultant Kevin Rutherford, speaking in Omaha, Neb., at the five-day Certified Master Contractor Live conference he produces, listed six common mistakes.

1. Listening to family and friends. “It’s really dangerous asking for advice because there’s no way of knowing whether the advice is good or not,” he said. Those close to you will tend to support you if you’re excited, while those who tend to be negative will frown on any risky idea. Asking dozens of people the same questions at least gets you closer to the truth.
2. Kevin Rutherford

   Not having a clear written plan. Most aspiring and existing owner-operators are reluctant to take the time to write out a business plan, even though those who do find that it always pays off.