The Ten Commandments of an Owner Operator in a troubled Economy

1. Never, Never, Never, Never, Never run out of cash. Do everything you can to build and keep four to six months worth of cash in a safe and liquid place. The new "tax free savings account" is a great place for some of it.

2. Get out of debt! Pay off as much as you possibly can, as fast as you possibly can without violating the first commandment. Simplify your life! If that means selling things... then sell! Nobody can eat a bass boat or a Harley!

3. The value of a truck is based on its fuel economy not its age or comfort. Your primary asset is you golden goose. It's what makes you money. Without violating the first two commandments make sure your truck holds and keeps its VALUE! If it gets terrible cash flow because of fuel consumption change your driving habits. If that dosn't help trade down (or maybe up), to a more fuel economy based assest, but remember you'll take a bath on the trade in.

4. Reducing speed and acceleration is critical to reducing both fuel and maintenance costs. Consume less and invest as little as possible. In a troubled economy there are loads of get rich quick schemes that entice people to SPEND rather than save. Be the smart one! Become more efficient rather than trying to break into a NEW market!

5. If you DON'T trust the company you work for, its probably too late to find a quality company that is hiring. Therefore make the best of what you got!

6. The key is compliance, don't speed, don't neglect your log book, follow the rules and don't cut corners. When money is scarce fines and penalties are often used to subsidise municipal/country/state/provincial budgets. They're out there gunning for you, stay off the radar!

7. If your not mechanically inclined TRUST your mechanic. The best way to embrace your mechanic is to PAY him! PAY your mechanic... PAY your mechanic! If you can't trust them find someone you can trust. If you don't trust anyone and your not mechanically inclined, get out of the business!

8. Work harder, sacrifice more, go the extra mile, serve your customers, create your own value, build your own life margin! and of course STOP COMPLAINING!

9. Build a network of support. Friends who encourage each other through tough times are priceless. Everyone needs support and encouragement. If you don't have one, start your network today! and I'm not referring to a multilevel marketing scheme... dah!

10. Invest your time in eduction. GROW, GROW, GROW! Think! Plan! Learn more about your craft than you've ever known before. It should cost virtually nothing to learn the most valuable things. Ask questions, knock on doors introduce yourself to new people and learn how to keep yourself afloat.