Podcast: Tips on Operational Savings with Jessica Dotson of Multi Service Fuel Card

Running a trucking business is no easy task, especially if you’re just starting out or looking to improve how you operate and make sure your bank account is in the black. And there isn’t a one-size-fits-all solution.  

In this episode of Freight Nation, host Brent Hutto talks with Jessica Dotson, Director of Business Development and Account Management at Multi Service Fuel Card. Dotson, who went from being a truck driver’s wife to a key player in the industry, shares practical advice on operational savings to help both new and experienced trucking businesses succeed.

Save money before you start

Jessica has the unique perspective of experiencing a variety of aspects of the trucking industry. Having helped her husband get his business started, she’s lived through the challenges and growing pains of creating a successful operation. 

“Do not go out on your own until you have saved enough money to maintain that business for at least a year.” 

One thing Jessica emphasizes is the importance of having enough savings before starting your own trucking company. She suggests having at least a year to a year and a half of savings set aside. This money is crucial for covering unexpected expenses, like truck repairs or health issues, which can quickly put you out of business if you’re not prepared. And while having extra in the bank may seem like a tall order, especially if you’re equipment is fresh off the lot, one unexpected set back could cost you thousands of dollars. 

Know your costs

Jessica also highlights the importance of knowing your costs. Many drivers focus on how much money they’re making without fully understanding what it costs them to run their trucks. Jessica and her husband keep track of every expense, from fuel to maintenance, so they know their costs to run their business. This helps them make better decisions and ensures they’re actually making a profit. 

She stresses that since major mechanical failures and health crises are the two main factors that can put truckers out of business, cash flow is crucial, and having enough savings can prevent financial hardships.  

Jessica goes on to discuss her own approach to managing operational expenses. She explains how her husband, a truck driver, uses various strategies to maximize efficiency:  

“So he’s making sure that his tires have good wear. He’s making sure that he’s running his truck at a decent speed. I mean, he strategically leaves every morning about two or three o’clock in the morning to get ahead of traffic, so there’s no stops and starts—that’s also hard on your truck. He also sets it on cruise control because he knows exactly where he needs to set that parameter to make sure he’s running fuel efficient.” 

Health and safety matter

She goes on to explain that the one thing that wasn’t in their business plan was focusing on staying healthy along the way. Driving long hours combined with poor food choices can have serious health consequences that can keep you off the road.  

Her husband faced serious health issues, like blood clots and diabetes, due to the demands of trucking. Regular health checks and taking breaks to move around are essential, not just for passing your physicals, but for staying healthy and keeping your business running. 

Jessica’s experiences offer valuable lessons for anyone in the trucking business. Her story shows that with careful planning, smart money management, and a focus on health and relationships, you can overcome the challenges of running a trucking business.

To learn more tips from Jessica, tune into this episode of Freight Nation: A Trucking Podcast on Apple, Spotify, or your favorite podcast platform.