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Overdrive Magazine has an article that came from their survey of owner operators, trying to find out what the successful owner ops have in common. Their definition of a successful owner -

Creatures of Habit
by Todd Dills
…and especially those whose net income ranks in
the top 25 percent — reveals highlights on the road to success. The
typical high-earning owner-operator is a little more than 50 years old
and has been in business as an owner-operator since he was 30. He makes
more than $70,000 a year after expenses and is three times as likely to
be leased as independent.

The top 25% have these seven practices in common -

Work for percentage of gross

I was always hesitant about working for a percentage, because you’re never sure about where the carrier is drawing their 100% mark and what they tell you is the gross number. I get a copy of the same confirmation from the broker that is sent to my carrier. Plus, I’m able to talk about price at any time with anyone. If a broker tells you he can’t say how much he’s paying, something’s wrong.

Buy your own trailer

Check.

Invest in an APU - According to the Behavior Report, a third of owner-operators have APUs and average $7,000 more in income than those who don’t.

Check. With all the APU’s on the market now, there’s no excuse to idle away your fuel money. Even buying a used truck, you can get an APU put on and included with the financing for the rest of the truck.

Maintain a sizable savings fund

This one we’re still working on.

Do regular oil analysis

Check

Buy new equipment

Check. On both of my used trucks, between the payment and extra maintenance and breaking down, I was paying the equivalent of a new truck payment. Now with a new truck we don’t have the downtime and major work is probably under warranty.

Keep detailed records -This is perhaps the key characteristic of high
earners, Brady says. Making money comes from an awareness of every
piece of the puzzle, from whether a shipper’s paid the fuel surcharge
you asked for, to the fuel economy you’re getting after that in-frame
overhaul, to what the level of metals in your oil means.

I made my own really big spreadsheet, I know what I make and spend per mile and per day for most everything related to the truck.

I would add one more -

Surround yourself with the best. Probably the most important thing I like about this company is that everything is out in the open.  I think because of that and the attitude and vision of the owner, this company has attracted some of the best people that bring their customers with them and are able to get more great customers. They get the customers and we keep the customers with premium hands-on white-glove dependable service.

February was really bad for everyone, we did about the same as other drivers in our company and now I find out we did better than most in our part of the industry (pad wrap).  March was a little below average, but not bad. With new customers and accounts that are coming in, the rest of the year looks pretty good.