Overdrive's June Trucker of the Month Scott Smith, owner-operator of Sapphire Cartage out of Searcy, Arkansas, has a couple of secret weapons when it comes to bookkeeping, tax accounting and business analysis. The first is his wife, Stephanie, who after time in the health care field and then with Scott rearing four young children, found new work Scott Smith describes in this week's edition of Overdrive Radio. Stephanie's built accounting expertise as support for a small-biz accounting software system, and her expert handling of the Sapphire Cartage back office has taken that load off of the independent.
The second of those secret weapons regular readers encountered in the June 30 feature detailing Smith’s history trucking: https://www.overdriveonline.com/trucker-of-the-year/article/15749527/trucker-of-the-month-bets-on-equipment-diversity-as-failsafe
Namely, it’s a custom spreadsheet the owner-operator built himself to effectively analyze per-ton rates in the hopper-bottom freight business when it comes to load offers. But not only that -- it's his go-to tool for week-to-week business performance as well. As was detailed in the story, Smith uses the spreadsheet to set revenues against not only hard costs like those for fuel but his weekly home needs, his own personal driver salary, if you will. What he needs to contribute to household take-home figures as an expense there, on a weekly basis. What he describes in the podcast brings to mind in some ways Overdrive’s own Load Profit Analyzer tool you can access at any time to game out rate scenarios or compare load offers: https://overdriveonline.com/load-analyzer
With that tool, using your own fixed cost per day, variable cost per mile and that self-pay salary figure per day to then compare as many loads as you like for profit potential, you too can set those driver-pay needs to be calculated on the expense side of the profit analysis.
For June Trucker of the Month Scott Smith, though, it’s his own system that accounts for all of it -- indeed a now not-so-secret weapon we'd wager many owners out there might do well to emulate in whatever form works best for the operation. In the podcast, hear more about Smith's operation and history trucking from the start, back in the early 2010s when like many out there he just happened into a love for the road via work in a different sector than the hopper- and flatbed-hauling work he does today.
Nominate your own or another business to contend, like Smith, for Overdrive's 2025 Trucker of the Year award: https://overdriveonline.com/toptrucker
Read about all of our 2025 Truckers of the Month via https://overdriveonline.com/trucker-of-the-year