Mikhail Sant, a 19-year-old self-made millionaire, built a trucking company from scratch, generating $159,000 in revenue in just three months.
Key Takeaways
Started with one truck, now has five trucks in operation and two on backorder, with a total investment of $200,000 each.
Niche is hauling refrigerated goods, and has found success by identifying the right trucks for the job.
Importance of budgeting for maintenance and having a safety net account with 20% of gross revenue.
Uses a transportation management system (TMS) called Camion, which costs $100 per month and helps with scheduling, calendar work, and other tasks.
Reached profitability within a month and a half to two months, recovering initial investment.
Trucking Business Tips
Keep essential materials like oil and filters on board, and have a network of roadside mechanics for emergency repairs.
Find customers through cold calls, word of mouth, and online advertising on Facebook and Instagram.
Build strong relationships with brokers, and develop a consistent weekly haul with a brokerage.
Reinvest almost 100% of revenue back into the business to expand fleet and hire more drivers.
Insurance and Liability
Found a local agent who helped save money on insurance and liability costs.
Recommend getting drivers with over two years of experience, working with a local agency, and shopping around to compare insurance quotes.
Invest in fuel card programs, such as A to B cards, which offer universal discounts at any gas station.
Business Plan and Goals
Believes a business plan should include financing, a plan of attack, and sustainability.
Goal is to grow fleet to 1,000 refrigeration units and eventually 10,000 trucks.
Term
Definition
Example Usage
Niche
A specific area of expertise or focus within a particular industry or market.
Mikhail Sant’s trucking business specializes in hauling refrigerated goods, which is his niche.
Transportation Management System (TMS)
A software system used to manage and optimize transportation operations, such as scheduling and tracking.
Mikhail Sant uses Camion, a TMS, to help with scheduling, calendar work, and other tasks for his trucking business.
Brokerage
A company that connects shippers with carriers, such as trucking companies, to move goods.
Mikhail Sant builds strong relationships with brokers to find customers and develop a consistent weekly haul.
Fuel Card Program
A program that offers discounts on fuel purchases at participating gas stations.
Mikhail Sant invests in fuel card programs, such as A to B cards, to save money on fuel costs.
Sustainability
The ability of a business or organization to maintain its operations over a long period of time without depleting its resources.
Mikhail Sant believes that sustainability is an important aspect of his business plan and goals for his trucking company.
Reinvest
To put profits or earnings back into a business to finance its growth or expansion.
Mikhail Sant reinvests almost 100% of his revenue back into his trucking business to expand his fleet and hire more drivers.
Liability
A legal responsibility or obligation to pay for damages or injuries caused by one’s actions or negligence.
Mikhail Sant emphasizes the importance of liability insurance and recommends shopping around for quotes to find the best coverage for his trucking business.
Financing
The process of providing or obtaining funds to support a business or project.
Mikhail Sant believes that a business plan should include financing as a key component to ensure the success of his trucking company.
Plan of Attack
A detailed strategy or plan of action for achieving a specific goal or objective.
Mikhail Sant believes that a business plan should include a plan of attack to ensure the success of his trucking company.
https://www.youtube.com/watch?v=-8TnsjDRXUE
Mikhail Sant’s Trucking Business Success Story – Vocabulary Quiz
Test your understanding of key vocabulary from the article!
What does the word “niche” mean in the context of Mikhail Sant’s trucking business?
A small area of expertise
A type of refrigerated goods
A specific market or area of operation
A type of truck
What is a “safety net” in the context of Mikhail Sant’s business?
A type of insurance
A emergency fund
A type of trucking equipment
A business strategy
What does “reinvest” mean in the context of Mikhail Sant’s business strategy?
To spend money on personal expenses
To put money back into the business
To save money in a bank account
To invest in a different business
What is a “brokerage” in the context of Mikhail Sant’s trucking business?
A company that helps find customers
A type of trucking insurance
A type of refrigerated goods
A type of truck maintenance
What does “sustainability” mean in the context of Mikhail Sant’s business plan?
The ability to make a profit
The ability to grow and maintain a business over time
The ability to find new customers
The ability to buy new trucks
Answer Key
3. A specific market or area of operation
2. A emergency fund
2. To put money back into the business
1. A company that helps find customers
2. The ability to grow and maintain a business over time
Using the Present Perfect Continuous to Describe a Process
Explanation
The present perfect continuous is used to describe an action that started in the past and has continued up to the present moment, focusing on the duration of the action. In the context of Mikhail Sant’s trucking business, it can be used to describe the process of building and growing the company. For example, “Mikhail has been building his trucking company from scratch” or “He has been growing his fleet of trucks.”
Quiz
Choose the correct sentence using the present perfect continuous:
1. Mikhail ____________________ his trucking company from scratch for three months.
a) has built
b) has been building
c) builds
d) built
2. By the time Mikhail reached profitability, he ____________________ his initial investment for two months.
a) had recovered
b) has recovered
c) has been recovering
d) recovers
3. Mikhail’s company ____________________ a total of five trucks in operation and two on backorder.
a) has
b) has had
c) has been having
d) has been having
4. Mikhail’s goal is to ____________________ his fleet to 1,000 refrigeration units eventually.
a) grow
b) have grown
c) be growing
d) have been growing
5. Mikhail recommends ____________________ drivers with over two years of experience to reduce insurance costs.
