An Omicron Lockdown and the Trucking Industry + Top Paying Loads in Trucking

What would an Omicron Lockdown do to the trucking industry? It would very likely create similar market conditions that we saw in March, April, May, and part of June 2020. Let's not forget that a lot of trucking companies went out of business during that time and an Omicron lockdown may present a repeat performance in the spot freight markets leading to more bankruptcies throughout the American trucking industry.

On this channel, we're all about learning from our mistakes and becoming better and better every day. We're here to help trucking from all walks of life become more effective and efficient business people. We want all truckers to succeed. A big part of succeeding in business has to do with having the ability to look at the past and learn from it.

2020 brought many challenges to the trucking industry and an Omicron lockdown might do the same thing. Those who were able to pivot and work through the challenging times are the same people and the same companies who have benefitted from the high freight rates we've seen over the past 18 months and longer.

Last year we saw stores run out of stock, warehouses and distribution centers run low on freight, tonnage went down, and with it came down the rates. A lot of truck drivers didn't know what to do and many called it quits and threw in the towel. Those who stayed in the game and kept on trucking, ultimately succeeded. 2020 was definitely shakeout year for the trucking industry and pushed many over the brink of collapse.

We urged all of our carriers and leased on owner operators to please keep going and to take the freight our dispatchers were working hard to provide. The rates were low but they kept our carrier customers and leased on owner operators in business.

Some crucial lessons from that year were to always keep a cash reserve for a rainy day. You want to make sure you have enough funds available to cover your operating expenses. This includes your fixed costs as well as variable expenses. You want to make sure your equipment is in good shape and well-maintained. This is even more important today with all the shortages we've experienced all year. Make sure you have some available credit that can be used to pull you out of a tight spot.

Most importantly, make sure you have your head on straight and your mental game on point. It's easy to look back on things now and say that it wasn't so bad. The problem is that in the moment, you don't know when these freight market conditions will turn and you're losing money every day. You don't have an end date in mind and have to work on a hope and a prayer. It's tough to run a business with that going on.

We may ultimately see the same thing if an Omicron lockdown is set in place. Ultimately it's up to the government, both local, regional, state, and federal that will make the ultimate determination whether to call for an Omicron lockdown or not. If they do, expect similar market corrections and set yourself up for success by doing the things we're talking about in this video and described in this description.

If you make it over the hump, you can expect higher freight rates. In fact, I strongly believe that the rates would skyrocket and would be even higher than they are now or have been at the peak of the 2021 freight market. The reason for this is simple. There will be even less trucks on the road, thus exacerbating the already crazy truck driver shortage. There would be an even bigger shortage of products since we're already experiencing this without any major restrictions being put in place. The container shortage and the trouble that the ports are having in unloading the containers sitting at sea would not help the situation.

So breathe through this period, keep a level head, and don't make drastic decisions which you may later regret.

#Omicron #OmicronVariant #OmicronLockdown

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