In this episode, Jeff and Charley explore the basics and critical importance of understanding Profit and Loss (P&L) statements for running a successful trucking business. They share their experiences from nearly 20 years, explaining how many people remain unaware of P&L statements or how to interpret them. They emphasize the importance of accurate data and regular review of P&L statements to track business health and profitability. Jeff and Charley also discuss common errors, how to correct them, and the entrepreneurial mindset necessary for long-term success. You will hear Jeff and Charley recount their recent coaching session where they helped a RWE member identify missing data and improve their financial oversight. The episode offers valuable insights for both newcomers and seasoned professionals in the trucking industry.

Jeff and Charley, who are also the founders of Contractors Corner Consulting, LLC, invite you to watch their YouTube Live each Tuesday by visiting https://www.youtube.com/@ContractorsCornerConsulting/streams.

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