TruckTalk:
LESSON 2
The 5 Elements of Business
By Kevin Rutherford
We’re halfway through the year, and if there was ever a time to take a hard look in the mirror—this is it. July is all about independence. Fireworks, flags, freedom. But let me ask you something honest: is your business really free?
Are you working for your business, or is it working for you?
Too many people confuse movement with progress. They’re rolling miles, cashing checks, and calling it a business—but they’ve skipped the foundation. Lesson one taught us the purpose of business is to make money. But that’s just the starting point. Now we get to the bones of it.
There are five—count ‘em, five—core elements that every legitimate business must have. Not optional. Not “nice to have.” These are non-negotiables. You leave one out, and you're not in business. You’ve got a hobby, a passion project, or a financial nightmare. The good news? None of this is rocket science. The hard part is being honest about where you stand.
And in this economy, you can’t afford to fake it.
This month is your mid-year wake-up call. Because once you understand these five elements and start measuring every decision against them—things change fast. You don’t need more motivation. You need clarity, consistency, and the guts to fix what’s broken.
Let’s get into it.
The 5 Elements Every Business Must Have
- It creates and delivers something of value. If what you’re doing doesn’t solve a problem, meet a need, or bring something useful to the table—why would anyone pay for it?
- That other people want or need. It's not about what you like—it's about what they will buy. There’s a big difference between what’s fun and what’s profitable.
- At a price they’re willing to pay. Not what you think it’s worth—what the market says it’s worth. The marketplace always wins.
- In a way that satisfies the customer’s needs and expectations. The job isn’t done when you deliver—it’s done when they say, “I’d hire you again.”
- With enough leftover profit to make it all worth it. You’re not in this to break even. Break even is burnout waiting to happen.
Action Plan
- Do a mid-year review in ProfitGauges. Are you hitting your goals, or just spinning your wheels?
- Survey your past five customers. Ask them what they liked—and what they didn’t. Don’t assume.
- Compare your rates to current market data. If your pricing is off, you’re either leaving money on the table or losing loads.
- Write down what makes your service different. If you can’t explain it, your customers won’t see it.
- Tune in to the AudioRoad Network. Listen daily, call in with your questions, and learn from other business owners. This is where the sharpest minds in trucking hang out.
Ask Yourself
- Am I delivering what people actually want—or just what I hope they’ll buy?
- Do I understand what makes people willing to pay more for my service?
- What’s my definition of “enough profit,” and am I reaching it?
Closing Thought
Business isn’t complicated—it’s just not optional. You’ve got to have all five parts working, or you don’t have a real business. July’s the perfect time to take your independence seriously. You didn’t get into this game to settle. Let’s build something worth staying in the driver’s seat for.
