A Real Friend Explained

A Real Friend!

Photo credit: Goodnet.org

A real friend is someone who cares about you, supports you, respects you, and wants the best for you. A real friend is not someone who uses you, lies to you, puts you down, or abandons you when you need them. A real friend is someone who makes your life more enjoyable and enriches your everyday experiences.

How to Find a Real Friend

Finding a real friend can be challenging, but it is possible if you are willing to approach others with mutual interests, be yourself, and be open to new connections. Here are some tips on how to find a real friend:

Join a club, group, or activity that interests you. This can help you meet people who share your passions and hobbies. You can also look for online communities or forums that relate to your interests.

Be friendly and approachable. Smile, make eye contact, and start conversations with people you meet. Ask questions, listen attentively, and show interest in what they have to say. Don’t be afraid to give compliments or share your opinions.

Be yourself. Don’t pretend to be someone you’re not or hide your true feelings. A real friend will accept you for who you are and appreciate your authenticity. Be honest, respectful, and trustworthy with others.

Be supportive and loyal. A real friend will be there for you in good times and bad times. They will celebrate your achievements, comfort you in your struggles, and help you in your needs. They will also stand up for you, defend you, and protect you from harm.

Be respectful of boundaries and differences. A real friend will respect your personal space, privacy, and preferences. They will not pressure you to do something you don’t want to do or judge you for your choices. They will also respect your opinions, beliefs, and values, even if they are different from theirs.

How to Be a Real Friend

Being a real friend is not only about finding the right people but also about being the right person. Here are some ways to be a real friend:

Communicate regularly and effectively. A real friend will keep in touch with you and let you know how they are doing. They will also listen to you and understand what you are going through. They will communicate with honesty, kindness, and respect.

Give and take. A real friend will not take advantage of you or expect too much from you. They will also not neglect you or ignore your feelings. A real friend will balance giving and taking in the friendship. They will appreciate what you do for them and reciprocate with gratitude and generosity.

Have fun and enjoy life together. A real friend will make time for you and share memorable moments with you. They will also make you laugh, smile, and have fun. A real friend will enjoy life with you and make it more meaningful.

A real friend is a rare and precious gift that can make a huge difference in your life. A real friend can make you happier, healthier, and more fulfilled. A real friend can also help you grow, learn, and achieve your goals.

To find a real friend, look for people who share your interests, be friendly and approachable, be yourself, be supportive and loyal, and be respectful of boundaries and differences.

To be a real friend, communicate regularly and effectively, give and take, have fun and enjoy life together.

A real friend is someone who cares about you as much as you care about them.

Nice Thing to do for a friend

That’s a very nice question. There are many things you can do for a friend to show them your appreciation and care. 

Photo credit: Quotespedia.org

Bake and decorate cookies. You can try one of the hundreds of cookie recipes online or use your own favorite one. Then, you can decorate them with icing, sprinkles, or chocolate chips. You can also write your friend’s name or a sweet message on them. Your friend will love this delicious and thoughtful gift.

Write a nice note. A simple, handwritten note can lift a friend’s spirits. You can write down a friendship quote, a memory, a compliment, or just tell your friend how proud you are of them. You can also include a small gift, such as a flower, a sticker, or a candy. Your friend will appreciate your kind words and gesture.

Invite them to a workout. If your friend enjoys exercising or wants to try something new, you can invite them to join you for a workout. You can go for a walk, do some yoga, or take a cardio class together. Working out with a friend can be fun and motivating. You can also chat and catch up while you exercise.

Take them out for coffee. There are many coffee shops that offer comfy chairs and a relaxing atmosphere. You can take your friend out for coffee and spend some quality time with them. You can help them shake off some stress, celebrate their success, or just reconnect. Coffee shops are also a good place to try new drinks and snacks.

Host a swap meeting. You can organize a cool and environmentally friendly swap event with your friend for clothes, DVDs, books, or games. You can ask them to bring things they don’t use or need anymore and create a swap area in your living room. This way, you can get new stuff for your closets, entertainment collections, or bookshelves without spending any money. It’s also an awesome way to clean up and discover new favorites.

These are just some of the nice things you can do for a friend. I hope you find something that suits your friend’s personality and interests.

A real friend is someone who cares about you, supports you, respects you, and wants the best for you. According to 

1. A real friend is someone who offers you support, improves your quality of life, promotes self-confidence, provides honesty and unconditional love, and helps you progress mentally. A real friend is also someone who listens to you, communicates openly with you, and makes you feel good

2. A real friend is not someone who uses you, lies to you, puts you down, or abandons you when you need them.

The Builders are Essential

Photo Credit: NASA Solar System Exploration

We received the first photo from the James Webb Space Telescope yesterday. This incredible machine was built to conduct infrared astronomy, including view objects that can’t be easily seen by the Hubble Space Telescope.

The Webb Telescope should “enable a broad range of investigations across the fields of astronomy and cosmology, such as observation of the first stars and the formation of the first galaxies, and detailed atmospheric characterization of potentially habitable exoplanets.” While the technology, and potential implications, are inspiring, this letter traditionally does not cover space exploration, astronomy, or telescopes.

So why am I writing about the Webb Telescope?

Production of the telescope was led by NASA, the European Space Agency, and the Canadian Space Agency. It started in 1996 and was initially planned to launch in 2007. That initial plan had a $500 million budget.

Due to numerous complexities, including production issues, the telescope was not finished until 2016 and the final price tag is estimated to be just under $10 billion.

Although the telescope was finished in 2016, it underwent extensive testing before launching in December of 2021.

That means that the project was 20x more expensive, and took 2.5x longer, than the original plan. But look at how amazing the very first photo is that has been released from the James Webb Space Telescope:

Photos that highlight stars from billions of years ago make us feel insignificant. All of our problems seem less important when you realize how small the human population is. We haven’t been around that long and we likely are only a footnote in the history of multiple galaxies. Wild stuff.

But my big takeaway from the Webb Telescope is that great pieces of technology take a long time to build. They require collaboration across organizations and individuals. There has to be a deep belief in the mission, along with a committed group that is willing to work on the problem for decades.

There is example after example in history of technologists staying the course and producing something that changes the world. It rarely takes 20+ years, but the very disruptive innovations certainly take longer.

As I read more about the process of creating the Webb Telescope, it made me think about bitcoin and the Lightning Network. The most decentralized, and strongest, computing network in history has been bootstrapped organically over the last 13 years. It has required individuals and organizations to collaborate, either directly or indirectly, to continue building out the global system.

There is no doubt that bitcoin miners and node operators are committed to the mission. They continue to plug their equipment in, secure the network, enforce the consensus rules, and process transactions. This occurs regardless of the economic, geopolitical, or social environment.

If we take this same framework and apply it to the Lightning Network, we can see that the decentralized layer two technology system has been growing like crazy over the last ~ 4 years. In fact, we just hit another all-time high in Lightning Network capacity yesterday.

Building a global, decentralized computing network is impressive. So is launching a telescope into space that can take pictures of stars from billions of years ago. Innovation is all around us. It can take decades to play out, which means it is easy to lose sight of how incredible these milestones are.

The future belongs to the builders. Everything around us has come to fruition because an individual or group decided to do the hard work to create something new. Watching the excitement around the Webb Space Telescope reminded me of how important the builders are. The bitcoin network is no different — the builders are essential to success.

Ask yourself this question, “what am I building?” The answer should tell you a lot about where you are in your journey at the moment.

How to Compute a Gross Profit in Trucking Services

Photo by Pixabay

 

Fixed Costs

Fixed costs are expenses that your company incurs whether your trucks are hauling a load or are in the parking lot. Fixed costs include expenses like insurance, property leases, permits and other services.

In the chart below, the fictional company Solid’s Trucks Inc. calculates fixed costs by the mile for the month of August. The chart divides each fixed cost by the 10,000 miles that Solid’s Trucks drove that month:

Solid’s Trucks Fixed Costs for August

  Monthly Cost Per-Mile Cost

Truck Payment $1,200 $0.12

Collision/Comp Insurance $600 $0.06

Office Lease $1,000 $0.1

Health Insurance $420 $0.042

Permits $350 $0.035

Total Fixed Costs $3,570 $0.357

Variable Costs

Variable costs are the money that your company spends in operating its trucks. These costs include fuel, maintenance, repairs, meals, lodging and other expenses incurred on the road. Variable costs can range greatly from one time period to the next. As you put more mileage on your trucks, you will see the variable costs increase. You should calculate these costs monthly to get the most up-to-date information on how much your company is spending.

Here is how Solid’s Trucks calculated variable costs. Again, the costs are divided by the 10,000 miles the company drove in August.

Solid’s Trucks Variable Costs for August

  Monthly Cost Per-Mile Cost

Fuel $1,700 $0.17

Tires $300 $0.03

Regular Maintenance $450 $0.045

Repairs $560 $0.056

Lodging/Meals $380 $0.038

Taxes $275 $0.0275

Total Variable Costs $3,665 $0.3665

Salary

The amount you pay your drivers is likely your single biggest expense. It needs to be part of your calculation of cost-per-mile. Here is what it looked like for Solid’s Trucks in August:

  Monthly Cost Per-Mile Cost

Drivers’ Salaries $3,750 $0.375

Total Cost per Mile

To determine the total monthly cost per mile, simply add the fixed, variable and salary costs. Here is the total cost per mile for the fictional Solid’s Trucks in the month of August:

Cost Per Mile  

Fixed Costs $0.357

Variable Costs $0.3665

Driver Salaries $0.375

Total Cost $1.098

Knowing your trucking company’s cost per mile benefits you in many ways. It helps identify spending patterns and areas where you can cut back if needed. Cost per mile also allows you to determine an appropriate per-mile rate to charge shippers. Knowing your company’s operating expenses on a per-mile basis gives you the information needed to be profitable.

If your cost per mile seems high, one solution is to take on more work. Not only will this increase revenue, but your cost per mile should decrease. While your variable costs may increase from taking on more work, the fixed costs will remain the same. Here is a fictional illustration of how increased mileage can decrease the cost per mile:

Miles Cost Per Mile

10,000 $1.09

15,000 $0.95

20,000 $0.85

Revenue and Profit Per Mile

To see how cost per mile relates to your company’s income and profitability, refer to our article, How to Calculate Revenue and Profit per Mile.

How to Calculate Revenue and Profit per Mile

There is a proven formula for determining if a load will generate a net profit for your trucking company.

Profit-Per-Mile Spreadsheet

Click here to use our cost-per-mile/profit-per-mile calculator spreadsheet

Your company needs to make money. That's a given. Determining profitability for trucking companies, however, can be a complicated process. As your company grows, it becomes crucial to regularly track how much money is coming in and how much is going out. Calculating revenue and profit per mile is the key to understanding your company’s overall financial health.

Your first step is to carefully track your expenses. You can learn more on how to do that by reading our article, “How to Calculate Cost per Mile for Your Trucking Company.” Once you have a handle on cost per mile, you can examine your company’s revenue. Subtracting cost per mile from revenue per mile will determine the net profit (or loss) of every mile your trucks drive. Accounting software such as QuickBooks, FreshBooks and Xero can help you make these calculations for less than $20 per month. If you have specific questions about calculating revenue and profit per mile for your company, it is also a good idea to consult a certified public accountant.

The following sections use fictional charts to illustrate revenue and profit per mile. These charts serve as examples that may not reflect all your company’s income and profitability. The final section addresses how you can use this information to build a sustainable, growing business.

Revenue per Mile

Revenue per mile determines how much money your company is generating for the services it provides.

In the chart below, the fictional company Solid’s Trucks Inc. calculates revenue by the mile for the month of August. The chart divides the revenue by the 10,000 miles Solid’s Trucks drove that month:

Solid’s Trucks Revenue for August

Monthly Revenue Miles Driven Per-Mile Revenue

$13,500 10,000 $1.35

Profit per Mile

In our article examining cost per mile, Solid’s Trucks added all of its fixed costs, variable costs and salary expenses for August. That added up to a total cost per mile of $1.098 for the month. To determine the company’s profit per mile, subtract the cost per mile from the revenue per mile:

Revenue ($1.35 per mile) – Cost ($1.098 per mile) = Profit ($0.25 per mile)

In the month of August, Solid’s Trucks posted a per-mile profit of 25 cents. That amounts to a healthy 19% profit margin on the $1.35 per mile in revenue.

How This Helps Your Business

Knowledge is power in the fast-changing trucking industry. You need to identify what markets to serve and which lanes that will generate the most revenue. It is equally crucial to know how much money your trucking company needs to charge in order to post a profit. Understanding how to calculate cost, revenue and profit per mile arms you with information you need to successfully negotiate rates with shippers and brokers.

While the example of Solid’s Trucks focuses only on the month of August, you need to know your company’s financial position over the course of several months. Industry factors like seasonal demand, weather conditions, fluctuating fuel prices and deadheading miles all need to be taken into account. For example, your company might have operated at a loss in January and February due to maintenance costs and severe weather. That means you need to adjust your rates for the summer months to ensure your company makes up for those losses.

There are several aspects to financial management for your trucking company. It all starts with knowing what it takes to be profitable. Calculating cost, revenue and profit per mile is a key step to putting your trucking company on the road to success.

Basic Accounting For Trucking Companies

You do not need to be a financial wizard to run a successful business but understanding the basics of accounting is definitely important.

No matter your fleet size or how long you have been in business, it is crucial to understand basic accounting terms and financial documents. Accounting explains your company’s financial history, health and overall performance. Without a good understanding of this information, you won’t know if you are succeeding or failing. That limits your ability to make informed decisions, operate effectively and position your company for future growth.

Common Terms

To get started, here are a few basic accounting terms and definitions:

Assets

 An asset is something of value that your company owns and can be converted into cash. This can include current assets such as accounts receivable, inventory and available cash. It also includes fixed assets like real estate, buildings and equipment.

Liabilities 

Liabilities are the debts and obligations of your business. They can include money owed on a loan, accounts payable, employee wages or taxes.

Equity 

Equity is your ownership interest in the business. In accounting, equity is calculated when a company’s liabilities are subtracted from its assets. Whatever remains from that calculation is your equity. When liabilities are larger than assets, negative equity exists.

Revenue and Gains 

Revenue is the amount of money that a company receives over a given period of time for the services it provides. On an income statement, revenue is also known as top line or gross revenue. Gains are one-time increases in revenue that are not part of a company’s regular operations. Some examples of gains include the sale of equipment or real estate.

Expenses and Losses 

Expenses are what it costs the company to perform its main operations. Losses are one-time transactions in which the company sells an asset for less than the amount it spent to acquire the asset.

Financial Statements

Understanding financial management involves some familiarity with financial statements. The three most common documents that companies use to gauge their financial health and performance are the balance sheet, the income statement and the cash flow statement.

A balance sheet is a snapshot of your company’s financial standing at any given point in time. It measures the relationship among assets, liabilities and equity. It also calculates your company’s debt load and overall financial health.

Solid’s Trucking Company: Balance Sheet, January 1, 2020

ASSETS

Cash $900

Accounts Receivable $1,400

Equipment $6,000

Real Estate $10,000

Total Assets $18,300 

LIABILITIES

Notes Payable $1,200

Accounts Payable $600

Accrued Wages $800

Total Liabilities $2,600 

OWNER'S EQUITY

Kevin Smith $15,700

Total Liabilities/Owner's Equity $18,300

The income statement shows how money flows through the company over a period of time. It measures sales against costs. Unlike the balance sheet, the income statement covers a certain time period (usually a month, a quarter, or a year).

Solid’s Trucking Company: Income Statement 2019

REVENUES AND GAINS

Revenues $50,000

Gain on Sale of Equipment $5,000

Total $55,000 

EXPENSES AND LOSSES

Expenses $40,000

Loss on Sale of Equipment $500

Total $40,500 

Net Income $14,500

A cash flow statement shows how much actual cash the company has on hand. It also projects future cash flow. This is an important statement for small businesses and entrepreneurs because it shows a company’s day-to-day financial health. While the income statement shows how your company performed in the past, the cash flow statement shows how cash is being generated or used. A company can show a profit on its income statement, yet still go out of business because of a temporary negative cash flow.

Solid’s Trucking Company: Cash Flow Statement, January 2020

OPERATING CASH FLOW

Net Income $14,500

Depreciation $1,000

Gain on Sale ($4,500)

Change in Receivables $1,000

Operating Cash Flow $12,000 

INVESTING CASH FLOW

Proceeds on Equipment Sales $6,000

Equipment Purchases ($600)

Investing Cash Flow $5,400 

FINANCING CASH FLOW

Payments on Loans ($7,000)

Distributions to Owner ($4,000)

Financing Cash Flow ($11,000) 

NET CASH FLOW

Operating Cash Flow $12,000

Investing Cash Flow $5,400

Financing Cash Flow ($11,000)

Net Cash Flow $6,400

Using Accounting Software

Using software for accounting can help you manage the different components you need to determine the financial well-being of your company. For smaller or growing companies, it may allow you to operate without needing an in-house accounting department or accounting personnel.