Per Diem Podcast
Jump in the front seat as the host Keaton Turner takes you on a daily ride through his life as if you were sitting right there in the action with him. The Per Diem Podcast is a daily dialogue of the good, the bad, and the ugly of building a business.
Mastering Equipment Costs - Part I: Insights, Strategies, and Real-Life Lessons
In this episode, Keaton Turner reflects on overcoming a bad day and credits David Kellerstrasse for his influence. He discusses the power of mindset in facing challenges and shares industry news on MP Materials and Apple's investment. Keaton covers economic fluctuations in mining and answers a listener's question on equipment costing and strategy. He highlights Mike Vorster's book and discusses simplifying equipment ownership costs, financing, and estimating residual value. Topics include calculating ownership cost per hour, the impact of idling, and usage-based cost accounting, wrapping up with insights on equipment depreciation and field decisions.
Key Points
- Mindset is the crucial factor in turning around a bad day and making it a phenomenal one.
- Understanding the true cost of equipment, including both ownership and operating expenses, is essential for accurate project budgeting and avoiding financial pitfalls.
- Idle time in machinery can significantly inflate costs, and proactive management, such as shutting down equipment when not in use, can save thousands of dollars.
Chapters
| 0:35 | |
| 1:36 | |
| 3:25 | |
| 7:06 | |
| 8:45 | |
| 10:12 | |
| 16:30 | |
| 21:43 | |
| 30:21 | |
| 34:12 | |
| 36:19 | |
| 39:29 | |
| 42:05 | |
| 45:47 | |
| 47:05 | |
| 49:25 | |
| 55:07 | |
| 56:27 |
Transcript
Loading transcript...
- / -