Everyone is Broke… they just don’t know it YET! with Vidal Espinosa of Invictus Advisors

Send us Fan MailEpisode 28: At the Heavy-Duty Parts Report we discuss how important it is to focus on cost-per-mile over purchase price. It’s a mantra that I have preached for over 20-years but despite the concept of buying high-quality parts and getting better performance is easy to grasp on the surface it proves to be much more difficult to execute on when faced with economic realities.   Could a change in our own perceptions about money help us to not only improve our personal financial situation but also improve our business acumen and help us to operate more profitable financially viable businesses?  My guest today is Vidal Espinosa of Invictus Advisors. Vidal is a unique accountant: He believes that everyone is broke...they just don't know it yet.  Vidal answers these questions in this interview:  Question 1: What is the fundamental reason people are broke?  Question 2: What should we all be doing differently?   Question 3: What impact will this have on our personal finances?  Question 4: There is plenty of opportunity for fleets to improve their profitability, one of which is to focus on cost-per-mile over purchase price when buying heavy-duty parts when repairing their equipment. From an accountant’s perspective, is this a wise strategy?   Question 5: Can you share with us an example of a fleet that you have helped?   Question 6: If there is one thing you want the listeners to take away from today’s conversation, what is that one thing?  To learn more, go to Invictus-Advisors.com.    Next Steps: Visit HeavyDutyPartsReport.com to subscribe, rate, and review the podcast on your favorite podcast player.  If you would prefer to watch these episodes go toThe Heavy-Duty Parts ReportYouTube Channel, subscribe and make sure to click the bell so that you are notified when a new episode goes live.  This Episode is Sponsored by FULLBAY: If you own or operate a heavy-duty repair shop you should check out this game-changing, cloud-based solution. You can have it all; efficient techs, faster invoicing, better inventory tracking, and more time with your family. To learn more, go to Fullbay.com/hdpr today. Disclaimer: This podcast and description may contain affiliate links, which means that if you click on one of the product links, The Heavy-Duty Parts Report may receive a small commission. Follow the podcast to never miss an episode. If you'd like to work with Jamie Irvine directly, you can schedule a meeting with him today.