Category: Decision Making

Decision Making

2 doors

The leader of a business has an important role in making decisions. Every day we make dozens if not hundreds of decisions. Some minor and perhaps some major decisions. The success or failure of your business likely depends on a few important decisions you will make this year, next year and the year after. One […]

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Enterprise vs Entity

ranch barn

During the Ranching for Profit School, we focus on the economics of the “operating business” and not the “land investment.” The operating business must rent the land at fair market value from the land investment for the agricultural use. In other words, the cows don’t get to graze the ranch for free. This is a […]

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Getting the Feel for the Airplane

airplane

I believe everything relates to flying airplanes. Those who know me know that I have a passion for aviation. I like all things that fly and spend most of my free time thinking about flying, actually flying, or working on airplanes. Therefore, it only makes sense that many of my analogies will tie back to […]

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Redefining Retirement

retire tile

I am announcing my retirement! No, not from teaching at RMC or Sims Cattle Company (our family’s business), or from our consulting company, Adapt! I am retiring from being a stay-at-home mom! As of this coming August, I will no longer have kids at home who have been my main priority.  It sounds crazy, but […]

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New Paths for RMC

dirt road

Last ProfitTips, I reflected on the amazing past 40 years of RMC and this time I’d like to share with you some exciting new partnerships and efforts of RMC. Partnership with Noble Research Institute “If you want to go fast go alone, if you want to go far, go together” – African Proverb. In my […]

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Power of Management

calculations

A couple of weeks ago, I received a nice note from an alumnus of the Ranching for Profit School. He tracks his net worth annually by looking at his balance sheet and has been doing this for some time. You need to be careful when looking at net worth from the balance sheet in isolation, […]

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Ranch Coach

football

One of my favorite times of the year is upon us. No, not winter. Believe it or not, 10” of snow and -23 degrees F (current conditions as I write) just isn’t that exciting to me. What gets me excited right now is the NFL playoffs! Admittedly, it’s even more interesting since my team (Go […]

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Build an Auto-Pilot Business

cockpit

Dallas and I spend a lot of time in the plane together during the fall Executive Link run; three sets of chapter meetings in three weeks in three different states. One thing about living in Wyoming, the weather is not always airplane friendly, especially in a small plane, flown by your boss. I am always […]

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Fix the Cow Business Before You Sell ‘em

calf cow

Somewhere along the line Ranching for Profit has gotten a reputation for being the “sell your cows school”. I want to push back against that. I hope that Ranching for Profit is the “let’s build the business that you want and is profitable school.” I’d hate to think that someone comes to our Ranching for […]

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Cattle Profits and Taxes

Profits and Taxes

During the Ranching for Profit School, we introduce three issues involving money: economics, finance, and income taxes. We spend most of our time on economics (generating value and keeping profit) then some time on finance (cash flow and investment), and less time on income taxes. The reason for that order is based on the overall […]

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