Category: Economics & Finance

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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Tax Time

tax time

Tax day is just around the corner and it is common for folks to struggle with getting their taxes done. There is nothing we can do about the past, but there are changes you can make now to make future tax days go smoothly and be less burdensome on everyone’s time. Here are five things […]

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Reminiscing on our Roots

Stan Parson's course

Ranch Management Consultants was founded in 1983 by Stan Parsons. Stan Parsons had a background in animal husbandry and agricultural economics then after years of working with ranchers in the field he developed the Ranching for Profit School and led RMC for its first 20 years. Wrapping up 2023 marked our 40th year in business! […]

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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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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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Access to Cash Creates Opportunities

cash calculation

This fall it has been energizing to engage with hundreds of ranch business owners from across North America through the Executive Link Program we lead, as they tackle tough challenges and exciting opportunities in their businesses. At our fall Executive Link (EL) meeting we do a ½ day continuing education program. This time John Haskell […]

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Think Beyond Profit

meeting profit

Congratulations! You’ve just come through record cattle prices, you took Dallas’ last ProfitTips to heart, and now you’re sitting on a pile of money and wondering “what now?” There are many negative paradigms surrounding money, not only within agriculture, but within our society. Those paradigms have limited our ability to discuss money freely and openly. […]

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Don’t Screw Up the Windfall Profits

fancy steer

2023 is shaping up to be a record profit year for many in the cattle business. I know not everyone is participating as there are regional droughts and specific situations for some, that will take you out of this opportunity. Nevertheless, for some the stars have aligned.   The last time we saw record profits in […]

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Business is a Noble Endeavor

sheep sunrise

Last week I along with Jordan Steele and a few RFP alumni attended the EntreLeadership Summit put on by the Ramsey organization in Nashville, Tennessee. It was an amazing week hearing from world-class thought leaders and business trailblazers. Dave Ramsey gave a presentation called The Nobility of Business. His point was that so many condemn […]

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