The Value of a Day
What value does your business need to produce every day? Are you focusing on the right things to achieve this? At the Ranching for Profit School we teach participants how to structure the economic information of their business into a format that is meaningful for making effective business decisions. Over the past few months I’ve […]
Read MoreThe 3 Measures of Success in Business
In nearly 40 years of helping ranchers improve their land, their businesses and their lives, I’ve found that there are three things we need to measure to determine the success of a ranch business, or any business for that matter. They are: Profit, Effort, and Fun. Let’s take a quick look at each of these. […]
Read MoreManaging For What You Want
In Cash Flow Quadrant, Robert Kiyosaki explains that there are four ways to make money. You can be an employee (E), working for someone else for a salary. Alternatively, you can be self-employed (S), a business owner (B) or an investor (I). If you compare the E and S quadrants to the B and I […]
Read MoreGetting It Right or Getting It Fast
A young rancher attended his first Executive Link meeting a few weeks after completing a Ranching for Profit School. He showed his EL board the long to-do list he created at the end of the school and worried that there wasn’t enough time to get everything done that he needed to do. “I’m constantly putting […]
Read MoreHaving a Ranch AND a Life
A friend included me in an email chain informing us of a farmer he knew who recently took his life. I don’t pretend to begin to know this man’s pain or anything about his situation. But the story struck me as beyond sad. Responses in the email chain spoke of the stress of farming, peer […]
Read MoreA True Story About A Real Manager
About 15 years ago I met an absentee owner who was responsible for a family ranch that was losing money. It had lost between $200,000-$300,000 year after year for a long time. Over those years she’d made several threats to the two managers that if things didn’t turn around, the family would have to sell […]
Read More4 Reasons Why Increasing Weaning Weights May Not Increase Profit
I gotta stop reading this stuff. A recent article in a self-proclaimed “progressive” magazine claimed that July deworming was an often-overlooked opportunity to increase weaning weight and therefore profit. According to the article, deworming can increase weaning weights by at least 30 pounds at a cost of $7.85 per cow/calf pair. With a market […]
Read MoreWhat is Sweat Worth?
Most family ranches are subsidized with free, or underpaid, family labor. Sometimes the difference between what family members get and what it would cost to hire someone else to do the work they do is made up with the promise or expectation of sweat equity. But sweat is not a recognized form of currency and […]
Read MoreWhat Are You Worth?
I often ask audiences at schools and workshops if anyone pays themselves what it would cost to replace themselves. Very few hands go up and those that do are usually attached to the arms of Ranching For Profit School grads. Many justify not paying themselves a fair wage claiming that their ranch isn’t profitable enough […]
Read MoreRecords Are A Waste Of Time
Some people think that records are THE key to managerial success. Not me. I think most records are a waste of time. Records give us data. We need information. It takes analysis to turn data into useful information. The problem is we spend 90% or more of our time collecting the data and only […]
Read More