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The Ranch Business Time Bomb
Think of a ranch business you know of, that is no longer in business. Now I want you to think of the underlying cause for that business no longer being around. Was it related to production? Did the cows not breed, the calves weren’t big enough to bring in decent money or was the death […]
Read MoreBusiness IQ
Dr. David Kohl of Virginia Tech has a solid grasp of what it takes to run a successful ag business. He has spent a career speaking, studying and writing on what separates those who are successful in ag business management from everyone else. I was recently reintroduced to Dr. Kohl’s Business IQ test and want […]
Read MoreGross Margin Inside the Cow Herd
We just wrapped up a full school in Oklahoma City. It was an amazing week where 54 people spent a week exploring the leadership of their businesses and making new friends along the way. Wally Olson of Olson Ranch and founder of Ranching FYI stopped by and discussed cow depreciation and how to make decisions […]
Read MoreDrought Planning
Millions of dollars in bad decisions are made every year as ranches manage through dry-times. Not to mention the damage to pasture heath that occurs through delayed decision making. Primarily, hope of moisture to come and emotional attachment to breeding stock, drive the procrastination of necessary decisions. Having a well-developed drought plan is something that […]
Read MoreThat Crazy Grazing Stuff
“You guys don’t tell people to do that crazy grazing stuff with the electric fence do you? Because if so, I’m not coming.” That was an email I recently received asking about our Ranching for Profit School. I responded with a polite and honest answer but the more I think about maybe I should have […]
Read MoreProfit – What is it Anyway?
At the Ranching for Profit School since we talk about profit, we believe we better define it. We ask the participants at the school to come up with a definition of profit, they usually respond with something like Income – Expenses = Profit. Let’s play with that definition some and see how it works. If […]
Read MoreAdding a New Enterprise
We are in the final days of our 2021 winter Executive Link meetings where Ranching for Profit alumni form peer advisory boards and look into each other’s businesses for strategic level advice. One issue that frequently comes up is the evaluation of adding a new enterprise to the operation. The operator is often excited about […]
Read MoreWinter Calving
Calving season has begun across cow-country and so have the stories of sleepless nights, calves being brought inside the house to warm up and heroic tales of battling the recent polar vortex across the country. Granted this weather was extremely unusual for some parts of the country, but for places where this is part of […]
Read MoreThe Power of a Profit Target
Having a clear target is a powerful thing. A few years ago, I led my son’s scout troop to climb Longs Peak in Colorado. We hit the trail about 2:30 AM and watched the sun rise while sitting above the tree line. As we entered the most difficult stretches, we all struggled at different times. […]
Read MoreAllocation of Overheads is a Bad Idea
The team here at RMC has been busy holding Ranching for Profit Schools in several locations. At these schools, a good part of classroom time is spent teaching and applying the Ranching for Profit Economic Model. This is our trademark way of doing an economic analysis of the ranching business, but the fundamentals apply to […]
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