Is Opportunity Interest, Real Interest?
An opportunity cost is the lost benefit of choosing a different option. The opportunity cost of going to college is losing out on four years of wages; the true cost is tuition plus lost wages. At the Ranching for Profit School, we include opportunity interest as a cost on owned livestock herds, because there is […]Read More
Drought Isn’t a Surprise
If you’re in the ranching business, drought is a normal part of life. David McLean is part of RCS, our sister company in Australia. David refers to planning for the average year as “riding the unicorn”. David says it a bit more colorfully, “Stop riding the bloody unicorn!” Managing your business for the average year […]Read More
Calving season is in full swing across most of cow country and so are ranchers armed with a red book or smart phone app taking notes about birth dates, weights, calving ease, and a host of other things we were told we need to record to be good cattlemen and women. At the end of […]Read More
Sell/Buy Lessons from Aaron and Tara
ProfitTips is taking a different direction this time. Aaron and Tara Helmick recently shared with me a collection of “Lessons Learned” from the past 4 years as they have been on a journey to transform their business. I met Aaron and Tara at a Ranching for Profit School I taught in Rapid City, SD. Aaron […]Read More