Tag: Business Owner

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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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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Some Ideas Should Fail

cattle grassland

How many of the new ideas that you implement work? I hope not 100%. If 100% of the new ideas you implement in your business work then you are probably being too cautious. There is a healthy portion of new ideas that should fail.   I spent a year riding pens in a feedlot. I really […]

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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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Lagging vs Leading Indicators

indicators

“When we choose the wrong measurement, we get the wrong behavior” (James Clear, Atomic Habits). At the Ranching for Profit School, we talk about how paradigms, actions, and results are related to ranching. These concepts look hard at why the business does what the business does.  First let’s talk about money. A very common financial […]

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Working Backwards

Planning Backward

One of Stephen Covey’s seven habits of highly successful people is to “start with the end in mind.” We use this a lot at our Ranching for Profit School, particularly during the evening coaching sessions when students are preparing their economic numbers. The Ranching for Profit economic model breaks down a business into gross margins […]

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Uses for Profit

money decisions

When we talk about uses for profit some people roll their eyes. “Profit – yeah right! Like that ever happens in agriculture.” The reality is that most ag operations are not profitable. In fact most are really expensive hobbies. However, it doesn’t have to be that way. Many are profitable every year. Some are highly […]

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Break Your Legs

broken leg

Remember in the movies when the bookie’s tough guy would knock on the door and threaten to “break your legs” if they didn’t pay up? Sometimes, I think many of us would be better managers for our operations if someone broke our legs. If our legs were broken we wouldn’t be able to go outside […]

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What is Your Role in the Ranch?

confused

Is your primary role in your business working as a doer or a planner? When the doer goes out the door in the morning, they get to work doing all the things that need to be done in the business. The list is never ending. Fix the water in the Smith pasture, put out mineral […]

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Moneyball is a Movie About Ranching

baseballs

The first time I watched the movie Moneyball, I about came out of my chair thinking, “This movie is about ranching”. The correlations are strong and the lessons from the movie are absolutely appropriate to agricultural businesses. In the movie Moneyball, Billy Beane is the general manager of the Oakland A’s, who have just lost […]

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