Top 10 Tax Preparer Conversations
I just finished my first round of Executive Link meetings. In addition to being a facilitator I also presented the continuing education session where we dug deep into economics, finance, and income taxes. Although it can be a dry and boring topic, we had great discussions during and after the presentation. A common request from EL members was […]
Read MoreUses for Profit
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 […]
Read MoreProductive But Not Profitable
North American agriculture could be described in one statement. “Productive but not profitable.” For decades the primary messaging to farmers and ranchers has been to become more productive. You see it everywhere, from the magazines, to the radio ads, to the messaging in our youth development programs. “It’s your responsibility to feed the world. Less […]
Read MoreKnow Your Destination
There isn’t a one-size fits-all approach to running a profitable ranch. If it were as easy as coming up with a list of practices to follow, ranching would be easy and it wouldn’t be nearly as interesting and fun. Those who have never attended a Ranching for Profit School often have the misconception that we […]
Read MoreA Business Mind Shift from Treg Ulmer
Treg Ulmer and his wife Courtney are members of the Executive Link program and building a business in Ohio. Treg shared some thoughts with me around balancing profit with other reasons why they choose to ranch. I encouraged Treg to write a ProfitTips column on this subject and I’m excited to share that here, with […]
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 […]
Social Distancing Rancher Style
As the coronavirus pandemic continues, all of us in America are changing many of our habits and routines to try and slow the spread. While social distancing is the norm for many in the ranching profession, we are most certainly adjusting our routines in the coming weeks and perhaps months. In my house, the major […]
Top 5 Business Management Actions on the Farm/Ranch
As we wrap up 2019, I want to share with you what comes to the top of my mind as actions that farms and ranches take when they are serious about their business management. If you are hitting the mark on these, well done! If not, then what will your strategy be to improve in […]
Ranching “Granny Style”
We have a basketball hoop in our dirt driveway (makes dribbling interesting). My daughter, Gracen, a sophomore in high school, plays several sports including basketball. I’ll join in on a game of “horse” every now and then. We make it more interesting by calling the type of shot, hook, backwards, or of course “granny”. I’m […]
The 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. […]