Tag: income

What Would You Do With $1,000,000?

In a recent Three Secrets For Increasing Profit® workshop I asked participants how much profit they want to make. It is an important question because you can’t hit a target that doesn’t exist and it’s impossible to build an intelligent plan unless you have measurable goals. But it’s an unfair question too. It’s unfair because […]

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Monuments to Tax Avoidance

We have our end of the year tax appointment next Monday. That reminded me of a ranch I visited a few years ago. The owner’s son showed me around. As […]

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Scraping By

I received the following email from a young rancher last week: Dave, I am a young rancher and have grown my herd to over 100 cows over the last four […]

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It Doesn’t Matter What They Want

Earlier today someone called me asking for advice regarding a bid he was about to make for a property he wanted to rent. The property could support 200 cows from May to October and the term of the lease would be 10 years. He hoped that I would have some knowledge about rents in his […]

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The Value of Gain & Grass

Wally Olson is a rancher from Vinita, Oklahoma. He has a profitable cattle trading enterprise based on the Sell/Buy marketing principles popularized by Bud Williams. At the foundation of Wally’s operation is an understanding of the value of grass and the value of gain. Wally is quick to point out that he doesn’t limit his […]

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Pay The Damn Taxes

In The Ultimate Legacy, Dr. Don Jonovic says that the most critical issues in an estate plan are: Who will run what? Who will own what? How will you make sure you have the capacity to pay the taxes so that the first two things can actually happen?   The transfer of authority can be […]

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Pay Me Now or Pay Me Later

Abby of Dear Abby, passed away last week.  I don’t intend to take her place dispensing relationship advice, but I do get my share of Dear Dave letters.  Here’s a Dear Dave inquiry I had last month:   Dear Dave, We have a problem. Our ranch manager is a family member but does not have […]

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Surgery with a Chainsaw

Ranching For Profit School instructors work with people in the evenings after class to help them apply the tools they learn in the school.  A lot of people take advantage […]

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You may own your job if…

In the last ProfitTips I asked you if you owned a business or a job.  I offered Robert Kiyosaki’s criteria from his book Cash Flow Quadrant: Could you leave for a year and come back to find your ranch working even better than when you left it?  If so, Kiyosaki says you own a business. […]

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