About 15 years ago I met an absentee owner who was responsible for a family ranch that was losing money. It had lost between $200,000-$300,000 year after year for a…
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Most family ranches are subsidized with free, or underpaid, family labor. Sometimes the difference between what family members get and what it would cost to hire someone else to do…
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There are two big pieces to the estate planning puzzle: who will run what (management succession) and who will own what (the transfer of assets). In my last ProfitTips article…
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University of Wyoming Extension agent and Ranching For Profit School instructor, Dallas Mount, recently led a management succession workshop in Baggs, Wyoming. Dallas is a gifted, innovative teacher, and I…
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Several weeks ago I included a WOTB quiz in a ProfitTips column in which readers could score the extent to which they work ON their businesses. Click here to read that column. The column…
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We use a process at RMC to help families and business teams create a shared vision and a plan to achieve it. We start by asking a very basic question:…
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In an earlier ProfitTips column I wrote about a young couple who, after attending a Ranching For Profit School, came home to meet a brick wall of resistance from the…
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Many of us hope and fear that the next generation will want to be part of the family business. We hope because we feel validated that we must have done…
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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…
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