A lot of people tell me that they want to be “debt free.” They are tired of making big interest payments on land, livestock, machinery and their operating note. They…
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Letting government programs dictate your management and set priorities can be costly. The most obvious example is probably the emergency feed program. In drought impacted areas, this program incentivizes ranchers…
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For decades we’ve been encouraged to evaluate the efficiency of production by focusing on weight weaned per cow. Now some are arguing that the critical measure should really be pounds…
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How is the next generation ever supposed to step up if the current generation can’t step down or at least step aside? The short answer is they can’t. It’s one…
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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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Most people assume that the biggest estate planning fights involve “Who will own what?” It’s been my experience that, “Who will run what?” is often an even bigger issue. “Who…
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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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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…
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I reviewed articles in Harvard Business Review, Forbes and Fast Company on resistance to change. The articles laid out the 12 reasons, the 10 factors and the 5 keys to…
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What would you have to do to increase profit in a business where you couldn’t control costs? You’d have to increase production per animal, increase the number of animals you…
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