At the Ranching for Profit School, we explore “3 Issues of Money” that we label as Economics, Finance, and Income Tax. That is the correct order to consider when making…
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Mentioning that records are a waste of time can usually start an argument, or at least get someone questioning all the hours they have spent keeping detailed records over the…
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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…
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In Cash Flow Quadrant, Robert Kiyosaki explains that there are four ways to make money. You can be an employee (E), working for someone else for a salary. Alternatively, you…
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A friend included me in an email chain informing us of a farmer he knew who recently took his life. I don’t pretend to begin to know this man’s pain…
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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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I gotta stop reading this stuff. A recent article in a self-proclaimed “progressive” magazine claimed that July deworming was an often-overlooked opportunity to increase weaning weight and therefore profit. …
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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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I often ask audiences at schools and workshops if anyone pays themselves what it would cost to replace themselves. Very few hands go up and those that do are usually…
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Income - costs = profit, right? The answer is “sort of.” It’s a little more complicated than that because we need to adjust for inventory changes, consider non-cash costs like…
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