In the Ranching for Profit School we make clear the difference between WITB (Working In the Business) and WOTB (Working On the Business). We often say WITB, is the $10/hr…
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“You just can’t find anyone willing to work anymore.” I hear this quite often from ranches struggling to find and retain quality employees. When we look deeper into the situation…
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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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Dan Airely, a behavioral economist at Duke University conducted a silly experiment with serious implications. The experiment involved money, Coca Cola and college students. Dr. Airely stocked dorm room refrigerators…
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There are only three things anyone, anywhere in any business can do to increase profit: Decrease the overhead costs Improve the gross margin per unit Increase the turnover (the number…
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