Business Management
A comprehensive estate plan considers not only your assets after your passing but also your health, living, business and financial circumstances for the remainder of your lifetime. Here are summaries of common estate planning tools you may consider.
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Incorporating the 'Four P's' into farm and ranch leases
Agricultural leases are an important tool for producers. Leases may be written or oral, but the best leases provide written evidence of the parties’ agreement and contain the “Four P's”: the parties, property, period and payment.
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Waiting for ships to come in: Rethinking ranch profitability
Producers who simply hope for profitability, rather than demand and plan for it, are missing opportunities as managers.
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Using the QuickBooks inventory system
QuickBooks’ inventory management features are problematic for ranching due to confusing features and inaccurate automatic entries. While suitable for some cattle operations, ranchers often opt for Excel to track livestock, using QuickBooks primarily for financial reporting.
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From a plywood sign to SEO: The changing face of marketing
Reaping the highest rewards from a sale is vital, not only for short- and long-term profitability, but to establish credibility, brand and industry longevity. The ways to ensure this happens have changed drastically over the years.
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Riding the bull: The power of options in cattle feeding
Cattle feeders can thrive in bullish markets by employing options as a risk management tool. With the use of put options, cattle feeders can safeguard against price declines while enabling gains with price increases.
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Things to consider before adding females to a production sale
Females need to be marketed differently than bulls. Knowing how to effectively market these animals will help lead to a successful sale.
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3 tips for writing an effective job description
The ranching industry struggles to find qualified employees due to declining interest in agriculture and higher wages in other sectors. Effective recruitment and support for skilled workers provide a competitive edge.
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What cattle producers should prioritize in an inflationary market
Inflation and interest rate increases are raising expenses and requiring producers to obtain more credit. To safeguard their finances, producers should use suitable loan terms, mitigate price risk and assess their risk tolerance.
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7 best practices for making mixed use of cattle grazing land
Grazing land owners are being approached with opportunities to combine cattle grazing with clean energy and carbon offset technologies, but they need to be cautious to ensure their primary use of the land is not compromised.
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