Dr. David Kohl again joins host John Haskell to discuss the importance of a management mindset in farming and ranching operations. They discuss why, as a non-financial factor, having a strong management mindset matters and some tools you can apply to improve the various aspects of your business. Dr. Kohl highlights the significance of having a written business plan, setting specific, measurable, attainable, reasonable, and timely (SMART) goals, and regularly monitoring and adjusting plans based on changing conditions.

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In this episode, we cover:

• Why the cranium is the "sixth C" in addition to the traditional five (cash flow, character, collateral, conditions, and capacity)
• Effectiveness over efficiency and the concept of being a "five percenter"
• Practical steps to start creating a business plan
• The importance of transition planning and giving up control
• Monitoring business plans and adjusting them based on changing conditions
• Sensitivity analysis and risk management

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• Episode 57. Financial Metrics To Focus On with Dr. David Kohl
• Episode 56. Commonalities of Successful Farmers & Ranchers with Dr. David Kohl
• Book a Free Discovery Call to Learn More
• Ranching for Profit
• Ranching.FYI
• Wally Olson, Olson Ranch LLC

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