The Casual Cattle Conversations Podcast
Education:How To
Discover the biggest mistakes ranchers make with their finances in the cattle industry. From not knowing their financial direction to relying on ineffective bookkeeping, find out how these errors can leave ranchers in a precarious financial situation.
This episode is brought to you by Vitalix. Enhance your nutrition program with products that generate an ROI. https://vitalix.com/
In this episode, you will be able to:
Decipher the fundamental importance of in-depth financial understanding in the smooth operation of ranching businesses.
Realize the effectiveness of disclosing financial information to employees, in turn enhancing overall business operations.
Extract the nuanced disparities between the practices of tax accounting and management accounting in the sphere of ranching.
Detect and separate the profitable aspects from the unprofitable within your ranching venture.
Comprehend the significant benefit of teamwork and collective decision-making in improving financial understanding and management.
My special guest is John Haskell
Introducing John Haskell, a financial expert in the ranching industry. His unique experiences, particularly working at Deseret Land and Livestock Ranch, revolutionized his understanding of the sector's nuts and bolts. Driven by a novel approach to financial stewardship, John set up Ranch Right LLC, a firm dedicated to enabling smarter financial management in ranching. His commitment to helping cattle producers navigate their finances to improve operational results is truly commendable.
The key moments in this episode are:
00:00:02 - Introduction,
00:01:48 - Importance of Financial Knowledge,
00:08:51 - Two Sets of Books,
00:11:13 - Lack of Financial Framework,
00:15:01 - The Importance of Working on Strengths,
00:15:53 - Leveraging Expertise in Bookkeeping,
00:18:21 - Structuring Data to Answer Critical Questions,
00:19:59 - Confidence in Financial Data,
00:23:27 - Starting the Process of Cleaning Up Finances,
00:29:47 - The Materialistic Fallacy: Assets vs. Intellectual Capital
00:31:46 - Cash Flow and Financial Focus
00:33:32 - Cash Flow Focus vs. Appreciation Focus
00:34:32 - Building a Financial Team
00:45:36 - The Importance of Controlling What You Can,
00:46:22 - The Impact of Learning,
00:47:18 - The Power of Mentality,
00:48:43 - Techniques vs. Relationships,
00:50:06 - Eliminating the Victim Mentality,
Full Show Notes: https://www.casualcattleconversations.com/casual-cattle-conversations-podcast-shownotes
Free Weekly Resources: https://www.casualcattleconversations.com/ranching-resources
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Once a month Shaye hosts Q&A calls between cattle producers and beef industry leaders to help ranchers find answers to their questions and improve their bottom lines. The best part is you get expert insight from the comfort of your own ranch and get to ask any question you want relating to the topic!
Learn More About RancherMinds: https://www.casualcattleconversations.com/ranchermind-events
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Do you have an existing podcast or want to start a new one but don't know where to start? Connect with Shaye and she will lay out everything you need to know to get you started on the right foot.
Book a one-time coaching call using this link: https://calendly.com/cattleconvos/podcast-coaching
Interested in a coaching package? Email Shaye at casualcattleconversations@gmail.com and tell her about the podcast you want to start!
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