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John Ellsworth at Success Strategies helps us focus each month on where we are in our business and where we need to go next.
WHERE HAVE ALL THE LENDERS GONE?
Wow! Wasn’t 2009 a real tragedy in terms of overall cash flow and bottom line results? It was absolutely pathetic for most producers. Since then dairymen have been enjoying the fruits of higher milk prices. How can we avoid revealing the same calamities again? What could you have done differently as a manager? These are critical items to spend some time on.
The world of finance continues to amaze me. Recently, I had two clients whose banks decided that, in their opinions, they can no longer survive.
Well, well, isn’t that interesting…I don’t want to rain on anyone’s parade, but they had already survived! We had been in the process of rebuilding their working capital and positioning them for a better outcome during any future downturn. Learn from the past, and see what needs to be changed. For those items not optimal, let’s adjust our course so we achieve better results going forward.
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