John Ellsworth of Success Strategies has been an instrumental part of our Management Team and our positive financial results.
Where do you really want to be in five years? In ten years? How can you get there? What will it take to succeed in reaching those goals?
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Subject: Ahead of the Game!
I love the following quote from General Eric Shinseki of the U.S. Army: “If you don’t like change, you’re going to like irrelevance even less.”
What is he saying? We’ve got to keep up with change! Be like the Boy Scouts, who are always ready to – “Improvise, Adapt, & Overcome!” Every producer has lots of new challenges: Higher Feed Expenses, Increasing Fuel Costs, and more Government Regulations.
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We’ve talked previously about setting goals! There are benefits to being prepared for crises that can occur in your business. We need to have a plan in place for these types of challenges.
Futurists Jim Taylor and Watts Wacker, in their book The 500 Year Delta, stated that every business should develop a “Disaster Agenda”. While all of us are faced with negative challenges and nobody wants to dwell on them, we would be well served if we have given these situations some forethought. This is true for a crisis that might occur in any part of your operation: herd health, nutrition, facilities, management, or finances.
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Use the following questions on the financial analysis of your business. The first question, “What is our current performance?” In the area of finance, we would naturally consider measures such as profitability, cash flow and debt service coverage. Many of us study expense items when our revenue is lower, as in 2006. I would challenge you to review these line items in the good times as well. It is easy to let costs slip upward when there is less downward pressure on milk prices and cash flows.
Subject: Simply – Win!!
Win! That is what we do when we clearly establish the items that are most essential to be completed right now, also represented by the acronym WIN, “What’s Important Now?” Recently, I was working with one of my clients to determine how many of their 2009 objectives they had accomplished. They were amazed that each and every one of their goals and objectives had been accomplished! They also had “dodged the bullet” on all three of the “worst possible events” that they had estimated could happen during the same time period.
