Does the name Coco Chanel ring a bell for you? Your Mom probably used her products when you were growing up. I know my Mom did. Coco Chanel was a French entrepreneur who founded the famous fashion & perfume brand Chanel. I know – you’re probably asking – where am I going with this?
During a recent interview I completed on Dairy Business.com with Joel Hastings, I mentioned that several Key Performance Indicators (KPI’s) on dairy operations, such as Pregnancy Rate (P/R) and Days in Milk (DIM), can provide a clear reflection of your profitability.
Recently, it seems like I hear a lot of comments about how people aren’t doing better, either because of the President, some Congressman, some policy or some other factor out of our control.
Recently, I heard a classmate from my MBA program at Duke University deliver an excellent message on Leadership and what it takes to truly be a leader.
Ray Kroc, the entrepreneur behind the McDonald’s Corporation, stated, “I didn’t invent the hamburger. I just took it more seriously than anyone else.” Likewise, I didn’t invent Cash Flow Analysis. I have simply taken it more seriously than most people for over 20 years. Why?
I recently met with a Client of mine and his Lender. In spite of all the positive changes being made at this operation in terms of his reproductive program, efficiency measures, and higher than ever milk production, we were quickly informed that “The Sky is Falling!” I thought to myself – Why, after the last four years & all the difficulties we have faced and overcome during that same time, would anyone suddenly conclude that the sky is falling?
You may find the title listed above to be sort of strange… Or interesting? Or antagonistic? However, I really intended for it to be “stimulating” for you and your thought process. In essence, if your Annual Goals could speak, would this be a question that they would be asking you?
I was thinking recently about the many Clients we have assisted with the development of what I call a “Financial Plan” to take their business to higher levels of profitability and success. I have literally been doing this for 21 years at this point, and this may come as a shock to you, but in most cases these Clients didn’t want a “Financial Plan.” Let’s consider some of the reasons for this.
I recently was talking with a Client about the achievements he had been enjoying the past two years, despite the downturn in the dairy industry. Suddenly he added, “John, we’ve been getting sound results, especially in comparison to the rest of the industry, but, man, it just seems so slow in comparison to what we used to do 10 years ago…”
I recently received an e-mail from a reader of one of my previous blogs, expressing his concern that he wasn’t quite sure that he could get his business where he wanted to take it in the future. After describing the situation with his current lender and the various cash flow challenges he was having, he asked me if I thought there was any possibility for him to move forward.
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