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<blockquote data-quote="redfornow" data-source="post: 151934" data-attributes="member: 1580"><p>The same logic applies to businesses. 98% of all business go out within five years. It adds up this way, if you dont plan the first bad year puts you out. For some its the first bad month or quarter. Those same people will tell you there is no money in "X" while others go on. </p><p></p><p>Same goes for cattle, there is money. More at times than at others. Thats not farming that is business in general. Most people are great at counting the money, but rarely is there an exit plan that goes beyond what can be made.</p><p>Your first good year dont go into debt just because the bank will give it to you. </p><p>Asset related income. thats the name of the game</p><p></p><p>MD</p></blockquote><p></p>
[QUOTE="redfornow, post: 151934, member: 1580"] The same logic applies to businesses. 98% of all business go out within five years. It adds up this way, if you dont plan the first bad year puts you out. For some its the first bad month or quarter. Those same people will tell you there is no money in "X" while others go on. Same goes for cattle, there is money. More at times than at others. Thats not farming that is business in general. Most people are great at counting the money, but rarely is there an exit plan that goes beyond what can be made. Your first good year dont go into debt just because the bank will give it to you. Asset related income. thats the name of the game MD [/QUOTE]
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