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I need advice in Starting a Cattle Farm
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<blockquote data-quote="Hitch" data-source="post: 454935" data-attributes="member: 6106"><p>There are some good postings that have been sent to you. You are blessed to have the land and my compliments on your motivations to think of a serious cattle operation. Now, take a really deep breath and sloooow down. You are talking a serious business undertaking and emphasize business to yourself over and over again. First, what kind of cash, or assets that can be converted to cash in less than a year, do you have in hand? Many highly talented business people go bankrupt due to growing too fast. You will need lots of cash equity, sweat equity, and excellent credit on top of that. You should have rather formal business and marketing plans; no hunches, memories of days gone by, or warm sentiments will do. Develope a proper mission statement and strategic goal for your business to start with. Write out an implementation plan for your strategic plan that is flexible and realistic and monitor/modify it carefully. What do you know about inventory management and control? Get a good accountant. Climb into your county agent's back pocket. Visit with some experts at Ag schools via the internet at least. You may want to offer your land assets to someone that has a proven record in the cattle business and that you can trust. Be a partner/student so-to-speak and grow into the business at somewhat less risk and costs. It's the up front costs (front loaded costs) that can knock you for a loop before you even get started. Study successful/profitable outfits that are similar to yours in size, breed of cattle, and scope of operation - and limit your 'benchmarking' to operations that share the most similarities to what you want to do and where you want to do it. How are the successful people doing it?From the time your first beef calf drops, plan on 12 to 18 months to get the best possible return on investvent in that cow/calf. I bet you can do it in the long run but use your calculator more than you heart. Have fun. Redefine all of the challenges you meet as opportunities to do something in a new or better way.</p></blockquote><p></p>
[QUOTE="Hitch, post: 454935, member: 6106"] There are some good postings that have been sent to you. You are blessed to have the land and my compliments on your motivations to think of a serious cattle operation. Now, take a really deep breath and sloooow down. You are talking a serious business undertaking and emphasize business to yourself over and over again. First, what kind of cash, or assets that can be converted to cash in less than a year, do you have in hand? Many highly talented business people go bankrupt due to growing too fast. You will need lots of cash equity, sweat equity, and excellent credit on top of that. You should have rather formal business and marketing plans; no hunches, memories of days gone by, or warm sentiments will do. Develope a proper mission statement and strategic goal for your business to start with. Write out an implementation plan for your strategic plan that is flexible and realistic and monitor/modify it carefully. What do you know about inventory management and control? Get a good accountant. Climb into your county agent's back pocket. Visit with some experts at Ag schools via the internet at least. You may want to offer your land assets to someone that has a proven record in the cattle business and that you can trust. Be a partner/student so-to-speak and grow into the business at somewhat less risk and costs. It's the up front costs (front loaded costs) that can knock you for a loop before you even get started. Study successful/profitable outfits that are similar to yours in size, breed of cattle, and scope of operation - and limit your 'benchmarking' to operations that share the most similarities to what you want to do and where you want to do it. How are the successful people doing it?From the time your first beef calf drops, plan on 12 to 18 months to get the best possible return on investvent in that cow/calf. I bet you can do it in the long run but use your calculator more than you heart. Have fun. Redefine all of the challenges you meet as opportunities to do something in a new or better way. [/QUOTE]
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