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Commonalities of Successful Farmers & Ranchers with Dr. David Kohl [episode 56]


header graphic Commonalities of Successful Farmers & Ranchers with Dr. David Kohl [episode 56]

Listen to Commonalities of Successful Farmers & Ranchers with Dr. David Kohl on: Apple Podcasts | Spotify | Your platform of choice  



Virginia Tech academic Dr. David Kohl joins host John Haskell on the podcast today to discuss key factors and commonalities for successful farmers and ranchers. He emphasizes the importance of developing a monthly or quarterly cash flow plan, which he refers to as the REM factor (respond, execute, monitor), as well as regenerative practices for both resources and personal well-being. He highlights the significance of setting goals, introduces the 60-30-10 principle in finance, and the necessity of a risk management plan and community investment.



In this episode, Commonalities of Successful Farmers & Ranchers with Dr. David Kohl, we cover: 

  • Dr. Kohl's extensive experience both in academia and running a 25-year-old cow-calf hay operation and dairy creamery

  • Taking ownership of numbers, developing a cash flow plan, and understanding the operational plan

  • The dangers of lifestyle creep and the importance of allocating time and resources effectively

  • The need for age-friendly livestock systems and prioritizing mental, physical, and spiritual health

  • The importance of having a risk management plan, including crop and livestock insurance, and investing back into the community


Meet Dr. David Kohl:

Dr. David Kohl is an academic Hall of Famer in the College of Agriculture at Virginia Tech, Blacksburg, VA. Dr. Kohl has keen insight into the agriculture industry gained through extensive travel, research, and involvement in ag businesses. He has traveled over 10 million miles, conducted more than 7,000 presentations, and published more than 2,500 articles in his career. Dr. Kohl’s wisdom and engagement with all levels of the industry provide a unique perspective on future trends.

  

Resources & Links: 

 

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More about the Ranchonomics podcast:  

Welcome to Ranchonomics, where we empower you to build a better ranch and transform your operation into a thriving business. This podcast is brought to you by Ranch Right LLC, and together we will look at essential strategies, mindsets, and processes needed to take command of your financials and master the business metrics that make all the difference. If you are ready to start winning at ranching, then you are in the right spot. 


With each episode of Ranchonomics, you will hear inspiring success stories, gain simple yet powerful financial literacy tips, and listen to insightful interviews with industry experts and real-life practitioners. 


Whether you are a seasoned rancher or just starting out, we believe that managing a ranch shouldn't mean drowning in paperwork or missing out on valuable opportunities. Our mission is to help you see the link between your daily ranching operations and your financials that allow you to go from chaos to clarity and achieve your goals. 


Join us as we explore the intersection of ranching and finance, helping you understand your numbers and make informed decisions that propel your business forward. 

Subscribe now and start your path to a more profitable, less stressful ranching experience with Ranchonomics. It's time to harness the full potential of your operation. 

 

Make sure to hit subscribe/follow so you never miss an episode! 

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