Posted June 30th, 2007 — Filed in Bud's Musings
Droughts have caused some serious problems around the world, both financial and emotional, so I’m not saying that a drought isn’t bad. Yet, in the U. S. more problems are caused by how we handle the drought than the drought itself.
A drought doesn’t start after six months or a year, it starts the first day that it is dry. It may be over the next day if it rains. In other words, it starts the first day. A long trip starts with a single step, not when you are half way or almost there. The first day it is dry is the time to start preparing.
Most people have a long-range plan. They probably use normal conditions when they make this plan. So as we go along, following our plan, everyday that it doesn’t rain will take us further and (more…)
Posted June 28th, 2007 — Filed in Bud's Musings
We constantly hear how hard it is for a young person to get started in farming or ranching.
It is no harder for someone to start in farming or ranching now than it was 70 years ago. The difference is that young people want to start with a place that will make them a good living. In the past, people were willing to start small.
I know a guy who worked at a local auction yard for one dollar a day. He saved until he could buy one calf. He kept the calf at the auction yard and paid for its feed by coming and taking care of the other animals each day. After a while, he sold this calf and used this money (more…)
Posted June 17th, 2007 — Filed in Bud's Musings
It seems like more and more people are looking for something that will make a lot of money with no risk. This is not easy to find. Risk and big profit go together. When investing, the things that usually return the most profit have the most risk. Knowledge and work will take some (or lots) of the risk out of certain things.
Knowledge may be the most valuable asset we can have. We should take the time to learn and understand something, not just copy – which may or may not help. If we try to copy a successful person, we will have to copy everything to be sure of getting the same results. To only copy part of what they are doing, or what we think they are doing, may not (more…)
Posted June 3rd, 2007 — Filed in Bud's Musings
People like to talk about goals. I only have one. That is to do better or to know more than I did yesterday.
People in business should have only one goal. That is to be profitable. There are other things that you would like to have happen, but put profit first. Kit Pharo states that “ranching can and should be very profitable.” There are a few people who think this way but not nearly enough.
Profit comes from a combination of knowledge and work. Knowledge is (more…)
Posted June 2nd, 2007 — Filed in Bud's Musings
We are Grass Farmers. Sometimes people get a little confused about what provides our income. It is the grass or feed that we grow. Animals are just one way to market the grass or feed. Grass is not our enemy, animals could be. Learn to love our grass and not just the animals. We should graze to get more and better grass, not just to own more animals. The animals that we own are one way to sell our grass. They should only be used (more…)
Posted June 1st, 2007 — Filed in Bud's Musings
When I was young, people on farms and ranches prepared for things. In the area where we lived, people worked hard everyday to stay prepared. Since they didn’t know if it would be wet or dry or if the winter would be cold or mild, they had to be prepared for whatever might happen. They didn’t talk about planning except in the morning, and then they planned their day. This is what I call a 24-hour plan. That is the plan I live by.
Now we are so lucky. Someone tells us what the weather will be for the next year. Someone tells us what the market will be (or might be) and on and on. So now all we have to do is plan our year. With all of this information (more…)