Wednesday, April 27, 2011

Moving Forward in Uncertain Times

A Penny Saved ...

When we consider the business climate we are working in right now, it does give us pause. Change is the only constant in life, behind death and taxes. Whether you have a small farm or a large business the key to succeeding is to be able to evaluate and decide the big questions that present themselves in the course of moving through time. Those that can will be able to stay ahead of the curve and optimize opportunities that are time sensitive.

To aid in those decisions requires good data. Keeping good data both on production and business aspects of your enterprise will help in the analysis of questions affecting your firm. By having a good sense of where you are will help in where you are going. With the present climb in oil prices, it would be good to know what your average trip consists of so that you may be able to predict consumption and perhaps lock in a fuel price for your fleet. Comparing current production to breeder goals and comparable flocks will also help "benchmark" your current position and aid in decision making for the future.

We would think it silly to drive through a city without a speedometer, so why make business decisions solely on "Gut Instincts". With all the financial software and spreadsheets available, it would be prudent to use these tools to help aid the "Gut" in navigating through the tough decisions in a hard economy.