Benefiting from the Good Times

For those of you who pay attention to details, yes the heading is the same as last month. This is an important topic & I want to pursue it further. Last month I talked about investing our increased profit not just spending it. I think this is a valuable idea. Investing our profit now will pay dividends for many years to come. Investing in our business can help us create a profitable, sustainable business for many, many years.

Each family & business is unique. The best way to invest your profit will vary from farm to farm. To arrive at your own best answer will require time & discipline. Don’t let that discourage you. It will be time well spent. I am reminded of a Will Rogers statement “thinking is hard work that’s why so few people do it.”

What is the number one resource on your farm? I am confident that we all realize it is our people. Let me share a quote from Stephen Covey.
“Economic security does not lie in your job
or your cattle or your land or your equipment.
It lies in your power to think, to learn, to create & to adapt.
That’s true financial independence.
It’s not having wealth.
It’s having the power to create wealth.
It’s intrinsic.”

There is no doubt that what makes you successful is you. Times & circumstances change. What doesn’t change is that you are always being challenged to create the future you desire. As long as you make wise decisions you will always be successful.

Knowing that our success depends on us the question arises. What can I do at this point in my life to increase my skills, knowledge & ability so that I can create a better future for myself & for those that I Love?

It is obvious that there is no simple answer to this question. Each person has their own unique best answer. I believe you can find your answer. To get you started I will share a list of ideas.


1. Revisit your goal. If your goal clearly expresses what you really desire move on. If your goal is not clear rewrite it. It will likely be beneficial to get help. Remember you are investing in yourself. The best possible investment ever.
2. Begin or continue to use your goal to make decisions. The holistic goal is designed to give us direction over a long period of time. It helps us decide which actions will move us closer to our goal (these we want to choose) & which actions may move us away from our goal (these we say no to). If you don’t use your goal to make decisions it is of no value to you.
3. Improve your communication skills. Communication is a huge challenge. I struggle with it continually. Learning to listen with a sense of understanding is essential. Being able to express yourself clearly is extremely valuable.
4. Increase your self-discipline. Discipline – The one quality which sets one man apart from another – the key which lifts one to every aspiration while other are caught up in mediocrity – is not talent, formal education, nor intellectual brightness; It is self discipline. With self discipline all things are possible without it even the simplest goal can seem like the impossible dream.
5. Find a mentor. There is no better way to learn than from a mentor. Find someone you admire, someone of good character, someone you think is successful. Cultivate that friendship. Most people are anxious to help when you ask.
6. Networking. None of us can know it all. What we can do is to develop a network of friends with a wide variety of knowledge. We can call on this network whenever necessary.
7. Read good books. Reading good books is one of the best ways to learn. Become a lifelong learner.
8. Improve your time management. Each day gives you 86,400 seconds. Learn to spend your time wisely. Stephen Covey’s book The Seven Habits of Highly Effective People is a great resource.
9. Join a management club. There is nothing like a group of close, intimate friends to help you grow & succeed.
10. Any other good idea you may have.
I wish you success with your endeavors. Remember investing in yourself is the best investment you will ever make. Next month I will look at investing in our businesses.

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