Business & Economy Trends
Managing Through the Cycles: Profits
March 12, 2010
By Dr. David M. Kohl
Regardless of enterprise, tenure, size of business, and goals, every business person must manage through cycles. Yes, there are weather, economic, business, and many other cycles related to business and lifestyle. The key to managing cycles is to develop a game plan and process to manage through the opportunities and challenges that come with the territory.
Let's discuss some of the principles of managing business, economic, and financial cycles. First, is your business...
Past Articles
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Financial Benchmarking: Part 3
March 5, 2010
By Dr. David M. Kohl
The last two columns discussed the pros and cons of financial benchmarking. This management tool can be used as a proactive measure for building a case for borrowing money for next year's crops...
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Financial Benchmarking: Part 2
February 26, 2010
By Dr. David M. Kohl
The last column explored the benefits of financial benchmarking and provided a key metric pertaining to profits. Let's discuss the drawbacks of this management tool and how to make benchmarking...
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Financial Benchmarking: Part 1
February 19, 2010
By Dr. David M. Kohl
Benchmarking is not a new concept to business and agriculture. In fact, it has been around for a long time as producers compare yields, costs, and values with their neighbors down the road....
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The Price Taker Question
February 5, 2010
By Dr. David M. Kohl
"Hey Doc: I am a price taker and have to take the price that is given for my wheat crop, much different than the value added dairy business you are involved in." This was a comment at a noon...
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Cry for Help: Part 2
January 29, 2010
By Dr. David M. Kohl
My last column was a response to a young producer who, like many, is facing issues concerning a financial blow to his business acumen. This situation is being played out across the agricultural...
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Cry for Help: Part 1
January 22, 2010
By Dr. David M. Kohl
I need your help. I am a new farmer who started my farm from scratch about five years ago. It has been an uphill battle buying equipment, getting land, and learning the trade. I also work off...
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Question Corner
January 8, 2010
By Dr. David M. Kohl
Occasionally I receive questions from the readers of this column and other articles that I write. The focus of this article will be on two questions that I received from a reader recently. ...
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Lifelong Learners
January 8, 2010
By Dr. David M. Kohl
Recently my Globe Trotter travels took me on a six-day road trip in the Pacific Northwest. This was in conjunction with Northwest Farm Credit Services' "Days with Dave" and the "Power Lending"...
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Last Talk of the Decade
January 1, 2010
By Dr. David M. Kohl
The other day in St. Cloud, Minnesota, the finishing touches were in place for my final address of this decade. Before going on stage, my thoughts centered on all the factors impacting the...
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What is a Good Rate of GDP Growth?
December 18, 2009
By Dr. David M. Kohl
A common question I am asked by agricultural groups is, "What is a good rate of GDP growth"? First, GDP represents Gross Domestic Product or output by our nation. The United States is the...
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