Ranchonomics

Julie Davidson, an experienced insurance professional, joins host John Haskell on the podcast today to share her farm and ranch insurance insights and considerations for how to protect your ranch. Key insights include the importance of regular policy reviews, the pitfalls of outdated coverage, and the critical role of insurance scores in setting premiums. Julie also emphasizes the need for adequate liability insurance, including liability umbrella and premises policies, and explains the impact of claim frequency on insurance ratings.

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

In this episode, we cover:

• The role of an insurance adjuster and their involvement during claims
• Challenges farmers face when switching agents or inheriting policies from previous generations
• Basic livestock insurance options, such as coverage for death loss on the road, and why you shouldn't rely solely on blanket coverage
• The necessity of maintaining adequate liability coverage to prevent severe financial consequences from lawsuits
• Several elements that influence insurance scores, such as claim frequency, credit score, and the frequency of changing insurance providers

Connect with Julie:

• Send her an email at [email protected]

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

Alex McKiernan and John Locke are back with host John Haskell in this episode of the Ranchonomics podcast to discuss the concept of legacy in ranching. Building on the discussion from last week's episode about mission and vision, John Locke stresses that legacy begins with a vision and can be either a blessing or a burden, depending on how it's understood and managed. They share stories that illustrate the impact of past generations' decisions on future ones, emphasizing the need for reflective listening and intentional stewardship. This conversation also highlights the importance of creating value beyond financial assets, such as fostering innovation and community service, to ensure a sustainable legacy for future generations.

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

In this episode, we cover:

• The need to regularly revisit and adapt a business's mission and vision
• The importance of not letting past generations' expectations limit future generations
• Being good listeners and understanding the intentions behind past generations' decisions
• Creating value beyond assets and thinking about the long-term impact and how they can continue to provide value over multiple generations

Connect with John:

• Follow on Facebook
• Send him an email at [email protected]

Connect with Alex:

• Follow on Instagram @robinettefarms
• Check out his website

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• What Would the Rockefellers Do? by Garrett B Gunderson
• Episode 64. Defining Your Ranch Legacy with Alex McKiernan and John Locke
• Episode 63. Mindset and Emotional Barriers to Succession
• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

Host John Haskell and co-host Alex McKiernan welcome back John Locke to discuss the distinctions between mission, vision, and purpose in both business and personal life to define your ranch legacy. They emphasize the importance of shared vision in driving decisions and actions, highlighting the ICA process, a four-step tool for defining and achieving vision, and stress the significance of emotional connection to goals. This conversation also touches on the challenges of change, the importance of defining wants over needs, and the role of values in guiding decisions.

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

In this episode, we cover:

• Defining mission, vision, and purpose
• The power of a shared mission and vision, and the importance of being emotionally connected
• The role of emotional investment and fulfillment, and the idea that wants are more important than needs
• Tools and processes for visioning and mission creation
• The importance of being open to new experiences, continuous revisioning, and the role of vision in guiding personal and professional growth

Connect with Connect with John:

• Follow on Facebook
• Send him an email at [email protected]

Connect with Alex:

• Follow on Instagram @robinettefarms
• Check out his website

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Episode 63. Mindset and Emotional Barriers to Succession
• 10x Is Easier Than 2x by Dan Sullivan
• Start With Why by Simon Sinek
• Find Your Why by Simon SInek, Peter Docker, and David Mead
• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

John Haskell and co-host Alex McKiernan welcome John Locke, a sixth-generation rancher and instructor at Ranching for Profit, to the podcast today to discuss mindset and emotional barriers to succession in ranching. John highlights the importance of understanding emotions and effective communication, citing the need for extreme ownership and intentional listening. He shares his personal experience with a challenging succession event and the value of defining a legacy beyond physical assets.

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

In this episode, we cover:

• Setting ourselves up for a successful succession event
• How fear is often the fundamental emotion that drives people away from conversations about succession planning
• Understanding your emotions to turn destructive communication into effective communication
• Practical tools for effective communication, including reflective listening and asking questions to understand

Connect with John:

• Follow on Facebook
• Send him an email at [email protected]

Connect with Alex:

• Follow on Instagram @robinettefarms
• Check out his website

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Extreme Ownership by Jocko Willink and Leif Babin
• 7 Habits Of Highly Effective People by Stephen R. Covey
• Leadership And Self-Deception by The Arbinger Institute
• Healthy Land, Happy Families and Profitable Businesses by David W Pratt
• Mindset Above All: Alex McKiernan's Resilient Journey Post-Accident (Part 1, Part 2, Part 3)
• Business Resiliency When the Unexpected Happens with Chloe Diegel (Part 1, Part 2, Part 3)
• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

Nic De Castro, Founder and CEO of LandTrust, is back on the podcast today with host John Haskell to talk all about LandTrust, a marketplace for outdoor recreation on private land. Nic shares who it's for, the symbiotic relationship between LandTrust and landowners, and the low-touch, high-control nature of the business and its potential to provide extra income. They also discuss the types of activities customers are seeking out on the platform and how LandTrust makes it safe and convenient for landowners by offering liability insurance, ID verification, and payment processing.

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

In this episode, we cover:

• What LandTrust is, who it's for, and what makes it work
• The benefits to the landowner for listing their property on LandTrust
• Going beyond hunting and the various activities customers seek out
• Liability insurance, maintaining control, and profit potential

Connect with Nic:

• Follow on Instagram @landtrust_hunt
• Check out his website
• Call LandTrust at 406-709-8450

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Episode 61. Entrepreneurship with Nic De Castro
• Episode 57. Financial Metrics To Focus On with Dr. David Kohl
• Episode 21. LandTrust with Taylor Moyer
• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

John Haskell hosts Nic De Castro from LandTrust in a discussion about entrepreneurship. Nic shares his unique background in technology, his early startup experiences, and his transition from New York City to Bozeman, Montana. He discusses his philosophy on what makes a business successful and the concept of hypotheses in business. Nic also highlights the challenges and opportunities in working with multi-generational farm and ranch families, stressing the need for progressive thinking and succession planning.

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

In this episode, we cover:

• The importance of hiring competent, motivated adults
• How a business is a test of whether a customer is willing to pay for a product or service
• The difference between marketing and sales
• The two-sided marketplace model of LandTrust and the challenges and observations in working with landowners
• The role of family dynamics in business decisions

Connect with Nic:

• Follow on Instagram @landtrust_hunt
• Check out his website

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

Bob Metzger is back on the podcast to discuss social dynamics, the challenges and opportunities in America, and the importance of deferred gratification and realistic expectations with host John Haskell. They talk about how, despite economic ups and downs, opportunities are abundant for those willing to work hard and manage their finances. Bob highlights the resilience of previous generations who succeeded by saving and making do, and shares his views on needs versus wants. They also touch on the success stories of immigrants who thrive in the U.S. due to its opportunities.

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

In this episode, we cover:

• Why it is no harder to get ahead in America today than it was in the past
• Delayed gratification and how expectations determine happiness
• The historical context of hardship and the relative ease of modern life compared to past generations
• The importance of balancing wants versus needs
• The opportunities available in the U.S., particularly for immigrants who come with nothing and succeed through hard work

Connect with Ranch Right:

• Superabundance
• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Episode 59. Opportunity Cost with Bob Metzger
• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

In this episode of Ranchonomics, host John Haskell sits down with expert Bob Metzger to delve into the critical concept of opportunity cost in relation to both short-term and long-term investments. They explore the importance of factoring in interest payments when making financial decisions, as well as the power of compounding interest in maximizing returns. Metzger emphasizes that adopting a long-term mindset is essential for sustained success in ranching, cautioning against the allure of short-term gains that may lead to significant losses. The discussion also touches on the current “all-time-high” market, prompting insightful reflections on whether or not now is an opportune time to invest. This episode is packed with actionable insights that empower ranchers to align daily operations with strategic financial thinking, steering the business from chaos to clarity.

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

In this episode, we cover:

• Opportunity cost as it relates to short term and long term investments
• Accounting for paying interest when evaluating the cost of a decision
• Considering compounding interest when evaluating return on investment
• Thoughts on the “all-time-high” cattle market and whether or not it's a good time to buy
• Examples of how short term mindsets may have big wins short term but will also have big losses
• How having a long-term mindset will win in the long term

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

Dr. David Kohl again joins host John Haskell to discuss the importance of a management mindset in farming and ranching operations. They discuss why, as a non-financial factor, having a strong management mindset matters and some tools you can apply to improve the various aspects of your business. Dr. Kohl highlights the significance of having a written business plan, setting specific, measurable, attainable, reasonable, and timely (SMART) goals, and regularly monitoring and adjusting plans based on changing conditions.

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

In this episode, we cover:

• Why the cranium is the "sixth C" in addition to the traditional five (cash flow, character, collateral, conditions, and capacity)
• Effectiveness over efficiency and the concept of being a "five percenter"
• Practical steps to start creating a business plan
• The importance of transition planning and giving up control
• Monitoring business plans and adjusting them based on changing conditions
• Sensitivity analysis and risk management

Connect with Dr. David Kohl:

• Follow on LinkedIn

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Episode 57. Financial Metrics To Focus On with Dr. David Kohl
• Episode 56. Commonalities of Successful Farmers & Ranchers with Dr. David Kohl
• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call

Dr. David Kohl is back on the podcast today to discuss key financial metrics for ranch operations. With his background in agriculture, finance, and entrepreneurship, Dr. Kohl shares why you should be paying attention to your net profit margin, debt coverage ratio, net operating income, working capital, operating expense revenue, and debt-to-asset ratio. Dr. Kohl and host John Haskell break down what these KPIs mean and what ratios and percentages to aim for. Dr. Kohl also emphasizes how, especially in agriculture, there is no one-size-fits-all approach when it comes to these financial factors and the importance of understanding how they all work together to create balance.

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

In this episode, we cover:

• Examples of non-financial factors that can impact credit
• What net profit margin is and what percentage to aspire to
• Breaking down debt coverage ratio, risk management, and net operating income
• The importance of knowing your working capital and aiming for at least 25%
• Operating expense revenue and debt-to-asset ratios
• Understanding how all of these KPIs work together to create balance and ensure overall financial health

Connect with Dr. David Kohl:

• Follow on LinkedIn

Connect with Ranch Right:

• Subscribe on YouTube 
• Follow on Instagram @ranchrightllc 
• Follow on Facebook 
• Check out the website

Resources & Links:

• Episode 56. Commonalities of Successful Farmers & Ranchers with Dr. David Kohl
• Book a Free Discovery Call to Learn More 
• Ranching for Profit 
• Ranching.FYI 
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

We work with producers on cash flow, risk management, and long-term financial strategy so the business stays resilient—no matter the market.

Book a free discovery call