Turning a Livestock Operation into a Profitable Business – First Steps

March 15 is the day that business taxes are due. I don't know why it's a month earlier than regular taxes, but ever since I started running On Pasture as though it were a business, I've learned a lot about that kind of thing. There's so much to know, and as Dave Pratt says here, knowing how to raise livestock is not the same thing as knowing how to run a business that raises livestock. We may not want to learn about the business end, but if we don't, we face burnout from too much work, or we don't make money and we don't get to raise livestock anymore. A great a first step to creating a profitable business is this 5:17 video. In it, Dave identifies the difference between a "job" and a "business," so we have some markers to compare what we're doing against. He describes the difference between economics ("Can I do it?") and finance ("Should I do it?"). I've found it very helpful as I think about what we do here at On Pasture as well. It's not easy to think about, but it's important, not just to each of us personally, but to the wider community that relies on us for food and ecosystem services. So, take a few minutes to watch the video or read the transcript. Then, if you're interested in more, I've included some resources at the end of the article that can help you take next steps. Enjoy! https://youtu.be/7JLcIBWJCaA Transcript Hi my name's Dave Pratt. I run the ranching for profit school and our alumni program Executive Link. [Editor note: Dave has since retired fro

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