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.

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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:

Helping ranchers to make better decisions faster. Check out our friends at Ranching.FYI by clicking the link below.

Ranching.FYI

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:

Know your numbers and win. Ranch Right is here to help with all of your financial needs. Click below to book a discovery call today.

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:

Meet Right is here to help take your ranch meetings to the next level. From husband and wife teams to full time employees, everyone can benefit from getting your meetings right. Click below to buy the course now.

Meet Right