Virginia Tech academic Dr. David Kohl joins host John Haskell on the podcast today to discuss key factors and commonalities for successful farmers and ranchers. He emphasizes the importance of developing a monthly or quarterly cash flow plan, which he refers to as the REM factor (respond, execute, monitor), as well as regenerative practices for both resources and personal well-being. He highlights the significance of setting goals, introduces the 60-30-10 principle in finance, and the necessity of a risk management plan and community investment.Make sure to hit subscribe/follow so you never miss an episode! In this episode, we cover:Dr. Kohl's extensive experience both in academia and running a 25-year-old cow-calf hay operation and dairy creameryTaking ownership of numbers, developing a cash flow plan, and understanding the operational planThe dangers of lifestyle creep and the importance of allocating time and resources effectivelyThe need for age-friendly livestock systems and prioritizing mental, physical, and spiritual healthThe importance of having a risk management plan, including crop and livestock insurance, and investing back into the communityConnect with Dr. David Kohl:Follow on LinkedInConnect 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:Knowledge shared is knowledge gained. Join our friends at Ranching.FYI on their new ranching forums. Click below.RFYI Forums

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