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sw ontario | Clay SEIA - 5/24/2020 00:18
"Financial inefficiency" is when you don't have enough monies to keep your bills current, you make decisions because you are forced to and not because you see opportunities or ideas and can write a check to make them happen, and you stare at the ceiling at 3am wondering how you are going to hold it together instead of sleeping soundly so that you can wake up and have a happy productive day. None of those things are symptoms of "too much working capital."
The idea that you must always have more of something, acres, cows, trucks, whatever or you are not succeeding is a fallacy.
100% correct ,especially your last line...We all want to 'grow' our farms ,but just being big doesn't = success......We had a chance to rent a relatives 400 acres and rent wasn't out of line compared to what some pay , but doing the path, the ground it looked like maybe chance to make $30 with good crops, average or below ,lose $50....And another farm we had just rented the previous yr, and had rented for 2020 the LL (a guy who bought it ,lives out of area) sends text saying "lotta interest in land, I got $350 acre cash rent offer, can u increase your price"....I just said no and in Feb. get text saying'gave you a chance , have a new tenant'.....I am hoping they pay for the fall tillage work as legally I still have it rented and its not planted yet......Yrs. ago when farms were smaller a started with nothing but ambition farmer told me u just go for a couple yrs. buying nothing but necessities, no new iron,ect. and u don't need the bank | |
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Nosy finance question
