It was a little warm this year, but we enjoyed another couple of days in Wisner, Nebraska at Thunder By The River.  We had a chance to visit with a lot of our good Nebraska clients, including Scott Krusemark who works hard at this event, along with a lot of Wisner's business leaders.

Sam and Aaron, on the track                       Sam and Aaron with Scott Krusemark

Hanging with The Intimidator                     An interview with the track announcer

The markets have been a little wild lately...enough to give any farmer a little indigestion.  But if you have a plan and stick to it, it's easier.  Back in March we talked about building a strategy around a good understanding of your numbers.  Today KRVN's Ken Rahjes checks back in with Water Street Solutions Market Advisor Chip Nellinger for an update.

August 16 2010 Staying on Strategy - Nellinger.mp3 (1.35 mb)

Do you ever feel like some elements of marketing your crops or livestock are a little too risky for your comfort level?  If that's the case - it probably has a lot to do with what you know.  Water Street Solutions' President and CEO Darren Frye talks with KRVN's Ken Rahjes about the difference between hedging and speculating.

July 26 2010 Taking the Gamble Out of Marketing Tools - Frye.mp3 (2.75 mb)

It's amazing the correlation between successful people and those who have been able to take their mistakes and turn them into something positive.  In this interview, Water Street Solutions' Director of Development Dean Heffta talks through the process of making mistakes into a growth opportunity.  He shares with KRVN's Ken Rahjes seven key points around learning from our mistakes.  And the last one's a really good one.

July 19 2010 Learning From Our Mistakes - Heffta.mp3 (5.05 mb)

You have a lot of decisions to make on the farm, and some of those decisions are made by default as you run out of time before the next season.  Many times the timeline is set by others.  Imagine what would happen if you created the timeline by working ahead and being strategic about your farm - instead of being reactionary.  Water Street Solutions' Director of Development Dean Heffta talks about this topic with KRVN's Ken Rahjes.     

July 12 2010 Changing Your Decision Cycle for Better Strategy - Heffta.mp3 (3.39 mb)

Profitable farming requires keeping a close eye on your financial metrics.  Return on Equity is a number that your banker is going to pay attention to.  Here Darren Frye, President and CEO of Water Street Solutions talks about this metric, and when it's a better number to watch.

For the text of the video, click here:  Understanding Return on Equity

You can see progress in the field throughout the growing season - but when it comes to the business part of farming, that's sometimes a little harder to measure -- unless you're getting a report card.  Darren Frye, President and CEO of Water Street Solutions talk here with KRVN's Ken Rahjes about what's on this "financial report card" and how to use it in propelling your business to the next level.

June 21 2010 The Importance of a Report Card.mp3 (5.14 mb)

For the text of the interview, click here:  The Importance of a Report Card

A panel at the Commodity Classic in March talked about Controlling What You Can Control with regard to the financial aspects of your farm.  At the end, Max Armstrong asked members for their best advice.  Click on this link to the video.  This video is 6 minutes long -- and the discussions are around using the financial tools available -- but understanding those tools first.  Learning, understanding and reflecting was another focus.  And there's some discussion here about the importance of succession planning.       

Farm profitability comes down to discipline with financial metrics.  It's critical that you're watching the right numbers.  This video, shot from a panel discussion at Commodity Classic in March focuses on the importance of working capital as opposed to net worth.  Click here to watch.  It's six and a half minutes long.    

You've heard that you can leverage your crop insurance with your marketing strategy.  But how does that work exactly?  Today we're sharing an in-depth explanation of how that works in bull and bear market years.  Keep in mind this was recorded in early March -- but the lesson's a good one.  Click here to watch the video.  It'll take a little over ten minutes of your day.