Episode 85
E85 | Breaking Down Profitability: What Every Farmer Needs to Know
September 23, 202535m 54s
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Show Notes
Episode Summary
This week on the podcast, I dive into profitability!I talk why now—before harvest kicks into full swing—is the ideal time to evaluate your numbers, build crop plans for next season, and get clear on what's truly profitable in your operation.
In this week's episode on profitability:
- Why profitability is more than just having cash in the bank
- The difference between cash vs. accrual accounting—and why both matter
- What bankers really want to see (and why) when you sit down for a line of credit renewal
- The critical role of actuals, projections, and cost of production in decision-making
- A practical breakdown of variable vs. fixed expenses and how to calculate your true cost per acre
Resources & Links:
- To learn more about how I can help you achieve financial clarity and confidence through essential tools and systems, check out my free training here!
Connect with Garrett:
- Follow on Instagram - @garrettruskamp
- Follow on Facebook - Garrett Ruskamp
- Follow on TikTok - @garrettruskamp
- Learn more about Pioneer Farmer here!
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