Living the Dream
05/27/2021
In these times of uncertainty, the difficulties and anxieties one experiences in trying to make sound investment decisions grows daily. Indeed, it has always been difficult and leaves one to constantly second guessing and fretful for the future.
Now, most people do make their own mistakes, independent of anyone to whom they may wish to shift the blame for poor decisions. Thinking we can get a little better yield here versus there, we jump at the shiny ring. All that glitters is not gold.
In the case of asset allocation decisions, choosing the best investments based on the risk/reward curve, a baseball analogy is usually the best I can offer. One must assess the field of play, the pitch count and determine each situation at that moment. Hitting singles and doubles, getting some runs batted in, and sacrifice flies occasionally get runs across the plate. An occasional home run gets the satisfaction and confidence levels up and puts some fun and excitement in the game. Good defense is necessary as well. Pitching and fielding are needed to shut down any threats coming our way from the market and other sources that would derail or negate our progress in getting runs on the board.
Good, solid, steady play on both sides of the ball will get more wins on the scorecard than swinging for the bleachers every at-bat.
Whether chasing the top of the commodity markets, shopping the lowest cost products and services, or seeking the lowest interest rates and fees on loan products, one should be mindful of the long view, the big picture. Know your cost of production. Have a solid understanding of your financial situation. One certainly needs to shop with a sharp pencil and have the mindset of an informed buyer. Loyalty to suppliers with whom one has traded over many years is commendable and should not be discounted. Reckless, impulse purchasing, though, can undo a lot of progress. Doing something because that’s the way we’ve always done it is a recipe for mediocrity. One “aw-shucks” can kill a hundred “Atta-Boys”.
Building upon your financial foundation is an everyday focus, whether it’s our business or our personal situation. We have to get through the short term to get to the long term. It’s a practice and a discipline on which we all must focus.
The office chair is equally as important as the tractor seat. The boardroom is equally as important as the milking parlor. Are all positions filled? Who is in which position to maximize their skill potential and the overall health, viability and success of the farm business? Like the team manager, when do you bring in a relief pitcher or substitute a designated hitter in certain situations?
An independent consultant brought in for a specific task or project on a specified timeline can be beneficial and cost-effective. Build your team with employees and independent consultants to accomplish strategic planning, goal-setting, team building and timely implementation of work plans, procedures and processes.
Pete Weisenberger
Weisenberger Agricultural Services, LLC
pete.weis0956@gmail.com
In these times of uncertainty, the difficulties and anxieties one experiences in trying to make sound investment decisions grows daily. Indeed, it has always been difficult and leaves one to constantly second guessing and fretful for the future.
Now, most people do make their own mistakes, independent of anyone to whom they may wish to shift the blame for poor decisions. Thinking we can get a little better yield here versus there, we jump at the shiny ring. All that glitters is not gold.
In the case of asset allocation decisions, choosing the best investments based on the risk/reward curve, a baseball analogy is usually the best I can offer. One must assess the field of play, the pitch count and determine each situation at that moment. Hitting singles and doubles, getting some runs batted in, and sacrifice flies occasionally get runs across the plate. An occasional home run gets the satisfaction and confidence levels up and puts some fun and excitement in the game. Good defense is necessary as well. Pitching and fielding are needed to shut down any threats coming our way from the market and other sources that would derail or negate our progress in getting runs on the board.
Good, solid, steady play on both sides of the ball will get more wins on the scorecard than swinging for the bleachers every at-bat.
Whether chasing the top of the commodity markets, shopping the lowest cost products and services, or seeking the lowest interest rates and fees on loan products, one should be mindful of the long view, the big picture. Know your cost of production. Have a solid understanding of your financial situation. One certainly needs to shop with a sharp pencil and have the mindset of an informed buyer. Loyalty to suppliers with whom one has traded over many years is commendable and should not be discounted. Reckless, impulse purchasing, though, can undo a lot of progress. Doing something because that’s the way we’ve always done it is a recipe for mediocrity. One “aw-shucks” can kill a hundred “Atta-Boys”.
Building upon your financial foundation is an everyday focus, whether it’s our business or our personal situation. We have to get through the short term to get to the long term. It’s a practice and a discipline on which we all must focus.
The office chair is equally as important as the tractor seat. The boardroom is equally as important as the milking parlor. Are all positions filled? Who is in which position to maximize their skill potential and the overall health, viability and success of the farm business? Like the team manager, when do you bring in a relief pitcher or substitute a designated hitter in certain situations?
An independent consultant brought in for a specific task or project on a specified timeline can be beneficial and cost-effective. Build your team with employees and independent consultants to accomplish strategic planning, goal-setting, team building and timely implementation of work plans, procedures and processes.
Pete Weisenberger
Weisenberger Agricultural Services, LLC
pete.weis0956@gmail.com
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