I am always looking for a competitive advantage. Whether in ranching or in life, I want to be prepared, especially if it’s something I’m unfamiliar with.
Shane Parrish shared some thoughts on being prepared in his latest blog: “Someone always has an advantage. If you don’t know who, it isn’t you.”
Although somewhat comical, this should encourage us to be more prepared. I recently read “The Art of The Deal” about Donald Trump. This book was entertaining and easy to read. It also shared a little bit about strategy when negotiating big deals and helps explain some of our current events.
The main thing I took from this book was to be prepared. Have a plan and be willing to implement it. This means doing the research to know who is holding what cards.
This also means knowing your own situation. I can’t believe how many ranchers don’t have a budget, or don’t know how much capital they have or where they are financially. To be able to negotiate any deal, first, you have to know where you stand!
As things slow down this winter, spend some time planning. Know your unfair advantages and how to use them. You can’t take advantage of good deals if you are not prepared.