The Profitable Horseman's Newsletter The only weekly electronic newsletter published for Professional Horsemen.
March 30, 2007

Are you tired of trying to make money in the horse business the old way? I help professional horsemen find new and better methods to add to the profitability of their businesses.
Welcome New Subscribers!

in this issue
  • Want to Transform Your Horse Business with More Profit and better balance between work, rest & play?
  • The Purpose of Your Horse Business
  • Others have said
  • Back at the Barn
  • Build the Horse Business You've Always Wanted
  • Speaking about the Horse Business...

  • The Purpose of Your Horse Business

    If you had a quiet moment in your busy day, and were asked the question, “What is the purpose of your horse business?”, how would you answer?

    Some of the potential answers that may flow through your mind may include:

    • I teach students how to be better riders.
    • I train horses to be the best they can be.
    • I provide a healthy and happy environment for boarded horses and their owners.

    There is nothing wrong with any of the above or similar answers. All are related to the purpose of your horse business.

    But, isn’t the answer to What is the purpose of your business?:

    To Make A Profit.

    Think about it for a minute. Recognizing your primary vision and purpose may include many business operations like instructing, training horses, selling horses and personal things like daily happiness in what you do, a balanced life and lifelong learning, the key purpose of any business is to make a profit.

    Sometimes when business owners are working in an occupation where they love what they do, they feel guilty getting paid for what they love doing.

    It’s silly, but this guilt may come from deeply instilled feelings like work is supposed to be hard and that is what we get paid for: working hard. Therefore, if your work is what you love doing, how can it be work and why would you deserve to make a fair profit?

    Here is why you deserve to make a fair profit:

    Right or wrong, your business operation’s monetary success is one of the key measures of your business’s value and your personal contribution to clients and the horse industry.

    If you don’t feel good about your financial success, you will begin to question the success of everything you do professionally and the success of your life personally.

    Am I suggesting it’s all about money and you should raise prices and get every dollar you can out of your customers?

    No way.

    What I’d like you to do is analyze your business income and expenses and understand the relationship between what you charge and what it costs to produce.

    As you discover the parts of your business that are losing money or are marginally profitable, your choices are

    1. reduce expenses for that enterprise
    2. raise rates for that enterprise
    3. do both 1 and 2
    4. rethink and restructure the enterprise (as an example, specialize in group lessons for youth riders)
    5. Stop doing that enterprise (as an example, hauling horses for others)

    When you first opened or bought your own horse business, you experienced a wonderful feeling of accomplishment. Knowing that your business is profitable and sustainable will keep that feeling of accomplishment growing from year to year.

    Others have said

    "Power consists in one's capacity to link his will with the purpose of others, to lead by reason and a gift of cooperation" -- Woodrow Wilson

    "The secret of success is constancy of purpose." -- Benjamin Disraeli

    "The very purpose of existence is to reconcile the glowing opinion we have of ourselves with the appalling things that other people think about us." -- Quentin Crisp

    Back at the Barn

    A few days ago, we watched the DVD of The Secret, a movie you may have heard about. If you have already seen it, you probably said the same thing we did at the end, “everybody knows that.”

    All about the law of attraction, the movie gives great perspective on positive thought vs. negative thought and the need to ignore the “how part” of your goals for a while. “Thumbs up” review from critic’s chair.

    We renewed our stash of pure maple syrup last week. A local producer makes perfect maple syrup, nature’s best spring tonic. If you haven’t had any of the “real” stuff lately, get some. Sunday morning pancakes with maple syrup is a great way to start the day.

    Build the Horse Business You've Always Wanted

    I work with Professional Horsemen who are struggling with the business half of the horse business.

    Just like a top performing horse has a strong foundation, so does a top performing horse business.

    If you've had enough with disappointment in your horse business, call or e-mail and we can talk about your business and how I may be able to help you.

    A big Welcome to new subscribers this week. If you know other horsemen who would enjoy this newsletter, please forward it to them!

    I appreciate your help !


    Speaking about the Horse Business...
    megaphone man

    Need a speaker about the horse business for your horse related organization? Talk to me about talking. Keynotes and workshops available. (716) 434-5371

    Want to Transform Your Horse Business with More Profit and better balance between work, rest & play?
    istock classroom

    A one day Profitable Horseman workshop can come to your neighborhood! Put together a group of six or more workshop attendees and I'll travel to your location.

    We'll cover strategies for success in the horse business:

    • Creating a three year vision for your business
    • Building a plan for profitability and getting contol of the money
    • Planning the time to plan
    • Leadership within you business
    • Creating customer service
    • The art of selling
    • Marketing methodically
    • Balancing work, rest and play

    Sound like a good idea?

    Ideas only work when put into action.

    Call (716) 434-5371 or email here.

    Click on the links below for more information

    Profitable Horseman Web Page

    Past issues of Profitable Horseman newsletter

    Professional Horsemen's Blog- More Free Business Tips Click on the link.

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