Are Thief Horses Eating Your Profits?
|
At some point, all professional horsemen realize that
they can't keep every good horse that walks into the
barn. Buying and selling horses is part of the business.
Becoming fond of your horses is a terrific benefit of
being in the horse business. It is also a financial tie
down that can ruin your business. The profitable
horseman understands the horses in his or her barn
are assets; they aren't pets.
A horse is either appreciating in value or depreciating
in value.
As an asset, a horse is generating income as:
- a lesson horse
- a leased horse
- brood mare
- stallion
- inventory for sale
- rental for hire for ride or drive
If not, the horse
becomes a financial dependent on your business's
welfare roll.
Not only is it an operating expense, it is also an
opportunity cost. Think about it, if a horse occupies
a stall and generates no income or has little or no
potential for future income, it is a thief
horse.
Unlike a horse thief, a thief horse
steals your potential to earn profit from the
space and resources it occupies. That stall could be
used for:
Boarding
Horse for training
Lesson Horse
Brood Mare
A speculation horse "bought right"
An empty stall for attracting the next
opportunity
In economic terms, there is an opportunity cost
for every decision you make in your equine
business. An opportunity cost is defined as the
cost of something in terms of an opportunity
foregone.
Every fork in the road you come upon
requires a choice. The road you choose is the path
you follow.
The road not taken is your opportunity
cost since you cannot travel two paths at the same
time. Choosing the more profitable path that fits your
business vision is the choice to make every time.
This week's tip is to consider whether or not you
have any "thief horses" in your barn and if you do,
how to find a new home for them.
The horse
business is just like any other business in that assets
have to directly or indirectly contribute to producing revenue. If your assets are non-
producing, then it's up to you to make changes.
|
| Others Have Said |
"Concentration is my motto - first honesty, then
industry, then concentration." -- Andrew Carnegie
"Your most precious possession is not your financial
assets. Your most precious possession is the people
you have working there, and what they carry around
in their heads, and their ability to work together." --
Robert Reich
"Let me tell you the secret that has led me to my
goal. My strength lies solely in my tenacity." --
Louis Pasteur
|
|
|
Have Voice, Will Travel.  I'm speaking at The Syracuse, NY Sporthorse Invitational at its Equinomics Seminar on Thursday Morning, October 29th 2009.
The title of my talk is:
Top 5 Reasons Why Professional Horsemen Go Broke and What To Do About It.
For More Info Click Here
I'd like your help with my goal of
helping 10,000 horsemen in the next ten years become profitable horsemen. I'm
looking for public speaking opportunities to associations, groups, councils and
businesses to tell the story about success in the horse business.
Please contact me about your group's event,
the subject and the possibilities.
E-mail me here or call me (716) 434-5371.
|
| Back At The Barn
|
 Our farm has a few apple trees still standing from its prior use as a fruit orchard over 75 years ago. The ever growing deer population is enjoying the ripe apple crop as it drops one by one to the ground from Mother Nature's free vending machine.
On my trips out back to spread manure, I've watched the deer herd over the entire summer. They pay little attention to me while I'm on the tractor. Two fawns, three does and a buck and I are now good friends as they watch me watch them from the tractor seat. They are bold and walk toward me out of curiosity.
Earlier this week, the deer and I watched the resident red fox dash through the field they were grazing in.
I'm hoping the wise red fox has had a talk with the deer about hunter's fondness for apple fed venison.
|
Announcing: Profitable Horseman Teams Up With Equine Genie Horse Management Software
|
I didn't need an anvil to drop on my head to get me to recognize that Bob Valentine, Ph.D, the creator of equine Genie software, had produced a true management
software for equine businesses.
I'm now working with Bob to get the word out about this powerful management tool unlike any other software on the market for horsemen. It's a complete financial and horse management program.
And, it's so easy to use, even I can do it!
equineGenie is the
first of several equine management products that will get horse business people
away from their computers and into their businesses assisting them in doing:
- the
right things
- at the right time
- for the right reasons
equineGenie helps you manage your time conserve your cash, and improve the bottom line as you grow your
business.
Nothing falls through the
cracks when equineGenie is your Assistant Manager, Personal Assistant and
Financial Analyst. Let me demonstrate to you, via a private webinar from your computer in the comfort of your office how this software is one tool you can't afford not to have!
E-mail me here: doug@ProfitableHorseman.com And we'll get you scheduled for a live webinar demonstration of the software and specific tips for your business on how you can put it into action immediately for a more profitable business.
|
|
I help professional horsemen and horsewomen struggling with the business half of the horse business.
Not enough time, not enough money or not enough of the right people working for you?
Is your horse boarding business unprofitable?
Contact me to see if I can help.
Until next time,
Doug
Doug Emerson
Profitable Horseman  |
|
|
|
