Like any other business have to keep up with education and have good employees.
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It’s often said that ranching is a lifestyle, but it’s much more than that. Without a business mindset ranch owners can struggle to turn a profit. This includes prioritizing resources on cattle operations and evaluating their interactions will help with business decisions.
According to Mississippi State University Extension Beef Cattle Specialist Jane Parish, human capital is one of the resources that should be considered top priority.
“People contribute expertise, skills, ideas, and effort to raising cattle,” Parish says. “Having access to great financial and physical resources can certainly provide advantages to an operation, but poor management of those resources by the people making and implementing the decisions will erode these other resources with little to show for it.”