With Dr. David Kohl, Professor Emeritus, Virginia Tech.
On a cold snowy day in Nebraska, a long-time producer was enjoying lunch with a group of FFA students. His pearl of wisdom defined the decade of the 2020s: in the previous century, production was the difference maker, but in the 2020s, your business and financial IQ will define your levels of profitability.
Economic volatility in extremes has resulted from weather, trade, supply and market chain issues, consumer trends, geopolitics, and even black swans, which will be a fact of life for the 2020s. Managing the controllables and managing around the uncontrollables, while thinking globally and bringing it down to the business level, will be imperative.
With more zeros and commas on the financial statements, a good, bad, or ugly decision can compound over time. Understanding what it takes to have a high business IQ, knowing key performance indicators (KPIs), being aware of trends, as well as peer benchmarking analysis will be best management practices in the agriculture industry.
Dr. Kohl, with his decades of experience in navigating many economic cycles, will share his knowledge and wisdom concerning the dollars and cents of agriculture. His practical tools, tips, and takeaways will provide a proactive approach to the art and science of managing the ag businesses in the 2020s.