How Do You Win In Tough Times Webinar, January 23, 2015 How Do You Win In Tough Times? Michael Boehlje, Dis:nguished Professor & Extension Economist Michael Langemeier, Professor & Associate Center Director Bruce Erickson, Agronomy Educa:on Distance & Outreach Director James Mintert, Professor & Center Director
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How Do You Win In Tough Times Purdue Center for Commercial … · 2015-05-12 · How$Do$You$Win$In$Tough$Times$Webinar,$January$23,$2015$ The$Fundamental$Premise$ Be$BestInClass!
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How Do You Win In Tough Times Webinar, January 23, 2015
How Do You Win In Tough Times?
Michael Boehlje, Dis:nguished Professor & Extension Economist
Michael Langemeier, Professor & Associate Center Director
Bruce Erickson, Agronomy Educa:on Distance & Outreach Director
James Mintert, Professor & Center Director
How Do You Win In Tough Times Webinar, January 23, 2015
Improving Your Farm’s Management 5 Management Strategy Categories to Consider
ü Financial
ü Input Purchasing
ü ExecuEon
ü MarkeEng Strategies
ü Government Programs & Crop Insurance
Becoming Best in Class!
How Do You Win In Tough Times Webinar, January 23, 2015
The Fundamental Premise
Be Best In Class!
• Well beyond being a low cost producer
• What is your class/your strategy
How Do You Win In Tough Times Webinar, January 23, 2015
What is Your Strategy? • Low cost
• your job every day in a commodity industry
• Customer centric • ask what your buyer wants… Services?
• Innovator/first mover • new products/markets/services/business models
How Do You Win In Tough Times Webinar, January 23, 2015
Elements of Best in Class 1. Intense Cost Control -‐ efficiency/producEvity is criEcal -‐ know your cost components per bushel 2. Margin Management -‐ know your producEon costs -‐ know your margins