We’re unlocking the mystery of Top Producer of the Year winners, hoping you’ll find useful tips for your farm. Marty Klinker, the 2001 winner, shares what he knows now that he wishes he knew 30 years ago.
When Marty Klinker was named the first Top Producer of the Year, he was not yet 40—young enough to have ambitious goals and old enough to know it would take a strong business plan to reach them. One was to have $1 million of structured debt by the time he was 30, so he would be worth more than $1 million when he turned 50. "Everything I had needed to be an income-producing asset," he says. "I wasn’t afraid of debt, and I’m not now, either."
Managerial Accounting Workshop in July
To help farmers determine which entities within their business are or are not carrying their weight, Top Producer is once again teaming up with Texas A&M University to host its second Managerial Accounting workshop, July 7 to 8 at the Hilton Rosemont/O’Hare hotel in Chicago.
Managerial accounting breaks out costs and returns of various segments in a business. Farm business consultant Dick Wittman will lead farmers through the two-day course. To register for the event, contact Texas A&M’s Danny Klinefelter at (979) 845-7171 or firstname.lastname@example.org
. For hotel reservations, call (888) 452-6943 and reference group code "TEF."
Correction: Right Table, Wrong Numbers
In the March issue, the table on page 28, "Know When to Let Go," contains two inaccurate numbers. The "available for rent" amounts should be $280 for corn and $230 for soybeans, not $11.94 and $8.48 respectively, as stated. Top Producer apologizes for this mistake.
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- April 2014