As farmers prepare for a period of tighter margins, Mike Boehlje, a Purdue University ag economist, recommends 10 key principles to help you manage:
- Create value for your customer.
- Focus on strategy.
- Increase asset utilization (improve your asset turnover).
- Increase margins.
- Grow volume/sales.
- Manage money/capital.
- Use time efficiently.
- Manage operating risk.
- Get smart.
- Think like a CEO.
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