This week, my friend Jordan Green ran a poll asking his producer-focused facebook group if they believe that 2021 will be more challenging to generate profit, vs 2020. Below is a screenshot of the results:
...psst, if you're not already in Jordan's group, it's over 25k members strong and you can join at Farmbuilder Entrepreneurs! It's a great network.
Over 80% of participants agreed that 2021 will prove more challenging on the bottom line.
The comment section was full of valid concerns regarding rising costs for equipment, supplies, and labor while also managing a revenue slump compared with 2020.
Now, this is not a doomsday episode...
I believe the long-term future has a TON of upside for DTC suppliers... But, I do want to address the fact that many of us may be caught in a season that is difficult to produce ideal year-end results.
Right now, good planning is crucial to avoid major setbacks.
So today, Blaine and I wanted to give you a very simple formula for creating a plan for profit that we picked up from the crew at Ranching for Profit.
The material is timely, timeless, and it works for every type of business. I hope it serves you as well as it has us!
Today will actually be the first of a 4-part series on this concept because it's is so important to get this right.
This episode will be a thorough concept overview, and in future weeks we'll dig deeper into the three levers that makeup the full formula.
After the series, you'll be equipped with the knowledge to manage the future with greater clarity and confidence!