If you think you’re the smartest person in the room, then it’s probably time you changed rooms. No one is so smart that there's nothing more to learn, and if you want to be successful, follow the paths those that are. Don’t be the fth wheel on a four-wheel trailer. Pay close attention to those who are “getting it right” and emulate them to increase your chances of being successful:
- Watch the guy that is winning and try to imitate how he shows his animal.
- Watch the guy who has the high selling animal in the auction.
- Pay attention to the condition of his animal; see the quality of the animal and try to duplicate it.
- Pay attention to the breed that always seems to top the market.
- Watch where the successful man sells his livestock.
- Watch what the successful man does to prepare his livestock for market.
- Pay attention to his marketing strategy.
- Study his market plan before putting a marketing plan of your own together.
- Find out who these successful people are and why.
- Know how to recognize value.
- Sort for market performance.
- Know how to determine grade.
- Recognize the value and determination of cutability.
- The smartest people you know are those you are selling to–duplicate their knowledge and effort.
Knowledge is money when it comes to selling livestock. And if you think you already know it all, stop reading right now. If you’re ready to admit that you have a lot to learn, attend one of our livestock marketing seminars. We will open your eyes, and for many it will put as much as an extra $100/head in your pocket.
If you want to emulate the best, then you have to learn from the best. Don’t be afraid to ask why you’re not getting along as well as the next guy – ask yourself what you can do to get at his level of expertise.
The most important decision you make, will be about marketing–yet, it is probably the subject you know the least about. I’ve never met anyone who has taken a livestock-marketing course in college, or anywhere else. I’ve met many outstanding producers that can talk your leg off about nutrition and genetics, but their vocabulary really begins to shrink when you start talking marketing.
For some, being a good marketer is topping the market. For others, it’s a matter of convenience or relationships, for which I tell them they can conveniently be driven to the poor house while topping the market.
Topping the market for all the wrong reasons can break you faster than being at the bottom of the rung for all the right reasons.
If you’re out of sync with the market, selling without price protection, or selling to an incompatible market, you may get the best price at the moment, but the moment may represent the worst possible time scenario. As is true of most things in life, timing is everything: The best at the worst possible time won’t compare with the worst at the best possible time.
Case in point: Being at the bottom of an up market, will net you more dollars than being at the top of a down market. The way to cash in on a market is to have a market plan in place that will guarantee you a pro t and protect you from losses. This has nothing to do with topping the market or feeding your ego, but it has everything to do with making money. Don’t invest your rst dollar until you have such a plan in place.
Those who think they know it all and try to prove it by topping the market are those who should “change rooms” and begin emulating those that are making all the money.
It doesn’t cost more to do it right, but it can cost you the ranch if you do it wrong. It you’re so short sighted that you can’t see beyond the top, then perhaps we should get acquainted. Our livestock marketing seminar rooms are full of people who thought they were the smartest one in the room. That was until they started looking around at those who were more successful, sitting there in one of our seminar rooms learning how to make more money.
Changing rooms may be the smartest thing you’ll ever do. Just ask Kevin Bottke, who kept changing rooms until he came up with Pork Texas (www.porktexas.com) the newest, hottest concept in the pork industry.
Knightro has contracted the professional services of Mr. Gunter Hess to assist the readers of the KNIGHTRO REPORT in obtaining access to any and all Knightro livestock marketing services. He can be contacted via email at [email protected], or call 970-290-3278 in Evans, CO. Connect with him on LinkedIn.
Related: Keep On Moving: When One Door Closes, Another One Opens
(Editor's Note: For more in-depth information regarding the topics that have been touched upon in this report, Knightro conducts livestock marketing seminars on a regular basis. To schedule a seminar, auction, judging, or speaking engagement, please contact Ken Knight, Knightro, call or fax 715-262-8480; e-mail [email protected], or write him at: Ken Knight, Knightro Report, 136 Hillridge CT, Prescott, WI 54021.)