Julie Davidson, an experienced insurance professional, joins host John Haskell on the podcast today to share her farm and ranch insurance insights and considerations for how to protect your ranch. Key insights include the importance of regular policy reviews, the pitfalls of outdated coverage, and the critical role of insurance scores in setting premiums. Julie also emphasizes the need for adequate liability insurance, including liability umbrella and premises policies, and explains the impact of claim frequency on insurance ratings.

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In this episode, we cover:

• The role of an insurance adjuster and their involvement during claims
• Challenges farmers face when switching agents or inheriting policies from previous generations
• Basic livestock insurance options, such as coverage for death loss on the road, and why you shouldn't rely solely on blanket coverage
• The necessity of maintaining adequate liability coverage to prevent severe financial consequences from lawsuits
• Several elements that influence insurance scores, such as claim frequency, credit score, and the frequency of changing insurance providers

Connect with Julie:

• Send her and email at juliedavidsonhccc@gmail.com

Connect with Ranch Right:

• Subscribe on YouTube
• Follow on Instagram @ranchrightllc
• Follow on Facebook
• Check out the website

Resources & Links:

• Book a Free Discovery Call to Learn More
• Ranching for Profit
• Ranching.FYI
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

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Alex McKiernan and John Locke are back with host John Haskell in this episode of the Ranchonomics podcast to discuss the concept of legacy in ranching. Building on the discussion from last week's episode about mission and vision, John Locke stresses that legacy begins with a vision and can be either a blessing or a burden, depending on how it's understood and managed. They share stories that illustrate the impact of past generations' decisions on future ones, emphasizing the need for reflective listening and intentional stewardship. This conversation also highlights the importance of creating value beyond financial assets, such as fostering innovation and community service, to ensure a sustainable legacy for future generations.

Make sure to hit subscribe/follow so you never miss an episode!

In this episode, we cover:

• The need to regularly revisit and adapt a business's mission and vision
• The importance of not letting past generations' expectations limit future generations
• Being good listeners and understanding the intentions behind past generations' decisions
• Creating value beyond assets and thinking about the long-term impact and how they can continue to provide value over multiple generations

Connect with John:

• Follow on Facebook
• Send him an email at johnclocke@hotmail.com

Connect with Alex:

• Follow on Instagram @robinettefarms
• Check out his website

Connect with Ranch Right:

• Subscribe on YouTube
• Follow on Instagram @ranchrightllc
• Follow on Facebook
• Check out the website

Resources & Links:

• What Would the Rockefellers Do? by Garrett B Gunderson
• Episode 64. Defining Your Ranch Legacy with Alex McKiernan and John Locke
• Episode 63. Mindset and Emotional Barriers to Succession
• Book a Free Discovery Call to Learn More
• Ranching for Profit
• Ranching.FYI
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

Helping ranchers to make better decisions faster. Check out our friends at Ranching.FYI by clicking the link below.

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Host John Haskell and co-host Alex McKiernan welcome back John Locke to discuss the distinctions between mission, vision, and purpose in both business and personal life to define your ranch legacy. They emphasize the importance of shared vision in driving decisions and actions, highlighting the ICA process, a four-step tool for defining and achieving vision, and stress the significance of emotional connection to goals. This conversation also touches on the challenges of change, the importance of defining wants over needs, and the role of values in guiding decisions.

Make sure to hit subscribe/follow so you never miss an episode!

In this episode, we cover:

• Defining mission, vision, and purpose
• The power of a shared mission and vision, and the importance of being emotionally connected
• The role of emotional investment and fulfillment, and the idea that wants are more important than needs
• Tools and processes for visioning and mission creation
• The importance of being open to new experiences, continuous revisioning, and the role of vision in guiding personal and professional growth

Connect with Connect with John:

• Follow on Facebook
• Send him an email at johnclocke@hotmail.com

Connect with Alex:

• Follow on Instagram @robinettefarms
• Check out his website

Connect with Ranch Right:

• Subscribe on YouTube
• Follow on Instagram @ranchrightllc
• Follow on Facebook
• Check out the website

Resources & Links:

• Episode 63. Mindset and Emotional Barriers to Succession
• 10x Is Easier Than 2x by Dan Sullivan
• Start With Why by Simon Sinek
• Find Your Why by Simon SInek, Peter Docker, and David Mead
• Book a Free Discovery Call to Learn More
• Ranching for Profit
• Ranching.FYI
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

Know your numbers and win. Ranch Right is here to help with all of your financial needs. Click below to book a discovery call...