Twelve Steps to Avoid Being a Marketing Lemming
I came across a good marketing company be watching Agday the other day. Alan Brugler was discussing the corn and bean market and I decided to go check out his web site. He is located in Omaha, Nebraska and has a very good short guide on how not to be a marketing lemming.
I will highlight the 12 steps to not becomming one and you can read the full article to get more details. The twelve steps are:
- Find a method that works for you and stick with it.
- Don’t gather data that inevitable contradicts.
- Remember that the market satisfies need, not greed.
- Don’t demand consistently high returns.
- Beware of your success threshold.
- Make your own final decisions.
- Isolate emotion from order time.
- Don’t argue your position with friends.
- Avoid highly leveraged positions.
- Remember that your current market position is never perfect.
- It doesn’t matter why, it matters which way.
- Make marketing a habit.
I would strongly suggest reading this memo several times and try to determine where your marketing strategies fit within this. Remember that a lemming only goes one way eventually and that is down.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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