You won’t see “Poor Management” as a line item on a balance sheet, but you’ll sure see its effects: lower revenue, higher costs, more unplanned-for expenses and issues, and opportunities missed.

More than 90 percent of farms and ranches in the United States are family-owned. Does this matter?

Lots of ranches function just fine. Fences are okay, cattle are fed, employees are working. And for some, that’s good enough.