That means making the effort to put records together, preparing financial statements and preparing a business plan, especially if the producer is looking at a new enterprise.

We saw a financial disaster in agriculture in the early 1980s as a result of inflated farmland values and the increased borrowing on those values. When the bottom dropped out of the farmland market, we saw loans called in and foreclosures to cover those loans.

This is an opportunity for Missouri producers concerned about the various risks they face each day to learn about and how to use some of the basic tools to manage those risks.

It is never too early or too late for a producer to consider putting together a good set of records and the accompanying financial statements, and maintaining those records from year to year.

We didn't lose because of a lack of effort, that's for sure. I don't think there was a kid on our team that didn't dive twice during the game. We had a plan and stuck to it. We felt we could win and we came as close as you can without winning.

It requires effort, though. It's not what I call a 'get-rich-quick'-type of business. It can be profitable as long as you run it correctly.