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Articles by Kim Schmidt

Special Report

Turning Your Dealership Around

From not managing used equipment inventories to an over extended dealer-principal, industry experts cite areas that can lead to a dealer’s underperformance. Recognize the warning signs, and you can turn things around.
By Kim Schmidt posted on December 24, 2016 | Posted in Best Practices, Operations & Finance, Department Management
The ag economy is cyclical, as everyone knows, and operating a dealership through the trough period of the cycle isn’t a new challenge. But for the younger generation of dealer management, it’s not a challenge they’ve faced until now.
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Using Technology to Better Serve Your Customers [Webinar]

By Kim Schmidt posted on November 29, 2016 | Posted in Best Practices, Operations & Finance
In this webinar, we dug into how you can use technology as an accelerator and how different tactics and tools are needed to reach your changing customer demographic. As those customers change, you need to adapt your marketing strategy. During the presentation, Anne Salemo addressed different approaches to take for Baby Boomers, Generation X and Millennials. [To view any of our webinar replays, you must be logged in with a free user account.]
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WEDA Dealer Institute

Digging into the 2016 Cost of Doing Business Study [Webinar]

By Kim Schmidt posted on November 10, 2016 | Posted in Operations & Finance
The Cost of Doing Business study is one of the industry's most valued publications and is currently prepared and published by the Western Equipment Dealers Assn.. The annual study is broken down by dealer type (agricultural, industrial, and outdoor power) and encompasses 14 important financial and operating ratios of North America's equipment dealers. Learn more about this important tool and hear industry experts provide insight about trends impacting equipment dealers across North America. This FREE webinar is brought to you by the WEDA Dealer Institute. [To view any of our webinar replays, you must be logged in with a free user account.]
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K•Coe Isom

Making your Buy-Sell Agreement Relevant in Today’s Dealership Economy [Webinar]

By Kim Schmidt posted on October 26, 2016 | Posted in Dealer Succession
If you are in business as a dealership, it should be a safe assumption that you have a Buy-Sell Agreement. But, has your Buy-Sell Agreement been stress-tested as much as your dealership has in the last few years? In this webinar, expert consultants in the farm equipment dealership industry, Cole Baker and Marc Johnson, shared their insights in assisting dealerships to update their agreements. This FREE webinar was brought to you by K•Coe Isom. [To view any of our webinar replays, you must be logged in with a free user account.]
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Dealers on the Move

From Acquisition to Fully Integrated

Birkey’s Farm Store added 5 new stores to its dealership group recently and is now going through the process of integrating the new locations.
By Kim Schmidt posted on October 24, 2016 | Posted in Dealers on the Move
In mid-August, Birkey’s Farm Store, a Case IH dealer with locations in Illinois and Indiana, acquired Farm Pride, which had stores in Arthur, Shelbyville, Casey, Newton, and Mattoon, Ill. The acquisition took Birkey’s total stores to 16. 
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Growing the Business Through Financial Literacy

Jenner Ag plays the Great Game of Business and practices open book management to move the business forward, while also providing its employees with a financial education.
By Kim Schmidt posted on October 15, 2016 | Posted in Best Practices, Operations & Finance, Department Management
Jenner Ag has always practiced open book management — sharing the company financials with the management team. But in 2011, Steve Jones, president of the Case IH dealership, decided to take it one step further and started playing the Great Game of Business after meeting Jack Stack, founder of the game and founder, president and CEO of SRC Holdings Corp., at a business leaders’ meeting in town.
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WEDA Dealer Institute

[Webinar] Improving WIP & Billing Cycle Times

By Kim Schmidt posted on September 26, 2016 | Posted in Department Management
During this webinar, WEDA Dealer Institute trainer Kelly Mathison discussed best practices to reduce work in progress (WIP), including practical ideas on improving WIP, billing cycle times and accounts receivable in your service department. This FREE webinar is brought to you by the WEDA Dealer Institute. [To view any of our webinar replays, you must be logged in with a free user account.]
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SPECIAL REPORT

Chemigation: Feeding Crops Nutrients When They’re Needed

By Kim Schmidt posted on September 5, 2016 | Posted in Best Practices, Data & Forecasts, Operations & Finance, Precision Ag Sales & Service
For growers already utilizing irrigation to grow their crops, chemigation — applying agrichemicals through an irrigation distribution system — offers an alternative to other application methods. The method can be used to apply a variety of chemicals, from fertilizers to livestock waste, insecticides, herbicides and more.
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Farm Equipment Videos

AGCO Aims for $2 Billion in Precision Ag Business by 2029

AGCO Aims for $2 Billion in Precision Ag Business by 2029

In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at AGCO’s plans for its precision business and its 2029 targets. In the Technology Corner, Noah Newman talks with Eis Implement’s precision team. Also in this episode, the interest savings dealers could see with the latest rate cut by the Fed and a look at the used 100+ horsepower tractor market. 

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Yetter Farm Equipment

Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Machinery Scope

Machinery Scope

At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.
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Finance Scope

Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.
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