If so, you are worried about profits.
The simple equation (Revenue – Expenses = Profit) keeps you up at night.
This is the fundamental equation for any business owner.
With this in mind, how can we get better at maximizing the price we get for our commodity?
How can we get better at marketing our cotton commodity?
Here are 8 things that I think can help.
1. Develop a relationship with a good broker.
Open a futures trading account. Fund the account with $1,000. And then invite your broker to lunch. Get to know them. And then later, call them. Don’t pester everyday. But, call when you a have a quick question. Ask about their family. I mean, actually develop a relationship. It will serve you well. Even if you work with a co-op, you can do some speculative trading here and there to get a feel for trading, and you still have a broker as an additional information resource.
2. Invite a cotton buyer to lunch.
8. Read the archive.