Always know where you stand financially by keeping up with bank statements, cash flow, balance sheets and income statements. This is a good way to tell if you are making money or losing money. Don't panic if you see you are losing money if you are in the process of starting up a cattle operation, but you should be worried if you're still losing money if you're operating ten years down the road. If you're breaking even or even gaining a little income, give yourself a pat on the back for a job well-done.