C.H. Brown Co. - July 2021

C.H. Brown Co. - July 2021

JULY 2021

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The West Wasn’t Built on Small Ideas Send Us Your Risk-Takers!

As our world becomes more global, CHB has expanded its reach. And yet, we still help people secure the equipment and vehicles they need to do the kinds of hard work the West is famous for. We’re just able to help a lot more folks in a lot more places! Knowing we helped a family construction company in West Virginia get a new skid loader, or provided the finances so a working dad in Omaha could purchase his semitruck, is highly rewarding — and if you know the kind of hardworking Americans we’re talking about, then you understand that feeling, too. At the same time, you can’t shake off the place you come from, and at our company, we wouldn’t want to. Our identity is rooted in the rural American West and in the state of Wyoming itself. We’re a product of our community. Without the men and women who worked hard for generations to make a living here, we would not exist to carry that work forward. We believe in doing things the right way and are guided by the “cowboy code” of ethics you can read about on Page 4 of this newsletter. Like many places in the West, we are a working community. You’ll see more pickup trucks than sedans out here, driven by carpenters, welders, plumbers, and tradespeople of all kinds. Although a smaller and smaller minority of people are farming and ranching these days, you wouldn’t know it if you looked at our hometown, where agriculture is big business and much of what we eat is grown close to home.

If it sounds like a nice place to live, well, we agree. It produces hard workers who take a lot of pride in the kind of job they do. And yet, the part of the world we live in will surprise you — and so will the team at CHB. The West has always been a melting pot of culture and heritage, and so are we. Music and art are dear to our hearts, and we appreciate the diversity of perspectives you can get just by going for a cup of coffee or even just listening to conversations around our office. Whether you want to talk about bluegrass pickers, the pros and cons of black-and-white photography, or the finer points of military aviation, we’re here for you! We think it’s the best of both worlds. Our feet are planted firmly on the ground, but we dream big, too. In this modern world, it takes all sorts: artists and planters, painters and scientists. It used to be that Americans built things and took pride in that work. CHB is tied to that infrastructure, from the heavy equipment used to construct a cutting-edge bridge, to the Peterbilt hauler that drives over it four times a week, to the tractor used to produce the food the semitruck is hauling. You’re reading this newsletter, which means that when we talk about people needing money to do big things, you already have someone who springs to mind. Maybe they’re the newest generational owners of a family transportation business, and they need to start replacing a worn-out fleet with new vehicles. Or maybe they’re first-generation entrepreneurs with a big idea, and they need some big equipment to make it happen.

Unfortunately, that’s easier said than done. Most lenders don’t understand what we know to be deeply true: If you want to succeed, you have to accept a little risk. Why are we willing to take that bet when others aren’t? It all goes back to the “cowboy code” and story of the West, because the West was built on risk . Whether you’re setting out in a covered wagon with family for points unknown, heading south for the winter through unfriendly territory, or driving a stick of dynamite into a mountainside, the only “constant” to the lives of our forebears was risk itself. Our company is a product of that kind of risk-taking, and just as we keep up the code of ethics and conduct that guided Westerners in the past, we also keep up the tradition of betting on others to hold up their end of a bargain. Because it wasn’t the place itself that made the West what it is today or made those risks pay off. It was the people who were drawn there. Today, we seek out those people and support their efforts across the globe. And we hope that partners like you will help us find them.

–Kit West

As we begin this venture, we wish all our readers a very happy Fourth of July – celebrating over 250 years of success in the "great experiment" that has led to the greatest country on earth. Happy Independence Day to all!

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Most smartphones are only supported by the manufacturer for a set period of time, and once that time is up, support will be unavailable for that phone. Support includes everything from operating system updates to security flaw patches. Although it varies greatly between manufacturers and even service providers, updates usually roll out every few months. Apple is one of the most generous supporters of its older devices. It typically offers updates on devices that are 4–5 years old. While older devices can sometimes struggle to run newer updates, this commitment means you can keep your device for a longer period of time. On the Android side, Samsung also tends to support its devices for several years, often up to four years for its flagship devices. Despite that, for most brands the magic number is three years. So, once you notice that your device is no longer updating, what are you supposed to do? Are you expected to drop upward of several hundred dollars (or more) on a new phone? Or do you just “deal with it” and accept that your device is no longer receiving critical security updates? If your device still runs well — it does everything you expect it to, it has decent battery life, and the screen is in good shape — there might not be a reason to immediately buy a new phone. Many security experts say if you stick to a handful of apps and your usage is consistent from day to day, your risk is low. If your device is showing its age and/or you rely heavily on your phone for work and communication, the risk may be higher. Regardless, it’s a good idea to update your smartphone in regular intervals. We can all complain about planned obsolescence, but access to current updates and security patches is definitely beneficial. With so many cybersecurity risks out there, it’s better to not fall behind in these technological times.

THE SMARTPHONE DILEMMA Do You Need a New Phone When the Updates Stop?

DO THE HARD THING Don’t Ever Settle for ‘Good Enough’

Last year was a hard one for many businesses. Most people felt some kind of economic squeeze, and that was reflected everywhere from the headlines to the stock market. But what do you do about that — especially when it’s hard to put your finger on exactly what is going wrong yourself? That kind of general discomfort with “how things are” can be one of the hardest things to cope with as a business. It’s not like catching someone doing something wrong or finding out that a contractor has been bilking you. It’s tough to figure out a solution.

If what we’re describing sounds familiar at all to you, know you aren’t alone. Lots of businesses are feeling under-equipped to deal with the post-pandemic economy. Many didn’t make it at all, folding to the various pressures they faced. So, if you’re still here, be proud of yourself.

But don’t be complacent. A lot of people are going to feel the lift from a resurgent economy and just go back to business as usual. But if you felt

But that doesn’t mean it’s impossible. Like we said, it may be a hard thing. But that’s okay for companies willing to do the hard thing.

a 2020 squeeze, maybe it’s worth a closer look. What areas could you be doing better? Is your portfolio strong? Are your revenue streams intact? Will pandemic SOPs continue, or will you go back to “the old way” of doing things later this year? And remember, there’s no shame in having a professional business consultant work with you on this. Quite the opposite — we’ve already benefited from our work in that regard, and we can’t wait to see what the next year brings.

For CHB, the “hard thing” was hiring an outside consultant to look at our business and find areas we could improve. Any company is going to have things that aren’t working out as well as they should, but the funny thing about running a business is that it doesn’t make you the best-qualified person to diagnose what’s wrong. It’s sort of like being a quarterback: Sure, you may have a great arm and a mastery of on-the-field strategy. But when you take a bad hit, or even just feel off, it’s time to let the doctor take a look.

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Don’t let the long ingredient list scare you. This summer salad celebrates in-season veggies and herbs and comes together quickly. MEXICAN CORN SALAD

How a Joke Became a Multibillion Dollar Currency Market The Origins of Dogecoin

INGREDIENTS

Would you create an actual cryptocurrency to make fun of other cryptocurrencies? That’s exactly what Jackson Palmer and Billy Markus did, and it’s paid off with an over $70 billion currency market. Now, it’s the fourth-largest cryptocurrency in the world. Dogecoin (symbol: Ð) is a cryptocurrency that provides a payment system (like Bitcoin, another digital currency) that is instant, fun, and free from traditional banking fees. Its playful name and Shiba Inu dog mascot caused the currency to start as a meme, but as people began to actually purchase it, it became worth more and more. Before Dogecoin, Palmer was a product manager at Adobe Inc.’s office in Sydney, Australia. As a “skeptic-analytic” observer of crypto, he joked on Twitter about creating Dogecoin as a way of satirizing the hype for cryptocurrencies. Surprisingly, people were totally on board. So, he bought the domain name Dogecoin.com. That’s when Markus, a software developer at IBM, contacted Palmer. He wanted to create a digital currency but had trouble promoting his project and decided to jump on the Dogecoin buzz. He asked Palmer’s permission to build the software to create an actual Dogecoin.

• 4 cups of fresh corn, cut from 5 cobs • 1 tbsp olive oil • 1/2 red bell pepper, chopped • 1/2 red onion, diced • 6 green onions, chopped • 1 jalapeno, diced • 1/2 avocado, cubed • 1/4 cup fresh-squeezed lime juice

• 1/2 tsp ground cumin • 1/2 tsp smoked paprika • Salt and pepper, to taste

• 2 tbsp sour cream • 2 tbsp mayonnaise

• 1/2 cup fresh cilantro, chopped • 1/2 cup cotija or feta cheese, crumbled

DIRECTIONS

1. In a cast-iron skillet over medium-high heat, add oil and corn. Cook, stirring occasionally, for 3–5 minutes or until corn starts to char. 2. Add the corn to a large bowl and let cool for 5 minutes, then add the remaining ingredients and stir together until well combined. Taste and adjust seasoning. 3. The salad pairs well with grilled entrees and can be refrigerated in an airtight container for up to 4 days.

Take a Break

Most cryptocurrencies are fairly serious and sterile in presentation, but Dogecoin was always different. Palmer and Markus decided to market Dogecoin as the “fun” version of Bitcoin. Since Bitcoin had a limited supply while Dogecoin had an unlimited supply, Dogecoin was also faster and more consumer-friendly for new crypto investors. In 2015, Palmer made his departure from Dogecoin, citing the currency’s “toxic community” as a main reason why he left. Dogecoin also had its financial struggles during the 2018 cryptocurrency crash, but today, it’s grown stronger than ever. As of early May 2021, Dogecoin’s price is up more than 13,000% for the year. Even though Dogecoin’s origins are humorous, Palmer and Markus’ business decisions were no joke. If you decide to purchase Dogecoin yourself, whether as a joke or for investing, please do your due diligence to understand the risks of cryptocurrency.

ALIEN BALLPARK CHERRY FIRECRACKER

FLAG INDEPENDENCE ORCHID PADDLEBOARD

PATRIOTIC SUNDAE

SUNSCREEN TRAMPOLINE

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PRSRT STD US POSTAGE PAID BOISE, ID PERMIT 411

C.H. Brown Co., LLC A PLATTE VALLEY COMPANY 20 W Frontage Rd. • Wheatland, WY 82201 307-322-2545 • chbef.com

Inside

1 The West Wasn’t Built on Small Ideas 2 The Smartphone Dilemma 2 Do the Hard Thing 3 How a Joke Became a Multibillion Currency Market 3 Mexican Corn Salad 4 At CHB, ‘Company Culture’ Is a Bit Different

You hear about “company culture” a lot these days, usually in connection with cereal bars, child care facilities, and other amenities and perks a company uses to incentivize its employees. In places like Silicon Valley, the “office” may have a bowling alley or table tennis. But culture goes beyond just what you give to people; it’s also about what you take and how you live your life on and off the clock. You can’t just give people a culture; instead, your culture is made from the people who work there. At CHB, our culture looks more like a code — what some might recognize as the “cowboy code” of the West. If that sounds complicated, let us break it down a bit. Most people’s ideas of “cowboys” come from Hollywood, and that’s certainly what springs to mind when we talk about a code. But cowboys were real people, and their job — driving thousands of cattle across miles of countryside — was a hard one. When you have a job like that, you develop a way of acting and living. It keeps you safe, makes sure you get paid at the end of the day, and allows you to work long hours with different kinds of people without coming into THE CODE OF THE WEST At CHB, ‘Company Culture’ Is a Bit Different

serious conflict. That system of rules is the basis for the cowboy code — and it’s the basis for our company culture as well.

We aren’t in the cattle business, but virtues like “be tough but fair” and “work hard, play hard” are things we gladly do, and they come from the cowboys. So does “don’t make a promise you can’t keep,” and the related “don’t start a job you can’t finish.” If people can’t rely on you, they won’t be able to do business with you! Of all of them, the most important virtue is “be true to your word.” Historically, cowboys didn’t own much. They were often drifters and almost always strangers in every town they came to. Without a family name to back them up or a fortune to point at, the cowboy’s word was all that individual had. The cowboy’s heyday may be over, but their virtues live on through us. Perhaps you feel the same way. After all, you don’t need to be a cowboy, or even a Westerner, to follow the Code of the West.

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