Country Farm and Business Management

The management of a business and farm in the country requires a range of technical, economic, and human analytic skills. This includes identifying the needs of the customers your farming operation is uniquely placed to meet, establishing a plan for production and marketing and ensuring that basic resources are utilized efficiently and effectively. It also involves continuously assessing the effectiveness of current practices and testing the latest technology.

A sound financial plan is vital to an efficient farm operation. This includes the preparation of annual budgets, farm plans and cash flow statements. These are used to develop management plans and assess the performance of the company in terms of reaching goals. It is crucial to develop an emergency plan that outlines what could happen to the business in the event of a disaster occurs or if you decide to sell the company or downgrade it to hobby status.

It is essential to seek advice and assistance whether it’s from a consultant in business who has worked in agriculture industry or as a sounding board for ideas that you’ve sketched on scrap paper. There are also many organizations in Wisconsin that assist farmers and food-related businesses begin and grow. One example is Farm Answers, which features an extensive library of resources for how-to and information, as as a list of beginner farmer training programs.

Farm managers who succeed have a strategy that is in place for their children or family members to inherit the farm in the future. This is not an easy process and can create tension. However it is essential to begin the conversation early.

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