Investing in professional development good for business

Danny Klinefelter, former professor and extension specialist at Texas A&M University’s department of agricultural economics, notes that four states of knowledge exist: What you know. What you know you don’t know. What you don’t know you don’t know. What you think you know that isn’t so. What does all that mean? Well, it can be […] Read more

Procrastination is a major roadblock for farm planning

Start by starting. When you think about it, that’s logical, isn’t it? So much so, that when I googled “start by starting,” I found a bunch of references to it and numerous people applying it to what they do. Meryl Streep uses it as part of what she has used to advance her career development […] Read more

Partial budgets are simple management processes that help organize and analyze many types of decisions.  |  File photo

Partial budgets provide quick help in decision-making

Some decisions are easier to make than others. Some decisions take more time than others. Not sure why but people will sometimes take more time to make a $1,000 decision than a $100,000 decision. I recently had two interesting discussions with farmers. One was with a farmer who has been presented with an opportunity to […] Read more

Tracking how farmers spend their time can be challenging

Haven’t we all asked the question, where does the time go? I had a meeting at a farm this week, arriving around 3:30 in the afternoon. As we were settling in for our discussion, one of the family members commented that it was already mid-afternoon and she hadn’t been able to get to any of […] Read more

Proper financial management means taking action now

Far be it for me, or anyone else, to pass judgment on any farm’s financial situation. However, I do think that it’s entirely reasonable for someone to ask questions, to probe, to make observations on financial performance, and of course, to make suggestions or recommendations. A farm’s current financial position is a function of management […] Read more

Important for farm families to be on same values page

If you find that you are regularly disappointed in things not getting done the way you’d like, it could be because not everyone on the team is working from the same set of core values. Values are core to what your farm business is and what you and your family cherish. Values are traits or […] Read more

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A strategic pause can sometimes be the best strategy

Do you ever have an idea? Something that you think about, something that keeps coming back to you again and again, until you finally decide to do something about it and then put plans in place to make it a reality. At its simplest form, this is strategy. The detail required in the planning (the […] Read more

Farm business management challenges same all over

I recently attended the International Farm Management Association 2019 Congress in Launceston, Tasmania, in Australia. Sessions and presentations were focused on addressing global issues and opportunities, such as demand for food, capacity to increase supply to meet the demand, future issues and roles of government. Then the sessions drilled down into the implications of new […] Read more

Pay attention to financial management — all the time

There are two times when farmers should pay attention to their business’s financial management — when they have a gazillion dollars in the bank and when they have no money in the bank. In other words, all the time. I’ll start with a generalization and a caveat. First, the generalization — my observations over time […] Read more

Defining critical issues helps farmers achieve a vision

We’re nicely into January. How are you making out with your New Year’s resolutions? I managed to escape the ritual this year. We had a bunch of family visiting and everyone got busy and we forgot to make our yearly declarations. On the plus side, that means I haven’t had to break my resolutions. Accountability […] Read more