A business plan is like a road map for a farm. Producers can plan their route, set a destination and track progress, but without a map or a plan, how do they know what success looks like, or even what they’re capable of achieving? Most importantly, how do they know when to change course? That’s […] Read more
Tag Archives farm finances
Information sharing: how much is too much?
Affectionately, on the farm, it gets thought of as “the boardroom.” It’s the kitchen table, but the conversation around it isn’t always so affectionate, or so gentle. The kitchen table can also be host to plenty of uncomfortable questions and conversations, especially if the person asking the questions isn’t getting to see the numbers they […] Read more
The next generation: seeking a place on the farm
WINNIPEG — On a hockey team, every player should have a role: a defensive centre, who shuts down the opponent’s star player; or a small but skilled defenceman who anchors the power play. It’s the same in a farm business. Everyone needs a specialty or an important role, but sometimes young people struggle to find […] Read more
Making more money doesn’t always fix financial problems
There are a couple of principles that apply to many situations on farms. The first is that you can’t borrow yourself out of a problem and can’t borrow yourself to profitability. The second being that focusing on driving revenue growth alone, without attending to all the other aspects of the business, will not necessarily solve […] Read more
