What comes first, strategy or leadership? It’s a classic “chicken and the egg” situation.
Tag Archives Perspectives on Management
Farms must pay attention to their balance sheet’s liquidity
Farm balance sheets are under pressure this year, and the storm may not just come from the weather.
Performance improvement plans set expectations
Today’s farms rely on strong teams to keep things running smoothly, and the “fire fast” mindset doesn’t always serve them well.
How to look at return on investment in transition planning
ROI is a performance measure, expressed as a percentage, and is used to evaluate the efficiency or profitability of an investment. It is useful when comparing the efficiency of a number of different investments.
Disciplined risk management not just useful, but essential
Strong farms will proactively assess risk and take action to protect their business
By making risk management a proactive priority, farms can safeguard their future and seize opportunities that might otherwise go unnoticed.
Concept of inventory adjustments is worth understanding
What does “inventory adjustments” or “change in inventory” mean? This term reflects how your farm’s books are converted to the accrual accounting method. For many farm businesses, accrual accounting can seem complicated, but it’s crucial for getting an accurate picture of financial health. Let’s break it down. Accrual accounting recognizes revenue when it is earned […] Read more
Face the common challenges in early transition planning
On the long list of to-do’s for farm managers and families, transition planning is often near the bottom. This is a common challenge faced by farm families, especially early in the process. Knowing the challenge ahead of time, understanding that you aren’t alone in facing it, and having some tools in your back pocket to […] Read more
Financial benchmarks play key role in a farm’s success
Many farms and ranches that come to my team often ask a similar big question: How can they get more out of what they already have? They know something isn’t quite right with their operation, but they’re unsure what it could be or where to begin. All around them, challenges arise — whether it’s finding […] Read more
Telling lenders a good farm story can help access capital
In an era in which agricultural markets can turn on a dime, securing reliable and affordable financing has become a critical challenge that can determine the success or failure of a farming operation. Access to capital is the cornerstone of a thriving farm, whether producers are looking to maintain cash flow, upgrade equipment or plan […] Read more
Peer power and professional precision can lead to success
In the dynamic and fast-changing world of agricultural production, successful farm management increasingly relies upon a combination of traditional wisdom and innovative strategies to improve business results and viability. Across the industry, farm management consultants are providing expert advice to farms on optimizing operations and financial and resource management. They’re helping to improve efficiency, profitability […] Read more
