The season of New Year’s resolutions is upon us. This time of year, we start reflecting on what we have accomplished and what we would like to achieve in the year ahead. Before jumping right into those new resolutions, take some time to remind yourself of your big-picture or long-term vision for yourself and your farm business, set strategic goals to align with your vision, develop an attainable plan of action, and identify who is responsible for each part of the plan.
In this video, Andy Larson, farm financial consultant with the Food Finance Institute and also the Wisconsin Small Business Development Centers, talks about financing options for a rural food or farm business. We’re going to spend most of our time talking about traditional banks and traditional lending, but also bring up a number of options that are more non-traditional, if you don’t want to use a bank or you can’t.
n this video, Andy Larson, farm financial consultant with the Food Finance Institute and also the Wisconsin Small Business Development Centers, talks about financing options for a rural food or farm business. We’re going to spend most of our time talking about traditional banks and traditional lending, but also bring up a number of options that are more non-traditional, if you don’t want to use a bank or you can’t.
Getting Started in Your Food or Farm Business video series highlights the key components of food and farm entrepreneurship and introduces you to the tools, skills, and resources you need to successfully start your own food or farm business.
In this video,Katie Wantoch, Extension Farm Management Outreach Specialist, talks about considerations when filing an income tax return for the food or farm business.
Take the next step by checking out the Farmers’ Guide to Business Structures Guide UW Center for Cooperatives Farm Commons Starting a Business – WI Department of Revenue Wisconsin One Stop Business Registration Portal Starting and Running a Business – Legal Food Hub Start Your Business – Small Business Development Center IRS – Nonprofit Resources […]
In this video, Katie Wantoch, Extension Farm Management Outreach Specialist, talks about the importance of financial statements and how they impact the future of the business.
In this video, Katie Wantoch, Extension Farm Management Outreach Specialist, talks about the importance of recordkeeping and introduces the farm business financial model.
This guide was developed jointly by UW-Madison Extension, USDA agencies, and DATCP to provide producers just getting started in agriculture with a well-rounded resource. Set up as a road map, it walks beginning farmers through a variety of resources available to support them through their journey of starting an agriculture operation, farm, or food business.
Some takeaways for today’s presentation include accessing land where do you begin, navigating lease agreements, negotiation for success, and resources to get you connected?
Setting a price for a new food product in the marketplace is no easy task. In this video, we’re going to help you think about all the different facets that you need to consider to do it right.
Market characteristics is who typically makes the decision to purchase your product, this may or may not be the person who has ultimately consumed the food product that you have. As an example, a product may be appealing to young kids, but they’re not the ones purchasing the product, so you want to reach their parents.
Take the next step by exploring the Edible-Alpha® Learning Center Getting Expert Advice When Starting a Farm Business Extension Food Business Development Creating a Value-Added Business Model That Works
The takeaways of this video are: What is a business model? How can you use the business model canvas to flesh out your business idea? And how do you explain the value that you bring?
Entrepreneurship supports the overall higher GDP for cities and counties, and it’s an opportunity to support underserved and marginalized populations to get out of poverty and reduce their dependence on welfare. Entrepreneurs tend to also be able to provide a lot of innovative products as well as services. Often they will fill niches that may not exist in the community, such as ethnic grocery stores.
The first step in determining the feasibility of a business idea is objectively defining what success looks like, preferably using measurable numbers. Unsurprisingly, time and money tend to be most people’s biggest constraint.
Take the next step by Establishing Your Values and Purpose – Strategic Thinking for the Farm Business Getting Expert Advice When Starting a Farm Business Set Your Farm Strategy with Daily Habits What is Strategic Thinking? Extension Food Business Development
For business owners, managers and employees, days are full of endless decisions and actions that affect the health, success and future of ourselves and our businesses. These choices can start to feel like they’re piling up, which creates pressure, stress and a feeling of foreboding that can negatively impact how we make (or put off making) decisions.
Business strategies are practical actions that communicate how a business plans to reach its goals. Thinking strategically about the farm business as a whole helps determine emerging themes, issues, patterns, and opportunities. Learn how to complete a SWOT Analysis for your farm.