Adopting new technology in agriculture is a significant investment that can be highly profitable if done well, or costly if not. The first step is to be aware of and understand the issues that can influence the outcome, followed by gathering the necessary information to make informed decisions.
Using technology in farming isn’t just a choice—it’s necessary. As farms use and rely on more technology, farmers and industry stakeholders are looking at advanced tools like robots, automated equipment, and self-driving machines.
Powering through the technical process of succession without acknowledging and addressing the tensions in your situation will give you a plan, but how long will it last when the tensions build to a breaking point?
Table of Contents Introduction Strategic thinking is the intuitive, visual, and creative process you use to make decisions about your farm business. Strategic thinking is all about thinking ahead, predicting what your competition is going to do, and then taking risks to succeed. You’re thinking big, you’re thinking deep, and you’re thinking across time. You […]
Key elements of a successful business partnership include open and honest communication, setting clear expectations, and defining quality standards emphasizing the importance of independence, flexibility, and documentation to ensure a successful partnership.
Effective recruiting plans should be a critical part of your business model as you seek out key talent to help your business grow.
Understanding the formula for success can provide a road map to achieving our purpose which brings us peace of mind and that desired sense of contentedness.
Take the next step by connecting with a licensing and permitting organization such as: Additional Resources
Farm succession planning has a lot of technical components that require accountants, consultants, tax specialists, and attorneys to figure out how and when the transition will happen. Read how Extension helped this family farm successfully transition to the next generation of owners.
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.
Taking time to plan with trusted advisors—whether you’re farming on your own or with farming partners—is a key to success. However, building that meeting habit takes time and some effort.
Table of Contents Introduction In the ever-changing landscape of agriculture, staying competitive requires more than just identifying challenges; it includes identifying opportunities as well. Both demand a deeper dive. Explore the power of defining strategic issues on your family farm. Taking this step can help you find creative solutions that lie beneath the surface, that […]
If you are considering a change to your farm business, it can feel like you are starting a new journey. You have cows to milk, fields to prepare, seeds to plant, and a future to plan. But, just like a road trip needs a map, your farm needs a plan, too. That’s where a destination […]
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.
