Farms are expensive. For families in transition, ensuring the next generation has enough capital to buy the farm while leaving the previous generation with enough to retire can be challenging.
A farm vision should be motivating, inspiring and help align everyone to one common goal. An added benefit is its impact on employees.
When transitioning families are contending with both farming and non-farming children, some financial advisers say smaller financial gifts given earlier in life can alleviate some concerns.
The agriculture community is increasingly recognizing human resources as a valuable management tool, making interpersonal skills and their evaluation a hot topic.
At around the mid-point of the calendar year, some farmers may find it a good time to take stock of business operations.
Successful farmers know a farm vision provides focus and helps guide daily decisions. Creating the vision to propel a farm forward takes some time and thought, but experts say it’s well worth it.
Keeping energy consumption down on farming operations can be a tough task, but many operations find ways to improve, not only to help their operation, but also the environment and their bottom line.
Seeking a second opinion can be a prudent on-farm decision-making measure, but beware being engulfed by a tidal wave of viewpoints.
Debt isn’t necessarily a bad word. In fact, experts say there are numerous reasons why your business may need it.
Employee engagement is critical for new farm CEOs’ leadership, as well as for more established farm CEOs to inject new life into their labour force.