Lyle Wiens, who coaches farm families and advises on grain marketing, sees parallels between marketing and farm transition planning — two decision-making areas in which farmers can feel overwhelmed.
Tag Archives farm business management
Seven ways to streamline your farm transition
Farm Family Coach: It’s not hard to find parallels between this process and your day-to-day business
Build a simple, effective farm framework for decision-making
Seeds of Encouragement: Ask the right questions now to establish a governance model that works for your farm family
If you listen to enough ag podcasts, you’ll soon conclude that the success of a farm family business comes from people having the power to flourish and make good decisions. Courtney Pullen’s book Intentional Wealth: How Families Build Legacies of Stewardship and Financial Health speaks to effective family systems. Strong families that know their values […] Read more
Challenges for 2024 cash crop economics
Cash flows must be managed carefully against rising costs and falling commodity prices
As we embark on a new production year, there are several new challenges. A recent Canadian Federation of Agriculture (CFA) report says “the cost of critical farm inputs such as fuel, fertilizer, feed, machinery, pesticides, land and labour has increased dramatically. “When coupled with high inflation, interest rates and a price on carbon for essential […] Read more
‘Cash is king:’ what does that really mean?
Among other meanings, it refers to the strength of your business' cash flow
We’ve all the heard the expression “Cash is king.” It’s a catchy phrase, but what does it really mean and how can we practically apply that concept on farms today? I submit what “cash is king” really means is to have money available to pay ongoing farm expenses such as crop inputs, wages, loan payments […] Read more
Cyber-Savvy Farmer
