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business planning

Managing Risk: A Conversation with Mylet Farms

The Mylet farm is operated by Tom and Neal Mylet (fifth and sixth generations of the Mylet family) along with input from several other family members. The farm has been in their family for more than 150 years.

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Managing Risk: A Conversation with Maple Farms

Maple Farms is a family partnership, with three generations of the family actively involved in the farm since 1975. Maple Farms primarily grows food-grade corn and seed soybeans.

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Views on Fairness in Family Businesses and Financial Performance

Fairness should be important in any business, but does a family’s definition of fairness affect income, profit, and tension in the business?

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Does Your Farm Need to Expand?

There are numerous motivations for farms to expand their businesses. Even in today’s environment of tight margins, many farms are exploring expansion options.

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Evaluating Strategic Options

Sound strategic planning requires assessing strategic risk, which involves the sensitivity of a farm’s strategic direction, and the ultimate vulnerability and sustainability of the farm to uncertainties in the business climate.

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Introducing PIFF: The Purdue Initiative for Family Firms!

The Purdue Initiative for Family Firms (PIFF) is a new program housed in the Department of Agricultural Economics. PIFF is an integrated research, outreach, and teaching program.

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Using Enterprise Budgets to Compute Crop Breakeven Prices

Enterprise budgets are often one of the building blocks to creating a whole-farm plan.

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Assessing and Managing Strategic Risk

Managing both operational risk and strategic risk is important in today’s production agriculture environment.

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Should Sweat Equity be Used to Compensate a Returning Family Member?

Sweat equity may arise when an on-farm heir is paid less than their true opportunity cost to work for the business and/or the business has grown substantially due to the abilities and efforts of the on-farm heir.

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Family Business as a Competitive Advantage​​​

Recorded January 31, 2017 | James Mintert, Maria Marshall and Renee Wiatt talk about the competitive advantage of the family business and introduce the Purdue Institute of Family Firms.

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