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General Farm Management & Strategy
This Ohio State University spreadsheet calculates a corn silage production budget. Without some form of budgeting and some method to track your enterprises’ progress you’ll have difficulty determining profitability and if you’ve met your goals for the farm.
Read MoreA farm’s sustainable growth rate depends on the farm’s return on equity and its components. A farm with a higher profit margin, a higher asset turnover ratio, a higher ratio of assets/equity, and/or a lower percentage of owner withdrawals to net farm income will have a higher sustainable growth rate.
Read MoreBefore growing, it is essential for an operation to think about their strategic direction.
Read MoreRetirement planning is always challenging but can be especially complicated if you own your business, work for a family business, or are self-employed. Copreneurs (those who own a business with their spouse) have especially complicated situations since the financial wellbeing of both individuals is linked to the business.
Read MoreStart-up challenges may include cash flow shortages and depleted working capital, operational inefficiencies, and management bottlenecks. Comparing and contrasting these challenges among expansion options helps mitigate potential start-up challenges.
Read MoreExpansion is likely to impact farms in numerous ways. Each expansion option should be evaluated in terms of its impact on the farm’s financial statements, financial performance, and managerial attention and oversight.
Read MoreRecorded March 30, 2018 | Purdue ag. economists Chris Hurt, Michael Langemeier and Jim Mintert review the crop outlook following the March 30th release of USDA’s Planting Intentions & Grain Stocks reports.
Read MoreThe business model a farm uses when expanding the operation is not just limited to the traditional organic or internal growth model. Today’s environment provides opportunities to experiment with other business models.
Read MoreRetained earnings, net farm income remaining after operator withdrawals, off-farm income, transfer of funds into the business, and debt financing can be used for farm growth. When using debt, is important to consider how risk is impacted by leverage.
Read MoreWhen evaluating farm growth options, it is imperative that a farm evaluate the skills and competencies needed to grow. These skills are often more limiting than capital, and can become spread very thin.
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