Farm Succession Planning

There are differences between small farms and their larger agricultural counterparts when it comes to ensuring their long-term sustainability. Their needs are so similar however that both small and large scale farmers can learn from on another.

That also means we can avoid having to make the (often) subjective decisions about where to draw the line between small and large.

Both need an fluid comprehensive business plan, the written document that defines the farm’s goals, outlines why and for whom the goals are important and lays out the strategies and tactics for reaching the.

Just because your farm, large or small, is susceptible to unexpected changes – most of which you can not influence much less control, you should still develop and maintain that business plan so you can take maximum advantage of the scarce resources (e.g., land, labor and time) you do have around the place.

Even though this is a hard discipline to master for go-getters like you, do not be tempted to skip the planning and focus on daily production activities. While a “getting the job done” attitude is needed, action without fully testing the assumptions involved can be a risky proposition indeed.

We came across the following article, which even though it says “small farm” in the title, provides actionable strategies for everyone farming today.

Developing and keeping up with a business plan requires a commitment no doubt about it. Once you are in the flow however you’ll feel more comfortable planning than flying blind.

There is nothing that pays dividends like a well developed business plan.

It is just as true when developing your farm’ business strategies as it is when you’re building a shed, it’s always better to “measure twice and cut once” than it is the other way around.

Click here for the outstanding and insightful business planning article for farmers.

Technorati Tags: business plan for farmers, farm business management, Noble Foundation

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