Farm Progress

2016 and beyond on the farm

Set vision, make plans now for upcoming year on your farm

Darren Frye, CEO

January 4, 2016

3 Min Read

2016 may prove to be a challenging year on many farms. Many farmers may feel they are facing major questions or tough situations that they haven't faced in a long time – or maybe haven't ever faced before at all.

This winter is a good time for the farm leader and others on the farm to prepare for any challenges the farm is facing. It can be a good opportunity to take stock of where the farm is currently and where you want it to be in the future.

2016_beyond_farm_1_635875032191512000.jpg

Knowing exactly what that 'big picture' looks like will help as the farm moves through this new year. Now is the time to think ahead – to consider opportunities and anticipate challenges. Good planning and preparation now will be helpful once the operation is in the middle of busy seasons.

Set the vision
Moving into this New Year, what are your top priorities and plans for your farm in 2016? One of the key roles of the farm's CEO is to set the vision for the farm business with the farm's other stakeholders, and then to create plans to work toward achieving that vision. The beginning of a new year can be a good time to do that, as you think about what you want for your farm's future.

You might start by thinking further out into the future than just the next calendar year. This is an opportunity to consider what you really want your farm to be like in five, ten or twenty years. You can even think about what you would want the farm to be like when it's time to pass it to the next leader.

Having a vision for your farm's future gives the people on the farm something to work and drive toward. It helps everyone see what the future could be like, and allows them to all move toward the same destination.

Build the plan
Make sure to take time to think about the farm's future with others who play major roles on the farm. Talk together about what the future might look like. Ask them what they imagine for the farm's future. What do they see happening on the farm in the future that's different or new?

When you and others on your farm have created a vision for the farm's future, then you can start building plans for how to achieve that vision. This is where you'll want to decide which plans to prioritize in this new year.

Here are a couple questions to get you started:

• What are my main goals for the farm in this new year?

• What changes am I going to make in order to achieve my goals?

• What resources and knowledge do I need to seek in order to reach those goals?

Get more farm business ideas in the new winter issue of the Smart Series publication. This issue features ideas on landlord negotiations, more on how to think about the farm's future, and one family's farm transition story.

The opinions of Darren Frye are not necessarily those of Farm Futures or the Penton Farm Progress Group.

About the Author(s)

Darren Frye

CEO, Water Street Solutions

Darren Frye grew up on an innovative, integrated Illinois farm. He began trading commodities in 1982 and started his first business in 1987, specializing in fertilizer distribution and crop consulting. In 1994 he started a consulting business, Water Street Solutions to help Midwest farmers become more successful through financial analysis, crop insurance, marketing consulting and legacy planning. The mission of Finance First is to get you to look at spreadsheets and see opportunity, to see your business for what it can be, and to help you build your agricultural legacy.

Visit Water Street Solutions

Subscribe to receive top agriculture news
Be informed daily with these free e-newsletters

You May Also Like