Performance review: financial, yield, cost of gain, whatever metrics measure the performance of your farm.

Operations post-mortem: Take some time to identify what worked well and what didn’t. Make a list of what to Start doing, what to Stop doing, and what to Continue.

Strategic issues: Analyze and discuss big decisions that are pending. Are we going to buy or rent more land? Is it time to get out of an enterprise? Are we going to change tillage practices, and what investment is required to do so?

Goals: Set specific goals for all areas of the business: financial, operational, human capital, administration. Dr. Danny Klinefelter, ag economist at Texas A&M, has taught the 5% rule for years in our industry. A 5% increase in price received, a 5% decrease in costs, and a 5% increase in yield will often produce more than a 100% increase in net returns. The effect is cumulative, multiplicative and compounding. How might your goals result in 5% change?

Ownership check-in: How are we working together? Do we need to clarify any shared expectations? Are there any changes to roles needed? What is everyone’s satisfaction with status quo?

Estate and succession planning maintenance: Review estate plans and buy-sell agreements at least every five years, and more if the ownership situation or laws are changing.