As farmers and farm leaders, many of us originally got involved in farming because we love production – planting and growing a crop, and seeing the results of our work. Even as we move into a leader or manager role on the farm, many of us still love spending time in the field, getting our boots dirty.

It might seem obvious, but the majority of farm business leaders didn’t start farming because they love dealing with spreadsheets and financial statements. Yet, overseeing and being ultimately responsible for the farm’s financials is part of the job description of the farm’s top leader.

This can be a challenge – partly because of what the leader might be more naturally drawn to do, and partly because there might not have been many opportunities to learn and practice financial skills that apply to the farm business. But it can become a top priority for the leader – it just takes some intentional work to make it happen.

Getting stronger

Having strong financial skills as a farm leader is a major asset and advantage for your business. This means not only being able to converse with your lenders – using and understanding the terminology they use – but going beyond and being able to explain and show them exactly what actions you plan to take to strengthen your farm’s financial position and create progress over time.

You can start working to boost your financial skills as a farm business leader by thinking about where you are right now, and where you’d like to be in the future.

One of the major steps lenders are often excited to see as part of a farm’s business plan are dynamic, effective marketing plans. You can get in touch with our market advisors to start your planning today.

The opinions of the author are not necessarily those of Farm Futures or Farm Progress.