Farm Leadership

  • Happy Thanksgiving and Update on Kid’s Wages Post

    Some of my fondest memories as a child was going to my grandparent’s house for Thanksgiving.  My mother was the oldest of 12 kids and many times we would have 30 to 40 people at the house.  The best thing was my grandmother’s pumpkin and apple pie.  I know if she was still alive and […]

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  • 5 + 5 + 5 = Home Run

    Many farmers do a good job of benchmarking their operations to other operations in the same state of region.  By doing this benchmarking, they are able to see where they are either behind or ahead of other farmers.  Some get discouraged trying to get out of the middle range into the top 20%.  Most think […]

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  • What’s Your Working Capital to Revenue Ratio

    There is a saying in business that a company does not go out of business from a lack of net worth, but from a lack of cash.  An important measure of this “business cash” is to determine your working capital divided by your gross revenues.  The higher this number is, the more “business cash” you […]

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  • Farmer as CFO

    My friend Alex Tiller recently had a great post on how a farmer must be a good CFO in order to be a successful farmer in today’s complex financial world.  As I quote him “Most ag producers are their own chief financial officer”. Most farmers are doing this job right now, but many of them do […]

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  • Solutions – Not Empathy is What Matters Most

    About two months ago, I messed up with paying a bill for another business that I am involved in.  I sent a check for $6,500 made payable to one vendor to a different vendor for a $45 bill.  Of course, they cashed the check and my other vendor wondered why they did not get paid. […]

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  • Four Key Steps to Expand Your Operation

    Top Producer Magazine / Website is a great resource for farmers that are trying to be the “Top Producer”.  I recently came across a short article from their editor, Greg Vincent, about expanding a farm.  He interviewed former Farm Credit Services of America (FCSA) financial officer turned financial consultant, Roger Schlitter.  I thought it had […]

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  • Minnesota Median Farm Income Down 15% in 2008

    The University of Minnesota has a Center for Farm Financial Management that performs an survey of farms in Minnesota.  In August, they issued their report for 2008.  Some of the key findings are as follows: Median net farm income was $90,039 which was down from $105,489 in 2007.  This represents an approximate 14.6% decrease.  Median net […]

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  • Pay Your Kids – It Pays at Tax Time

    I remember working on our wheat and pea farm for my parents when I was in high school.  During spring, I would help plant the peas.  During harvest, I drove the combine for about 3 to 4 weeks depending on the yields, weather and how much custom cutting we did.  In the fall, I would […]

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  • Say “Thank You” and “I’m Sorry”

    I was reading  a good book by Mark Reiter called “What Got You Here Won’t Get You There” .  Mark is a consultant to many Fortune 500 companies on how to get their key employees to overcome thier worst personailty traits. In the book, Mark pinpoints 20 traits that almost all people in business and in life […]

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  • Twelve Steps to Avoid Being a Marketing Lemming

    I came across a good marketing company be watching Agday the other day.   Alan Brugler was discussing the corn and bean market and I decided to go check out his web site.  He is located in Omaha, Nebraska and has a very good short guide on how not to be a marketing lemming. I will […]

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