Farm Financial Planning Shouldn’t Be Avoided – Mike Whitlock

Farmers are great at growing crops and raising livestock but I don’t know many that really like to crunch the numbers.  I feel that farmers are naturally entrepreneurial and tend to keep the farm financial plan in their head.  For many farmers this works but it can result in some surprises from time to time.  When we don’t review our financial plan and results our assumptions are sometimes proven wrong.

At the Tiffin Conference in Lethbridge I had a very interesting chat with Mike Whitlock, President of  Tannian Consulting about farm financial planning. As Mike and I discuss there is nothing wrong with getting the numbers our of your head and onto some paper.  Mike mentions in the interview that the bookkeeping and financial work is a great thing to outsource to get it off your plate so you can focus on running the farm.

SEE MORE TIFFIN 2011 COVERAGE

If you cannot see the embedded video below click here

 

Shaun Haney

Shaun grew up on a family seed farm in Southern Alberta. Haney Farms produces, conditions and retails wheat, barley, canola and corn seed. Shaun Haney is the founder of RealAgriculture.com. @shaunhaney

Trending

Canada’s 2017 first quarter ag equipment sales are stronger than a year ago

According to the Association of Equipment Manufacturers April 2017 Flash Report, Canadian tractor and combine sales are very strong when you take into account both the month to month and year to date numbers. Here are some highlights: Year to date - 4WD tractor sales are up 48.6% in comparison to 2016 Year to date…Read more »

Related

One Comment

Leave a Reply