In what areas does your farm business excel? What are you poor at? And how can you respond to make improvements? Self-assessment and continuous improvement are what separates high-performance farms from the average. Rob Hannam, President and Client Director of Synthesis Agri-Food Network, joins us for episode 14 of the Mind Your Farm Business podcast… Read More

What management practices and behaviours make farmers more financially successful? A report commissioned by the Agri-Food Management Institute and Farm Management Canada attempts to answer this question. “With the Dollars and Sense study we’re trying to determine what makes a leading farmer. How do they end up in the top 25% of farmers versus the… Read More

Forget the silver bullet, whether it’s some nonexistent piece of machinery or the latest snake oil crop input. In reality, the key to boosting a farm’s bottom line is incremental improvements that add up. Kristjan Hebert (@kristjanhebert) is a farmer from Fairlight, Saskatchewan and a proponent of the “five percent rule” — a philosophy advanced by Danny Klinefelter of Texas A&M that stresses… Read More

There’s a balance that must be struck in any farm succession plan. Mom and dad (the retiring generation) need enough money to retire and enjoy what they’ve earned, while the succeeding generation needs to start with enough to maintain a viable business. As Jacquie Gerrard of Backswath Management explains, farm succession conversations should start with figuring out… Read More

What comes to mind when you hear the term “accrual accounting?” Perhaps you flashback to filing your taxes last year when your accountant suggested switching to accrual accounting, but you’re weren’t sure what it meant and why it would be worth the hassle. Maybe your mind immediately goes elsewhere — what’s for supper tonight? Well, as dry as it may sound,… Read More

There are sound reasons to incorporate the farm — significant financial reasons, operation benefits and very real long-term business planning implications. But if incorporating is so beneficial, why aren’t most farms carrying the Inc. behind the business name? In this episode of Mind Your Farm Business, Shaun Haney asks veteran farm management advisor Merle Good… Read More

 

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