Trust is the basic building block of all relationships. You can’t have accountability, commitment, or constructive conflict without first having trust. A lack of trust or a breach of it is a business risk, but how do we first measure, then manage that risk? Trust, like the word strategy, is thrown around largely as a… Read More
Has anyone ever told you, “you have to have a plan”? For many small businesses, creating and monitoring a plan can be difficult, but if done right, a long-term plan will provide the tools for long-term success. In this Mind Your Farm Business podcast, Larry Martin, principal with Agri-food Management Excellence, and owner of Dr…. Read More
Economic health. Physical health. Environmental health. These are all factors we consider when looking at our overall health on the farm, but how often do we take a look at our mental health? We all know that farming is stressful, especially since it involves unpredictable variables such as weather, markets, and family. Farmers across the… Read More
There are some stubborn myths in agriculture — rain falls 90 days after fog, wheat should be seeded in bushels per acre, and there’s a tax advantage to leasing versus buying equipment. In reality though, each of these statements is at least somewhat false. Fog and rain are not correlated, wheat should be planted in… Read More
Who learns more from a mentorship — the mentor or the mentee? The answer may surprise you. As Deb Stark, former deputy minister of agriculture for Ontario, explains, a good mentoring relationship has value for all parties involved, but success requires communication and commitment from those involved. In this episode of Mind Your Farm Business,… Read More
What is something you don’t know about your farm right now that you’d like to know? Is there technology out there to solve a particular problem you have? When it comes to navigating the very noisy space that is farm technology, Rob Saik, agrologist and agriculture technology leader, says these questions are a good place… Read More
Like Bachman Turner Overdrive says, you’re “Taking care of business and working overtime,” — but do you take time to care for you? In this episode of Mind Your Farm Business, Chip Eichelberger, renowned motivational speaker, explains the importance of taking care of yourself in order to succeed in your business. Reflecting back on an event where he spoke… Read More
Capital assets don’t buy groceries. If this statement makes you scratch your head a little, you’re likely the older generation on the farm. If you read it and think, “Don’t I know it” you might be the in-coming generation, and very likely frustrated by the lack of clarity on how the farm’s equity and income… Read More
Believe it or not, the farm transition can actually be a joyful journey. But that can only happen once three things are established: Is the business going to continue? When would you like it to continue? (starting now, or with a reading of the will) Who will lead the business in the next phase? That’s… Read More
If we can’t manage what we can’t measure, how do we approach the very real risk of losing public trust in how food gets grown? “Public trust is one of those things where we don’t know the full value of it until we’ve lost it,” says Crystal MacKay, president of the Canadian Centre for Food… Read More
Which questions do you ask potential new hires? Where to you find your next star farm employee? Is the employee handbook up to date? If you laughed and thought, we don’t even HAVE an employee handbook, this podcast episode is for you. In this Mind Your Farm Business episode, host Shaun Haney takes us on… Read More
Perhaps more contentious than the buy versus rent debate is the question of when and why to incorporate the farm. The federal government proposed sweeping changes to how taxes were calculated for corporations last summer. The changes were met with significant push-back from the farm community, as the new rules would have a significant impact… Read More
No two farm business plans are identical. A young, aggressive producer focused on expanding likely needs a comprehensive business plan with detailed cash flow and business projections to satisfy investors and partners. On the other extreme, the business plan for an established farm with no children interested in taking over can be very simple —… Read More
Every farm succession plan starts and stops with the older generation. In most cases, it’s up to mom and/or dad to determine how and when the transition moves forward. For farm families who are stuck in that process, it’s usually not from a lack of desire to execute, but from paralysis — not knowing where… Read More
Many times we look at farm succession from a very holistic point of view, through a lens focused on the overall process and all the people involved. But this can make things very complicated. Sometimes we need to look at one generation at a time. What are their concerns/desires/needs in this process? In this Mind Your… Read More