“One day, this will all be yours.” If this is the sum total of succession planning you’ve done as a farm owner, or if, as the son or daughter, you’ve heard this one too many times with nothing to show for it — the interview below is a must listen. On this episode of the… Read More
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Family farms involve a complex interaction between two worlds — the family and the business, and both these worlds are impacted when a new person arrives. This person can be the glue that keeps things together, or the dynamite that blows things apart. We’re talking about what happens when a son or daughter-in-law marries into… Read More
As Canadian farms continue to grow, so does the need for talented employees who can help farmers reach their business goals. But how do you find and attract these individuals? And once you have them in your employ, how do you keep them? Human resource consultant Lynn Perry joins us for episode 20 of the… Read More
We often hear of the importance of trade, with headlines updating us on international trade deals. But, that’s only the tip of the iceberg. With each trade deal there are opportunities and risks, and it’s up to individual businesses, including farms, to assess how they could be impacted. “We’re a trading country and our agri-food sector depends… Read More
“Innovation” is a buzzword in today’s world, often associated with technology, but it’s not necessarily about gadgets, as our guest for this episode in the Mind Your Farm Business series points out. “Innovation really is about grabbing ideas from other parts of the planet or other ideas you see people doing and bringing that back… Read More
When thinking about risks to your farm, what comes to mind? Weather and market risks are usually at the top of the list, but there are many other areas where a farm business may be exposed. These risks are often unrecognized because nobody’s taken the time to go through an exercise of assessing risks and determining… Read More
Working capital is the king of financial metrics, especially during the bottom of a market cycle. A farm can have large swaths of land and other equity on its balance sheet, but if it doesn’t have cash or liquid assets to make monthly payments, the business will soon be in trouble. “A wheelbarrow full of… Read More
In the past, farms looking to grow simply bought more land, but that’s not as easy as it used to be. Rising land prices are forcing producers to be creative in finding opportunities for growth, which in some cases leads to joint ventures, mergers and acquisitions — the topic of this episode of the Mind Your Farm Business podcast. “The… Read More
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
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