Succession planning isn’t just for farms — it’s important for every business. A few years ago, Josée Lemoine brought her business, Pivot Performance, into the Backswath Management fold. As planned, Backswath founder Terry Betker is now stepping down (but not away) from leading the business, as Lemoine will step up to lead the company as… Read More
Tag: Backswath Management
Backswath Management, a Winnipeg-based agriculture-only management consulting firm, has announced new leadership, a new service area, and big plans for the future. Josée Lemoine, co-owner and chief operating officer of Backswath Management, will now serve as the firm’s chief executive officer. In her new CEO role, Lemoine succeeds Backswath founder Terry Betker, who will continue… Read More
We’ve talked about the “why” of creating an advisory board for the farm or agriculture business, but the “how” of setting one up requires some discussion, as well. Terry Betker, founder of Backswath Management, says that putting together an advisory board is perhaps a little different than you might think at first. Maybe people’s minds… Read More
In an era of “cheap” money, farms could take advantage to solve working capital shortages, set aside savings, or plan for a business transition. But debt restructuring, or taking on more debt even at low rates, is not without its pitfalls. For this episode of the Mind Your Farm Business podcast, Terry Betker, president, and… Read More
As we move in to a new year and new farm season, there are all kinds of things that need to be assessed, reassessed, and evaluated. If setting business goals for the year ahead is on your to-do list, you may want to consider joining a formal peer group. If the idea of sharing farm… Read More
If your farming career is less than 20 years old, you’ve likely not had the shock of seeing your debt payments balloon as interest rates rise. Why? Because interest rates have been historically low and very steady for a very long time. That ‘cheap money’ environment is changing, however, as the Bank of Canada has… Read More
What’s your farm’s liquidity? If you know, do you think it’s enough? Could you be missing out on opportunities because of a lack of liquidity? Access to working capital, or liquidity, is just one measure of a farm’s business that can be an indicator of how competitive a farm can be, says Terry Betker, president and… 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
In the day-to-day operation of a farm it can be a challenge to set aside time to chat about what the next generation expects in taking over the business. “Hey Mom/Dad/Uncle… I want you to know this is important…” sort of discussions are important because they help establish expectations, which are needed to begin a successful generational transition. So… Read More
Mind Your Farm Business (MYFB) is a 12-part audio series exploring a wide-range of farm business management topics. Featuring thought-provoking leading experts in an engaging format, MYFB is brought to you by RBC Royal Bank. You can find the full series by tapping here. How many times have you let your gut make a big… Read More
Have you recently taken over the farm? Or are you about to begin the hand-over to the next generation? Or, just maybe, your New Year’s resolution was to up your farm business management game. Whatever your reasons, Jacqueline Gerrard, of Backswath Management, will be presenting some top management tips at Crop Connect ’15. The second… Read More