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
Tag: Terry Betker
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
This Wednesday edition of RealAg Radio is brought to you by the Canadian Canola Growers Association. On today’s show you’ll hear: Terry Betker of Backswath Management, on decision making and using data analytics or instincts; Dave Gallant of Canadian Canola Growers Association, talks about their cash advance program; and Brent Gloy of Purdue University, on… 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
Terry Betker has worked with farmers to establish peer groups for more than a decade. Traditionally, farmers engage with their peers to share management ideas in informal settings — everywhere from industry meetings to the local coffee shop — but formal peer groups are not common in Canadian agriculture, says Betker, president of Winnipeg-based Backswath… Read More
In today’s episode of RealAg Radio, hear host Shaun Haney, as well as the voices of: RealAgriculture’s Jessika Guse with the latest top ag news; Financial Post reporter Naomi Powell joins to talk about the CN strike; Re-elected president of Ontario Federation of Agriculture, Keith Currie, as he talks to our own Bern Tobin about… 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
How often do you stop and take time to evaluate how well your farm business is performing? And how do you determine whether an area of the business is performing well or needing improvement? The first step in benchmarking a farm’s financial performance is to compare it to itself, to understand historical performance. From there,… 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
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
By Terry Betker This is a fantastic time to be entering (or be in) the business world, because business is going to change more in the next 10 years than the last 50. We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the… Read More
By Terry Betker When the planets align and the growing season weather is perfect, and there are production shortfalls in other parts of the world and the markets respond positively, and when you’re able to price into market highs, life on the farm can be very rewarding. A possible scenario? Perhaps, but likely it’ll only… Read More