Goals of Farm Management

If you haven't already, now is the time to sit down and make a checklist of this year's goals for farm management.

1. Recordkeeping. Assess your business’s financial condition, measure profitability, and prepare tax returns using the records you keep.

2. Analysis of Records. Was your farm profitable last year? What was your net worth?

3. Set Business Goals. What do you hope to achieve in terms of production, marketing, and profitability?

4. Risk Management. Consider ways to prevent the following types of risk: production, price, financial, legal, and personal.

5. Capital Purchases. What buildings, machinery, tools, livestock, etc. do you need to achieve your goals?