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The management of a country farm and business requires a wide range of economic, technical and human analytical and conceptual skills. This includes identifying consumer needs that your farm is uniquely placed to address planning production and marketing and ensuring that resources are utilized effectively and efficiently. It also involves continuously assessing the effectiveness of current practices and evaluating the latest technology.

A solid financial plan is crucial to the success of a farm operation. This includes the preparation of annual budgets, farm plans and cash flow statements. These are used to formulate management plans and to evaluate the performance of the company in terms of achieving its goals. It is also necessary to create a contingency plan for what might happen to the business in the event of a catastrophe or if a decision is made to sell or lower to hobby status.

It is essential to seek assistance and advice from others, whether it be a sounding board for ideas that are floating around in your mind or sketched on a piece of paper or a business advisor with expertise in agribusiness. There are many organizations in Wisconsin that assist businesses related to food and farming start and grow. Farm Answers is one example. It features a how-to library, guidance and a directory of beginning farmers training programs.

Effective farm managers have a plan in place to allow their children or other close family members to take over the company at some point in the future. It is not an easy process and can create tension. However it is essential to start the conversation early.

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