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Taking Stock: Planning for the next phase of your business

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Taking Stock: Planning for the next phase of your business Mary Peabody UVM Extension/Women s Ag Network Target Audience Women farmers (primary but not exclusive) 7 ... – PowerPoint PPT presentation

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Title: Taking Stock: Planning for the next phase of your business


1
Taking Stock Planning for the next phase of
your business
  • Mary Peabody
  • UVM Extension/Womens Ag Network

2
Target Audience
  • Women farmers (primary but not exclusive)
  • 7 years in agricultural business
  • At least 50 income from the farm
  • 35-55 years old

3
WAgN BUSINESS START-UP CONTINUUM
Writing the Business Plan
Self-Assessment
Implementation
Implementing Your Exit
Is Agriculture a good fit?
Long-term Sustainability
Financing the Business
4
The Problem
  • Threatened financial security and business
    viability for farm and forest land owners
  • Many programs available for startup but far less
    for mature businesses

5
About Taking Stock...
  • 12 hours of class time Clinic
  • Individual consultation
  • Class Components
  • Revisiting your goals and mission
  • Building a high-quality management team
  • What your financial statements can tell you
  • Policies/Procedures
  • Exit/Transition planning basics

6
Outcomes
  • Increased knowledge of USDA programs
  • Improved Motivation to plan/set goals
  • Improved business performance through better use
    of best management practices
  • Increased satisfaction with business performance
  • Increased satisfaction with quality of life

7
Success transferring the focus of the class
from the instructor to the student
  • Lecturing doesnt work without hands-on
  • 80 of whatever was going to be accomplished was
    going to have to take place during the class
    session
  • Every participant has a different priority for
    what most needs to get done

8
Our solution
  • Each participant creates their own learning
    contract with us
  • While they are exposed to a lot of information
    they are only working on one project for
    themselves
  • They have the benefit of a peer group to exchange
    ideas with
  • They have an opportunity for 11 consult

9
4 Cool Tools that move the class from
teaching-centered to learning centered.
  • History of my business
  • Initial Assessment
  • Goal Planning Template
  • Time/Value Matrix

10
  • The Initial Assessment assists participants
    identify what they want to work on

11
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12
The History of My Business
Taking Stock Planning for the next phase of
your business.
13
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14
  • Once participants have identified an area to work
    in we ask them to draft goals/objectives to drive
    their work.

15
Thanks!
  • There is great value in placing the burden for
    learning on the student/participant
  • You get more when you ask for more
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