As business owners, managers and employees, our days are full of endless decisions and actions that affect the health, success and future of ourselves and our businesses. These choices can start to feel like they’re piling up, which creates pressure, stress and a feeling of foreboding that can negatively impact how we make (or put off making) decisions. Strengthening your business planning practices can help you gain a sense of control and keep you from feeling overwhelmed by what needs to be done. Additionally, developing your strategic thinking skillset can help solve complex problems, achieve goals, and create future success.
There are tools available to help you think about the best path forward and plan for success. The business model canvas is an easy-to-use tool that helps you answer key questions which build the foundation for a successful business. It can also help guide you through the components of a business plan if you are ever asked for one by your lender.
Another tool to help you plan for success is a SWOT analysis which is a process to determine strengths, weaknesses, opportunities and threats. It helps identify the farm’s current situation and sets a direction for the future. The objective of this process is to capitalize on strengths and eliminate or minimize the impact of weakness. It is a profit-seeking and risk mitigation tool to help you take stock and gain control.
Read this article to learn more about how to set your farm strategy with daily habits and time for strategic thinking.
|
Stephanie Plaster is an Extension Farm Management Outreach Specialist at the University of Wisconsin Division of Extension.
|
|
|
Writing out a complete business plan is a time-consuming process. Before you spend your time and energy writing a multi-page narrative, explore your ideas with a simple tool - the Business Model Canvas. Adapted for use by startups, this simple one-page matrix can be a valuable tool to help farm entrepreneurs test a business idea in the context of nine key areas.
|
|
|
SWOT analysis, a process to determine Strengths, Weaknesses, Opportunities and Threats, is one way to establish where you are now and what you have to work with. It helps establish benchmarks for the farm’s current situation so that there is something to measure against moving forward to see if the farm is moving in the right direction. This process also helps you identify strategies to get there.
|
|
|
The Wisconsin Farm Center provides access to free, confidential counseling sessions with licensed mental health professionals by phone or video. To learn more about programs and assistance offered through the Wisconsin Farm Center, visit farmcenter.wi.gov or call 1-800-942-2472.
Please take a minute to share this graphic on your Facebook page!
|
|
|
Managing your dairy’s finances can be a breeze when you start with Financial Literacy for Dairy!
Join the Professional Dairy Producers (PDPW) Financial Literacy for Dairy training series this fall and winter, held at PDPW Headquarters in Juneau, Wis. This financial development program is designed to provide dairy farmers, veterinarians, nutritionists, and other agribusiness professionals with a solid financial understanding and foundation. Level 1 is already underway, but levels 2 and 3 are still to come. To register, please visit: https://pdpw.org/programs/FL-22-23/register
|
|
|
Manage your preferences | Opt Out using TrueRemove™
Got this as a forward? Sign up to receive our future emails.
View this email online.
|
427 Lorch Street, Taylor Hall None | Madison, WI 53706 US
|
|
|
This email was sent to .
To continue receiving our emails, add us to your address book.
|
| |
|
|
