Professional Development Program






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Unit 3: Managing the Farm/Ranch Business for Long-Term Success

Earnie and Martha Bohner launched a series of value-added products after conducting careful market and cost research. (Martha Bohner)


The management skills covered so far related to human resources, finance and risk, apply to all stages of the business life cycle and are critical for long-term sustainability. In addition, there are a few management topics that are unique to specific stages of the business life cycle. In the following sections we will address those stage-specific topics by looking at some of the questions and challenges farmers and ranchers face during: Start-up, Business Growth and Expansion, and Business Consolidation and Retirement. We will look first at the Start-up phase.
Starting a new business can be overwhelming – especially to someone who has never farmed, marketed their own products, or managed a business. As you work through the business planning process with first-time owners, you will address many of the most fundamental start-up questions and challenges. Special attention, however, should be given to financing (as already discussed) and how the business is organized and structured.
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