06 Jun
Country farm management and business management is the process of planning all aspects of an agricultural operation in order to maximize profits and income. It is a complex undertaking that requires a variety of technical, human and economic conceptual and analytical skills. The difficulty is that the final result of any action is based on conditions which can’t be predicted or guaranteed and requires a degree of flexibility in the face uncertainty.
Management of business and farming are closely connected and a successful farmer needs to think about both sides of the business equation. For instance, will need to plan production on the basis of the market price and climate conditions while at being a successful financial manager, planning ways to raise funds to fund the business in the future, and monitoring progress towards the objectives set.
It is also crucial for the owner to earn enough income from other sources to cover operating expenses and to provide a buffer against emergencies or unexpected events. Additionally, adequate public facilities must be provided to accommodate visitors and customers (e.g. parking signage, education, and customer assistance).
Many ranches and farms offer an educational experience to their guests. This can include information on food and fiber production as well as land management and the past of farming. This is a fantastic way to keep and attract customers and is generally appreciated by the general public. It may be possible to get funds from a local or state agency to help cover the cost of the education.