Over the last number of weeks, we’ve contrasted two fictional farmers and their approach to managing growth, and specifically an expansion opportunity. One failed in his aspirations, the other succeeded. One of the major factors contributing to the results of both examples is discipline. “Fictional Fred” was lacking discipline. He shot from the hip, and […]
In the last two issues through prose, we’ve contrasted two differing approaches to managing growth opportunities in a farm operation. “Fictional Fred” shot from the hip, taking more of a “ready, fire, aim” approach to business. That style has a time and place, and even if it isn’t your core modus operandi, there may be […]
Harry* is one of those subtle role models that every farm community has. While no one treats him like royalty, nor does he act like it, everyone knows Harry is highly respected, not just here at home, but in the agriculture community across the entire province. He has quietly, and diplomatically, build his own little […]
Fred* wants to expand his farm. He feels he’s getting left behind when he hears about each land acquisition made by some of his neighbors. It’s not like Fred hasn’t expanded his acres; he’s doubled up since 2005 when he farmed about 3,000. But he knows he can handle more. And by all accounts he […]
“A business without passion is merely a job. A passion without business is merely a dream. Making a business of your passion is a bountiful success.” This morning I was in an email conversation about “mastering your craft” with a fellow business advisor, an incredibly intelligent woman who also happens to be one of my […]
The weekly op-ed by Kevin Hursh in the Western Producer is a regular read for me. His recent column, Taking Risks OK, but prepare for the next downturn is another resounding piece clamoring for farmers to sit up and take note. Bullet proof your balance sheet during the good times, so you can catapult ahead of your […]
You may recall the anecdotal story of an old fisherman sitting on a pier casting and catching all morning. With each catch, he’d pull out a small ruler to measure it. Some fish he’d keep, while others got thrown back. Upon closer observation, we learn that the ruler is broken and only measures to 9 […]
Knowledge is recognizing that a tomato is a fruit. Wisdom is not putting it in a fruit salad. A fellow farm advisor called me last week to ask for my opinion. The scenario illustrated a farmer’s plight of whether to seed or not to seed. More specifically, this 1,800 acre farmer, a bachelor nearing 60, […]
Most farms will be receiving their year end financial statements from their accountants by now, if not already. Those with fiscal year ends of January 31 or later might still be waiting for their year end to be finalized. How did your last fiscal year turn out? What were your financial results? If you are […]
I recently had an experience on my least favorite Canadian airline which was so bizarre that laughter was all I could do in the moment. The original plan was as follows: 5:50pm Chicago to Toronto; 2.5 hour layover at Pearson, relax, eat, maybe get some work done; 10:55pm Toronto to Regina. While waiting to board […]