What Do
Success & Management
Have To Do With How I Run My Farm?
Success
We have found when a person has clearly established what they want to achieve, with their business and their lives, they not only get through difficult times, but they come through stronger, more organized and more determined.
Management
Management comes into play through our minds. The decisions we make determine the life we lead.
Everyday, we get up, think about what we need to do out in the barn, shop or field. We
Analyze the day - study the facts - temp, time of year;
Evaluate our choices - combine now, or wait til mid-morning;
Decide - we'll start combining mid-morning;
Plan - get things ready, move equip etc.;
Implement - get combining, trucks going;
Monitor - how's it going, adjust seives, speed, where is a truck? etc.;
Control - make changes as problems arise, get on the radio;
Analyze - how did it go?.
The Decision-Making Cycle
Shown above is the Decision-making (or Management) Cycle. It can take seconds, years or any amount time in between.
Success
is reaching out
to those things
you have chosen
as being worthwhile to pursue.
It is reaching out to live
the Life you have always imagined.
Things to Do Page
How to Close-out the Year's Financial Records
The Close-out procedure prepares you for:
1) a tremendous amount of Personal/Business information;
2) everything for your income tax preparer; and
3) provides everything for your lenders.
Follow the Steps listed below.
STEP #1
Balance Sheet Information
ASSETS:
1.a) Take an Inventory of Crops, Feed, Youngstock, Breeding Stock;
1.b) Get a complete Depreciation Schedule from your Income Tax Preparer
STEP #2
LIABILITIES:
2.a) Call your lenders for
Loan Balance, Interest Rate, Accrued Interest
STEP #3
Production Information
3.a) Complete the Crop Data Page
3.b) Livestock Monthly Cattle Inventory
3.c) Feed Fed Summary for the year - quantity and cost.
STEP #4
Income & Expenses
Print out the following from your computer records:
4.a) Income and Expenses for the year;
4.b) Money Borrowed and Paid Back;
4.c) Machinery, Equipment, Breeding Stock
bought, sold or traded.
NOTE:
For the Commodities your business manufactured and sold, you need to list both
Quantity and Dollar Amount.