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For livestock operations, an inventory of animals would be included here.Details regarding genetics, breeding plans, nutrition plans, animal handling protocol, and animal health plans including vaccination schedules should be added.
Populate each of them with some information now and then build in more detail as you go focusing on a few sections at a time. Business plans are best done as a team as it helps get the best ideas into written form, speeds up the process of getting them done, and helps create buy-ins from everyone to follow through with the plan once it is developed.
Getting a business plan down in writing gets you moving in the right direction toward reaping the full benefits of running a successful farm or ranch business.
What other personnel are involved in the business and who is responsible for managing them? Having a plan in place describing how they will grow in knowledge and ability and who will help them do it is a great motivator for any employee or family member involved in the farm or ranch.
This can include a brief overview of succession plans, too, if you have those available. Financial The financial section of your business plan includes balance sheets, income statements, projected cash flows, loan schedules, depreciation schedules, and descriptions of contingency or financial risk management plans. It depends upon having good financial records and discipline in pulling them together into meaningful information on a regular basis.
If you don’t have a business plan, now is the time to start one.
Use these basic sections to help define your farm or ranch business.
However, if you want to attract and keep good employees (including relatives) you need to have a plan in place to do it.
This section should describe the people involved in ownership as well as the people managing the operation on a day-to-day basis, including their roles and responsibilities.
If you are not marketing a commodity, it is important to identify what sets your products or services apart from your competitors and to clearly identify the size of the market you intend to be selling into.
Your banker will want to know that your sales forecasts are realistic and so should you. Human Resources Personnel management can sometimes be overlooked on a small farm or ranch operation.