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Before long, you will find yourself with a good business plan taking shape and a document you can share with your lender as well as use on a day-to-day basis to help guide your farm or ranch in the direction you want it to go. Introduction A good introduction contains several key subcomponents of information that summarizes what your business is all about.Even though you may finish writing it last, you should start your document with an executive summary paragraph or two that captures the essence of your business.
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.
The introduction section should also provide an overview of the history of the operation and three to five goals you wish to accomplish in the next five years. This section should describe the land resources involved in the operation, including maps if you have them available.
If livestock and perennial pastures are involved in the operation, a grazing management plan would fit into this section.
So, my goal with this article is to get you started by providing six key components to include in your farm or ranch business plan.
Make these six components your headings and start filling in the details as described below.
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.
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.