Making Your Adult Program Indispensable: All-Year-Round Presented to the Ag-Ed Department – University of Missouri-Columbia Thursday, June 28 th, 2007.

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Presentation transcript:

Making Your Adult Program Indispensable: All-Year-Round Presented to the Ag-Ed Department – University of Missouri-Columbia Thursday, June 28 th, 2007 John Hobert Farm Business Management Instructor Riverland Community College-Kenyon FBM Department

Welcome from the Gopher State!

My Student Work Area:

Who is John Hobert? Cannon Falls, MN Originally from Charles City, Iowa. Attended Mason City Junior College from Attended South Dakota State University in Brookings, South Dakota from Served in Republic of S Vietnam Taught Agricultural Education from at Cannon Falls Sr. High School, Cannon Falls, Minnesota. Riverland Community College 1994-Present. Currently work with 50+ farming operations. Currently President of NFRBMEA.

MN FBM Regional Setup: 1 – NorthwestNorthwest Northland CC-Thief River Falls Ron Dvergsten 2 -- Northeast / East CentralNortheast / East Central Central Lakes CC-Staples Del Lecy 3 -- West CentralWest Central Ridgewater CC-Willmar Jim Molenaar 4 – SouthwestSouthwest MN West CC-Jackson Al Brudelie 5 -- South CentralSouth Central South Central CC-Mankato Al Brudelie 6 – SoutheastSoutheast Riverland CC-Austin, Albert Lea, Owatonna Peter Scheffert

Following the Annual RCC- Kenyon FBM Banquet Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 1: Review the SE Minnesota 2006 Annual Report.

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 1: Review the SE Minnesota 2006 Annual Report. Tab 2: Review the 2006 Calendar Year Farm Report Card.

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 1: Review the SE Minnesota 2006 Annual Report. Tab 2: Review the 2006 Calendar year Farm Report Card. Tab 3: Review Student 2006 FINAN Reports.

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 1: Review the SE Minnesota 2006 Annual Report. Tab 2: Review the 2006 Calendar year Farm Report Card. Tab 3: Review 2006 Student FINAN Reports. RankEm Personalized Percentile Rank Report.

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 1: Review the SE Minnesota 2006 Annual Report. Tab 2: Review the 2006 Calendar year Farm Report Card. Tab 3: Review the 2006 Student FINAN Reports. RankEm Personalized Percentile Rank Report. Personal Balance Sheet

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Review the SE Minnesota 2006 Annual Report. Review the 2006 Calendar year Farm Report Card. Review the 2006 Student FINAN Reports. RankEm Personalized Percentile Rank Report. Personal Balance Sheet Personal FINAN Report

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 1: Review the SE Minnesota 2006 Annual Report. Tab 2: Review the 2006 Calendar year Farm Report Card. Tab 3: Review the 2006 Student FINAN Reports. RankEm Personalized Percentile Rank Report. Personal Balance Sheet Personal FINAN Report Personal Cash Flow Projection

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 1: Review the SE Minnesota 2006 Annual Report. Tab 2: Review the 2006 Calendar year Farm Report Card. Tab 3: Review the 2006 Student FINAN Reports. RankEm Personalized Percentile Rank Report. Personal Balance Sheet Personal FINAN Report Personal Cash Flow Projection Personal FINAN Graphs/Barometer Charts

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 4: Review the students farm records. Discuss accuracy, problem entries, & completeness.

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 4: Review the students farm records. Discuss accuracy, problem entries, & completeness. Tab 5: Misc. Farm Information Custom Rate Information Factors That Lead to Profitable Farms Student Farm Visit Schedule

Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 4: Review the students farm records. Discuss accuracy, problem entries, & completeness. Tab 5: Misc. Farm Information Custom Rate Information Factors That Lead to Profitable Farms Student Farm Visit Schedule Tab 6: Current Year Taxes

During the next year on subsequent farm visits: Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: Tab 7: Evaluation Tools 2006 FINBIN Report on Minnesota Farm Finances. How Did Minnesota Farms Stack Up? How Did Your Farm Stack Up? Quarterly Cash Flow Monitoring Sheet follow-up. Balance Sheet, Livestock and Crop Enterprise Historical Trends. Using RankEM to Set Short Term Goals. Instruct the use of FINBIN sorts to benefit students.

Include a Marketing Discussion at Each Scheduled Farm Visit: Reinforce their marketing strengths and weaknesses year around: Review Daily Marketing Charts Weather Review: Past Year, Past Month, Current, GDDs. Grain Charts: Crop Condition Reports, Current Prices, Seasonal Highs & History, Basis, Probabilities, Supply & Demand Reports, Rust Update. Dairy Charts: Monthly Class III Pricing, Current Class III Milk Price Graphing, Probabilities, MILC Historical Charting, Historical Milk Prices.

A Continual Reminder! Think marketing! Watch markets daily! Know your costs! Utilize your analysis! Establishing a price where we make a profit is the key! Think profit gaps! What are your trigger prices? Lock in prices! Getting the top price will not be possible! Control your emotions! Sell more often in smaller quantities. Spread your marketing period further! Dont become over-whelmed with data overload! Use strategies that have worked over time and which have strong probabilities behind them!

Typical Farm Appointment Agenda: Six Week Rotation Typical farm appointment is 2 ½ hours: Daily (Current) Market Update. Utilize charting discussed previously. Farm Accounting Training, Review and Evaluation. Work toward making your Close-Out Season efficient. Farm Evaluation Tools (Continual Financial Review). Select from Tool Box discussed previously. Mini-Unit of Instruction How to Handle High Income Years.