Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Business Planning Part Three Vision, Mission,

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Presentation transcript:

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Business Planning Part Three Vision, Mission, Goals, Objectives Managing for Today and Tomorrow

Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Objectives begin to develop business goals & integrate those with personal goals learn the components of a business plan learn how business plans can be used for farm business development and/or transition.

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Vision Mission Goals Objectives

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Goals Support Mission & Vision Mission—a guiding force for the present Vision—Where you want to end up. Mission Statements define priorities and purpose Vision statements is the long sighted purpose of your existence.

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Goals Components of Goals SMART – Specific (written) – Measurable—providing a means of evaluation – Achievable or Actionable – Reasonable or Rewarding – Time

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Objectives Small steps to reaching goals. Sometimes referred to as action steps or daily action plan.

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Important vs Urgent Effectiveness vs Efficiencies Take care to do important things in a timely manner (effectiveness.) Handling important items in a timely manner improves your efficiencies and lessens time spent dealing with urgent situations.

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Simple to Complex Plan to Succeed Objective SMART Goal Action Plan Ag Plan Cover Page Executive Summary Business Description Operations Marketing Plan Management & Organization Financial Plan

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Business Goal in the Rearview Window Use Plan to Succeed Think of a major accomplishment for your operation. Put it into a SMART goal. What action steps were required? What overall objective did accomplishment of that goal help you to meet?

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Business Goal through the Windshield Use Plan to Succeed Choose one farm transition objective for your operation. Write a SMART goal to help you accomplish that objective. Write three action steps necessary for accomplishment of the SMART goal.

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Written Communications Why develop a business plan? With whom would you share the plan or components of the plan? What happens when plans aren’t in writing? What are the excuses for a business plan to never make it into a written form?

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women AgPlan AgPlan is the agriculture, fisheries and small business planning website that helps rural business owners develop a business plan for free. It has customizable templates for Commodity Agriculture, Value-Added Agriculture, Small Business, and Commercial Fishing. Website: Getting Started with AgPlan

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Homework Develop three SMART goals related to your farm transition.