Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Business Planning Part Two Review of Financial Documents Managing for Today and Tomorrow

Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Review of Homework What did the Balance Sheets tell us? Did the five year trends indicate anything? How did last year’s income compare to five years ago? Other things you discovered?

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Evaluating Your Business Efficiency Size Debt My milk stool has three legs

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Efficiency How well does the business utilize its resources to generate profits Getting a bigger truck when you are loosing money on every load you haul won’t help much!

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Size Gross income : if you are going to add more people to support is the operation big enough to do that? Do you need to add more enterprises or expand current enterprises?

Managing for Today and Tomorrow Succession, Business, Estate, and Retirement Planning for Farm and Ranch Women Debt The business may be able to serve current debt without any problems but if we expand the operation and use borrowed money, then what does the operation look like? Look at the ability of the business to service additional debt.