Tomorrow’s Top Agricultural Producer Program Stan J. Bevers, Associate Professor & Extension Economist, Vernon, Texas Blake Bennett, PhD., Assistant Professor.

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Presentation transcript:

Tomorrow’s Top Agricultural Producer Program Stan J. Bevers, Associate Professor & Extension Economist, Vernon, Texas Blake Bennett, PhD., Assistant Professor & Extension Economist, Dallas, Texas

Presentation Outline TTAP Mission Statement Objectives Business Plan Development Leveling Workshops Programming Participants Evaluating the Program Funding Mentor Program

TTAP Mission Statement TTAP is a management development program to train targeted agricultural producers the business skills necessary for them to develop successful businesses that will survive and prosper in the current and future economic environments. Targeted agricultural producers include those that plan to take over existing operations, those that are developing new operations and those seeking funding for existing or start-up operations.

TTAP Objectives At the completion of the program, the operation will have a completed business plan on their (proposed) operation. Throughout the program, the participants will be taught the skills necessary to implement the successful business plan. Each operation will be assigned a 3 member mentor committee to advise the operation for twelve months after the program is completed.

Business Plan Development Business plans have largely been ignored by the production agriculture industry, but should be an all-encompassing risk management tool. A Case Study (TTAP Enterprises) was created and a business plan was written for the program. Serves as a reference for each participant. CD includes all necessary computer files.

Leveling Workshops Expected participants to have basic computer skills. QuickBooks Pro™ and Microsoft Excel™ workshops prior to the beginning session. Three sets of Leveling workshops…One day for QB and one day for Excel. TCE Mobile computer lab. Will complete Futures/Options Workshops in October, 2003 prior to Session III.

Programming Four Sessions moved around Texas over a 15 month period. Session I: Amarillo, November 2002; “Developing the Basics” Session II: College Station, January 2003; “Financial Planning & Analysis” Session III: Dallas, November 2003; “Agricultural Marketing” Session IV: Kerrville, January 2004; “Tying It All Together”

Session I: Developing the Basics Sources of Risk Business Plans and Planning Mission Statement Business Structure Resource Inventories SWOT Financial Statements and Analysis Furthering QuickBooks Pro™

Session II: Financial Planning & Analysis Defining Your Objectives and Goals Role of Enterprise Budgets Farm Assistance Overview Cash Flow Development How to be a Good Analyst Producer Prospective Tying the Plan thus far.

Between Session II and III: Producers will complete their accounting for 2002 Financial Analysis will be completed by Lead Economist Farm Assistance will be completed by Risk Management Specialists Futures and Options Leveling Workshop

Session III: Agricultural Marketing Futures and Options Review Advanced Futures and Options Technical Analysis Commodity Insurance Simulations Commodity-specific Sessions Contracting

Session IV: Tying It All Together Legal & Liability Issues Personnel Management Intergenerational Transfer Developing the Executive Summary Mentor Presentation Characteristics of a Good Manager Graduation

The Participants 24 Operations from across Texas and Oklahoma. Mostly commercial operations, a few small operations. Both Livestock and Crops. $1,000 registration fee. Looking for relatively young/inexperienced producers.

Evaluating the Program Short Term and Long Term Short Term Each speaker solicited to submit 3 questions regarding their presentations. Using these, a 39 question pre-test was developed. Pre-test given out either at the first leveling workshop or the first session. After each session, a shorten posttest is completed for that session. Other standard questions such as facilities, meals, etc…

Session I Session II Session III Session IV Cumulative Pre-test 39.6%48.1%31.6%32.6%38.0% Post-test 69.0%74.0% Change 74.4%54.0% Evaluating the Program Session I and II Results Average Score (% of 100)

Evaluating the Program Short Term and Long Term Long Term Mentor and lead economist will visit once post session IV to evaluate progress and deviation from business plan. A two year post survey will determine overall impact of the program. Is it a success if some operations do not exist any longer? Exit in an orderly fashion?

Funding for the Program Primarily from private industry, roughly $54,000, lending agencies, insurance, foundations… Southern Region Risk Management Education Center. Registration fees. Recently turned in Federal Proposal to CSREES.

Mentor Program Two producers and one lender Must be at least 100 miles away Team will draw mentors from their 600+ Master Marketer program and MM for Lender program.

Current Status Completed Session I and II. Assisting participants with closing their 2002 books using managerial accounting with QB. Farm Assistance analysis will be performed during the spring and summer. Participants are to bring back the business plan completed through the financial projections portion.

Questions or Comments….