Farm and business management is the practice of coordinating your agricultural operation so that you can maximize your profit potential and generate income. In this process, a variety of skills are used, including planning management, economics and marketing.
The following are the key practices to implement for managing your farm and business:
Marketing - selling your products or services; financing – loans to finance your operation; risk management – ensuring that your operation is safe from disasters.
Financial – creating pro-forma budgets and actual enterprise plans to help forecast revenue and expenses; calculating financial ratios; setting goals.
Write down how you http://www.mountaincountryfarm.com/ plan to achieve your objectives. This will allow you to think about the different functions of your business and identify any weaknesses.
Next, you'll want to determine if you have zoning regulations or if you are allowed to produce certain products on your land. Check with your county or township to see if they have any restrictions.
Your business will also need adequate public facilities, such as parking areas, signage, and customer assistance. These will be required to accommodate customers and visitors to your farm/ranch and should be maintained in compliance with zoning, food safety and environmental laws.
Your business will ultimately need to be self sufficient and a reliable source of income. This means you must have enough off-farm revenue to cover your expenses and save for your future business.