Taking Stock:
Planning for the next phase of your business
Mary Peabody
UVM Extension/Women’s Ag Network
Target Audience
• Women farmers (primary but not
exclusive)
• 7+ years in agricultural business
• At least 50% income from the farm
• 35-55 years old
WAgN BUSINESS START-UP
CONTINUUM
Writing the
Business
Plan
Self-Assessment
Is Agriculture
a good
fit?
Implementation
Financing the
Business
Implementing Your
Exit
Long-term
Sustainability
The Problem
• Threatened financial security and
business viability for farm and forest
land owners
• Many programs available for startup
but far less for mature businesses
About Taking Stock...
• 12 hours of class time + “Clinic”
• Individual consultation
• Class Components
– Revisiting your goals and mission
– Building a high-quality management team
– What your financial statements can tell you
– Policies/Procedures
– Exit/Transition planning basics
Outcomes
• Increased knowledge of USDA programs
• Improved Motivation to plan/set goals
• Improved business performance through
better use of best management practices
• Increased satisfaction with business
performance
• Increased satisfaction with quality of life
Success = transferring the focus of
the class from the instructor to the
student
• Lecturing doesn’t work without hands-on
• 80% of whatever was going to be
accomplished was going to have to take
place during the class session
• Every participant has a different priority for
what most needs to get done
Our solution
• Each participant creates their own learning
contract with us
• While they are exposed to a lot of
information they are only working on one
project for themselves
• They have the benefit of a peer group to
exchange ideas with
• They have an opportunity for 1:1 consult
4 “Cool Tools” that move the class
from teaching-centered to
learning centered.
•
•
•
•
History of my business
Initial Assessment
Goal Planning Template
Time/Value Matrix
The Initial Assessment assists participants identify what
they want to work on…
Taking Stock
Planning for the next phase of your business.
The History of My Business
Year
Started
Year &
Significant
Event
Today
3 years in
future
10 years in
future
Once participants have identified an area to work in we ask them to
draft goals/objectives to drive their work.
• There is great value in placing the burden
for learning on the student/participant
• You get more when you ask for more
Thanks!