Cedar Summit Farm Video
Video was created to allow producers to
connect with a farm family that has
developed a business plan.
The Cedar Summit Farm business plan is
included in Guide and in sample
worksheets.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Cedar Summit Farm Video
Video addresses:
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Why the Minars wrote a business plan
What it was like to write their plan
Challenges they encountered
Advice to others writing a business plan
Benefits of writing a business plan
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
Minar’s started by discussing why they
developed a business plan.
• What reasons do you have for developing a
business plan?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
Minar’s reasons for doing a business plan:
• It helped obtain financing – show to lender
• To describe why they wanted to start a new
business
• To evaluate if they really wanted to pursue
their dream
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
Minar’s also discussed how developing
their business plan took time.
• Why does development of a business plan
take so much time?
• What can we do to reduce the time
commitment?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
 Minar’s plan took time because:
• Didn’t have the tools available now – Planning Guide
and software.
• Research took time, polled potential buyers for two
years, met with other on-farm processors
• They use their plan as an ongoing tool, it is a
dynamic document that they refer to often and revise
when needed.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
Planning Challenges from Minar’s
perspective
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Getting started!
Not knowing how to write a business plan
Needing to make assumptions
Process seemed intimidating
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
What would help you get started on your
business plan?
What can we do to help you better
understand how to write your plan?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
Minar’s were asked what advice they have
for other producers regarding writing a
business plan.
What did you learn based on their advice?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
Minar’s advice:
• Don’t let anyone else write your plan – do it
yourself
• Create an advisory board
• Involve family members
• Talk to someone who has written one
• Research markets
• Use your plan
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
What did Minar’s say were the benefits of
having written a business plan?
What do you view as the benefits of
writing your plan?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Video Discussion Questions
Benefits Minar’s listed:
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Later turns out better with a business plan
Have a reference for future decision making
Learn to clearly communicate ideas
Made them address all the issues
Able to nail down things they would have put
off till later.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Other Discussion Questions
What do you see as major challenges to
developing a business plan?
Any thoughts on how to address these
challenges?
How can ag professionals help you with
these challenges?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Cedar Summit Farm Video
Video and example plans help de-mystify
the business planning process and show
managers that it can be done!
Copyright © 2003 Center for Farm Financial Management, University of Minnesota