Farm and ranch resolutions
S.D. Farm and Ranch Management
New Year’s resolutions are not usually high on my list; this year is no exception. If I were to make some resolutions, it would involve the agriculture community that I work with on a daily basis. These are high and lofty goals but I will share them anyway.
Resolution #1-All producers in the state would set aside at least one day a month to work on their financial records. Recordkeeping always seems to take a back burner to everything else on an agriculture operation-I would guess because no one likes to do them. To me, it is one of the most important jobs. With up-to-date records, it is easier to make purchasing/marketing decisions as you can quickly check and see if you are on target with cash flow projections or if those projections are working. It can also help with utilizing your operating note in a more efficient manner.
Resolution #2-Producers would see their banker as part of their team. The South Dakota Center of Farm/Ranch Management stresses that a banker should be part of a team for any operation. Some producers see the banker as someone that is second guessing their decisions. Bankers want producers to be successful, so use them as another source of information in the decision making process.
Resolution #3-Producers would use the resources available to make decisions for their operation, not just do what your forefathers always did. In this time of low commodity prices across the board, operations must be scrutinized to see if there are changes that could be made to manage resources differently to increase profits. New ideas and research abound and some of those ideas may work on your operation, but you won’t know unless you try them.
Resolution # 4-Give thanks for your family and lifestyle. As the saying goes, “It is the toughest job you will ever love.” Agriculture is the one business where you can work with your family all day, every day. Children work alongside their parents and learn many skills for success. We get to see the most spectacular sunrises and sunsets, rolling vistas, and an abundance of fresh air. There are many people in this country that pay large amounts of money to come and visit our region, and we get to enjoy it every day. Appreciate those moments when life on the prairie is getting you down.
If any producer would like more information on how the S.D. Center of Farm and Ranch Management can help your operation, call 1-800-684-1969, email firstname.lastname@example.org or check out our website at http://www.sdcfrm.com.