Transcript of "How To Write A Cattle Farm Business Plan Effectively"
How To Write A Cattle Farm Business Plan EffectivelyClick Here For More Tips On Raising Cattle The Proper Way And Avoid Making Costly MistakesA cattle farm business plan will serve as your guide to starting up a cattlefarm business. Below are several tips on how to write your business plan.Consider your goals and objectives.Before you lay out your cattle farm business plan, start brainstorming.Think about what your specific goals are. Write them out. The more you areable to envision what your particular objectives are, the more able you willbe to come up with strategies to reach those objectives.Do a SWOT analysis.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.SWOT analysis is an important tool used in business and economics. Beforeyou write out your cattle farm business plan, figure these four planningstrategy factors out. Remember that you have to analyze two kinds offorces: internal forces that you can control, such as what cattle breed youchoose and what kind of feed you give your cattle, and external forces thatyou cannot control, such as market prices and the type of soil your pastureis on.Perform an internal SWOT analysis of yourself and your farm. Think aboutwhat you are good at and what you need to work on. Consider asking otherpeople or professionals to help you in the areas where you feel you arelacking knowledge or skill. Perform this same analysis on your farm, yourherd, and your cattle farm operation.Perform an external SWOT analysis of the cattle industry. Read the newsabout the livestock industry. Consult local agricultural magazines. Scan theInternet for information on the cattle market. The more informed you areabout what you are getting yourself into, the more prepared you will be forany surprises, challenges, and pitfalls there may be.Figure out where you are at and where you need to be.You need to know where you are at now, where you want to be, how to getthere, and how to know if you have arrived. Asking yourself these questionsand then defining each as a performance indicator will help you visualizeyour business plan as a journey. When doing this, remember that you haveto differentiate between your personal goals and your business goals.Start outlining your Cattle Farm Business Plan.
It should have three main sections: the Strategic Plan, the Operating Plan,and the Succession Plan. The Strategic Plan portion of your Cattle FarmBusiness Plan should include the Vision Statement, Mission, Values,Situational Analysis, Goals, Objectives, Critical Success Factors, and Plan ofAction. The Operating Plan needs to have the Production Plan, MarketingPlan, Financial Plan, Human Resources Plan, and Quality Plan. TheSuccession Plan is basically a continuity plan for your business in case it issold or in inherited in the event that its owner dies.Determine the type of farm ownership.There are several types of ownership: proprietorship, co-ownership, generalpartnership, limited partnership, trust, corporations, and joint ventures.Determine what kind of business organization your cattle farm will be andindicate this in your cattle farm business plan.Click Here For More Tips On Raising Cattle The Proper Way And Avoid Making Costly Mistakes