Now, three years into the economic reset, what’s around the corner and down the road with the global and domestic economy, land values, cash rents, and the overall bottom line? This session will examine the economic and financial picture of both short and long run. What are the adjustments producers and lenders must make to position for success. A new look at burn rate not only on working capital but also on core land equity will be provided along with trends that will impact the industry now and by 2025. Also, find out how to be a better borrower in these economic times. Come with your questions to this high energy session that will get you prepared for one of the most critical periods in agriculture.
POSITIONING FOR SUCCESS
Macro Clinic Video Blog: http://agstar.com/edge/
Road Warrior of Agriculture: www.cornandsoybeandigest.com
Ag Globe Trotter: www.northwestfcs.com
Dave’s GPS & Dashboard Indicators: www.farmermac.com
Dr. David M. Kohl
Professor Emeritus, Agricultural and Applied Economics
Virginia Tech, Blacksburg, VA
(540) 961-2094 (Alicia Morris) | (540) 719-0752 (Angela Meadows) | email@example.com
February 9, 2017
Four Cornerstones of Success
Crossroads for a Better
Better Borrower/Business Questions: Yes No
1. Do you have a one page recovery plan?
2. Do you have business goals for one and five years?
3. Do you have a projected cash flow?
4. Do you check credit score and get report?
5. Do you practice modest family living?
6. Do you invest in productive assets?
7. Do you work with a team of advisors?
8. Are you open to education and seek education opportunities?
9. Do you plan, strategize, execute, and monitor?
10. Do you have an accurate balance sheet and income statement?
establish or update
family, business, personal
six degrees of goal setting
Family Living Budget
$65,000 to $90,000 average
high & low - $60,000 competitive edge
non-farm capital expenditures
Family Living Rule
Source: Nebraska Farm Business, Inc. www.nfbi.net
2015 Family Living
Time Management Rules
part-time: small business owner- 500/1000
full-time: 3,000/500 hour rule
high tech: 2,500 hour rule
younger & older generation views
business and lifestyle
Financial Tips for Women
Are you investing 5%-10% of net farm income outside of
the farm business?
Do you teach the 50-25-25 rule of finance to your
Do you plan to have your kids pay for some of their
Do you know what you are financially obligated for?
In your family transition plan, do you follow the 3-1-1
Do you meet with lender and financial advisor in person