Taking Stock: Planning for the next phase of your

business

Mary PeabodyUVM 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 WAgN BUSINESS START-UP CONTINUUMCONTINUUM

Self-Assessment

Is Agriculture

a good fit?

Writing theBusiness

Plan

Financing theBusiness

Implementation

Long-termSustainability

Implementing YourExit

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…

The History of My Business

Taking StockPlanning for the next phase of your business.

Once participants have identified an area to work in we ask them to draft goals/objectives to drive their work.

Thanks!

• There is great value in placing the burden for learning on the student/participant

• You get more when you ask for more