Transcript Intro.ppt
SUSTAINABLE
BUSINESS PLANNING
WORKSHOP
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
The goal:
• To help producers and business managers
improve the management of their business
through business planning.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
The consensus:
• Business planning is important and valuable
for producers!
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
A business plan is particularly important
for:
• New or expanding businesses
• Creative, nontraditional alternative enterprises
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
The challenge:
• How to help a producer develop a business
plan?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
We have learned that business planning:
• Can be very time consuming
• Alternatively it can be expensive
• Or it can be both.
How can we effectively deliver business
planning assistance to producers?
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
The value of a Business Plan should
outweigh the time and cost required to
develop.
• Should facilitate change in a farm business
• Should improve management of the business.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
We have also learned that business
planning:
• Should be done by farm managers
• It should not be done for them.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
How do we motivate farm managers:
• To take the time
• Do the work
Needed to develop a business plan.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
Goals of this workshop:
• Share thoughts and experiences on how to
help producers with business planning.
• Learn to use the tools available to help.
• Provide additional resources to help you
deliver business planning assistance.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
Business Plans
• Frequently used to communicate the business
externally – to lenders, investors, partners
• Demonstrate the business has a plan and is
well managed
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
Business Plans
• Should be used by farm manager to improve
the management of the business
• Helps a manager think through:
– Where the business is at
– Where they want it to go
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
Helps Producers Develop a:
•
•
•
•
•
Strategic Plan
Operations Plan
Marketing Plan
Personnel Plan
Financial Plan
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
Building a Sustainable Business guide and
the FINPACK Business Plan:
• Include the five planning components
• Have considerable content to help with each
planning component
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Building a Sustainable Business
Guide
Includes:
• A comprehensive discussion of the
components of a business plan
• Worksheets to help think through your plan
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
Includes:
• A standard format to help develop and store
your business plan.
• Tips or questions to help you think through
your plan.
• Sample business plans
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
In addition, this workshop will provide
you:
• An instructor’s manual for delivering business
planning assistance
• A set of power point slides
• A video discussing the challenges and benefits
of developing a business plan
Copyright © 2003 Center for Farm Financial Management, University of Minnesota
BUSINESS PLANNING
Even with good tools the challenges of
time, motivation, and expense remain.
To help address these challenges we are
privileged to be able to hear Dave and
Florence Minar discuss their experiences
with developing a business plan.
Copyright © 2003 Center for Farm Financial Management, University of Minnesota