Farm Business New Year’s Resolutions

By: Mark Mechling, Extension Educator, OSU Extension, Muskingum County

As we begin 2012, we look forward to new opportunities and challenges. Many of us develop resolutions (lose weight, stop smoking, spend more time with family) yet fail to achieve the impact we wanted. Why? Perhaps our resolutions are too vague or broad, not written down or too difficult to reach.

Resolutions and goals are similar. They are definite statements of how you plan to achieve your vision of the future. In management education they are referred to as SMART goals. They should be Specific, Measurable, Attainable, Rewarding and Timed.  Goals should focus your attention, energy and action on desired results.

Consider the following when making your new year’s resolutions or goals- Write them down, start small, share them with others, keep them in front of you on a daily basis and reward yourself when successful.

Here are a few management resolutions that you might want to consider adding to your list for the new year.

In 2012, I resolve to:

Participate in at least one OSU Extension management education program such as Annie’s Project or a landowner’s program on oil and gas leasing.

Conduct at least two family business meetings to discuss conflict resolution, job descriptions, succession strategies and other long range plans. Read the OSU Extension Fact Sheet by Chris Zoller on family business meetings at : http://ohioline.osu.edu/bst-fact/pdf/3612.pdf for additional information.

Complete a will. Surveys show that over half of Americans do not have a will. If you have one, review and update it with your attorney and family members.

Get to know at least one non-farming neighbor that I didn’t already know.

Convene an advisory group of key business partners- lender, tax advisor, attorney, Extension educator, grain or livestock marketer, feed representative, crop consultant, veterinarian and others- to discuss our current farm business status, marketing plans and future business strategies.

Maintain the farm business records on a regular basis so that decisions can be made using the best available information.

Read the Ohio Ag Manager (http://ohioagmanager.osu.edu), Ohio Beef Newsletter (http://beef.osu.edu), CORN newsletter (http://corn.osu.edu) and Buckeye Dairy News (http://dairy.osu.edu) on a regular basis to stay up to date on the latest Extension research and programming.

Best wishes for a prosperous 2012!

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