Business Planning

In the opening session of a recent Annie’s Project Class I coordinated, we addressed the topic “The Seven Habits of Highly Effective Farm Women.” It was a take-off modeled on Steven Covey’s (1992) book, “The Seven Habits of Highly Effective People.” In his book, Covey highlights the seven habits of great managers. I think this is a valuable read for any business person. Another great resource for Ag business entrepreneurs is “The E-Myth” a book by Michael Gerber. His book talks about how most of us believe we can succeed as entrepreneurs, when in reality most small businesses fail.

The Maryland Rural Enterprise Development Center, is a virtual rural business development center of the University of Maryland Extension presenting the latest and most successful business development innovations and support for Maryland's agriculture and food systems enterprises. The mission of the University of Maryland Extension’s Maryland Rural Enterprise Development Center (MREDC) is to improve rural prosperity in Maryland.

Summertime and the season is busy. Planting, harvesting, marketing, coordinating employees, and dealing with customers leave little time in the day to prepare for the busy fall agritourism and direct marketing season. But, now is just the right time to plan ahead for the Fall “crunch” time.

While the holiday season may seem a ways off, the line between when customers shop and when they take offense to holiday décor in stores is becoming a blurry one. The National Retail Federation reports that every year, about 40 percent of customers begin their holiday shopping before Halloween.

Annie’s Project is a nationally recognized and accomplished farm management program for women. It provides education, tools and resources for women in agriculture to gain more knowledge of farm business operations. Annie’s project empowers participants with the knowledge to make educated decisions for their family and future.

Let's take a closer look at technology for growing your business. Businesses everywhere are beginning to incorporate smartphone, iPad, social media and digital technology into their business and marketing plans. Agriculture and rural businesses are no different.

Processing For Profits-An Assessment tool and guide for small-scale on-farm food processors This publication addresses product development, manufacturing, understanding the food safety system, labeling, acidified food, FAQs about Maryland’s food regulations, specific Maryland processed farm products, business planning, and marketing for specialty food producers and processors. Any producer interested in the potential and pitfalls of on-farm and value-added food processing will find this new resource helpful in their planning and implementation process.

Business organization structures can provide many uses in agriculture, but the majority of Maryland farmers do not utilize one. Utilizing the proper one can help limit liability for the farmer, protect personal assets from business liabilities, and provide a mechanism to transition the farm to the next generation. Picking the right business structure can be a difficult proposition for a business owner.