Ensuring all members of the farm operation are on the same page is critical to business success
When planning for the future of your farm, it’s important to look a decade ahead; according to Rick Dehod, a farm financial specialist with Alberta Agriculture and Forestry.
“Farmers often say they haven’t had a chance to work on their 10-year plan,” he told Call of the Land today. “Whether the next generation is ready to take over or you’re in the prime of your farming career, you need to ask yourself what the farm business will look like 10 years from now.”
When putting together a 10-year plan, it should include three key elements, Dehod said.