Lesson 8: Financial Planning: Managing the Ranch as a Business (8 contact hours)

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Whether you are managing your personal finances, a mom and pop potato farm or a multi-national corporation, financial planning is the single most important annual activity.

No matter what walk of life you come from, there is information here that, if diligently applied, will recoup your tuition for our entire core curriculum many times over.

We begin with a general discussion of the fundamentals of financial planning—things like: the psychology of the planning and the two phases of the planning process.

From there we continue with an outline and description of what needs to happen at five (and an optional sixth) preliminary planning sessions.

We continue by describing how your strategic goal aligns your financial decisions and how our testing guidelines can reduce decision making stress.

After a brief introduction to the forms that we use in financial planning (worksheets, the annual income and expense plan, the livestock production worksheet, details of livestock breeding operations, and control sheets), we proceed with the nuts and bolts of creating your plan.

What follows is a procedure for creating a total ranch plan that accounts for both money and biological capital. We outline a detailed, 14 step protocol for getting your plan on paper.

Finally, we conclude with monitoring your plan to ensure profit.

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