How do you write a farm business plan?

To write a farm business plan, craft a mission statement, and formulate short-term and long-term goals for your business. Include information about your background, a well-defined business strategy and a specific implementation plan.

1. Craft a mission statement

   Your mission statement should include the reason your farm exists, the purpose it serves and what you hope to achieve with your farm. Put considerable thought into this statement, as it should reflect your values and the identity of your farm.

2. Include background information

   List the equipment, land and livestock that you currently own. Give a brief history of your farm and an overview of your current day-to-day operations.

3. Formulate goals

   Put your short-term and long-term business goals in writing. Short-term goals are things you hope to achieve on your farm within one year, and long-term goals generally take more than a year to accomplish. Make sure your goals are specific and attainable, and make sure they can be measured.

4. Devise a strategy for success

   Base your strategy on sound research. Use industry trends and an understanding of the competitive landscape to determine where your farm fits into the marketplace.

5. Develop a step-by-step plan

   Make a list of the ways that you plan to achieve your strategy. Keep in mind how each step affects financial results and contributes to the likelihood of achieving your goals.