Farm and agricultural businesses often have high capital investments in land, machinery, livestock, and miscellaneous equipment. The typical Ohio farm has over $1 million in capital assets. These assets are usually owned and held by multiple members of a family. With the rising divorce rate (almost 60%), it is in the long term financial interest to protect business assets from a divorce of one of the business partners.
Goal setting is a critical step in the strategic planning process of any agricultural business. While a mission statement steers the direction of the business, it tends to be rather abstract. Goals are more concrete and are therefore easier to comprehend and to act on. Ultimately, goals will be the standard by which we will measure our progress in the agricultural business, so goal setting deserves the utmost attention.
There is nothing more satisfying than a warm bowl of homemade soup. Many of us are used to “opening a can” and heating up soup for a quick meal. Every family has their favorite recipes, but are they all able to be home canned safely? The answer depends on the ingredients.