Farmers After Hours: Profitability and Financial Fundamentals
11/18/2020
Green medium-sized tractor plowing fields in the summer with blue sky and white clouds.
 

Managing your farm in today’s increasingly competitive market is challenging enough, not to mention the additional stress organizing your farm’s finances may bring on. To help bring you some relief and useful resources, Michigan Farm Bureau’s Foundation for Agriculture and GreenStone teamed up to host a Farmers After Hours webinar series focused on Profitability and Financial Fundamentals.

 

“Michigan Farm Bureau and the Michigan Foundation for Agriculture appreciate GreenStone’s partnership and support of the Farmers After Hours series. The latest edition focused on financial fundamentals and profitability with a goal of meeting farmers where they are with real, pertinent information and setting them up for success.” Says Kate Theil, Development Manager of Michigan Foundation for Agriculture.

 

This 8-week series kicked off in September with a live panel where farmers, Rich Baker and Trevor Gruber, shared their farm experiences, their story of overcoming hardships in agriculture and the resources and team they leaned on to help them through. Each week after, industry experts on finance, accounting, lending, business planning shared valuable to guide you through tough times. From creating a balance sheet to incorporating business planning into your monthly routine and even tips on maximizing your farm’s assets, these short, 20-minute videos cover finance fundamentals and advice you’ll want to know to set your farm up for a successful year.

 

Didn’t get a chance to tune in live? You can watch each of the recorded webinars below to get your farm finances on track for the new year:

  • Farmer Panel - Young farmers, Rich Baker from St. Joseph County and Trevor Gruber from Tuscola County share how they overcame challenges they didn't expect to face due to the pandemic and the resources they used to get them through on top.
  • Understanding Your Balance Sheet - Led by GreenStone's Financial Services Officer, Rich Dubke, this video focuses on the importance of creating a balance sheet, maintaining it and the steps to getting started.
  • Preparing for Tax Season - Mike McKeown from McKeown Kraai Professional CPAs offers tips on how you can begin preparing your farm for tax season and why you should get started sooner rather than later. 
  • Best Accounting Practices - GreenStone's  VP & Managing Director of Tax & Accounting, Chad Zagar, explains how small changes can lead to big improvements on your farm's accounting. 
  • Innovative Revenue Sources- Join Director of MSU Product Center, Mollie Woods, as she shares ideas and examples of how you could add new streams of revenue on your farm. 
  • Learning the Lending Process - Learn what  you'll need to prepare before sitting down to get a loan and what you can expect that conversation to look like with GreenStone's Senior Financial Services Officer, Sara Trattles. 
  • Ask-the-Expert Panel - Watch the final series as all the experts listed above share takeaways and quick tips essential to your farm's business success.

 

GreenStone is committed to providing the next generation of agriculture the tools  and  information needed to succeed in today's market. For more resources, check out GreenStone's Young, Beginning and Small Farmer program and learn how our Grow Forward Grants can provide educational opportunities crucial to your farm's success.

 
 


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