If the opportunity arose for you to acquire an extra 1,000 acres, what would you do? How long would it take to make a decision which way to proceed? How well do you know your farm's current financial situation in order to assess the potential impact of acquiring new land or equipment, or some similar scenario? Unless you have up-to-date financial information available, it might be challenging to gather the data before a beneficial opportunity passes you by.
Darren Frye shares a few of the action steps you can take, along with the aid of a financial expert, to help ensure your operation is prepared to analyze the viability of new opportunities, in this week's Finance First blog at Farm Futures.