Making well-informed business decisions requires having accurate, up-to-date information at your fingertips. That goes for equipment, personnel, livestock...every facet of a farming operation, including land decisions. It's difficult to divorce yourself from the emotion tied to the land you cultivate; after all, you pour a lot of yourself into that ground, no matter whether it's owned, cash rented or share crop. Sometimes the numbers might tell that due to tightening margins, it's no longer advantageous to maintain possession of land that you've been cash renting. That's a tough thing to take in.
Water Street Solutions CEO Darren Frye has some insight on how to go by the numbers in a situation like this, following logic over emotion to give your business a smarter outcome. He shares that insight in his Finance First column on farmfutures.com.