Our farming environment has changed. Today's farm leader faces challenges and opportunities that simply wouldn't have come up on the farm of yesteryear. A successful farm leader in this environment approaches the farm as a business and functions as sort of a farm CEO, making analytical decisions while keeping the meaning and tradition of farming alive.
These farm CEOs rely on unbiased resources to make sure they have the right plans and structures in place to move the farm forward toward its goals. Among these resources might be a team of trusted advisors and up-to-date, accurate financial information. We're not necessarily talking about simple tax records or the farm's books. We're talking about carefully prepared, forward-looking projections.
Water Street Solutions CEO Darren Frye recently penned a more in-depth article about this on his Finance First blog. Read it at FarmFutures.com.