As a farm leader, you might be feeling that itch to grow the operation or branch out and diversify by starting a new side business. Maybe more family members are returning to the farm and they rely on the income, maybe it's a long-term goal for the farm, or maybe you've just got an entrepreneurial thirst that won't be slaked by simply adding more acres. Sometimes an opportunity for growth might even land right in your lap.
The real question is: How do you know when it's the right time to grow? That's a complicated issue which requires some analysis and evaluation to answer. In his latest Finance First column, Water Street Solutions CEO Darren Frye gives us five questions to consider in helping a farm leader determine if it's the right time to grow their operation.
Read the entire article and check out the other informative pieces he's penned over at FarmFutures.com.