| PROJECT SUMMARY |
Business plans are becoming indispensable tools for producers to articulate their mission, goals and business aspirations to not only lenders and potential outside investors, but also to their own family and management team members. Yet assembling and writing a business plan is a complex and demanding task that often seems overwhelming. We used a combination of workshops and one-on-one coaching to guide twelve particant families through the process of writing a business plan. Attendance and participation by multiple family members, as a team, was strongly encouraged. The target audience were farmers and ranchers in the Treasure Valley region of Eastern Oregon and Western Idaho. Five, three-hour workshops were held and the series culminated in six producers actually completing a written business plan which was reviewed and critiqued by a panel of lenders, accountants and Extension educators.
A post project survey questionnaire will be sent to all participants of this project during the winter 06/07. We will attempt to probe for changes in financial and risk management behavior that resulted from participation in this project as well as barriers and impediments to applying the tools presented in ongoing business management.
Additional presentation materials will be collected and added to the reporting site during Fall 06. |
| NUMBER OF PARTICIPANTS: 12 |
| TOPICS COVERED |
| Product and enterprise diversification |
| Financial records, analysis, and bench-marking |
| Capital and financial assets |
| Credit |
| Business and strategic planning |
| Interpersonal, family and business relationships |
