FUNDING & PROJECTS - My Risk Library Entry

Managing Marketing Risks
 
Award Amount: $25,000 
Regional Center: Western Center for Risk Management Education
Grant Program: 2006 Competitive Grant Program

Project Directors: Richard Lattin
Email: sbdc@ceda-nv.org
Churchill Economic Development Authority
Download Full Report .pdf  Managing  Marketing Risks

 

Summary Results Project Steps Materials Delivery Area Comments
PROJECT SUMMARY
Nevada farmers face a tremendous risk as they convert from low-input crops such as Alfalfa( to high input crops that must be marketed to the urban areas. This project provided area farmers with:
1) Knowledge of potential markets to include Community Supported Agriculture(CSA), Urban buyer cooperatives, Farmer´s markets, Roadside Stands and Restaurant sales. Workshop trainers experienced with these venues provided specific information necessary to identify the appropriate markets for each farm participant.
2) Skills training to successfully enter these markets i.e., business plan development, financial considerations, marketing plans. Small Business Development Center(SBDC) consultants worked individually in workshops with farmers to develop comprehensive business plans to include financial data, marketing plans and identification of Unique Selling Propositions for each participant farmer. The objectives were met through a series of eight Workshops presented by facilitators experienced in each workshop subject area.
NUMBER OF PARTICIPANTS: 30
TOPICS COVERED
  • Product and enterprise diversification
  • Market analysis and outlook
  • Cash and futures pricing tools
  • Marketing strategies, plans and clubs
  • Direct, wholesale, and processing markets
  • Contract production, branded or certified marketing, and value-added enterprises
  • Financial records, analysis, and bench-marking
  • Capital and financial assets
  • Credit
  • Tools for managing legal liability
  • Leases, contracts and negotiation
  • Understanding of economic risks associated with new production technologies
  • Business and strategic planning
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