Farm Business Planning, University of Maryland
Planning is essential to any business, no matter how large or small the inventory, payroll, and bank account. To be successful, farm operators must know their current position and future plans. Thinking about your plans is not enough! Taking time to formulate ideas, evaluate your business, devise a strategy, and anticipate possible problems will help your business be successful.
This workbook was designed so that the thoughts and objectives for your business can be organized and thoroughly documented. In the long run, your business plan will serve many purposes, such as: defining a new business; setting goals and planning steps to achieve them; evaluating the effectiveness of business and marketing strategies; setting a direction for the business for the next five years; planning, growth and development for established businesses; and supporting a loan application.