AgVentures Building A Vision Financial Management and Analysis Workshop Series Developed by Financial Working Group UW-Extension F.A.R.M. Team (Farm and Risk Management Team) Lee Milligan, Carl Duley, Bob Cropp, Jon Zander, Gregg Hadley, Jenny Vanderlin

BAV-Audience Producers Producers –Improve: Financial Skills Financial Skills Problem Solving Skills Problem Solving Skills –Identify: Critical Issues Critical Issues Mission Statement Mission Statement Vision Statement Vision Statement Plan for Farm Future Plan for Farm Future

BAV-Audience Producers Producers –Evaluate: Financial Performance of Farm Financial Performance of Farm –Develop: Strategic Plan for Farm Strategic Plan for Farm

BAV-What Is It? 3 Day Workshop 3 Day Workshop 4.5 Hours (including lunch) 4.5 Hours (including lunch) Small Group Small Group (5-12 farms) (5-12 farms)

BAV-What Is It? Interactive Interactive Bella Acres Case Farm Bella Acres Case Farm Activities Activities Q&A Sessions Q&A Sessions

BAV-Program Evaluation 27 of 28 would use Strategic Planning concept in their farm business 27 of 28 would use Strategic Planning concept in their farm business Comments: Comments: –“I learned how to identify the key issues, barriers to those issues and how to make some real plans for solving those issues.”

Comments: Comments: –“I learned the importance of creating alternative solutions for areas for improvement before creating actions for solution.” –“Showed me how to make a strategic plan for incorporating my husband and myself into my parents operation. Having Bella Acres scenarios was great. It allows for real info without making those feel uncomfortable.” BAV-Program Evaluation Comments

BAV-Program Evaluation Producers Reported Average Increase on 5 point Likert Scale in understanding of: Net Worth, Income and Cash Flow Statements 3.88 pts Net Worth, Income and Cash Flow Statements 3.88 pts Net Farm Income vs Cash Farm Income 3.81 pts Net Farm Income vs Cash Farm Income 3.81 pts

BAV-Program Evaluation Producers Reported Average Increase on 5 point Likert Scale in Understanding of: Desired ROROE/ROROA/COCAP Relationship 3.75 pts Desired ROROE/ROROA/COCAP Relationship 3.75 pts Significance of Working Capital 3.69 pts Significance of Working Capital 3.69 pts

BAV-Program Evaluation Comments “BAV opened our eyes to a more comprehensive look at what direction business can choose and mechanics to get us there.”

“BAV made me think more about whether I am financially sound or just farming because that is what I do for a job. I paid the bills each month but this made me look at net farm income and profit.” BAV-Program Evaluation Comments, Con’t

“Looking at returns to assets and returns to equity have helped build our confidence in what we are doing.” BAV-Program Evaluation Comments, Con’t

Building A Vision Curriculum Contact: Jenny Vanderlin Center for Dairy Profitability UW-Madison

Building A Vision Curriculum Questions and Answers