Ranch Planning & Evaluation

Introduction ● Everyone plans and evaluates ● Few take a formal approach to planning and evaluation

A Formal Approach ● A formal approach to planning & evaluating can be valuable for: – Loan application – Marketing – Risk assessment & aversion – Resource management

The Chick or the Egg ● Which comes first, planning or evaluating? ● To get where you want to go, you have to know where your journey begins.

Planning & Evaluating ● Ranch history ● Mission statement ● Resource inventory {benchmarks} ● Critical control points ● S.W.O.T. ● Setting goals and objectives ● Gap Analysis

Ranch History ● Summary of when things began and how things have changed – Ownership [purchased, passed down generations] – Expansion/contraction [land, herd, facilities] – Direction [breeding program, marketing]

Mission Statement ● Tell's your clientele about you and the product you produce, highlighting what you produce and how you produce. ● Use keywords that connect with your client. – What do I produce: calves – When do I market: weaning – What standards do I use: preconditioning, Beef Quality Assurance certified, Age and Source verified Mission Statement Tasty Beef Ranch is a 2 nd generation family owned and BQA certified ranch that supplies preconditioned, age and sourced verified calves, for the backgrounding and feedlot finishing segments of the beef industry.

Resource Inventory - Benchmarks ● Natural resources – Images {aerial photos, topographic maps, soil survey maps} – Pasture plant species composition inventories – Acreages {pastures, hay meadows, timber, water} ● Financial resources – Balance sheets, Net worth statements ● Livestock resources – Inventory, production and health records ● Lifestyle and family resources – Vacation time, Weekend hours working

Critical Control Points ● Beef IQ check sheets – Practices that strengthen benhmarking, goal setting, and gap analysis.

S.W.O.T. (cumulative or by resource area) Strengths and weaknesses = current situation Opportunities and threats = future Strengths 90% calf crop Weaknesses Feed hay 120 days/year Purchased feed Opportunities Incorporate winter forages Threats Age Current Current & Future

Goals and Objectives ● Goals are general ● Objectives are SMART – Specific, Measurable, Attainable, Realistic, Timely ● Don't forget to set lifestyle goals and objectives Goal Increase weaning weight not specific but measurable with no time frame Objective Increase 205 day adjusted weaning weight 50 pounds within 3 years by replacing sires and applying EPD's in sire selection Specific, measurable, attainable, realistic, and timely

Gap Analysis ● Tool to compare goals with current level of output. GOALTARGET STATUSCURRENT STATUS Calving Season60 days90 days Weaning Weight Vacation2 week0 week

Plan to Action ● Organize everything in a binder ● Develop priority area summaries ● Once goals are in place, keep them visible. – Bulletin board – Refrigerator door