1. Managing for Today and Tomorrow Goal Setting for Farm and Ranch Families* Session One Block One Goal Basics * Doye, Damona, Goal Setting for Farm and Ranch Families, Oklahoma Cooperative Extension Service Fact Sheet AGEC-244, Division of Agricultural Sciences and Natural Resources, Oklahoma State University, Stillwater Oklahoma, September, 2009. Publication available at http://osufacts.okstate.edu Or http://osufacts.okstate.edu/docushare/dsweb/Get/Document-1674/AGEC-244web.pdf

2. Goal Setting for Farm and Ranch Families Session Objectives What are Goals How to use Goal Setting Steps in Goal Setting Developing SMART Goals Prioritizing Goals Implementing Goals

3. What are Goals? What are goals – – A goal is a statement of what an individual or family want to achieve How to use goal setting – – Provide focus and direction for management – Serve as reference points – Aid decision making – Serve as a rallying point for the family or management team

4. Steps in Goal Setting Seven steps for setting goals – Assess where operation was in the past – Assess family, farm and ranch resources – Develop a general management plan – Identify and establish specific goals and objectives – Prioritize goals – Develop plans for action and implementing goals – Measure progress and reassess goals

5. Developing SMART Goals Specific Measurable Action oriented Reasonable Time frame

6. Prioritizing Goals Which goals are most important for family well- being Which are short term goals – Would they aid in meeting long term goals Which short term goals - conflict, impede long term goals Which short term goals do not support any long term goals Which goals are so important that they should be attained even if it prevents reaching other goals

7. Implementing Goals Making goals to lofty Trying to do to many things at once Overemphasizing quantitative aspects Vulnerability to unexpected events Failing to use all information Not including all decision makers Ignoring good plans

8. Goal Setting Worksheet

9. Summary Important to individuals and families – Family and business interrelationships Communication of individual goals and setting farm or ranch priority goals Revisit annually Goal directed management improves farm and ranch efficiency Feeling of accomplishment and pride