Business Management
Slippery, muddy and snow-covered surfaces present safety hazards on the farm. This article includes tips to safely navigate treacherous winter conditions.
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Interest rate outlook for 2025 – higher for longer
The Federal Reserve reduced rates by 1% in late 2024 but paused further cuts due to inflation concerns. Long-term interest rates have risen, driven by higher term premiums, economic risks and inflation expectations. Analysts are divided on whether the Fed will resume cuts or hike rates in 2025.
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You are one of a kind, or at least one of four kinds
Exit plans are not one-size-fits-all. There are four types of owners, which are characterized by prioritizing getting the most money, continuing to work, growing the business to sell later for a higher value and ready to leave now.
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Who is responsible for what on your farm?
Use the RACI chart described in this article to delegate who is responsible, accountable, consulted and informed of projects and tasks.
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Are you setting clear expectations? (Your succession plan depends on it!)
Setting clear expectations is very important to keep everyone on track and to avoid situations that can derail the team and may end up affecting your succession plan.
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Maintenance tips to keep equipment running properly
Proactive steps to prevent fatigue can increase worker safety when working on or around farm equipment, in addition to following the manufacturer’s guidelines for specific maintenance requirements.
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Grazing leases, fencelines and handshakes
Handshake deals are great. They are even better when backed up with a written agreement.
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Addressing employee complacency
When an employee’s performance begins to drift to unacceptable levels, it may be due to complacency. Even if your business is not currently experiencing any levels of complacent behavior, choose a few of these activities to show your employees that you care about them and desire to create a workplace that is very enjoyable, rewarding and engaging.
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Using common ground to write agreements you can understand
Ease potential family conflicts by finding areas where everyone can agree, whether the agreement is related to bringing in the next generation, marriage, compensation or healthcare directives.
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Preventing sprains and strains on the farm
Avoid injuries by limiting repetitive, high-force movements and awkward postures. Also consider utilizing mechanical equipment and modifying techniques to reduce stress on the body.
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