With all the talk around interest rates, inflation and feed prices, I’d like to take some time to work through how they will impact your farm and the dairy industry as a whole in 2023.

The phrase “mental health” is becoming more talked about in the agriculture industry, but it’s still a subject that often leads to feelings of discomfort and embarrassment.

In my 30-plus years of working with farm families, the negative effects of farm distress on behavioral well-being and brain health have become quite apparent.

How often have you seen a highly skilled manager fail in leading their team? Some signs are high turnover, lax standards and low morale. How often have you seen employees or owners in charge of managing people struggle to connect with employees and keeping everyone aligned with the goals?

Farm profitability faces significant pressure in 2023 as availability and high costs for farm inputs continue to be concerns. Deciding when to buy products and at what prices is a challenge given global and domestic market uncertainty. To secure products at reasonable prices, consider creating an input purchasing plan.

Coaching is not about giving you an endless supply of advice and telling you what to do. The goal of any coach is to help short-term and then not be needed anymore.

It’s been quite a while since dairy operators have had to budget for interest rate expenses. But the Federal Reserve raised interest rates six times in 2022, and policymakers expect more to come in 2023 in an effort to slow inflation by increasing the cost of borrowing.

Unfortunately, there is no magic recipe that will guarantee the preservation of your family relationships and the perpetuation of the dairy. There are, however, five key ingredients that if not planned for will almost assuredly lead to blackened heartache, tasteless family dynamics and burned chances of the dairy succeeding generationally.

The start of a new year is always a good time to ask, “What do I want to do better in 2023?”