Crop Insurance Today August 2013 - (Page 23)
Sharing and Revising
Q: How should I prepare to
document, share and revise my plan?
This is the tenth in a ten-part series of articles on “The Steps of Farm Business
Planning.” The introductory article for the series was published in the November 2010
issue of Crop Insurance TODAY® and additional articles will be printed each quarter.
By Dr. Laurence Crane, NCIS
Business planning requires writing because
writing clarifies concepts, focuses thinking, and
reduces selective recall. It also helps identify
issues that otherwise may be overlooked. Documenting, that is creating a written record of
the decisions you make, the actions you intend
to take, and the assumptions upon which
they are both based, is essential to
good farm business management.
Identifying a structure to organize,
update, and share the information
needed to operate your farm is essential
to effective farm business planning.
This step encourages you to think about
how you can organize, document, summarize, share, and revise the information about
your farm business that is collected and developed during the planning process. This
• Documenting your business planning and
vision for the future;
• Preparing to share your
vision with others; and,
• Implementing a procedure for repeating
and updating/revising some or all of the
planning process on a regular basis.
One product of the planning process can
be a document which summarizes the owners’ thoughts about where the business is to go
in the long-term and the strategy to reach that
goal. Once prepared, the owners
will likely use the document
as they make decisions.
They also may find that
they use the information
to answer questions
posed by others, such
as family members, lenders, landlords, future
owners, partners/investors, employees, regulators, suppliers, and other people who have
an interest in the success of the farm business.
Preparing a written record of the ideas that
were developed during the planning process
involves cost—often the primary cost is the
time and frustration of recording the ideas.
However, a written record also offers benefits
which often outweigh the costs. These benefits include:
Table of Contents for the Digital Edition of Crop Insurance Today August 2013
"It could be, it might be, it is!" Baseball Insights for Crop Insurance
The PRISM Climate and Weather System An Introduction
Crop Insurance In Action
2012 U.S. Crop-Hail & MPCI Loss Ratio By State
2012 Research Review
Incorporating Crop Insurance Decisions into a Risk Management Plan
Step 10-Documenting, Sharing and Revising
Dave Snider Retires
Crop Insurance Today August 2013