AgVentures Building A Vision Financial Management and Analysis Workshop Series Developed by Financial Working Group UW-Extension F.A.R.M. Team (Farm and Risk Management Team) Lee Milligan, Carl Duley, Bob Cropp, Jon Zander, Gregg Hadley, Jenny Vanderlin BAV-Audience Producers – Improve: Financial Skills Problem Solving Skills – Identify: Critical Issues Mission Statement Vision Statement Plan for Farm Future BAV-Audience Producers – Evaluate: Financial Performance of Farm – Develop: Strategic Plan for Farm BAV-What Is It? 3 Day Workshop 4.5 Hours (including lunch) Small Group (5-12 farms) BAV-What Is It? Interactive Bella Acres Case Farm Activities Q&A Sessions BAV-Program Evaluation 27 of 28 would use Strategic Planning concept in their farm business Comments: – “I learned how to identify the key issues, barriers to those issues and how to make some real plans for solving those issues.” BAV-Program Evaluation Comments Comments: – “I learned the importance of creating alternative solutions for areas for improvement before creating actions for solution.” – “Showed me how to make a strategic plan for incorporating my husband and myself into my parents operation. Having Bella Acres scenarios was great. It allows for real info without making those feel uncomfortable.” BAV-Program Evaluation Producers Reported Average Increase on 5 point Likert Scale in understanding of: Net Worth, Income and Cash Flow Statements 3.88 pts Net Farm Income vs Cash Farm Income 3.81 pts BAV-Program Evaluation Producers Reported Average Increase on 5 point Likert Scale in Understanding of: Desired ROROE/ROROA/COCAP Relationship 3.75 pts Significance of Working Capital 3.69 pts BAV-Program Evaluation Comments “BAV opened our eyes to a more comprehensive look at what direction business can choose and mechanics to get us there.” BAV-Program Evaluation Comments, Con’t “BAV made me think more about whether I am financially sound or just farming because that is what I do for a job. I paid the bills each month but this made me look at net farm income and profit.” BAV-Program Evaluation Comments, Con’t “Looking at returns to assets and returns to equity have helped build our confidence in what we are doing.” Building A Vision Curriculum Contact: Jenny Vanderlin Center for Dairy Profitability UW-Madison 608-263-7795 Building A Vision Curriculum Questions and Answers