Winter Podcast Recap

As the snow flies and the fields are resting, now is the optimal time to work on your farm business instead of working in your farm business. Sometimes, this means setting aside focused time to get inspired by recordkeeping, finances, and even thinking about new enterprises you want to try on your farm. 

Working on your business is best done from a holistic standpoint and it gives you as a business owner an opportunity to ensure the different parts of your farm align with your vision, values, and goals. Whether that’s the type of veggies you grow, pounds of meat produced, or how you sell products, it’s impossible to separate the numbers from the decision-making process. It should feel like your farm enterprises, finances, and systems are all flowing in the same direction (which is, hopefully, moving towards achieving your goals).

Here are our top five business-focused Shared Soil podcast episodes if you want to explore new enterprises, learn more about your business options, or get technical with agricultural business knowledge. All of our podcast episodes include written transcripts which are helpful for note-taking or reading along with the audio.

Grab a warm beverage, pencil and paper, or your spreadsheets, and spend some quality time getting to know your agricultural business through a fresh lens! 

Shared Soil Episodes: 

1. Timber! Kendall and Rebecca discuss the benefits of forest management plans for farmers with Andrew Fast, an Extension forest industry specialist. They explore how forested land can be integrated into farming operations, emphasizing the importance of understanding land assets and setting goals. Andy explains the process of creating a forest management plan, which includes resource assessments and prescriptions for action. He highlights the financial aspects, such as the cost of hiring a forester and potential tax deductions. They also discuss various forest products like maple syrup, firewood, and timber, and the importance of training and safety in forestry operations.
2. Depreciation Demystified Depreciation is the reduction in the value of business equipment over time, which impacts both taxes and financial statements. Kendall and Rebecca review depreciation with Sam Stoddard from Farm Credit East. They discuss special depreciation methods, building leases, and the importance of accurate record-keeping and financial management for farmers.
3. Cashflow, Collateral, and Character  Kendall and Rebecca speak with Charley Cummings, CEO of Walden Mutual Bank. They discuss the concept of "voting with your dollars" and its impact on sustainable finance and agriculture. He shares insights on lending practices, stressing the importance of long-term relationships and understanding the unique challenges of multi-generational farms. Cummings also emphasizes the need for farmers to understand cash flow, accrual accounting, and amortization.
4. Agritourism   Kendall and Rebecca discuss agritourism with Jada Lindblom and Gail McWilliam Jellie from UNH Extension. They take a look at its community and economic impact, as well as its many safety considerations. They stress the importance of proper planning, staff training, and community relations.
5. How to Fall in Love with Marketing  Kendall and Rebecca talk about the importance of marketing for farmers, emphasizing that it should be a key part of their business plan. They compare creating a marketing plan to planning a crop, highlighting the need for strategy, target audience identification, and regular updates. Jennifer Bosco-Webb, an expert in social media, shares her experience in building a personal business and stresses the importance of having a clear buyer persona and a well-planned marketing campaign. She recommends Facebook and Instagram for agricultural marketing, noting their ease of use and community-building potential. Their conversation also touches on the value of visual consistency, the role of graphic design, and the significance of understanding return on investment in marketing efforts.