Bangs, Jr., David H. The Market Planning Guide: Creating a Plan to Successfully Market Your Business, Products, or Service
A business plan is essential to have in place before you seek to start up a farm business, no matter what else you've done by way of preparation. In today's world, animal agriculture is more complex and more variable than it was 100 years ago. There are changing markets, high costs, low profit margins, different ways to raise cattle, and niche markets. The type of business plan you make is up to you, but the following step-by-step process of making a proper business plan will help you in the long run.
Test your idea against at least two variables. First, financial, to make sure this business makes economic sense. Second, lifestyle, because who wants a successful business that they hate?
Setting goals is an important first step to improving your company's performance. However, unless they are backed up by specific action plans, your annual plan will just be a document that gathers dust. By breaking goals down and assigning responsibility for specific objectives, you'll be able to turn your business goals into reality.
Hitting and exceeding goals is rarely a matter of big events. Instead, it’s consistent progress over time with frequent small corrections. Use your lean business plan to set the highlights in strategy, tactics, and specifics; then follow up with regular review to make sure the details are going right in the day to day.