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Making Your Adult Program Indispensable: All-Year-Round

Making Your Adult Program Indispensable: All-Year-Round. Presented to the Ag-Ed Department – University of Missouri-Columbia Thursday, June 28 th , 2007 John Hobert Farm Business Management Instructor Riverland Community College-Kenyon FBM Department. Welcome from the Gopher State!.

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Making Your Adult Program Indispensable: All-Year-Round

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  1. Making Your Adult Program Indispensable: All-Year-Round Presented to the Ag-Ed Department – University of Missouri-Columbia Thursday, June 28th, 2007 John Hobert Farm Business Management Instructor Riverland Community College-Kenyon FBM Department

  2. Welcome from the Gopher State!

  3. My Student Work Area:

  4. Who is John Hobert?Cannon Falls, MN • Originally from Charles City, Iowa. • Attended Mason City Junior College from 1964-1966. • Attended South Dakota State University in Brookings, South Dakota from 1966-1968. • Served in Republic of S Vietnam 1969-1970. • Taught Agricultural Education from 1970-1994 at Cannon Falls Sr. High School, Cannon Falls, Minnesota. • Riverland Community College 1994-Present. • Currently work with 50+ farming operations. • Currently President of NFRBMEA.

  5. MN FBM Regional Setup: • 1 – Northwest • Northland CC-Thief River Falls • Ron Dvergsten • 2 -- Northeast / East Central • Central Lakes CC-Staples • Del Lecy • 3 -- West Central • Ridgewater CC-Willmar • Jim Molenaar • 4 – Southwest • MN West CC-Jackson • Al Brudelie • 5 -- South Central • South Central CC-Mankato • Al Brudelie • 6 – Southeast • Riverland CC-Austin, Albert Lea, Owatonna • Peter Scheffert

  6. Following the Annual RCC-Kenyon FBM Banquet • Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 1: Review the SE Minnesota 2006 Annual Report.

  7. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 1: Review the SE Minnesota 2006 Annual Report. • Tab 2: Review the 2006 Calendar Year Farm Report Card.

  8. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 1: Review the SE Minnesota 2006 Annual Report. • Tab 2: Review the 2006 Calendar year Farm Report Card. • Tab 3: Review Student 2006 FINAN Reports.

  9. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 1: Review the SE Minnesota 2006 Annual Report. • Tab 2: Review the 2006 Calendar year Farm Report Card. • Tab 3: Review 2006 Student FINAN Reports. • RankEm Personalized Percentile Rank Report.

  10. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 1: Review the SE Minnesota 2006 Annual Report. • Tab 2: Review the 2006 Calendar year Farm Report Card. • Tab 3: Review the 2006 Student FINAN Reports. • RankEm Personalized Percentile Rank Report. • Personal Balance Sheet

  11. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Review the SE Minnesota 2006 Annual Report. • Review the 2006 Calendar year Farm Report Card. • Review the 2006 Student FINAN Reports. • RankEm Personalized Percentile Rank Report. • Personal Balance Sheet • Personal FINAN Report

  12. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 1: Review the SE Minnesota 2006 Annual Report. • Tab 2: Review the 2006 Calendar year Farm Report Card. • Tab 3: Review the 2006 Student FINAN Reports. • RankEm Personalized Percentile Rank Report. • Personal Balance Sheet • Personal FINAN Report • Personal Cash Flow Projection

  13. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 1: Review the SE Minnesota 2006 Annual Report. • Tab 2: Review the 2006 Calendar year Farm Report Card. • Tab 3: Review the 2006 Student FINAN Reports. • RankEm Personalized Percentile Rank Report. • Personal Balance Sheet • Personal FINAN Report • Personal Cash Flow Projection • Personal FINAN Graphs/Barometer Charts

  14. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 4: Review the student’s farm records. • Discuss accuracy, problem entries, & completeness.

  15. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 4: Review the student’s farm records. • Discuss accuracy, problem entries, & completeness. • Tab 5: Misc. Farm Information • Custom Rate Information • Factors That Lead to Profitable Farms • Student Farm Visit Schedule

  16. Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 4: Review the student’s farm records. • Discuss accuracy, problem entries, & completeness. • Tab 5: Misc. Farm Information • Custom Rate Information • Factors That Lead to Profitable Farms • Student Farm Visit Schedule • Tab 6: Current Year Taxes

  17. During the next year on subsequent farm visits: • Review our RCC-Kenyon Student FBM Notebook for the Current Analysis year with student enrollees: • Tab 7: Evaluation Tools • 2006 FINBIN Report on Minnesota Farm Finances. • How Did Minnesota Farms Stack Up? • How Did Your Farm Stack Up? • Quarterly Cash Flow Monitoring Sheet follow-up. • Balance Sheet, Livestock and Crop Enterprise Historical Trends. • Using RankEM to Set Short Term Goals. • Instruct the use of FINBIN sorts to benefit students.

  18. Include a Marketing Discussion at Each Scheduled Farm Visit: • Reinforce their marketing strengths and weaknesses year around: • Review Daily Marketing Charts • Weather Review: Past Year, Past Month, Current, GDDs. • Grain Charts: Crop Condition Reports, Current Prices, Seasonal Highs & History, Basis, Probabilities, Supply & Demand Reports, Rust Update. • Dairy Charts: Monthly Class III Pricing, Current Class III Milk Price Graphing, Probabilities, MILC Historical Charting, Historical Milk Prices.

  19. A Continual Reminder! • Think marketing!Watch markets daily! • Know your costs!Utilize your analysis! • Establishing a price where we make a ‘profit’ is the key!Think profit gaps! • What are your trigger prices?Lock in prices! • Getting the top price will not be possible!Control your emotions! • Sell more often in smaller quantities.Spread your marketing period further! • Don’t become over-whelmed with data overload!Use strategies that have worked over time and which have strong probabilities behind them!

  20. Typical Farm Appointment Agenda: Six Week Rotation • Typical farm appointment is 2 ½ hours: • Daily (Current) Market Update. • Utilize charting discussed previously. • Farm Accounting Training, Review and Evaluation. • Work toward making your Close-Out Season efficient. • Farm Evaluation Tools (Continual Financial Review). • Select from Tool Box discussed previously. • Mini-Unit of Instruction • How to Handle High Income Years.

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