The financial success of dairy farms: business management and family succession

Management is the heart of every business and profitability is its oxygen, both working together and indispensable to keep us alive. Two aspects we must make sure that we are doing right are managing our input costs and preparing the next generation to take over our farms. These are not trivial goals, and we should explore every idea that could help us achieve them – which is why in this episode, with Jonathan LaPorte, M.Sc., we will discuss strategies for input purchases, management of financial reserves for the reduction of price risks, the engagement of younger generations in dairy farm operations, and plans for the transition of farm ownership.

What you'll learn:

1. Purchasing strategies for reducing input costs

2. Managing financial reserves on a farm

3. Starting a new dairy farm operation

4. Engaging the next generations in dairy farm operations

5. Transitioning dairy farm ownership

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Meet the guests:

MSc. Jonathan LaPorte

Experience

???○ Current: Farm Business Management Educator at Michigan State University Extension

???○ Past: Senior Farm Loan Officer (USDA, FSA); Agronomy Sales Specialist (Certified Crop Advisor)

Background

???○ M.Sc., Agribusiness (Kansas State University)

???○?B.Sc., Agribusiness Management (Michigan State University)

Connect with our guest on Social Media:?LinkedIn