Ron Hook, Farm
Management Field Specialist, Northwest Iowa
Many women have become involved in the operation of a farm business with
little or no experience in the various aspects of management, which are so
important to the success of a farm business. These women have a desire
to learn more about the farm business so that they can be more of an equal
partner in managing the business.
Programmatic Response
Annie’s Project workshops were held in Sioux Center, Sheldon and Algona
during January-April 2005. The program included six 3-hour sessions
on a variety of management topics. The first two workshops were an
afternoon session in Sioux Center and an evening session in Sheldon. Topics
included goal setting, estate planning, financial statements, various farm
insurances, grain marketing, USDA programs and retirement planning. The
materials were presented by individuals whose jobs involved working with
many aspects of these topics.
Impact/Outcome
The workshops were attended by 42 farm women ranging in age 20-70. Attendance
included 8 in Sioux Center, 18 in Sheldon and 16 in Algona. The Sioux
Center/Sheldon group gave the program a 4.25 on a scale of 1 to 5 with 5
being “Very Valuable.” The Algona group gave the program
a rating of 4.33 on the same scale.
The following are responses by the participants to open ended statements, “I
now understand …
“I now understand …”
…how important it is to do and keep up our paperwork.
…more about most things in the farming programs.
…what to think about for future. Farming is expensive and time
consuming business.
…that I have a lot more to learn.
…that I need to get more involved beyond record keeping.
…more on the forward grain pricing.
…what the banks use to decide if they will loan you money or not. I
think that the ratios are good to know whether you are going to borrow money
or not.
…the mental stress a farmer goes through when planning a crop.
…how to do balance sheet ratio calculations and what my husband has
going on in his mind with markets.
…financial statements better.
…more about crop insurance options.
…how important it is to be knowledgeable about our own financial status.
“and I plan to …”
I plan to …change a lot of things on our farm.
…use this info to the best of my knowledge.
…speak up and ask questions to my husband.
…hopefully encourage some changes on the cash rent portion of land.
…finish getting our affairs organized so that if anything happens to
my husband or myself, our children will know where to find things and who to
contact.
…keep up to date records for everything. Make sure we do a business
plan and follow through it.
…get more involved in the farming operation.
…plan time to set up business plan.
…draw up a full listing of all our assets, life insurance, investments,
put it in a safe place and let our children know.
…get a will done – do estate planning-- get a mission statement
and get some financial goals.
…use the Finpak and Fast tools regularly in our operation. I will
pay closer attention to our ratios and be more involved with the crop insurance
and FSA programs.
…pass info gained on to my husband so he can benefit too.
…learn more about setting goals and writing out mission statements.
…pay closer attention to cash flow and try to make a marketing plan
to sell crops better.
…use my knowledge of income statements, cash flows, etc. by really looking
at the bottom line before purchasing something.
August 31, 2005
101 - Strategic and Organizational Management Development for Iowa’s Farm
Businesses
Page last updated:
July 8, 2006
Page maintained by Linda Schultz, lschultz@iastate.edu
