Small Farm Business Planning Templates And Instrucitons Page 34
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50D. Pricing Strategies
1. Establish strategic pricing strategies to maximize short- and long-term revenues, smooth
cash flow, and create a good long-term relationships with clients
a. Short term strategy – base price on competition
b. Long term strategy – figure out what it costs you to grow and price accordingly
2.To do: Develop sample price sheets to support cash flow revenue projections. Develop
different scenarios for price and product mix. (Set date.)
PART 3: TIME MANAGEMENT
A. Establish time management / project management procedures
1. Objectives of time management –
· Ensure professional and timely delivery of services
· Maximize opportunities to build on good relationship
· Minimize errors and misunderstandings
· Reduce the stress of a hectic work schedule
2. Time management tools and techniques: Need to consider options: Software, palm pilot,
calendars, etc. Define what will work for you, the business?
3. To do –
· A time needs and availability analysis for the first two years of operations. Make sure
that all of your assumptions match the cash flow worksheet and the farm plan.
· Discuss (options?) by____/____/____(date)
· Begin (what?) by____/____/____(date)
4. Time management considerations –
· 52 weeks x 50 hours a week equals 2,600 hours
· 3 weeks of vacation and sick equals 150 hours
· There are 2,450 work hours in the year
· 1 day a week marketing equals 490 hours
· 1/2 day a week administration equals 245 hours
· 1/2 day a week research/education equals 245 hours
· There are 1,470 farming hours left in a year
· The workload in agriculture is not spread out evenly
PART 4: FARM/CROP PLAN
PART 5: FINANCIAL MANAGEMENT
A. Financial management:
1. Define budgeting procedures. Discuss by ____/____/____(date)
2. Define cash flow management procedures. Discuss by____/____/____(date)
3. Define bookkeeping procedures. Discuss by ____/____/____ (date)
4. Complete cash flow budget by ____/____/____ (date)
5. Include the following –
a. Marketing plan: short-term, mid-term, and long-term needs
b. Budget for necessary technology and training
6. Update business plan, budgets, and cash flow projections often (target month)
34 | Unit 2.0
Small Farm Business Planning
Appendix 2
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