January 2022 MilkLine Newsletter

FarmFirst Dairy Cooperative > News > MilkLine Newsletter > January 2022 MilkLine Newsletter

Turning the page on the calendar to a new year is refreshing and invigorating. It is a new year filled with ample opportunities to improve what we do and how we do it. It’s a chance to learn more about ourselves and to support others in achieving their goals.
With a brand-new year ahead of us, there are a few things we should consider on how we can make it our best year yet.
Prepare for the Best by Preparing for the Worst
While it is uncomfortable to discuss what a farm business would do if the worst would happen to any family owners or partners in the business, it is still important to not leave that conversation to a rainy day. Worst-case scenarios never give warning that they’re about to take place and being prepared helps make the best of any situation.
Building a farm-succession plan helps ensure the transition to the next generation is carefully thought out and helps build ideal conditions for it to take place. Asking the tough questions now allows for everyone’s goals to be heard and sets up the plan up for success in achieving each of the objectives outlined.
Begin by having a simple conversation with the other family members or partners involved in the farm and immediately schedule when the next conversation will take place. Dedicate time to building a thorough succession plan, regardless of how busy life seems at the time. Involve legal counsel to ensure the plan is properly vetted before moving forward and include your financial institution as well. If a will needs to be established, make a priority to do so. Have the uncomfortable conversations now so the tough decisions are already made without having to also deal with heartache and grief.
Delegate More to Stress Less
The number of tasks a farmer would set out to accomplish on any given day often gets mired in new tasks that pop up during the day, with plenty more waiting for attention tomorrow.
Become a master at your to-do list by delegating tasks to others on your team. As the lead decisionmaker on your farm you’ll want to keep up to date on finances, nutrition programs, dairy markets and so much more. Your time might not be best spent gathering information and reviewing data. Empower another team member with the responsibility of doing those things and to share their perspective with you on what is best for the farm. By involving them in the decision-making process, they will feel your confidence and trust in them. It’ll also lessen the load on your shoulders.
Work with professionals that can utilize their expertise and experience to get tasks done efficiently on the farm. Occasionally, the task might be best to outsource beyond the talent working on the farm. A great example would be building a dairy price-risk-management plan. Certainly, any dairy farmer can study the markets and make decisions but working with someone who has studied the markets and has several years of experience can provide the perfect insight to build a solid risk-management plan using a variety of the dairy insurance options available today, including Livestock Gross Margin (LGM), Dairy Revenue Protection (DRP), and Dairy Margin Coverage (DMC).
Often times, a dairy risk-management plan gets set on the back burner because farmers don’t fully understand it and honestly don’t quite have the time. The truth is there is far more to understand than a farmer will ever have time for and leaning into the talents of a seasoned expert is the best way to get started and to manage your risk strategy.
Take Time for Yourself
Every great leader paves the way for expectations on their farm leading by example. That is true in nearly every regard – animal care, sustainability efforts and especially the foundation of everything getting accomplished, through your work ethic.
Establishing a strong work ethic in your team is important and ensures that work is done well and efficiently. It is incredibly important for team members to have a strong work ethic on a farm, where there is always plenty of work to be done. However, taking time to rest and relax is also important.
Lead by example and show your team that as important as the farm is to you and as passionate as you are to be a farmer it is important to take time away from the farm’s responsibilities. Family and team members will realize themselves that taking a break away allows them to come back to the farm with a renewed sense of purpose and focus. Maintaining the work-life balance will also make them better, happier employees.
Make the most of the year ahead by embracing the concepts here beginning with the new year. No matter who we are, what style of operation we have or what our goals are, there is always ample opportunity to learn and help support others in becoming better.

View as PDF

header_ffdc_logo_white

FarmFirst Dairy Cooperative
4001 Nakoosa Trail, Suite 100
Madison, WI 53714-1381

Toll-Free: 1-800-525-7704
Phone: 608-244-3373
Fax: 608-244-3643
E-mail: info@FarmFirstCoop.com

Subscribe to our E-newsletter

FarmFirst keeps members and industry partners connected on top industry news through our weekly e-newsletter. Sent every Friday, our weekly digest features the latest cooperative news, program deadlines and updates on policies important to our members and our advocacy work. Special alerts and contests are also sent using our e-newsletter platform. Don’t miss out – sign up today!