Transitioning a farm operation from one generation to the
next is no small feat. In a recent article published by Farm Futures, author Mike Wilson offers some advice for those faced
with this tricky task.
What is it that makes farm succession so difficult? Wilson
highlights three factors:
People who farm tend to be very private and
don’t easily …
For farmers seeking to increase their bottom line,
diversification might just be the answer. In a recent article published by Successful Farming, author Natalina Sents
offers some advice for farmers looking for new sources of income and
investments.
Complementary
Ag Business – Consider what new business you could establish using the land
and resources you already own. Sents offers …
Running a successful farming business is no small task. In a
recent article, Raylene Nickel offers some advice for increasing your financial
strength and profitability.
To start off, it’s important to develop a realistic picture
of the efficiency of your current operations. Consider income streams, where
you’re spending money, interest costs, living expenses, debt load, and
structure. Use this …
Does creativity
have a place in the manufacturing sphere? According to Jim Ludema and Amber
Johnson, in a recent article for Forbes,
the answer is a resounding “Yes.” The authors offer a glance at a company
called Crafts Tech, which is “one of the oldest continually operating tool
companies in the U.S.”
In 2014, the owners
of Crafts Tech set out …
Lean
manufacturing is a tactic often employed in the manufacturing industry. The
goal of the method is to minimize waste while maintaining productivity. This is
accomplished though continual process refinement. In a recent article from Manufacturing.net, Robert Logemann
examines five key principles of lean manufacturing:
Value – This principle refers to the need for manufacturers to
know their product and …
Disruption from
a multitude of sources is rife in the manufacturing industry. In order to
maintain success, leaders need to work hard to make careful, well-informed
decisions. In a recent article published by Forbes,
author Kweilin Ellingrud makes a suggestion for manufacturers: consider
zero-based budgeting (ZBB).
Why should
manufacturers turn to ZBB? Ellingrud explains that manufacturers who employ
this method are …
Are you considering investing in a guidance system for your farm? Before you make your decision about acquiring a precision GPS system, here are some things to consider:
How much will it cost? Is the cost justifiable for your business? Will the value that the system adds make up for the cost of acquiring …
For manufacturers, pursuing revenue growth is a must. In a recent article for Manufacturing.net, author Kyle Uebelhor offers some strategy recommendations for manufacturing leaders as we enter the new year.
Connect with your top clients and sales team. Glean key information from your clients and work with your team to establish a strategy for …
BACKGROUND ON SOUTH DAKOTA VS. WAYFAIR
Earlier this summer, the U.S. Supreme Court ruled in the landmark case South Dakota vs. Wayfair that the “physical presence test” for determining if a seller is required to administer sales taxes is “incorrect.” States may now legally require sellers to administer sales taxes, even if the seller has no in-state physical …
The $1.5 trillion tax reform legislation known as the “Tax Cuts and Jobs Act” (TCJA) represents the biggest change to the tax code since 1986. While the implications for businesses are broad and complex, we’ve summarized some of the most common tax reform questions for manufacturers:
What are the top issues manufacturing companies need to know about tax reform?
The …
