Some years you make money; some years you don’t – that’s the nature of agriculture, right? Not so, says Nate Riggan, certified public accountant and owner of Pointguard Financial.

Riggan’s firm serves as outsourced chief financial officers for businesses. He says while there are challenges common to all businessmen, with the same set of challenges one farm will show consistent growth and profit, while another farm in the same market will lose money. Why is that? Riggan says farms that struggle show common symptoms, which include:

• Not being sure how to impact profits other than by increasing revenues or decreasing expenses
• Financial reporting is an afterthought with limited or no interpretation
• There is cyclical performance, and the owner isn’t sure what to do to change it
• The business doesn’t operate from a focused monthly budget, where resources can be planned for maximization

Continue reading here – Progressive Forage Article January 2017