M.S.
Agricultural Economics and Extension Education
University of Tennessee
1990/1991
| Office: |
3307
Nelson |
|
Telephone: | 919/515-6096 |
| Fax: | 919/5156268 |
| E-Mail: | Gary Bullen |
-
Goal Setting
Planning and Goal Setting for Small Business (U.S. Small Business Administration), The success of a business will depend on its long-range goals for sales, profits, competitive position, development of personnel and industrial relations. To accomplish these goals, the company will need to identify intermediate goals that it can work toward each year.
http://www.sba.gov/library/pubs/mp-6.pdf
Goal Setting for Farm and Ranch Families (Damona Doye, Extension Economist and Professor, Oklahoma Cooperative Extension), Many would not leave home on a trip to an unfamiliar destination without a road map. They would want to know where food, gas, and lodging were available. An arrival time would be estimated to inform family and friends. What about business? A well-developed “road map” for a farm or ranch is needed. Steps for generating goals to guide farm ranch decision making follow.
-
SWOT
Agribusiness Planning - Providing Direction for Agricultural Firms (Penn State, Agricultural Research and Cooperative Extension), Future outcomes are a function of today’s decisions. Although there is a high degree of randomness and uncer- tainty associated with the future, you can increase the probability of a successful outcome by planning ahead.
-
Feasibility Analysis
Assessing the Feasibility of Business Propositions (By Vincent Amanor-Boadu, Ph.D., Department of Agricultural Economics, Kansas State University), It is becoming increasingly important that producers are given the appropriate tools to succeed in value-adding initiatives as they are encourage to embark on these initiatives. This document presents a generic process for conducting effective feasibility studies.
http://www.agecon.k-state.edu/accc/kcdc/PDF%20Files/Feasibility%20Reports.pdf
Feasibility Study Outline (By Don Hofstrand and Mary Holz-Clause, Iowa State University, University Extension), A feasibility study is an important step in business development. What is a Feasibility Study will help you understanding the concept of a feasibility analysis and what it means for business development. When to Do and How to Use a Feasibility Study provides you with a framework and the decision points needed for using a feasibility analysis in business development.
http://www.extension.iastate.edu/agdm/wholefarm/pdf/c5-66.pdf
Starting a Small Business: The Feasibility Analysis (By Michael D. Reilly, Ph.D. and Norman L. Millikin, Ph.D., College of Business, Montana State University-Bozeman), Healthy local economies stem from the formation of new businesses. Unfortunately, the success rates for small businesses are typically quite low. Depending on which statistics you believe, the chances of a new business surviving for five years are between 30 and 50 percent.
-
Business Start-Up
Start-Up and Annual Expense Worksheets (Missouri Small Business Development Center), This worksheet will help you estimate your start-up costs. List the costs of items you have already purchased in the “purchased” column and those you still need in the “needed” column.
http://www.missouribusiness.net/docs/startup_annual_expense.pdf
A Primer for Selecting New Enterprises for Your Farm (By Tim Woods and Steve Isaacs), This publication is designed to help producers evaluate new enterprises for their farms or family businesses. It is based on a set of worksheets to help evaluate the Profitability, Resource requirements, Information needs, Marketing decisions, Enthusiasm for, and the Risk associated with a new enterprise.
http://www.uky.edu/Ag/AgEcon/pubs/ext_aec/ext2000-13.pdf
Evaluating a Rural Enterprise (By Preston Sullivan and Lane Greer), This publication is for people who already live in rural areas and want to add new enterprises to their operations. Its sections guide the reader in evaluating resources, assessing finances, gathering information, and marketing. It also discusses choosing an "alternative" enterprise and offers further resources.
http://attra.ncat.org/attra-pub/PDF/evalrural.pdf
Personal and Family Considerations (Agriculture Business Alternatives), Interest in alternative enterprises has increased in recent years. Many farmers are looking for new ventures to generate additional income, to bring in other family members or to better utilize resources. Others are looking to non-traditional enterprises as a way to get started in commercial farming or to help support a rural lifestyle.
http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/agdex1361/$file/1834-10.pdf?OpenElement
-
Business Trends
Globalization and Agriculture: New Realities (By Michael Boehlje, Center for Food and Agricultural Business, Purdue University), Dramatic changes are occurring in the agricultural sector today. These changes provide opportunities for some, but threats for others. Twenty-first century agriculture is likely to be characterized by: more global competition; expansion of industrialized agriculture; production of differentiated products; precision (information intensive) production; emergence of ecological agriculture; formation of food supply chains; increasing risk; and more diversity.
http://www.agecon.purdue.edu/extension/sbpcp/resources/GlobalizationandAg.pdf
The Future of Agriculture: Frequently Asked Questions (By Rhonda Skaggs, College of Agriculture and Home Economics), For several years, I have taught about food and agricultural policies, agricultural structure, and the future of agriculture in the Department of Agricultural Economics and Agricultural Business at New Mexico State University (NMSU). One of my biggest challenges has been to get students to see agriculture from abroad, sector wide perspective.
http://cahe.nmsu.edu/pubs/research/economics/TR37.pdf
From Supply Push to Demand Pull (By Stephen Martinez, Hayden Stewart – USDA), In the early 20th century, most types of farm products were sold as commodities on the open market. Sellers brought their hogs or cattle to centralized terminals, or their grain to country elevators, where current prices were paid on the spot. The rule of the day was “pushing” large volumes of standardized commodities through the supply chain, which kept costs down.
http://www.ers.usda.gov/amberwaves/november03/pdf/supplypush.pdf
-
Legal Structures
Selecting a Business Structure: An Informational Guide to Forming Businesses (By Chris Williams, David Barton, and David Coltrain – Kansas State University), Organizers of new businesses need to structure their businesses in a way that best meets there individual and collective needs. Structures have many facets including organizational, operational, marketing, financial, and legal.
http://www.agecon.ksu.edu/accc/kcdc/PDF%20Files/Business3.pdf
Selecting the Legal Structure for Your Business (U.S. Small Business Administration), In starting a small business, one of the first questions you should ask is what form of legal entity you should use or "How should I organize my business?" Also, as your business grows and changes, you should from time to time ask yourself whether the entity you have chosen remains the best form of organization for your business.
http://www.sba.gov/library/pubs/mp-25.pdf
Choosing the Legal Structure for Your Business (Bradley University, Small Business Development Center), Which is right for you? Often, the first business decision you'll make can be the most difficult of all. One of the first startup decisions you'll make for your new business is deciding what type of business organization is best for you.
http://www.bradley.edu/turnercenter/dwnloadocs/choosing_legal_structure.pdf
Legal Structures, Licenses and Taxes, Many entrepreneurs become confused when considering which business organization form to use for a business. There are potentially as many as nine business forms available under current Missouri law. Several of them are simply variations on basic forms. Some of the business organization forms available today are the result of recent changes in Missouri law.
http://www.bvsbdc.org/Downloads,%20Forms,%20Maps,%20%20etc/legal_structure.pdf
-
Business Contracts
Selected Topics in Agricultural Contract Law (Prepared by Christie Hayes, Legal Research Assistant), What is Contract Law? A contract is an agreement that can be enforced by law. It might be in writing, or it might exist only in the form of spoken words and handshakes. Regardless, a contract always involves a transaction, generally a mutual exchange of promises, such as a promise to pay an amount of rent in exchange for a promise to lease farm land, or a promise to share a crop in exchange for a promise to provide cropping labor.
http://www.dsl.psu.edu/centers/agpubs/Agricultural_Business_files/AgContractsFinal.pdf
-
Risk Management
Don't Break a Leg...Managing Risk on Your Small Farm (Cornell Small Farms Program), Farming is a risky business, so what else is new? Too much rain, too little rain, a pest problem here, a tractor problem there… farming is all about risk and uncertainty whether your farm is big or small. Thank goodness farming is full of rewards too, for you, for your family and your community. In this fact sheet we want to introduce the idea of risk management and look at some of the particular challenges and opportunities that small-scale farmers have in managing risk.
http://www.cfap.org/JoannaGreen-dontbreak.pdf
Introduction to Risk Management: Understanding Agricultural Risk (USDA, Risk Management Agency), Risk has always been a part of agriculture. But, farming in America is a ball game that has changed dramatically over the past few years. Increasingly, farmers and ranchers are learning that it is now a game with new rules, new stakes, and, most of all, new risks.
http://www.rma.usda.gov/pubs/1997/riskmgmt.pdf
Small Business Insurance & Risk Management Guide (By Susan Anastasio, The Travelers, Hartford, Connecticut – U.S. Small Business Administration), This guide should heighten your awareness of business insurance and encourage you to consider carefully the various insurance programs and options available on the market. Adequate insurance coverage is imperative for a firm to be successful.
-
Regulatory and Legal Issues
Challenges for Small Business: Dealing with Regulatory and Legal Issues, Dealing with regulatory and legal issues for a small business owner can seem like a mountain to have to climb while wearing shorts and sandals. Knowing who to turn to for advice and general topics to discuss is key to successful compliance.
http://www.essortment.com/career/challengessmall_scxk.htm
Introduction to Tort Law and Liability (Prepared by Gregory R. Riley, Legal Research Assistant), The material contained herein is general and educational in nature and is not intended to be legal advice. If you need legal advice, please seek the aid of a competent attorney in your area.
http://www.dsl.psu.edu/centers/aglawpubs/part1.cfm
Environmental Protection Programs Applicable to Modern Agriculture (Prepared by Anthony D. Kanagy, Legal Research Assistant), The purpose of this publication is to provide a very general overview of the environmental regulatory laws and incentive programs that apply to agriculture. The publication is not intended to provide an in depth analysis of each statutory program but rather to notify readers that these Acts exist and to provide a basic overview of the purpose of each one so that readers may be able to determine if the law applies to their situations.
EPA Worker Protection Standards (Adapted by Gene C. Brucker, Legal Research Assistant), The Worker Protection Standard (WPS) protects three and a half million people who work with pesticides at over 560,000 locations. The WPS is designed to provide pesticide workers and pesticide handlers a set of basic protections from pesticide exposure. The WPS prevents any application of pesticides while employees are in the field and strictly regulates re-entry into a pesticide treated agricultural area.
http://www.dsl.psu.edu/centers/aglawpubs/wpspaper.cfm
Landowner's Liability for Land Users and Statutory Protection for Landowners (Prepared by Gregory R. Riley, Legal Research Assistant), The right to exclude others from privately owned land is considered one of the most fundamental rights that an American property owner possesses. Landowners in this country enjoy the sense of autonomy that comes with owning a tract of land and hold dear the right that allows them its exclusive use and benefit.
http://www.dsl.psu.edu/centers/aglawpubs/part2.cfm
Understanding "Right to Farm" Laws (By Christine H. Kellett, Director and Professor of Law), In September of 1998, the Iowa Supreme Court in Bormann v. Board of Supervisors declared one of Iowa's Right to Farm statutes unconstitutional. Early this year the United States Supreme Court declined to review that decision. This memo addresses the Iowa case and its implications for Pennsylvania's “Right to Farm" law.
Starting a Small Business: Tax Requirements, Much of the information in this guide refers to the federal tax requirements. For tax and wage reporting requirements at the state level, please refer to this website, which links directly to existing Web sites for each state.
http://www.bizmove.com/starting/m1a8.htm
Starting a Small Business: Licenses and Regulations, It may be inconceivable to you that your homebased consulting service or handknit sweater business would have to comply with any of the numerous local, state and federal regulations, but in all likelihood it will. Avoid the temptation to ignore regulatory details. Doing so may avert some red tape in the short term, but could be an obstacle as your business grows. Taking the time to research the applicable regulations is as important as knowing your market.
http://www.bizmove.com/starting/m1a6.htm
Business Notes (Prepared by Business ServiCenter, NC Dept. of Commerce), Licensing and permitting requirements may be imposed by state and local governing authorities as well as by federal authorities. It bears repeating: North Carolina has no single generic license for all businesses. Some businesses may be subject to several state requirements while others may not be subject to any.
http://www.ashevillechamber.org/pdf/BusinessNotes_1.pdf
Employee or Independent Contractor: 20 Tests (Missouri Small Business Development Center), Question: "I hire people periodically for special projects. When can I hire someone as an independent contractor versus an employee?" Many companies would prefer to hire some, or even all, of their workers as "independent contractors." When an independent contractor provides a service or product, the service recipient does not have to withhold employment taxes, pay social security taxes (FICA), or pay unemployment tax.
http://www.missouribusiness.net/docs/20_tests_employee_contractor.asp
Expanding Your Circle: Hiring Employees (Missouri Small Business Development Center), Your business has grown, and it's more than you can handle on your own. You've looked at the option of independent contractors and decided that's not the answer. Your next option—hire an employee. But what does this involve? What are the reporting requirements? What regulations must you meet?
http://www.missouribusiness.net/hbb/expanding_hiring_employees.asp
Small Business / Self-Employed (Internal Revenue Service, US Dept. of Treasury), Select business topics using our A-Z listing, or by business type such as sole proprietor, corporation, etc. We also provide links to major business subjects, such as Business Expenses, which provides a gateway to all related information on that subject.
http://www.irs.gov/businesses/small/
Fact Sheet 12: Agricultural Employers under the Fair Labor Standards Act (U.S. Dept. of Labor), This fact sheet provides general information concerning the application of the FLSA to agricultural employment. The FLSA is the federal law which sets minimum wage, overtime, recordkeeping, and child labor standards. Agriculture includes farming in all its branches when performed by a farmer or on a farm as an incident to or in conjunction with such farming operations.
http://www.dol.gov/esa/regs/compliance/whd/printpage.asp?REF=whdfs12.htm
Recreational Use of Private Lands: Associated Legal Issues and Concerns (By Roger A. McEowen, University of Arkansas School of Law), Recreational activities on private lands have increased in recent years due to the inability of public lands to meet demand. The prospect of monetary gain and the liability protection provided by state law for recreational activities on private land provide other incentives for the increased use of farm and ranch land for recreational activities.
http://www.nationalaglawcenter.org/assets/articles/mceowen_recreationaluse.pdf
Zoning Limitations and Opportunities for Farm Enterprise Diversification: Searching for New Meaning in Old Definitions (By Robert Andrew Branan, National AgLaw Center), Advocates of small farm viability are increasingly proposing market-driven state and local policy initiatives to counter the loss of farms at the urban edge due to rising land and input prices, falling commodity prices, and an overall deterioration of the rural infrastructure that has until recent decades supported the agricultural economy of rural communities.
http://www.nationalaglawcenter.org/assets/articles/branan_zoninglimitations.pdf
Business License Information Office, The Business ServiCenter makes it easier for businesses to meet the license requirements in the State of North Carolina.
http://www.nccommerce.com/servicenter/blio/
Intellectual Property: Protecting Business Assets with Patents, Trademarks, Copyrights, and Other Tools (By Glenn Muske, Rodney Holcomb, Suzanne L. Holcombe), As a small, micro, or home-based business owner, you have probably read or heard the term “intellectual property.” What does the term mean for your business? Does your business have anything to protect? Do you know where and how to get this protection?
http://pods.dasnr.okstate.edu/docushare/dsweb/Get/Version-3704/T-4147web.pdf
Agricultural Business Insurance (Agricultural Alternatives), Whether you are currently in business or deciding to start an agricultural business, insurance should be part of your risk management strategy. Risk management can take many forms, including insurance, production diversification, and business structure. Insurance shifts some of the risk from the business to the insurance carrier.
http://agalternatives.aers.psu.edu/farmmanagement/startbusiness/AgBusinessInsurPM7.pdf
Consumer's Guide to Insurance for Small Business Owners (State of Wisconsin, Office of Commissioners of Insurance), If you operate a full- or part-time business you will need both property and liability insurance. Property insurance provides protection in case of a theft or if a fire breaks out at your business headquarters and destroys equipment and inventory. Liability insurance provides protection in case someone gets hurt using your product or services or falls down the stairs.
-
Financial Statements
Important Farm Business Terms Defined (By Rodney Jones, Extension Agricultural Economist, Livestock Production and Michael R. Langemeier, Professor, Agricultural Economics), A clear understanding of terms used in discussing farm business operations is important. The term “business structure” is used within the context of three broad categories: organizational structure, legal structure, and financial structure. This guide is intended to provide insight regarding each of the “business structure” decisions and the interdependence of these farm management choices.
Developing a Cash Flow Plan (Damona G. Doye, Extension Economist and Professor, Oklahoma Cooperative Extension), A cash flow plan is a recorded projection of the amount and timing of all cash inflows and cash outflows expected to occur throughout the planning period. Larger farms, substitution of capital assets for labor, and inflation increase the amount of cash required to operate the farm or ranch and make the cash flow plan an increasingly valuable tool in farm financial management.
http://osuextra.okstate.edu/pdfs/F-751web.pdf
Twelve Steps to Cash Flow Budgeting (By William Edwards, Extension Economist), How much financing will your farm business require this year? When will money be needed and from where will it come? A little advance planning can help avoid short-term shortages of cash. One useful tool for planning the use of capital in the farm business is a cash flow budget.
http://www.extension.iastate.edu/AGDM/wholefarm/pdf/c3-15.pdf
-
Income Statements
Your Farm Income Statement (Farm Financial Management), How much did your farm business earn last year? There are many ways to answer this question. A farm income statement (sometimes called a profit and loss statement) is a summary of income and expenses that occurred during a specified accounting period, usually the calendar year for farmers.
http://www.extension.iastate.edu/Publications/FM1816.pdf
Developing an Income Statement (By Lori Shipman, Extension Associate and Damona Doye, Extension Economist and Professor – Oklahoma Cooperative Extension), The income statement indicates whether a business has earned money or suffered a loss. Actual financial statements help evaluate past performance so that improvements can be made as needed. Projected financial statements allow for evaluating options from production to marketing strategies to risk management. It is important to keep good farm records throughout the year to help ease the burden of financial statement preparation and planning.
http://osuextra.okstate.edu/pdfs/F-753web.pdf
Developing a Balance Sheet (By Ross O. Love, Extension Economist, Harry G. Haefner, IFMAPS Specialist, Damona Doye, Extension Economist - Oklahoma Cooperative Extension), A good information system contributes to the financial success of the farm business. The information system should provide the manager with production information as well as current measures of the financial position, financial progress, income performance, and debt repayment capacity. A financial information system contains four essential and interrelated components: 1.the balance sheet, 2.the cash flow statement, and 3. the income statement, and 4. farm records.
-
Budgets
Enterprise Budget Analysis (Agricultural Alternatives), The Agricultural Alternatives series provides information on marketing, production costs, resource requirements, and other management factors that small-scale and part-time farmers should consider before starting an alternative farm enterprise. This publication explains the design and format of sample budgets used in the series.
http://agalternatives.aers.psu.edu/farmmanagement/enterprise/enterprise_budget_analysis.pdf
Budgets: Their Use in Farm Management (By Damona Doye, Regents Professor, and Extension Farm Management Specialist), Questions of how to best organize and manage the farm business in a manner consistent with the goals and objectives of the farm family must be continually addressed. The decision as to whether the considered alternatives are consistent with established goals and objectives rests upon the farmer and the farm family acting as the manager if no outside management is hired.
http://osuextra.okstate.edu/pdfs/F-139web.pdf
Budgeting For the Small Business (U.S. Small Business Administration), What Is a Budget? Although you might not know it, you prepare a budget each time you estimate how much cash you will have left at the end of the month after paying your bills. A budget is a forecast of all cash sources and cash expenditures.
-
Financial Analysis
Break-even Pricing, Revenue and Units (By Joe Parcell, Nancy Giddens, and Melvin Brees, Department of Agricultural Economics, University of Missouri), This article presents a method for determining the break-even price, revenue and unit sales of value-added agricultural products. Although this method can be applied to any product, this publication is developed from the perspective of a producer in a post-farmgate business. This publication is designed to help producers understand how to establish the break-even price, revenue, and units sold from a cost perspective.
http://www.extension.iastate.edu/agdm/wholefarm/pdf/c5-180.pdf
Calculating Overhead and Price (By Alan Hauff, University Outreach and Extension at the University of Missouri-St. Louis), A seven-step process for calculating the all-important overhead percentage is shown in Fig. I-I on the following pages. After the overhead percentage is determined, important pricing decisions can be made.
http://www.missouribusiness.net/docs/calculate_overhead.pdf
Farm Financial Scoreboard (Prepared by Gary A. Hachfeld, Extension Educator), A scorecard or record of wins and losses for a football or basketball team is a measure of their success or failure. The same is true for a farm business. A record or scorecard of financial measures can indicate the farms strengths and weaknesses and thus determine the potential for business success.
http://www.anslab.iastate.edu/Class/AnS435X/Financial/Farm%20Financial%20Scoreboard%20-%20MN.doc
Financial Ratios (Missouri Small Business Development Center), Financial ratios are a valuable and easy way to interpret the numbers found in statements. It can help to answer critical questions such as whether the business is carrying excess debt or inventory, whether customers are paying according to terms, whether the operating expenses are too high and whether the company assets are being used properly to generate income.
http://www.missouribusiness.net/docs/financial_ratios.asp
Financial Ratios Used in Financial Management (By Michael R. Langemeier, Professor, Agricultural Economics), Financial aspects of the farm business have rapidly in-creased in importance in recent years. Farm business size has increased. Cash expenses have gone up. Larger amounts of credit are being used.
-
Record Keeping
Financial Record Keeping for Farmers and Ranchers (By Lori Shipman, Extension Associate and Damona Doye, Extension Economist and Professor – Oklahoma Cooperative Extension), A good record-keeping system provides answers to important financial management questions. Records aid the farm manager in evaluating production, economic efficiency, and profitability. Good record-keeping systems help answer these questions:
http://osuextra.okstate.edu/pdfs/F-302web.pdf
Ohio State University Fact Sheet: Records and Record Keeping (By Cheryle Jones Syracuse, Ohio State University), The best time to set up a record system for a small business is before you start the business. Experience clearly indicates that the use of an adequate record keeping system increases the chances of business survival.
http://ohioline.osu.edu/cd-fact/1151.html
Quicken for Farm and Ranch Financial Records (By Damona Doye, Extension Economist and Professor Oklahoma State University), This fact sheet provides an overview of features in a popular personal record-keeping system that can be adapted for farm use.
http://pods.dasnr.okstate.edu/docushare/dsweb/Get/Document-1799/CR-324web.pdf
Developing and Improving Your Farm Records (By James Hanson, Dale Johnson, and Billy V. Lessley), Records are important to the financial health of your farm. Good records do not ensure your farm will be successful; however, success is unlikely without them. Farm records are like report cards students receive in school. With a farm report card, you can tell how well you are managing your operation compared with other producers in your "class'. You also can see the strengths and weaknesses of your farm operation.
http://www.agnr.umd.edu/MCE/Publications/PDFs/FS542.pdf
Developing Realistic Cash Flow Projections for Business Start-Ups and Expansions (By John Donovan, Butte SBDC), Developing accurate projections, especially the sales forecast is probably the most difficult part of building financials for your business plan. Unfortunately many people don’t spend enough time and effort on this part of their plan and end up living with the consequences after their project is funded.
-
Credit
A Farmer's Guide to Agricultural Credit (By Paul N. Ellinger and Peter J. Barry), This guide is designed to help you better understand credit. In the current risky economic environment, credit should be managed as closely and as carefully as other production inputs. Like seeds and chemicals, agricultural credit options are changing and expanding with new and innovative products, and can be complicated by legal concerns.
http://www.farmdoc.uiuc.edu/finance/FarmersGuidetoCreditBody.htm
Cash Flow Projection for Operating Loan Determination (By Michael R. Langemeier), Explains cash flow projection for operating loan determination.
http://www.oznet.ksu.edu/library/agec2/mf275.pdf
What You Should Know Before Applying For That Bank Loan (By Danny R. Snow, CPA), Virtually all businesses will, at some time, need to obtain outside financing. For the small business owner, this generally means obtaining some type of bank loan. And for many, this turns out to be a frustrating and difficult experience. It doesn't have to be that way, however.
http://www.tscpa.com/publicinfo/SBarticles/what_you_should_know_before.aspx
What You Need To Know about Small Business Borrowing (By Don Sadler), If you haven’t yet, it’s almost inevitable that one day you’ll be faced with the question: Should you or shouldn’t you borrow money for your business?
-
Market Research
Marketing Plan Components: Marketing Objectives & Strategies, Meeting should lead to sales. (If not, you need to set different marketing objectives.) They should be clear, be measurable, and have a stated time frame for achievement.
http://www.sba.gov/smallbusinessplanner/manage/marketandprice/serv_4ps.html
Marketing Plan Components: Competitor & Issues Analysis (U.S. Small Business Administration), The purpose of the Competitor and Issues Analysis section of your marketing plan is to explain in detail the external challenges and opportunities your business may face. Even though preparation of the analysis will take time, it will be worth it. You can benefit in a number of ways.
http://www.sba.gov/smallbusinessplanner/manage/marketandprice/serv_competitor.html
Marketing Plan Components: A Snapshot of Your Current Situation (U.S. Small Business Administration), In the Current Situation section of your marketing plan, you'll provide information about your location, target market and competitive environment. You'll briefly describe the competitive environment and key issues your company faces in this section; more detail is provided in the Competitor and Issue Analysis section.
http://www.sba.gov/smallbusinessplanner/manage/marketandprice/serv_currentsituation.html
Marketing Plan (U.S. Small Business Administration), A sound marketing plan is key to the success of your business. It should include your market research, location, the customer group you have targeted, competition, positioning, the product or service you are selling, pricing, advertising, and promotion.
http://www.sba.gov/smallbusinessplanner/manage/marketandprice/SERV_MARKETINGPLANS.html
Strategizing With the 4 P's (U.S. Small Business Administration), The marketing strategy section of your plan outlines your game plan to achieve your marketing objectives. It is, essentially, the heart of the marketing plan. The marketing strategy section should include information about:
http://www.sba.gov/smallbusinessplanner/manage/marketandprice/serv_4ps.html
Marketing Plan Components: A Quick Review (Iowa State University Extension), The one hard-and-fast rule about marketing plan components is that there are no hard-and-fast rules! Marketing plans vary by industry, by size of company and by stage of growth. The form isn't as important as the process of preparing it–it's a process that makes you think about your business goals and what your marketing strategy will be to achieve those goals.
http://www.agmrc.org/services/cafeii/Marketing/4.%20Marketing%20Plan%20Outline.doc
The New Market Research (By Joshua D. Macht, Inc Magazine), Forget focus groups and mail surveys; with constantly changing markets and ever-increasing competition, companies are finding new ways to determine what customers really want.
http://www.inc.com/magazine/19980701/964_Printer_Friendly.html
Marketing Research for Entrepreneurs and Small Business Managers (By David J. Snepenger, Montana State University College of Business), What is marketing research? Business owners and entrepreneurs acquire information through marketing research that helps identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process.
http://extn.msu.montana.edu/communitydevelopment/pubs/mt9013.pdf
Conducting Market Research (By Nancy H. Bull and Gregory R. Passewitz), Customers are the foundation of any successful business. Effective market research results in increased sales and profits. Use market research to develop marketing plans. Market research provides a more accurate base for making profit assumptions and helps develop critical short- and mid-term goals.
http://ohioline.osu.edu/cd-fact/1252.html
Sizing Up the Market Winds (By Russell Tronstad), Farming in the 90s could be compared to hang gliding. The best hang glider skills in the world may not be enough to keep from crashing in a down draft.
http://cals.arizona.edu/arec/pubs/dmkt/SizingUpthe.pdf
Where to Find Information for Doing Marketing and Business Studies (Iowa State University Extension), Food is big business in the United States, with more than $850 billion spent on food in 2004. By the year 2020 it is projected there will be an additional 50 to 80 million people in the United States, adding another $200 billion to the food expenditures.
http://www.extension.iastate.edu/AgDM/wholefarm/pdf/c5-21.pdf
Direct Marketing: Business Management Series (By Katherine Adam, Radhika Balasubrahmanyam, and Holly Born NCAT Agriculture Specialists), This publication on direct marketing alternatives—with emphasis on niche, specialty and value-added crops—features many farm case studies, as well as information on enterprise budgets and promotion/publicity.
http://attra.ncat.org/attra-pub/PDF/directmkt.pdf
Doing Your Own Market Research (By Judy Green), Innovation, experimentation, and change are not new to farmers. Over the years most farms have been through many changes in production, marketing, and management strategy. However, the level of interest in new markets and nontraditional agricultural enterprises has risen dramatically in recent years as farmers look for new ways of generating income from their farm resources.
http://www.cfap.org/fap/DYOMResearch.pdf
Researching Your Market (U.S. Small Business Administration), This publication provides an overview of what market research is and how it's done. It introduces inexpensive techniques that small business owner-managers can apply to gather facts about their customers and the people they'd like to have for customers.
http://www.sba.gov/library/pubs/mt-8.pdf
Market Research Workbook (Missouri Small Business Development Center), This workbook is designed as a guide to finding the information/data a firm needs in developing a marketing plan or program. This is not a procedure for preparing a Marketing Plan.
http://www.missouribusiness.net/docs/market_research_workbook.asp
Survey of Consumers of Fresh Produce (Rutgers University), This study provides an overview of attitudes, preferences and characteristics of consumers who shop at farmers’ markets. Besides demographics, the characteristics examined in this report include consumption trends of fresh fruits and vegetables in terms of quantity and variety, preferences for organic produce, amount spent per visit, frequency of visits, number of farmers’ markets patronized, retail outlets visited by consumers during 1996, factors affecting where to purchase produce and consumers intentions to visit farmers’ markets in 1998.
http://www.cook.rutgers.edu/~agecon/pub/FM_CN.PDF
Finding Customers: Market Segmentation (By Nancy H. Bull and Gregory R. Passewitz), A key factor to success in today's market place is finding subtle differences to give the business a marketing edge. A business that targets specialty markets will promote its products more effectively than a business aiming at the "average" customer. What makes the business unique? How can these unique features be promoted to "targeted" customers?
http://ohioline.osu.edu/cd-fact/1253.html
A Practical Guide to Conduct Market Research (By Dr. Bridget K. Bebe, Professor of Horticulture, Michigan State University), Learning how to conduct sound market research is about a challenging as learning to play a musical instrument or play a sport. Developing a marketing plan, and doing some market research to get information for the plan, is a bit like putting together a puzzle. You need many, but not all, of the pieces to “get the picture.”
-
Market Planning
Marketing Plan Outline Sample (Screen Graphics Inc.), Current Year Performance - summary of how your company and its products and/or services performed so far this yea. Recommendations - objectives in units and sales and expenditures needed to achieve those sales; objectives support the company's marketing goals.
-
Product Strategy
Branding for the Rest of Us (By Robert P. Woyzbun), The concept and practice of "branding" is enjoying a resurgence in business circles and is being discovered in organizations and sectors beyond consumer products and services. The principles of branding and brand management are equally (if not more!) relevant for professional services organizations.
http://www.4hb.com/0134rpwbrandingrestofus.html
Building Your Brand (By Nancy Giddens, Melvin Brees, and Joe Parcell
Department of Agricultural Economics), Value-added products needs a distinct identity -- they need a brand. This publication examines what branding is, why it is important, and the necessary steps to brand your product.http://extension.missouri.edu/explorepdf/agguides/agecon/g00650.pdf
Product Features & Benefits (U.S. Small Business Administration), Products may be described in terms of their features and benefits. Features are product characteristics; benefits are customer needs served by those features. Some examples of features are size, color, horsepower, functionality, design, hours of business, and fabric content.
http://www.sba.gov/smallbusinessplanner/start/protectyourideas/SERV_SBP_S_PRODBAS.html
Branding: Five New Lessons (Business Week), The P&G purchase of Gillette shows that innovation is key, and marketing is more diffuse and personal
http://www.businessweek.com/magazine/content/05_07/b3920042_mz011.htm
Product-Branding-Packaging-Price-Distribution-Promotion-Advertising (By Paul Vossen, University of California, Cooperative Extension), Develop new products, Develop new uses for existing brands
http://cesonoma.ucdavis.edu/hortic/pdf/marketing_crops.pdf
The Ten Commandments of Emotional Branding (By Marc Gobe), From consumers to people, Consumers buy, people live. From product to experience, Products fulfill needs, experiences fulfill desires.
http://www.carleton.ca/duc/love/032-07-10-tips-emotional-branding.pdf
Branding for Results (By W.R. Max Carey), Most companies believe that a solid product with good service, delivered on time, is enough to create a competitive edge in most markets. Yet, research indicates that most buyers do not believe there's much difference among competitors' products. Predictably in that situation, most buyers defer to price.
-
Pricing
Micro & Home-Based Business Product Pricing (Glenn Muske, Ph.D., Assistant Professor, Extension Home-based and Micro Business Specialist), Pricing is vital to any successful business. An important question a business owner must answer is “What price is a right price?” From an economic view, the right price maximizes the owner’s profit. Often business owners set prices that maximize sales or maximize customers. At times they set prices that do not even cover costs. This can only guarantee business failure.
http://srdc.msstate.edu/02value/marketing/ok/productpricing.pdf
Micro & Home-Based Business Service Pricing (Glenn Muske, Ph.D., Assistant Professor, Extension Home-based and Micro Business Specialist), Pricing is vital to any successful business. An important question a business owner must answer is “what price is the right price?” From an economic view, the right price maximizes long term profits.
http://srdc.msstate.edu/02value/marketing/ok/servicepricing.pdf
Pricing (By Gregory R. Passewitz), In business it is possible to have the very best product or service and have excellent sales volume, but if the wrong price has been set on the product or the service the business will eventually fail. In any business, the ultimate reason for a pricing system is to make a profit from your work. The amount of profit depends on your costs, both variable and fixed, selling price, and the number of items sold or services rendered.
http://ohioline.osu.edu/cd-fact/1326.html
Selecting an Appropriate Pricing Strategy (By Nancy Giddens, Joe Parcell, and Melvin Brees - Department of Agricultural Economics), The focus of this publication is the selection of an appropriate pricing strategy for value-added agricultural products. Selecting a pricing strategy for your product is critical, because price is the most highly visible element of all marketing efforts.
http://extension.missouri.edu/explorepdf/agguides/agecon/g00649.pdf
Home-Based Business - Pricing Your Work (By Alma J. Owen, Department of Family Economics and Management, Lincoln University), Many artisans without experience in markets outside their neighborhood have difficulty pricing their goods to give a fair return on their work. There are lots of ways to price -- double or triple your estimated production cost or check how others are pricing similar quality items.
http://extension.missouri.edu/explore/miscpubs/mp0598.htm
Pricing Nontraditional Products and Services (By L. D. Makus, J. F. Guenthner, and J. C. Foltz), Most agricultural commodities are sold in markets where price has been established by broad market forces. While producers in such markets can’t set price, they usually have a ready market for their entire production.
-
Promotion
Advertising: An Investment in Your Business's Future (By Gregory R. Passewitz and Nancy H. Bull), Many products or services have failed in the market, not because of their quality, packaging or pricing, but because potential customers didn't know they were there, and if they did, they didn't know what they were or how to use them. In order to sell your product or service you must promote it. One effective method of promotion is advertising.
http://ohioline.osu.edu/cd-fact/1276.html
The Internet as a Marketing Tool (By Glenn Guske, Home-based and Micro Business Specialist, Nancy Stanforth, Kent State University, and Mike Woods, Professor, Agriculture Economics), “Build it and they will come.” You may remember this line from the movie, Field of Dreams. And, as often happens in the movies, that dream did come true. This is often the same philosophy that guides the business owner to develop a website. Will his or her dream come true also?
http://pods.dasnr.okstate.edu/docushare/dsweb/Get/Document-2491/F-566web.pdf
Promoting Your Business (By Don Hofstrand), Promotion of a value-added business and/or its products and services are important, especially for businesses selling directly to consumers. Promotion includes all activities designed to inform, persuade and influence people when they are making the decision to buy.
http://www.extension.iastate.edu/agdm/wholefarm/pdf/c5-43.pdf
Helpful Tips for Improving the Visual Appeal of Marketing Materials (By Amanda Jones, Business and Marketing Intern, Jim Brooks, Business Planning and Marketing Associate, Rodney Holcomb, Agribusiness Economist, Corey Stone, Business Planning and Marketing Associate, Chuck Willoughby, Business Planning and Marketing Associate), Do you have a wonderful product that needs an exterior make-over? Often, marketing materials are a major component in forming a consumer’s awareness of a product. Following simple design guidelines will improve the impact of any marketing program.
-
Market Channels - Farmers' & Roadside Markets
Farmers' Markets (By Janet Bachmann, NCAT Agriculture Specialist), The number of farmers' markets in the U.S. has increased dramatically over the past two decades. This publication is a resource for those who want to organize a farmers' market or to sell at one.
http://attra.ncat.org/attra-pub/PDF/farmmarket.pdf
Establishing and Operating a Community Farmers' Market (By Forrest Stegelin, Extension Marketing and Agribusiness Specialist), This publication is designed to help community leaders, policy-makers, consumers, and marketers establish and manage a community farmers' market. Topics include: market feasibility and sponsorship, creating a favorable environment, location and site, and market facilities.
http://www.ca.uky.edu/agc/pubs/aec/aec77/aec77.pdf
Critique List for a Roadside Market, A successful roadside market requires the consideration of many details. Rate your market using the following checklist. If the question applies and you check "No", that item needs further consideration and/or action.
http://agmarketing.extension.psu.edu/Retail/PDFs/ChkLstRdSdMkt.pdf
Farmers' Markets Rules, Regulations and Opportunities (By Neil Hamilton), Farmers’ markets are one of the most exciting trends in America’s food system. Go downtown in almost any town or city in America during the summer, and you will see signs for the local farmers’ market. Read any farm publication examining new marketing opportunities for farmers and farmers’ market will be addressed.
-
M.C. - Community Supported/Local Institutions
Community Supported Agriculture (By Katherine L. Adam, NCAT Agriculture Specialist), This publication reports on the history of Community Supported Agriculture (CSA) in the U.S. and discusses the various models that have emerged. Recent trends in the CSA movement are presented and demographic information provided about the distribution of CSA farms in the U.S. Several CSA cases are profiled and a survey of recent research is presented. References and resources follow the narrative.
http://attra.ncat.org/attra-pub/PDF/csa.pdf
CSA - Local Food Systems for Iowa, What Is Community Supported Agriculture (CSA)? Community Supported Agriculture (CSA) is a partnership between farmers and community members working together to create a local food system.
http://www.extension.iastate.edu/Publications/PM1692.pdf
Bringing Local Food to Local Institutions (By Barbara C. Bellows, Rex Dufour, and Janet Bachmann, NCAT Agriculture Specialists), This publication provides farmers, school administrators, and institutional food-service planners with contact information and descriptions of existing programs that have made these connections between local farmers and local school lunchrooms, college dining halls, or cafeterias in other institutions.
http://attra.ncat.org/attra-pub/PDF/farmtoschool.pdf
Local Food Connections from Farms to Schools, Through direct marketing of their products, Iowa farmers and growers are forming a stronger connection with their customers and obtaining premium prices for those products. One potential direct marketing customer is the local school.
http://www.extension.iastate.edu/Publications/PM1853A.pdf
Selling to Restaurants (By Janet Bachmann, NCAT Agriculture Specialist), Upscale restaurants serving locally-grown produce are in the headlines nationwide. Growing for this market is both lucrative and demanding. Profiles of growers from around the country illustrate successful strategies and points to remember when working with chefs.
http://attra.ncat.org/attra-pub/PDF/sellingtorestaurants.pdf
-
M.C. - Organic Farming
Organic Marketing Resources (By Holly Born, NCAT Agriculture Specialist), Market resources for organic food and fiber products, including organic prices, sales data, market trends, and other market data, organic trade associations, directories, and other organic marketing publications and resources, with contact information for ordering them.
http://attra.ncat.org/attra-pub/PDF/markres.pd
Transitioning to Organic Production, "Transitioning to Organic Production" lays out many promising conversion strategies, covering typical organic farming production practices, innovative marketing ideas and federal standards for certified organic crop production. With special sections on livestock production and profiles of four organic producers.
-
M.C. - Value-Added Agriculture
Keys to Success in Value-Added Agriculture (By Holly Born, NCAT Agriculture Specialist), Fourteen farmers in the Southern U.S. were interviewed for a project funded, in part, by the USDA’s Southern Region Sustainable Agriculture Research & Education (SARE) Program. This publication presents, largely in the farmers’ own words, important lessons they learned in adding value to their farm products and marketing directly to consumers.
http://attra.ncat.org/attra-pub/PDF/keystosuccess.pdf
Starting a Value-Added Agribusiness: The Legal Perspective (By Mark J. Hanson, Lindquist & Vennum, and P.L.L.P.), The surge of farmer-owned value-added processing businesses which mushroomed in Minnesota and North Dakota during the past five to ten years has been rapidly developing elsewhere as well. Producers of various commodities have begun to increase investment in their farming ventures, not by the traditional method of expanding production, but rather through investment in initial or first stage processing of their agricultural commodities and through the second stage marketing of their commodities.
http://www.iira.org/pubsnew/publications/IVARDC_Other_5.pdf
Evaluating the Potential of Value-Added Agricultural Ideas: A Series of Worksheets to Assess Feasibility (By Rob Holland, Assistant Extension Specialist, Agricultural Development Center), The mere mention of feasibility studies suggests a multitude of different concepts, definitions and ideas. Feasibility can be defined as the process of determining or assessing the capability and likelihood of something being accomplished, brought about, used or dealt with successfully.
-
M.C. – Agritourism
Entertainment Farming and Agri-Tourism (By Katherine L. Adam, NCAT Agriculture Specialist), Agri-entertainment and -tourism—new, highly consumer-focused types of agriculture—may offer additional options for diversification and adding stability to farm incomes. Farmers have invented a wide variety of "entertainment farming" options.
http://attra.ncat.org/attra-pub/PDF/entertn.pdf
Nature-Based Tourism & Agritourism Trends: Unlimited Opportunities (By James A. Maetzold, National Alternative Enterprises and Agritourism Leader, USDA/NRCS), If you own and operate an agritourism or alternative enterprise or have visited an agritourism farm or purchased products directly from a farmer, you are supporting your local farmer.
http://www.kerrcenter.com/publications/2002_proceedings/agritourism.pdf
Agritourism Harvest Profits for Farms and Travel Groups (By Jane Eckert, Eckert AgriMarketing), There may not be a road sign in the country directing you to "increased profits", but you just have to look for the intersection of agriculture and tourism. That’s where you’ll find "agritourism", which will lead you down the road to success.
http://agebb.missouri.edu/mac/agopp/arc/agopp047.txt
House Bill 329, An Act to Limit Liability Arising From Certain Agritourism Activities. The General Assembly of North Carolina enacts.
http://www.ncleg.net/Sessions/2005/Bills/House/PDF/H329v5.pdf
Senate Bill 268, To repeal sections 86.254, 86.330, 86.333, and 86.337, RSMo, and to enact in lieu thereof four new sections relating to police retirement.
-
M.C. - Direct Marketing
Choosing Your Market: A Direct Marketing Decision Tool for Small Farmers (Georgia Organics), This workbook has been produced by Georgia Organics to help farmers identify the direct marketing strategies that will best fit their farm.
http://www.georgiaorganics.org/markettool/workbook.pdf
Direct Marketing (By Katherine Adam, Radhika Balasubrahmanyam, and Holly Born, NCAT Agriculture Specialists), This publication on direct marketing alternatives—with emphasis on niche, specialty and value-added crops—features many farm case studies, as well as information on enterprise budgets and promotion/publicity. A new section discusses implications of Internet marketing and e-commerce for agriculture.
http://attra.ncat.org/attra-pub/PDF/directmkt.pdf
Direct Marketing Guide for Producers of Fruits, Vegetables and Other Specialty Products (By Charles R. Hall, Professor, Department of Agricultural Economics, University of Tennessee, Agricultural Extension Service), Marketing is one of the most important factors determining the success of any fruit or vegetable farming enterprise, encompassing all of the operations and decisions made by producers.
http://www.utextension.utk.edu/publications/pbfiles/PB1711.pdf
How to Sell Fresh Produce to Supermarket Chains (By Bobby G. Beamer Adjunct Professor, Department of Agricultural and Applied Economics, Virginia Tech), Horticultural production is an increasingly important part of Virginia’s diverse agriculture. Vegetable sales as a percent of total agricultural sales increased from 1.71 percent in 1982 to 2.69 percent in 1992: a 57 percent increase, while production acreage over the same period increased only about 1 percent (U.S. Bureau of the Census). As government programs have changed for such crops as grains, corn, tobacco, and peanuts, producers are looking for new crops that can provide a high per acre return.
-
Business Planning
Agricultural Business Planning Templates and Resources (By Holly Born, NCAT Agriculture Specialists), This resource list contains sources of business planning templates and further resources for agricultural enterprises. These resources include Internet and print resources as well as training courses and workshops.
http://www.attra.org/attra-pub/PDF/agriculture_planning.pdf
Developing a Business Plan (Agricultural Alternatives), An important task in starting a new venture is to develop a business plan. As the phrase suggests, a business plan is a “road map” to guide the future of the business or venture. A business plan will enter into the daily decisions of the business and provide direction for expansion, diversification, and evaluation of the business.
http://agalternatives.aers.psu.edu/farmmanagement/startbusiness/newDevelopBusPlanPM7.pdf
Developing a Business Plan for Value-Added Agricultural Products (By Rodney B. Holcomb, FAPC Extension Economist, Glenn Muske, Micro Business Specialist, and Phil Kenkel, Extension Economist), Planning a new business is like planning a vacation. Before leaving home for a family vacation, one or more family members typically pull out a roadmap and determine the best route to reach a final destination. In addition to realizing a final destination, points of interest and places to visit along the way are marked on the map.
http://kaic.psu.edu/resources/valueAddedBusPlanOSU-F-909.pdf
Organizing a Business Plan (By William G. Owen and Gregory R. Passewitz), The success of your business depends largely upon the decisions you make. A cross-country traveler wouldn't start a trip without a map, and a business owner shouldn't start a business without a sound business plan. Just as the map shows the traveler which routes to take, the business plan shows business owners where they are going and the progress made toward their projected business goal.
http://ohioline.osu.edu/cd-fact/1101.html
Business Planning - A Roadmap for Success (By Troy D. Wilson and David M. Kohl of the Department of Agricultural and Applied Economics, Virginia Tech), What is a Business Plan? A business plan is a document outlining the key functional areas of a business including operations, management, finance, and marketing. Simply put, a business plan is a roadmap for a business. The traditional business plan is a paper document, although the emergence of electronic media has made paper an option.
http://www.ext.vt.edu/news/periodicals/fmu/1997-08/busplan.html
-
Financing
Financing Small-scale and Part-time Farms (Agricultural Alternatives), Small-scale farm operations are not for everyone, but they can support a healthful way of life in the country, away from the problems of urban congestion. Tens of thousands of households throughout Pennsylvania cherish the unique lifestyle of small-scale farming.
http://pubs.cas.psu.edu/freepubs/pdfs/ua286.pdf
Financing Your Small Business (By Glenn Muske, Rodney Holcomb, Susan Urbach, and Mike Woods), This fact sheet will provide the basics on financing for your small business. It discusses the financing search process and outlines small business financing alternatives.
http://pods.dasnr.okstate.edu/docushare/dsweb/Get/Document-2495/T-6113web.pdf
Financing Basics (U.S. Small Business Administration), While poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Whether you're starting a business or expanding one, sufficient ready capital is essential. But it is not enough to simply have sufficient financing; knowledge and planning are required to manage it well. These qualities ensure that entrepreneurs avoid common mistakes like securing the wrong type of financing, miscalculating the amount required, or underestimating the cost of borrowing money.
http://www.sba.gov/services/financialassistance/basics/basics/index.html
A Hitchhiker's Guide to Capital Resources (By Jill Andresky Fraser), We know what you want: money. No doubt you'd like to get your company as quickly as possible from its current cash-strapped condition to one in which it is flush with cash--preferably cash that comes with as few strings attached as possible. But before you venture into the capital markets, it pays to evaluate your options realistically.
http://www.comparebloomington.org/pdf/guidetoresources.pdf
Research | Site Index | Faculty | Staff |