Planning for Long-term Success
Whether you intend to borrow money or not, heading into a farm venture without a business plan is like setting out on a long-distance journey without a map. Arm yourself with a business plan and you will have a guide to aid your farm decision-making and demonstrate to yourself and your family that your ideas are feasible. This steady-paced course is designed to help you build your plan, including developing financial statements.
Target Audience
All levels – This course is geared for new farmers as well as those expanding or transitioning from one farm enterprise to another. Before enrolling in this course you should already know the type of farm you want, some short-term and longer-term farm business goals, and the geographic area or state where you intend to farm. You should have at least some first-hand experience with farming, including personal research into the type of farm you will operate.
NOTE: If you are new to farming or are still exploring ideas, it may be helpful to take BF 101: Starting at Square One before enrolling in BF 202.
Course Objectives
Upon completing this course, you will have a full business plan in a format ready to be implemented on the farm. The business plan may be used to guide you in decision-making in the course of running the farm business. Additionally, the business plan will be in a form ready to submit to a banker, private investor or grantor, in the event you are seeking outside funding.
Graduates of BF 202 have obtained equipment and operating loans, and mortgages, for start-up and expanding farms.
Webinars
The bulk of the course happens on your own time, with discussions, readings, and assignments in Teachable, our virtual classroom. To add to the experience, webinars will be woven into the online interface of the course to allow you to meet on a weekly basis to learn from outside presenters, ask questions, and collaborate with other participants and the instructor to address your farm issues in real time. If you miss one, they are always recorded and posted for later viewing.
Webinar Schedule
Live instruction for 2023 has concluded. While we encourage live
attendance so you have the opportunity to engage with the presenters and
ask questions, all webinars are recorded and posted in your online
classroom for students to watch anytime. Once you have enrolled in this
course, you will retain access to all materials indefinitely, and can
return to participate in the live webinars in future offerings of the
course if you wish. Our next live session will be offered in Winter
2024. Please join us!
Your Instructor
Myron Thurston is the Food Supply Chain Marketing Specialist for Cornell Cooperative Extension of Oneida County and is a Senior Resource Educator in the Cornell System. His most recent position was in Agriculture Economic Development at Cornell Cooperative Extension of Madison County and he worked with farmers there to help them prepare for expansion, diversification, and financial protection for their agribusinesses. He also is a grant reviewer for the USDA. Myron has a significant background in grant research and grant writing as he was in nonprofit fundraising and development for over a decade before coming to Cornell. He also served as the head of marketing for two nonprofits in Central New York. Myron grew up on a 100-year-old family dairy farm that milked around 350 cows and farmed on 2,000 acres in Oneida County, NY. He currently resides in Sherrill, NY with his wife, two children, a dog that loves to run with him, and a cat that is not very friendly.
Course Curriculum
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StartInstructor Contact
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PreviewWebinar Schedule and Participants' Guide
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StartPre-Course Survey
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PreviewKiva US - 0% interest loans up to $15,000
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StartFORUM: Questions and Conversations
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StartBusiness Plan Templates (Business Plan, Cash Flow, Income & Expenses, Balance Sheet)
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StartNavigating in Teachable; Getting a Course Completion Certificate; and More
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StartWeek 1 Webinar Link, Slides & Recording
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StartFORUM: Introduce Yourself
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StartACTIVITY: SWOT Analysis of Your Farm Business
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StartACTIVITY: Business Plan Cover Page and Farm Summary
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StartResource: Find Your Local Cooperative Extension
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StartResource: SWOT Analysis: A Tool for Making Better Business Decisions
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StartResource: How to Do a Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis
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StartResource: Conducting a SWOT Analysis of Your Agricultural Business
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StartWeek 2 Webinar Link, Slides, and Recording
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StartFORUM: Share Your Mission Statement
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StartActivity: Cash Flow Plan
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StartActivity: Mission Statement, Goal Statements
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StartResource: Twelve Steps to Cash Flow Budgeting
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StartResource: "Cash Flow Budgeting," University of Wisconsin-Madison
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StartResource: "Financial & Economic Terms," Penn State Extension
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StartResource: Developing a Mission Statement for your Agricultural Business
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StartResource: "Cash Flow Budgeting for Farms and Ranches," University of Nebraska-Lincoln
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StartResource: Writing SMART Goals for Your Farm (Rutgers)
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StartResource: Setting Farm and Family Goals (University of Missouri Extension)