Developing a Business Plan and Goals

1. Developing a Business Plan and Goals Unit 3: Agribusiness Planning and Analysis Lesson: AP2

2. Objectives Lesson Objective: • After completing the lesson on developing a business plan and goals, students will demonstrate their ability to apply the concept in real-world situations by obtaining a minimum score of 80% on Our School’s Business Resume & Goals Evaluation. Enabling Objectives: • Create two SMART short-term goals, two SMART intermediate goals, and two SMART long-term goals; prioritize these goals and identify three things the student will do to help them achieve these six goals. • Demonstrate the steps in using a personal time management system. • Create a business resume. • Create a business plan.

3. Key Terms • Goal • Objective • Business Resume • Business Plan

4. My Goals • On AP2.1write… • 2 short-term goals • 2 intermediate goals • 2 long-term goals

5. Goals & Objectives • Goals • Broad statements that show where you want to be after a specified period of time • Goals can be achieved only by establishing objectives. • Objectives • Steps that must be taken in order to achieve goals • G – Run a profitable business each year. • O – Increase annual sales by 10%. • G – Improve response time to customer complaints. • O – Implement business policy to guarantee customers receive a return phone call within 24 hours of their complaint.

7. Goal Setting Guidelines • Goals should be SMART • Goals should be yours • If it is a family business or family farm, all family members should take part in goal creation • Goals should be written • Written goals serve a regular reminder and create a record for the business

9. Types of Goals

10. Prioritizing Goals • To satisfy organizational goals • To target problem areas • According to the natural chain of events • By relative urgency and importance • Goals compete for time and money, so it is important to establish priorities. • Spending time organizing records or tilling the soil • Going fishing or doing farm chores • Adding new machinery or painting the farmstead • Improving the greenhouse ventilation system or redoing the exterior of the retail center and road sign advertising the business

11. Achieving Goals • Set up a regular time for the review of goals • Monthly, bi-monthly, semi-annually, or annually • Regularly check the progress of objectives and goals • Keep priorities in mind • Use time and effort effectively • Organize tasks on a “to do” list • Are there slow or nonmoving goals? • Maybe these need to be reconsidered • Check resources • Modify goals as resources change or they are used more efficiently

12. My SMART Goals • On AP2.4 write… • 2 short-term SMART goals • 2 intermediate SMART goals • 2 long-term SMART goals

13. Personal Time Management System • List and prioritize current goals • Make a list of objectives to be completed to reach each goal and prioritize them • Relate tasks for the day to objectives and prioritize them • Set up a schedule for tasks, focusing on tasks with highest priority Goal Objective #1 Objective #2 Objective #3 Task Task Task Task Task Task

14. Time Management Tips • Break big tasks into smaller, more manageable chunks • Prioritize chunks based on importance and urgency • Set specific and realistic deadlines for each chunk

15. Business Resume

16. Business Resume • Living document providing company’s services, qualifications, goals, and accomplishments • Not just for people searching for employment • Companies, sole proprietors, self employed businesses use to demonstrate success • Stand alone document used as promotional material or part of marketing or business plan • Agribusinesses are encouraged to include pictures of their operation, to tell a personal story, to include a social network link, to include pictures of equipment, family, fields, etc., and to include links to personal message recordings embedded within the resume • Uses for a business resume vary on • Type of business, target audience, and key information conveyed

17. Traditional Agriculture • All segments of production agriculture • Crop, livestock, dairy, contract production, nuts, orchards, etc • Target audience • Landlords • Lending Institutions • Contract Integrators • Consumers • Seed companies or other niche market opportunities for specialty crops • Suppliers and Distributors

18. Agribusiness • All types of agribusiness including but not limited to landscaping, greenhouses, floral shops, seed companies, chemical companies, farmer’s markets • Target audience • Customers (traditional and non-traditional agriculture customers) • Lenders • Farm Supply Wholesalers/Retailers • Fertilizer and Chemical Distributors Wholesale/Retail • Grain Elevators • Customer Applicators (of all types) • Large Commercial Farm/Agribusiness Operations • Confinement Animal Feeding Operations

19. Non-Traditional Agriculture • Nursery plants, trees, or shrubs, Christmas trees, specialty grains, sod, grapes, woodlot products (logs, lumber, etc.), cattle/horse products, herbs, fruits, nuts, and/or vegetables, berries, bulbs, flowers, and seeds, fish and shell fish • Target audience • Greenhouses • Truck Garden Operations • Farmers Markets • Aquaculture • Horticulture and Landscape Business • Equine Centers

20. Business Resume Components

21. Business Resume Components

22. Business plan

23. Business Plan • A collective summary of financials over a particular time period, plans for expansion and future expenses, and details on risk management

24. Business Plan Components

25. Business Plan Components

26. Conclusion • The first step in planning an agribusiness is to determine different levels of attainable goals. This will provide a pathway for success by developing a plan to make the best use of available resources. • In order to attain these goals in a timely fashion, we must develop personal time management skills, breaking goals into smaller, more manageable objectives with set tasks and deadlines. • Finally, when planning an agribusiness, we must develop a business resume and complete a business plan to showcase the business’s services, qualifications, goals, accomplishments, and plans for future development and growth.

27. review

28. Goals • Compare and contrast a goal and an objective. • Identify three advantages to setting goals. • Why might setting goals be a disadvantage? • S in SMART Goal • M in SMART Goal • A in SMART Goal • R in SMART Goal • T in SMART Goal • Give an example of the time frame of a short-term goal. • Give an example of the time frame for an intermediate-term goal. • Give an example of the time frame for a long-term goal.

29. Goals • How might I prioritize my goals? • How do I set myself up to achieve my goals? • Make these SMART goals: • I want to lose 20 pounds by the end of the school year. • I want to win a proficiency award. • I want to get my State FFA Degree. • I want to work at the golf course on the mowing crew this summer.

30. Time Management • Identify 5 tips to help me manage my time and achieve my goals.

31. Business Resume • What is a business resume? • Why do I need a business resume? • What do I need to consider before creating a business resume? • Explain the components of a business resume.

32. Business Plan • What is a business plan? • Why do I need a business plan? • Explain the components of a business plan.

33. Exit Cards • What did you learn today about goals, business resumes, or businessplans? • What questions do you still have about creating goals,business resumes, or business plans?