Impact Farming

In this week's episode, we are re-broadcasting a special show in which Tracy sits down with both Brent VanParys and Elaine Froese to discuss the tough questions on Farm Transitions.  In this episode, Tracy asks Brent and Elaine some of the toughest questions on farm transition: Who gets the Farm? What are farm participation policies? Are you actually qualified to takeover the family farm? Join us...

In this week's episode, Tracy speaks to Brent VanParys about "How To Transition Plan". As farmers, we all know that we should have a transition plan in place; however, once we move past our fears and concerns for the majority, it's still unclear how to proceed. So, how exactly does a farm family start, create, and implement a transition plan? If you have ever asked this question and found yourself...

In this week's episode, Tracy speaks to Elaine Froese about "The Role of a Farm Family Coach". Have you ever heard the term coach and wonder just what exactly the benefits of hiring a coach are? If so, this episode is for you. Elaine Froese is known as "Canada's Farm Whisper" and has worked as a farm family coach for decades. In today's episode, Tracy and Elaine chat about: What exactly a farm coa...

In this week's episode, we are recalling episode 54. Tracy sits down with Elaine Froese to discuss "Finding Fairness in Farm Transition". Elaine states how farm transitions needs to be a change in our language and our mindset. She relates the transition to a tsunami as there is procrastination, conflict and avoidance. Most often these conversations are avoided until absolutely necessary and Elaine...

In this week's episode, Tracy speaks to Tom Field, Professor at The University Nebraska-Lincoln, about a paradigm-shifting concept called "Re-Imagine Going Back to The Farm". Have you heard of the Engler Agribusiness Entrepreneurship Program? It is an innovative program at UNL that teaches agriculture students entrepreneurial skills and mindset. Through this program, many great entrepreneurs and b...

In this week's episode, we speak to Michael Langemeier, Purdue University Professor, about the "Feasibility of Going Back to The Farm". In business, it is a commonplace activity to perform a feasibility study before buying or expanding a business to allow a family member to join. In today's interview, we discuss exactly that. While there are many ratios and calculations to perform to help answer t...

In this week's episode, we speak to Elaine Froese, Farm Family Coach, about "Family Roles on The Farm". To be successful in a family business, defining each family member's roles and responsibilities is crucial in creating a culture of professionalism, personal responsibility, and accountability. While the principle is clear, the practice is sometimes harder to implement. In this week's interview,...

In this week's episode, Tracy speaks with three great guests about their upcoming virtual seminar titled "Managing Through The Storm". Seminar Overview Managing the family business, as well as the family and business relationships can feel like navigating through a storm. If this describes how you feel at times, you're not alone. Are you experiencing a strain on cash flow due to weather, lower com...

In this week's episode, we are joined once again by Heather Watson from Farm Management Canada to chat about their "Farm Transition Appreciation Day" and initiative recently launched. January 12, 2021, marked the inaugural Farm Transition Appreciation Day, which invites farmers to celebrate farm transition planning and take action. The goal of the day is to bring awareness to the importance of far...

In this week's episode, Tracy speaks with Heather Watson from Farm Management Canada about their excellent new online tool called the "Farm Transition Guide". Is transition planning on the horizon for your farm, but you are not sure where to start? Farm Management has you covered with their new website dedicated 100% to all things farm transition planning.  In this episode, we are excited to chat...

In this week's episode, Tracy speaks with Justin Chaput in this episode titled "What Your Accountant Wants You To Know". When you are about to make that next big business decision on the farm, are you often left wondering whose advice you should seek? Your accountant should be your first point of call.  While many people often underutilize their accountants, it is important to remember they have a...

Bookkeeping is essential for helping you maintain accurate financial records. Yet still, many farm businesses fail to implement this necessary process. Besides the fact you are required under law to maintain accurate books and records, doing so will save you frustration later on. In fact, "poor accounting" is one of the top reasons businesses fail. Without bookkeeping or accounting, you are blindl...

"If you do not know where you are going, any road will take you there." This quote is a great way to lead into today's episode about strategic planning for the farm. Are you familiar with the term strategic planning? Are you wondering what it is all about? Or maybe you are new to the term, and you are currently looking to improve the operational efficiency and profitability of the farm. If so, thi...

In this week's episode, we will be broadcasting a special feature in place of our regular weekly episode. We look forward to bringing you another year of Impact Farming Show episodes starting on Wednesday, January 6th. This past fall, Tracy was honored to moderate a panel for the North American Ag Roundtable. This panel was focused on the people of agriculture and aptly titled "The Future of Agric...

There are several types of planning in farm business management, and many of these planning processes are well known. They are production planning, financial planning, tax planning, estate planning, transition planning, etc. This week, Tracy speaks with Tom about a critical planning process that does not receive enough attention when it comes to setting our farm business up for success. This proce...

We all know that farmers are masters of getting sh!t done; however, energy management is key to sustaining what we do as farmers, and we wanted to bring Michelle on to speak about some of her key takeaways from this book. Here is a highlight from the book's preface: In The Success-Energy Equation, she shows you how, by using the wisdom of science and your innate common sense, you can combat 21st-a...

Timothy's book, which was released yesterday, December 1st is coined as "An entertaining and practical guide to getting through the day with less stress and better health", from the host of the hit TV series A User's Guide to Cheating Death. We were excited to have Timothy on the show to share more about his book where he walks readers through the incredible number of decisions that we face and sh...

In this week's episode, Tracy speaks to Terry Betker from Backswath Management about "Strategic Borrowing". Terry is recognized for his visionary and leading-edge contribution to farm management, and we are thrilled to have Terry joining us on the show once again. In this episode, Tracy and Terry chat about:  How farmers can be very traditional, if not a little passive, when it comes to borrowing...

In this week's episode, we chat with Terry Betker about farm debt in this episode aptly titled "Till Debt Do We Part." Terry is the President and CEO of Backswath Management Inc., based out of Winnipeg, Manitoba. Terry is recognized for his visionary and leading-edge contribution to farm management, and we are thrilled to have Terry join us on the show once again. In this episode, Tracy and Terry...

There are many ways to increase your top line and bottom line in farming. Today we are chatting with Dick Wittman about how farmers can find more "Gold" in their operation through learning and implementing Dick's TOP 10 financial management best practices. Dick has a wealth of experience and wisdom when it comes to farming and farm financial management. He is the former manager and board chair of...

In this week's episode, we speak to Michael Langemeier, about "The 8 Biggest Farm Financial Mistakes" that he sees farmers making. Michael is Associate Director for the Center for Commercial Agriculture and a Professor for the Department of Agricultural Economics at Purdue University. We are thrilled to have Michael joining us to share some amazing insights and ideas with our audience here on The...

Building on last week's episode where we explored the goldmine of farm management resources that Farm Management Canada offers, we are now diving into two of their most recent studies that research the connection between a farmer's business management skills and the effect that it has on their mental health. Do you believe there is a connection between your farm management skills and your mental h...

Farm Management Canada is an award-winning, trusted management resource for farm business managers and others in the agriculture industry. We invited Heather onto the show this week to share their goldmine of resources dedicated to helping farmers succeed at farm business management. In this episode, Tracy and Heather chat about:  Who the National Farm Business Management Resource Centre is, when...

The Naked Opus reveals a novel approach to estate planning— a more fulfilling, holistic, and purposeful way to pass your wealth onto your heirs and to ensure your wealth endures for generations to come. We could not think of a better book to feature as part of our fall book series on The Impact Farming Show. With millions, if not billions, of farm assets needing to be transferred to the next gener...

Every Family's Business challenges the idea that successful family businesses must keep family issues and business issues separate. Tom believes this separation is impossible and that most family businesses are set up from the beginning to fail because they attempt it. Tom offers a compelling argument for why families should be clear about when they will sell the business and to whom. Families tha...