Financial Planning Resources
Navigating the ups and downs of milk prices and input costs can feel much like riding a roller coaster. Only it’s not near as fun. Here are some resources to help fine-tune your strategy for maintaining profitability and understanding your cost of production in good times and bad.
- Dairy Profit Team – Putting a core group of key advisors around the table can identifying opportunities and bottleneck areas that you may not have noticed before. It can lead to better decision, improved performance and ultimately increased profitability.
- Dairy Decision Consultant – A Dairy Decisions Consultant can review your financial performance and identify strategies for improved viability. The Center for Dairy Excellence offers a list of fifteen individuals who could fill this role.
- Risk Management Resources – Protecting your business against unforeseen changes in milk prices or input costs could be the strategy you need to level out the roller coaster.
- Cost of Production Resources – To be truly successful and profitable over the long term, it is essential to understand your cost of production. One of the first steps involves calculating your operation’s breakeven costs and making a realistic assessment to evaluate opportunities for improvement.
- Other Business Tools – Working with your Extension Dairy Team or networking with other dairy producers might be the solution to finding your competitive edge.
To request additional assistance or information on these resources or other Business Tools offered by the center, please complete this form. For more information, please contact Melissa Anderson at 71-346-0849 or firstname.lastname@example.org.