Setting Your Goals. Setting the Guideposts Goal Setting is: Identification of Values Creating a...
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Transcript of Setting Your Goals. Setting the Guideposts Goal Setting is: Identification of Values Creating a...
Setting Your Goals
Setting the Guideposts
Goal Setting is:Identification of ValuesCreating a VisionEstablishing a MissionBy translating Values, Vision and Mission into
GOALS
Do yourself a F A V O R
when writing goalsFamily and/or Business
orientedAimed at a specific
measurable actionValue centered reflecting
Personal, family, and business values
Ordered by priority What is needed
What is requiredWhat brings the greatest reward
Realistic and achievable
Setting the Guideposts
Major Areas of Disagreement
Business Goals
Personal Goals
Acceptable levels of risk
Definition of success
Setting the Guideposts
Areas of Key Importance
Adequate communication
Adequate records
Adequate planning
Adequate profit potential
Manageable debt
Setting the Guideposts
The resources available to your farm business have a direct effect upon the identification and development of realistic goals and objectives.
Setting the Guideposts
Three major parts:
Personal resource inventory
Physical resource inventory
Fiscal resource inventory
Resource Inventory
Setting the Guideposts
Set goals for the
Individual
Family
Business
Setting the Guideposts
Goals Should be written
Should be specific
Should be measurable
Should have a timetable
Setting the Guideposts
Written Goals
Allow everyone involved to work from the same list
Provide a memorandum of understanding
Provide a written record for review
Setting the Guideposts
Setting Priorities
Which goals:
are most important to you?
are most important to your family?
are most important to your business?
Conclusion:
• Educators, business consultants, professional advisors or other producers can show you how to set goals, tell you why goals are important, tell why goals need to be prioritized and tell you why family and business goals must be mutually agreed upon, HOWEVER...
• NO ONE can tell you what goals are right for you, your family, or your business.
• When you set your goals you set your direction for your future, your family’s future and your business’s future.
Presented by:
John R. BakerAttorney at Law
Beginning Farmer Centerwww.extension.iastat
e.edu/bfc/877.BFC.1999
