Families in business together share a lot, which isn’t always easy. It requires communication, understanding and compromise. In many ways, being in business together is like sharing a car. Simple rules addressing refueling, cleaning, maintenance and repairs create guidelines that align expectations, drive accountability and fuel harmony.Read Article
Most family businesses fail or are sold to non-family owners before they reach the third generation. This is partially because family businesses often rely on trust and familial bonds to hold the business together. While the informality of family works for some, successful multi-generation family businesses have learned that as families grow and businesses increase in complexity, more formal governance structures and communications are required. Learn three easy steps to strengthening governance and communication in your family business.Read Article
During the holidays we take time to reflect on our many blessings. In family business those blessings include health, happiness, prosperity and the opportunity to work with loved ones. What happens, though, when family in business doesn’t always feel like a blessing?Read Article
Strategic planning isn’t a silver bullet, but in most family businesses it can create clarity. When people have varying views of the present and/or future, strategic planning helps create a common foundation to build upon. Why. then, do families so often hesitate?Read Article
The year 2022 has definitely been a year of transition with many surprises and challenges, but also opportunities for the proactive manager and agribusiness person. Let’s review a few of the perspectives that are in the rearview mirror that could also impact the road ahead as we approach the middle of the decade.Read Article
Federal Open Market Committee (FOMC) Meeting Results
The Fed increased its Target Fed Funds rate by 0.5%. The new Fed Funds Target range is now 4.25-4.50%.
Similar to the Nov. 1-2, 2022 meeting, this meeting’s vote was unanimous!
The FOMC, which began to shrink its securities portfolio on June 1, 2022, announced it will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in the Plans for Reducing the Size of the Federal Reserve's Balance Sheet that it announced at the May 2022 FOMC meeting.
The Committee emphasized that it is strongly committed to returning inflation to its 2% objective.
At the three-day conference AgVision conference for young, beginning and small producers in Coeur d'Alene, Idaho, we asked the over 70 attendees to present some of the most notable points and perspectives. These were some of their responses.Read Article
Did you realize that over 80% of U.S. agriculture producers generate less than $250,000 annually in revenue? A group of these smaller producers asked for Dr. Dave Kohl’s advice and wisdom regarding operating a smaller type of business in this period of volatile economic times.Read Article
Digital assistants make it easy to search for information, create your grocery list or order a pizza. But are you unwittingly sacrificing your privacy for the sake of convenience? Security expert John Sileo lays it all out in this timely video.Read Article
Entrepreneurs will enhance agricultural technology to create myriad benefits – improved efficiency measures, faster responses to changing consumer preferences, consistent top-notch quality, etc. These innovators foster a distinctive mindset called the “entrepreneurial spirit.” It’s a difference maker in agriculture, and those who adopt it will break down current challenges facing the industry. So, what does it look like to adopt the entrepreneurial spirit?Read Article
Technology is everywhere. You’re likely using it in your operation. But are you positioned to make the most of innovation? Check out the first video in Northwest FCS’ three-part series exploring the drivers, investments and opportunities in current and emerging ag technologies.Read Article
Willie Sutton, the 20th-century bank robber, famously said, “I rob banks because that’s where the money is.” Today, thieves would put it differently: the easiest way to get money is to get into online bank accounts. How do they do that? By fooling others in some way.Read Article