Creating a Strategic Future with SMART Goals

1. “If you don’t know where you’re going, any road will get you there.”

2. “If you don’t know where you’re going, how will you know when you get there?

3. “If you come to a fork in the road, you gotta take it.” Yogi Berra

4. Creating a planned future With Goals and Objectives Jim Gerrish American GrazingLands Services LLC Patterson, Idaho V.2019

5. “I want to be a dairy farmer.” Is this a good goal ?

6. “I want to be a dairy farmer.” Is this a good goal statement ? By when ? How many cows ? What kind of a system ? How much investment ?

7. “I will have one beer tonight” Is this a good goal statement ?

8. Setting SMART goals • S = specific “I want to have a grass-based dairy …..

9. Setting SMART goals • S = specific • M = measurable ….. milking 60 cows….

10. Setting SMART goals • S = specific • M = measurable • A = attainable Is it within your means to accomplish ?

11. Setting SMART goals • S = specific • M = measurable • A = attainable • R = related Are any of your goals in conflict with one another ?

12. Setting SMART goals • S = specific • M = measurable • A = attainable • R = related • T = timed

13. Setting SMART goals • This is SMART goal statement • “I want to have a grass-based dairy farm and be milking 60 cows by spring of 2019 with a debt:asset ratio less than 50%.”

14. What kind of goals are important ? • Lifestyle • How do you want to live ? • Where do you want to live ? • What do you want to eat ? • How do you want to raise your kids ? These are the foundation for all other choices!

15. What kind of goals are important ? • Financial • What income level is required to support your lifestyle ? • How will you achieve that level of income ?

16. What kind of goals are important ? • Resource conditions • How do you want your living & working environment to look? • Resource conservation vs. resource enhancement

17. What kind of goals are important ? • Production systems • Livestock only ? • Mixed crop & livestock ? • Direct market ? • Ownership vs contract ? • Eco-tourism ?

18. Where are you today?

19. Where do you want to be 10 years from now?

20. Where are you going to be 10 years from now?

21. The ten most powerful 2-letter words in the English language IF IT IS TO BE IT IS UP TO ME

22. Our goals: Get out of debt Stay out of debt Live adjacent to public land Have a mountain out the back door Ready access to good hunting & fishing

23. Missouri farm & home Idaho home We had to make some adjustments in our lifestyle to meet our goals

28. The power of goals

29. A happy ranch family ?

30. Now here’s what we’re gonna do. The old geezers gotta die someday Why doesn’t he ever ask my opinion ?

31. Goals should be: • Agreed upon by everyone in the operation • Written down and periodically reviewed and updated • Communicated clearly from management to labor • A set of objectives should be developed for accomplishing each goal

32. Types of Goals • Strategic • The big picture of where we want to be • Usually set in a 5-10+ year time frame

33. Goals and objectives • Write down three strategic goals for your operation • 1. • 2. • 3.

34. Strategic goals and tactical objectives • Tactical objectives are the step by step procedures that take us to our goal

35. Goal Become a grass-based dairy farmer Objectives Purchase 40 springer heifers by February 1 Complete milking parlor by March 1 Subdivide pastures for 12-hour rotation by April 1 Strategic goals and tactical objectives

36. Strategic goals and tactical objectives • Objectives • Purchase 40 springer heifers by February 1 • Complete milking parlor by March 1 • Subdivide pastures for 12-hour rotation by April 1 Develop a budget and cash flow plan for each objective {

37. It’s always easier to ranch on paper before you try it on the ground !

38. Goals and objectives • For each goal, write one tactical objective to be completed within 6 months. • 1a. • 2a. • 3a.

39. What are the best uses of your resources to achieve your goals ?