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The only constant is change. Can you imagine the impact of milking robots on a dairy farm in the 1900s? What if we had to revert back to the milking systems used back then? How dairy farmers handle change is and always has been significant to the success of their operations. Whether change is seen as good or bad, it always presents opportunities. The question is, will you capitalize on them? That all depends on how you manage the change.
There are a number of trends affecting or poised to affect the dairy industry and all of them point to change. With farms becoming larger, economies of scale may come into play and there may be a need for equipment built to a certain size. Input cost fluctuations are nothing new but they affect the individual farm’s bottom line and create a risk that must be managed in the best way possible.
To manage change, it is critical to be proactive rather than reactive. Why? Because when you are proactive you have more choices.
This article was originally published on Progressive Dairyman. To view the entire article click here.
For more information on managing change on your dairy farm, contact Kimberly Shipley, CPA, CA, at 403.356.1278 or [email protected].
Related Topics:Farmers; Dairy
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