Modern Farm Business
83 episodes - English - Latest episode: over 5 years ago - ★★★★★ - 5 ratingsThe Modern Farm Business podcast brings proven ideas and applications from thought leaders in the business arena to today's farm leadership environment. Improve your own leadership skills and become an effective farm CEO leading a bulletproof farming operation.
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Episodes
082: Finance on the farm
January 17, 2019 11:00 - 13 minutes - 18.5 MBTHREE NUMBERS TO KNOW I. Working Capital: The capital available for the business to do its work [CURRENT ASSETS - CURRENT LIABILITIES] gives you a dollar amount, but t only means something if you put it into perspective with a ratio. So we divide that number by our GROSS REVENUE. Let’s plug in a couple of examples with $1M working capital as an example. A Main Street boutique has a gross sales of $500K. Then 500,000 divided by 1,000,000 gives them 200% working capital to gross sales! On th...
082: Finance on the farm
January 17, 2019 11:00 - 13 minutes - 18.5 MBTHREE NUMBERS TO KNOW I. Working Capital: The capital available for the business to do its work [CURRENT ASSETS - CURRENT LIABILITIES] gives you a dollar amount, but t only means something if you put it into perspective with a ratio. So we divide that number by our GROSS REVENUE. Let’s plug in a couple of examples with $1M working capital as an example. A Main Street boutique has a gross sales of $500K. Then 500,000 divided by 1,000,000 gives them 200% working capital to gross sales! On th...
081. Tools for building understanding
January 10, 2019 11:00 - 12 minutes - 17.8 MBPoor communication → Unmet expectations → Frustration & Disappointment “Everyone hears only what he understands” - Johann Wolfgang von Goethe (scientist & author, 1749-1832) Two big challenges we face in effective communication: Assumptions: Experiences in my head I’m not adding in to the information I’m sharing because I believe you will already know it as I do. “Take the truck west and turn left where the barn was.” I’m assuming you know where the barn use to stand (because I know)....
080. Managing market emotions
January 03, 2019 11:00 - 11 minutes - 16.4 MBEMOTIONS ARE REAL: MANAGING THE EMOTIONAL REALITY OF TRADING The market is an auction. The purpose of an auction is twofold: to provide an environment where buyers and sellers can come together; and to provide price discovery. If a farmer retires and you go to the estate auction, there is one seller—and the more people who show up, the more potential buyers you have. Every buyer has a number and the ability to bid what they are willing to pay. The auctioneer facilitates the discovery of pri...
079. Thank you for the correction
December 27, 2018 11:00 - 9 minutes - 14.1 MBUSE THESE KEYS FOR CORRECTING WITH EASE Avoid looking at correctable behavior situationally. “Bill is consistently late for work. How do I correct it?” This is focusing on what we don’t want and not focusing on the goals of the organization...which means we can end up missing the opportunity to really create what we do want. Do you want Bill to show up an exact time each day? Or do you want him to communicate better about his schedule? Are you worried about the impact of his behavior on th...
078. Yep, it's a relationship business now
December 20, 2018 11:00 - 12 minutes - 17.4 MBDRIVING THE RELATIONSHIP ENGINE OF BUSINESS What’s made relationships so important in today’s business? They’ve always been important. Settling the prairie, the most important currency we had was building trusting relationships to help us purchase cattle, get credit from the feed store, lean on a neighbor for help when necessary...Over time, though, we became less reliant on neighbors and other relationships. Equipment and buyers for our grain were plentiful, and we were busy enough that ...
077. Ideas are easy. Change is hard.
December 13, 2018 11:00 - 11 minutes - 16.5 MBNEW SOLUTIONS! INNOVATIVE APPROACHES! EXCITING POSSIBILITIES! It’s exciting to invent or discover new ways of doing things, or to go to a meeting and leave motivated with someone’s unique approach to business. But one of many hurdles that can challenge us is called the Planning Fallacy—we are generally quite inaccurate when it comes to predicting how long something is going to take to do and how hard it will be to accomplish. But this bias isn’t all bad; many times we can get halfway throu...
076. The power of questions
December 06, 2018 11:00 - 10 minutes - 15.2 MBQuestions Help Us Focus This episode will cover different areas of a business by asking questions to help identify opportunities. Though you may not have answers for all of these questions today, they will start the thinking process and give you an inventory of questions today that you can use as a reference for future thinking, either for you or your team. Future Questions Having a clear picture of what you are working to create helps guide decisions when things get muddy. An inspiring ...
075: The 70-20-10 rule
November 29, 2018 11:00 - 8 minutes - 12.2 MBEpisode #75: The 70-20-10 rule For long-term results, divide your time Today we’re talking about being intentional on how we invest our time leading our business. It’s easiest to stay busy with all the immediate demands our business puts on us—a truck in need of repairs, paperwork that the bank needs, a meeting with the landlord, grain to be hauled...the list goes on. Sure, it’s all important, and it all needs to be done—but when tasks consume a leader’s every moment, there’s never an opp...
074: Farm communication matters w/ Elaine Froese
November 22, 2018 11:00 - 24 minutes - 34 MBElaine Froese, C.S.P. is a professional speaker, writer and business coach who specializes in helping farm families work through tough issues surrounding succession, business and communication—not only to meet and talk, but to act! Faith Today magazine recently dubbed Elaine “Canada’s Farm Whisperer,” an interesting title for someone who has coached families across Canada for the past 10 years and sat at kitchen tables for over 35 years. Elaine has been a columnist in Grainews for 20 years...
073. Five ways to win in the off-season
November 15, 2018 11:00 - 8 minutes - 12.5 MBWHERE DID THE SEASON GO? “There’s never any downtime anymore,” is a common lament in agriculture. We pine for times past, when there was a simpler pace and two distinct seasons of planting and harvest. Today we can feel tossed from one season to the next, never having enough time to catch our breath, let alone get ahead. In agriculture we’re beholden to the weather and the seasons; much of what we’re able to do on a given day isn’t in our hands, despite the to-do list in our head. Regardl...
072: Seven contrarian mindsets for grain marketing
November 08, 2018 11:00 - 15 minutes - 21.2 MBTHE CHALLENGES OF BUSINESS Whether it’s manufacturing, retail, the service industry or agriculture—there is something that makes you feel like your business is tougher than others. For farmers, typically a major source of frustration is found in the grain marketing side of the business. That’s understandable because farming—and in particular the marketing aspect—work differently from most other businesses. THREE BASICS OF EVERY BUSINESS: MAKE - SELL - COUNT Make: If you’re in the wi...
071. The power of gratitude
November 01, 2018 10:00 - 10 minutes - 14.4 MBIn our relationships, words of appreciation are some of the most powerful words we have. KOUZES & POSNER’S* LEADERSHIP MODEL: Model the way Inspire a shared vision Challenge the process Enable others to act Encourage the heart SEVEN ESSENTIALS TO ENCOURAGING THE HEART: Set clear standards. This communicates a standard of excellence and defines success. Expect the best. It shows respect and gives people recognition when they see we have high expectations. Pay attention. Be ob...
070. Learning, knowing, deciding, doing
October 25, 2018 10:00 - 10 minutes - 19.7 MBA leader on today's farm wears a lot of "hats," holding ultimate accountability for every aspect of the operation. This week, Dean explores the four activities a farm leader must regularly undertake to keep things running smoothly. LEARNING: IT IS NOT A “STAGE” OF LIFE. ONCE FORMAL LEARNING ENDS, THE REAL LEARNING BEGINS 1. Learning cannot be delegated. One should not make a habit of telling others to go get good at something instead of tackling it oneself. We can end up handicapping ours...
069. Find your operation's Critical Number
October 18, 2018 10:00 - 8 minutes - 16.4 MBIt’s 1983. The farm economy is wracked. International Harvester—one of the largest companies in the world—is failing. In Missouri, a dozen managers scraped together $100,000 in cash and borrowed an additional $8.9 million to buy the International Harvester plant they worked at. Today, that plant—which became SRC Holdings—has become one of the most successful companies in the country. To give some perspective: a 1983 investment of $1,000 in Warren Buffet’s Berkshire Hathaway would be worth ab...
068. Exploring ag, the environment and regulation w/ Dr. Jay Lehr, Ph.D.
October 11, 2018 10:00 - 25 minutes - 35.7 MBJay Lehr, Ph.D. is the science director at The Heartland Institute. Lehr is an internationally renowned speaker, scientist, and author who has testified before Congress on dozens of occasions on environmental issues and consulted with nearly every agency of the national government, as well as many foreign countries. Lehr is a leading authority on groundwater hydrology. After graduating from Princeton University at the age of 20 with a degree in Geological Engineering, he went on to receive...
067. The power of opposition
October 04, 2018 10:00 - 11 minutes - 21.8 MBPeople are happy to avoid tension whenever possible, but opposition is actually very healthy to face. Opposition creates that tension when we are forced to adapt and think. Rather than shying away, we should seek to *increase our comfort* with discomfort.
066. What Google learned about great teams
September 27, 2018 10:00 - 9 minutes - 13.1 MBGoogle loves using data to answer questions. When it came to the question of what makes some teams more effective & productive than others, they compiled their own data from nearly 200 Google teams & came up with 5 common contributing factors for success.
065. Seven tools for redirecting stress
September 20, 2018 10:00 - 11 minutes - 16.3 MBStress is a result of change in our environment--in itself, not a bad thing. It can push us to grow, or weigh us down; the better we understand our own reactions and the causes of stress in our lives, the better we can learn to manage those responses.
064. "Help! My family farm is a business!" w/ Jolene Brown
September 13, 2018 10:00 - 26 minutes - 36.7 MBA walking, talking champion for the people of agriculture and the family-owned business, Jolene Brown, CSP, CPAE, shares her credibility, authenticity, humor, and wisdom with audiences worldwide through her writing, keynotes, and workshops. She’s a 2017 inductee into the prestigious CPAE Speaker Hall of Fame®, a lifetime award for speakers who have reached the top echelon of their platform. She’s one of only 237 members worldwide, including former U.S. President Ronald Reagan, Dr. Norman Vin...
063: Measure twice
September 06, 2018 10:00 - 8 minutes - 11.8 MBMEASURE WHAT YOU WANT I recently built a garden shed, and as I was measuring a stud to cut, it suddenly struck me that no matter what cut I was making, I never measured the bit I didn’t want--I always measured the part I was going to use. But how often in life and work is our focus on that little leftover scrap of wood we don’t want? I don’t want lazy workers I don’t want to be overweight I don’t want to be broke I don’t want bad yields I don’t want people making mistakes We’d ne...
062. Is it worth doing poorly?
August 30, 2018 10:00 - 8 minutes - 12 MBDO SOMETHING NEW, AND DO IT POORLY There is a fear in many of us when it comes to trying new things: people don’t like to look foolish or as though they don’t know what they’re doing. In fact, that’s what trial-and-error is all about. Sometimes the only way to perfect a procedure or a new skill is to face a few (or many) failed attempts. BENEFITS OF THE LEARNING PROCESS OF THE YOUNG 1. The behavior of the majority or the “norm” is a driving influence. When we’re toddlers and cannot yet ...
061. Pursue your potential w/ Mark Sanborn
August 23, 2018 10:00 - 23 minutes - 32.7 MBABOUT OUR GUEST: Mark Sanborn, CSP, CPAE, is president of Sanborn & Associates, Inc., an idea studio dedicated to developing leaders in business and in life. Mark is an international bestselling author and noted expert on leadership, team building, customer service and change. In addition to his work as a business educator and author, Mark is an active leadership practitioner, including having served as the president of the National Speakers Association, which honored him with its highest m...
060. When what you know just ain't so
August 16, 2018 10:00 - 10 minutes - 15 MBThe world is continually changing. If we don't evolve and learn with it, we might one day find that many of the things we know to be true...no longer are. Dean Heffta suggests challenging our established notions and beliefs in order to grow as a leader.
059. When "bad" turns good
August 09, 2018 10:00 - 9 minutes - 12.9 MBNO GOOD CAN COME OF THIS In the fall of 2000, Mickey Pfleger was starting his third decade as a sports photographer. Not once in hundreds of hours on NFL sidelines had he been even touched by a player. Then at the 49ers/Chiefs game he was drilled by a Kansas City tight end, knocking Mickey unconscious...Potentially a very bad event. We’ll catch back up with Mickey later on to see how that turned out. In the moment, we have a tendency to make snap judgments, labeling things and situations...
058. Who's around your campfire?
August 02, 2018 10:00 - 9 minutes - 13 MBA LONELY PROPOSITION As the owner of a farm or other small business, you’ll inevitably wrestle with decisions and responsibilities that others in the operation simply don’t face. However, leading your business doesn’t have to feel like a solo adventure. You can assemble a team to help you realize your vision—that group of people you want sitting around the campfire talking about your business. The campfire is a powerful image. For me it means openness, friendship and candor. We sit arou...
057: Max Armstrong - From the other side of the table
July 26, 2018 10:00 - 24 minutes - 34.2 MBOne of the most trusted voices in ag media today is that of Max Armstrong. He’s been seen and heard by millions, bringing the news to farmers and sharing their story with the rest of the world for more than 30 years. In this episode Dean turns the tables on the famed ag journalist, allowing him to answer the questions for a change. Hear Max’s perspective on various topics in agriculture and the business of farming through the lens of his rural Indiana upbringing and his decades of farm broad...
056: BEWARE the goldfish bowl!
July 19, 2018 10:00 - 10 minutes - 15.1 MBTIME, PRODUCTIVITY and GOLDFISH: WHERE’S THE CONNECTION? Getting things done Key responsibilities of executives include setting priorities, investing resources wisely, making sure the organization has a culture of execution. Everyone is an executive of something—be it an entire farming operation, a team at work, my household, or just my own life—we all set priorities, invest resources and get things done efficiently. Priorities: Do I have clear, long-term goals written down? Do I kno...
055. Overcoming four hurdles to creative problem-solving
July 12, 2018 10:00 - 16 minutes - 23.3 MBLeaders face challenges and problems, and part of our role is helping our team to learn how to creatively solve those challenges. Today we’re exploring creative thinking and its role in helping us with our role of problem-solving. Hurdles to overcome Being too familiar Having the right answer Being practical "I'm not creative" Roger von Oech's four roles Explorer Artist Judge Warrior The takeaway Creative thinking is a process and a habit. We aren’t born creative—just like ...
054: The power of standards
July 05, 2018 10:00 - 9 minutes - 12.8 MBStandards are an essential component of any organization’s culture. Standards demonstrate to employees what conduct and quality are expected and inform the public which ideals are important to the organization. It should be no surprise to learn that organizations that live up to their own standards of behavior daily obtain better results in the long run. How exactly do standards affect a business, its employees and the public? How does a leader begin incorporating standards they see their or...
053. Tools for healthy conflict w/ Nate Regier, Ph.D.
June 28, 2018 10:00 - 20 minutes - 29.1 MBIf we’re involved in any organization, be it our growing farm or a community board—we likely have experienced the tug-of-war when people struggle against each other or with themselves to get what they want, causing relationships and entire systems to unravel. Today we’re going to dig into how we can better deal with the conflict that is bound to occur, and how we can provide leadership in real-time. ABOUT OUR GUEST: Nate Regier, Ph.D., is CEO and co-founding owner of Next Element (www.ne...
052. Following to lead
June 21, 2018 10:00 - 16 minutes - 22.7 MBIn many conversations about developing leadership there is an important element that is frequently missed—the role of the follower. For organizations to truly have a thriving leadership culture, there has to also be thriving "followership." Today we’re digging in to this rarely discussed component which is so critical to success in organizations.
051. Investing in tomorrow's ag leaders w/ Nancy Barcus
June 14, 2018 10:00 - 17 minutes - 40.5 MBAs leaders, part of our responsibility is investing in and developing the next generation of leaders. This affects how we raise our children, how we dole out responsibilities to our team, and how we choose to take part in community involvement. Our guest today is Nancy Barcus, Chief Operating Officer of Agriculture Future of America (AFA), an organization which helps young leaders engage in the world of food and agriculture. She shares with us some of AFA's principles and how the organizatio...
050. Highlights: Five from 50
June 07, 2018 10:00 - 15 minutes - 21.6 MBIt’s hard to believe, but this is our 50th episode of Modern Farm Business™ podcast! I’ve genuinely enjoyed all of the guests and the topics we’ve covered in the past 50 episodes, as well as the listener feedback on the things that are meaningful and speak to you. Today, I’m taking a review of some of the things that have really stood out to me so far on this journey. I went back through some past guest episodes and pulled out some main points that struck me as particularly impactful to busi...
049. The power of habit
May 31, 2018 10:00 - 11 minutes - 15.8 MBWhat separates both the most successful and the least successful people from the average in our economy? It's one thing: their habits. Today we're talking about how, as leaders, we can put unconscious thinking to work as an advantage for our business. Developing good habits, this week on Modern Farm Business™ podcast. See the show notes for full transcript of the episode as well as additional resources.
048. The farm business mind w/ Dr. David Kohl
May 24, 2018 10:00 - 18 minutes - 25.9 MBDr. David Kohl is Professor Emeritus of Agriculture & Applied Economics at Virginia Tech and part owner of Homestead Creamery, a value-added dairy business in the Blue Ridge Mountains. Dr. Kohl has spent the latter part of his career travelling 9M+ miles conducting financial/business workshops & seminars. This week he joins us to discuss his insights on farm leadership and the business of farming. See show notes for a complete (paraphrased) transcript of the show.
047. Cut the cost of drama w/ Cy Wakeman
May 17, 2018 10:00 - 23 minutes - 32.5 MBToday we welcome Cy Wakeman to explore her experiences and perspectives on leadership. Wakeman is a drama researcher, global thought-leader, and New York Times best-selling author who is recognized for cultivating a counter-intuitive, reality-based approach to leadership. Her philosophy offers a new lens through which employees and executives alike, can shift their attention inward, sharpen their focus on personal accountability, and uncover their natural state of innovation simply by ditchi...
046. Dangerous? Or just scary?
May 10, 2018 10:00 - 10 minutes - 14.5 MBIn business and in life, it's not uncommon to find ourselves making decisions that to someone else might seem completely irrational. Often these decisions involve risk. It could be a financial risk to our operation—or even physical risks that threaten our safety! In this episode we're exploring how our wiring often works against us making sound decisions, as well as some approaches to managing these hurdles.
045. Compensation dynamics on the farm w/ Larry Custer
May 03, 2018 10:00 - 17 minutes - 24.2 MBWorking with family and partners in business can lead to questions about the right approach to compensation. Larry Custer, Account Manager with Water Street Solutions, joins Dean to share best practices about setting the stage for good expectations with partners and employees.
044. "It's complicated." How you can lead with Systems Thinking
April 26, 2018 10:00 - 11 minutes - 16.2 MBOur brains are wired to look for clear, simple cause and effect regarding what’s happing around us. If our baseball team is losing, it must be the manager’s fault. If we have an accident, immediately we look for who’s to blame. And if my business is making money, well—it must be because I’m gifted at business! You see, our brain’s desire to understand can lead us to oversimplifying the factors that contribute to our successes and our failures. As leaders, it is important for us to recogni...
043. Are we ever really "too busy"?
April 19, 2018 10:00 - 8 minutes - 12.5 MBYou can say it in many different ways—I'm too busy...I don’t have time…I just couldn’t get to it…I’m really swamped right now and can’t do it. BUT... Have we ever REALLY been too busy? If I said I would give you $1M to get to downtown Denver in 2 days, you probably wouldn’t be too busy to get there. If your daughter was graduating from high school, would you be too busy to go to the ceremony? I’d bet most people could find the time in their “busy” schedules to work those things in. If that...
042. Get positive return on integrity w/ John Blumberg
April 12, 2018 10:30 - 23 minutes - 33.2 MBOne of the universals of lasting businesses is the role of values and integrity as a part of their culture and leadership. In today’s world of speed and disruption, it’s more important than ever. To share his insights on the subject with us today is author and speaker John Blumberg. For more than 20 years, John has poured himself into helping others become better leaders. His first book was a business parable, Silent Alarm. In 2009, he wrote Good to the Core, which changed the conversation...
041. Communication that works
April 05, 2018 10:30 - 10 minutes - 14.4 MBThere’s an old saying: “I know what I said, but I don’t know what you heard.” As leaders we can spend a lot of our time sending out information, with the expectation that people understand what we intend them to understand. However, when the pressure is on or time is short—just when we need communication to be its most crisp—is often when there are the most misunderstandings. Much of this ties to our own assumptions of what communication actually is, and to the fact that there are many diffe...
040. Eat that frog!
March 29, 2018 10:00 - 13 minutes - 18.6 MBMark Twain apocryphally said that if the first thing you do each morning is to eat a live frog, you can go through the day with the satisfaction of knowing that it’s probably the worst thing that is going to happen to you all day long. Sound advice for those of us who fight procrastination. Since it’s unlikely we all get everything done that we intend to every day, it’s safe to say everyone deals with some level of procrastination. Plenty of factors contribute to not getting things done as t...
039. More of what you want
March 22, 2018 10:00 - 7 minutes - 10.5 MBIt’s easy to focus on the things we don’t want in life an business. We don’t want to run out of money. We don’t want our employees getting hurt. We don’t want the neighbor driving through our field. You get the picture. But in practice, diligent focus on what we do want helps us to better create thinking and action that aligns with achieving our goals. Today we’ll use some practical farming examples to apply this proactive mindset. Safety on the farm In many large organizations, a safety...
038. Live your legacy w/ Ben Newman
March 15, 2018 18:06 - 15 minutes - 22.1 MBABOUT OUR GUEST: Ben Newman is a highly regarded performance coach, international speaker, and best-selling author whose clients include Fortune 500 companies around the world, business executives, sales organizations and professional athletes in the NFL, PGA, NBA, MLB and NCAA. Ben’s authentic, powerful, and engaging presentations have become nationally recognized, and recently he joined Clemson Head Football Coach Dabo Swinney to kickoff Jon Gordon’s Power of Positive Summit that included...
037. Better decision-making
March 08, 2018 11:00 - 17 minutes - 23.9 MBA key responsibility of leaders is the ability to make sound decisions. That doesn’t mean we should funnel every decision in the business through one or two people, but the tough and important decisions—the ones that really impact the future of the business—have to get wrestled with by the leader of the operation. Today we’re going to cover three tools that can help you, the leader, have more confidence in your decision-making, and we’ll finish with some traps to be aware of. A lot of peo...
036. Economics for the farm leader w/ Dr. Matt Roberts
March 01, 2018 11:30 - 23 minutes - 33.3 MBFew people truly understand the economic trends and forces that are at work in the world, constantly influencing the planning, decision-making and profitability of business leaders everywhere. In this week’s Modern Farm Business™ podcast, Dean sheds some light on the world of economics with his guest, Dr. Matt Roberts. ABOUT OUR GUEST: Matt Roberts is founder of The Kernmantle Group, an economics research and training consultancy. Dr. Roberts is a nationally-renowned expert and speaker on...
035. Ready the team
February 22, 2018 11:30 - 12 minutes - 17.1 MBAny seasonal business has to deal with the fact that before the season starts, they need to get the team ready. Today we’re going to talk about what happens when we don’t get the team ready, the importance of setting expectations at the beginning of the season, and some tools for helping prepare your team to bring their best. What happens when everyone isn’t on the same page as the season begins? Leaders feel like they have to have the same conversation 10 times. Frustrating and inefficie...
034. Seven tools for selecting top talent
February 15, 2018 11:30 - 15 minutes - 22.1 MBRecruiting and hiring is one of the top challenges not only for farms, but for every business looking to grow. In this episode, Dean covers seven tools for improving your selection results. For many businesses and farms, a key constraint to growth isn’t capital—it’s having the right people. I’ve had the opportunity to be involved with farm leaders from across the Midwest—and it seems no matter who I talk to, wherever they’re from is “the toughest place you can imagine to find good talent.”...