Woodbury: Farm Family Business
Lance Woodbury DTN Farm Business Adviser
Mon Oct 27, 2014 01:03 PM CDT

Over the course of my experience in consulting with family owned farms and ranches, there are a few critical decisions which, if approached and executed well, contribute to the longevity of the enterprise. This series will offer six "make-or-break" decisions and the reasons they are so important. For several of the decisions there are no "right or wrong" answers; their success lies in their execution, regardless of the direction chosen.

Commodity agriculture is a unique enterprise, different than many other businesses. The primary resources needed to farm -- land and equipment -- are extremely capital-intensive. The inability to set prices ...

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