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One Small Change That Could Transform Your Client’s Business
Are your clients making financial decisions based on incomplete or misleading data? One common mistake could be hiding the true profitability of their farm—and it all comes down to how they categorize grant funding in QuickBooks. I was working with …
Is it $17K or $23K in sales?
You know what keeps me up at night? Giving a farmer advice to improve their profits—only to realize I based my suggestions on bad numbers. I was talking with a client the other day. She was running different reports, and something …
The #1 Mistake Farmers Make with their Cash Flow Budget
Getting ready for a successful growing season starts with a solid budget. I want to start off by saying, I’m proud of you! Over the last few weeks, you’ve been gearing up for the upcoming growing season. You’ve been catching …
Are You Looking at the Right Numbers? 5 Numbers to Watch (and Why)
A few weeks ago, I attended a webinar with JM Fortier about money. YAY! So glad he’s bringing this important topic to the forefront. One thing he mentioned, if you want to be successful for the long-term, you need to look …
What Pizza Taught Me About Farming & Cash Flow
A few weeks ago, I made pizza dough for homemade pizzas and handheld pies. The dough came together beautifully, earning me lots of compliments (especially for the handheld pies!). I even posted a reel about it on Instagram. Fast forward …
Protected: Cash Flow Masterclass
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5 Tips for Better Delegation (Not Abdication)
It’s no secret that I struggle with social media as a way to promote my online classes and consulting practice. As I often remark, there are three skills for success: operational, financial management, and marketing. If you’re in business, you’re …
You never get a second chance, or do you?
When developing a new business line or launch, which philosophy do you subscribe to? Create an MVP – (Minimum Viable Product) Beta Now, Better Later You never get a second chance to make a good first impression. If there were …
If you’re not growing, you’re dying
Why are you growing your business? Why do you want to invest in a new greenhouse, wash/pack shed, or even just put more land in cultivation? (TL/DR: There are many good reasons! “if you’re not growing, you’re dying” isn’t one …
The 80/20 Rule: The Key to Working Smarter, Not Harder… and Increasing Profits!
The 80/20 rule, also called The Pareto Principle, named after economist Vilfredo Pareto, posits that 80% of consequences come from 20% of the causes, asserting an unequal relationship between inputs and outputs. More straightforward, and in farmer-speak, the “consequences” are …
Should you borrow money to get out of debt quicker?
Just writing this out, the question doesn’t really make sense. But in recent months, several clients have asked me this question, though from the perspective of investing in the business to increase sales. Turned around like this, it almost makes …
Are you profitable?
Your numbers tell a story about your business. How profitable you are? Where the cash is going? What markets work best for you? How you set up your Chart of Accounts — and how you record transactions — directly impacts …
A New Year’s Resolution to Do Less
The New Year offers a time of self-reflection and an opportunity for a fresh start; to do things better this year than the year before. I won’t suggest a “resolution” for the New Year, but rather a gentler approach: to …
Ask Julia: Are you familiar with “Profit First”?
Dear Julia, Are you familiar with profit first? I started reading about it but then hit pause because I know your class starts soon. I don’t want to be getting into two different processes and ultimately confusing everything. Unless your …
There’s No Shame in “The B Word”
“The real test is not whether you avoid this failure, because you won’t. It’s whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere.” – Barack Obama Justin and …
5 Tips to Manage a Cash Crunch During the Busy Season
The stress is debilitating… you’re working round the clock to plant, harvest and sell; and you look at your bank account, and there’s nothing there. This is supposed to be the time of year when you transition from a net …
That August Feeling: How to Farm with Intention Even During the Busy Season
“The August Feeling.” That’s how one farmer described to me that bone-tired feeling of peak-season… when crops and sales are in full-swing, and despite working as quickly and efficiently as possible, there just aren’t enough hours in the day to get …
Snacking** is good for you
I often compare bookkeeping to exercise… it’s something we know we should do and the benefits are clear. With regular exercise, you can maintain a healthy body – it helps to keep your weight, blood pressure and cardiovascular health in check. Is it …
How to grow your business and stay focused
On March 9, 2020, I was scheduled to fly to a conference in Peoria, IL. The conference organizers had booked me to speak about farm business management and offer speed-coaching. At the time, it felt like a milestone as I …
Words matter… Even if your focus is numbers
“That cannot be the way to write clearly.” I had shared the introduction of my book, The Farmer’s Office, with my uncle Roman and this was his feedback. The manuscript was in its final stages of editing before heading to the …
Are you a wise child?
I got an email the other day from a farmer/student, Will. He was working through the homework from our class, had a bunch of questions, and wanted to schedule a coaching session to go through them. Something troubled me about this …
Can Your Business Survive Without You?
Steven had an itch on his back for a couple of weeks. At first, he thought it was just a bug or spider bite… nothing unusual since he works in the fields most days. He figured it must have been …
Financial Sustainability in 6 Easy Steps
Talia has been raising and selling livestock for the last 5 years. She sells the chickens, pork and beef at farmers’ markets and direct to her customers who pick up their orders from her farm. Up until this point, she’s …
Farmers weigh in: what skills do you need to succeed?
I’ve long espoused the skills needed for a successful entrepreneurial (farm or otherwise) business: financial acumen: you need to know your numbers and what they mean operational proficiencies: you need to be able to produce a high-quality product efficiently marketing …
“It’s a good thing you’re not paying for art school!”
This was the feedback I got from one of my culinary school instructors. I recall the specific drawing that prompted this: I had sketched out the plate presentation of a trout dish with green beans and risotto. I submitted the …
How to Evaluate Business Investments
Over the last few months, I’ve been working with a farmer on her business plan for building out an on-farm processing facility. She wants to take her heritage breed pigs and create custom, value-added charcuterie. It’s a big investment of …
We all start out not knowing
I started using QuickBooks in 1997 when I had my catering business. Though I always thought of myself as a “numbers person,” I had no idea about balance sheets or liabilities or even equity. As I went through the initial …
7 tips to raise prices (without ticking off your customers)
A beginning farmer asked me recently, ‘I want to sell my products to restaurants. I know many restaurants usually buy from Sysco… so how do I price my products to compete with Sysco?” In short: you don’t. As I’ve long …
Selling to Yourself
Melissa and Sam King own and operate MSK Farm: a diversified vegetable farm with a value-added kitchen. On the farm, they grow vegetables that they sell to wholesale and retail clients. In addition, they take some of their farm products …
With a little help from friends
“Behind every successful business owner is a team of supporters who helped them succeed.” I was thinking about the more outdated (and sexist) version of that quote the other day as I listened to Emily Round share her QuickBooks experience …