In this episode, I sit down for the first time on this podcast with our newest coaching teammate, Alyssa Brown. Alyssa is a fifth-generation farmer, mom, and farm partner who is passionate about working with farmers to stay financially organized on the farm.

We have an in-depth discussion about the consequences of delayed decision-making and how changing that habit can help determine the long-term profitability and sustainability of your farm. Alyssa shares several practical strategies and useful tools for financial organization as well as tips for young farmers who are struggling to get founding farmers on board.

By the end of the episode, you’ll have a good grasp on the next steps of your own financial journey and will have gained knowledge as to why a team of advisors (who you actually like!) will save you money in the long run.

Access the full show notes for this episode at elainefroese.com.

Discover more about our guest: Alyssa Brown

Elaine Froese Resources:

• Watch this episode on YouTube.
• SPEAKING - book Elaine for your next event
• COACHING - find your Farm Transition Coach
• MEMBERSHIP - Join the waitlist for the Membership
• RESOURCES - download for FREE
• CONTACT - take the next steps in your transition 
• BURNING QUESTION? Submit it here for Elaine or her coaches

Timestamps

0:00:30 Introduction to Alyssa Brown

0:03:21 The first step to getting financially organized

0:04:58 Separating the family account from the farm account

0:05:30 Embracing new technology for accounting

0:08:28 Accounting software options

0:09:08 Tracking non-cash transactions

0:13:09 Variable costs vs fixed costs

0:16:19 Organization tip for tracking fixed vs variable costs

0:18:02 A useful piece of info to include on your spreadsheet

0:19:21 Financial transparency on the farm

0:23:18 Where to gain better financial literacy 

0:25:39 Having a good connection with your team of advisors is important 

0:26:56 Using a funnel as a visual metaphor 

0:28:11 Was it about farmers not wanting to pay tax?

0:33:55 How young farmers can get their whole family to the table

0:36:52 Why it’s important for advisors to be transparent about their work