Management is the heart of every business and profitability is its oxygen, both working together and indispensable to keep us alive. Two aspects we must make sure that we are doing right are managing our input costs and preparing the next generation to take over our farms. These are not trivial goals, and we should explore every idea that could help us achieve them – which is why in this episode, with Jonathan LaPorte, M.Sc., we will discuss strategies for input purchases, management of financial reserves for the reduction of price risks, the engagement of younger generations in dairy farm operations, and plans for the transition of farm ownership.

“Dairy farmers make up a very close, neat community where everybody wants to see everybody being successful and there are always people willing to help each other out.’’ - Jonathan LaPorte, M.Sc.

What you’ll learn:

• Highlight (00:00)
• Introduction (01:38)
• Purchasing strategies for reducing inputs costs (05:35)
• Managing financial reserves on a farm (12:37)
• Starting a new dairy farm operation (16:41)
• Engaging the next generations in dairy farm operations (21:28)
• Transitioning dairy farm ownership (27:38)
• The final questions (34:10)

Meet the guest: Jonathan LaPorte

Experience:

• Current: Farm Business Management Educator at Michigan State University Extension
• Past: Senior Farm Loan Officer (USDA, FSA); Agronomy Sales Specialist (Certified Crop Advisor)

Background:

• M.Sc., Agribusiness (Kansas State University)
• B.Sc., Agribusiness Management (Michigan State University)

Connect with the guest: LinkedIn

𝗟𝗶𝘀𝘁𝗲𝗻 𝗼𝗻 𝗔𝗽𝗽𝗹𝗲 𝗣𝗼𝗱𝗰𝗮𝘀𝘁𝘀, 𝗦𝗽𝗼𝘁𝗶𝗳𝘆 𝗼𝗿 𝗮𝗻𝘆 𝗺𝗮𝗷𝗼𝗿 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺.

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