Heather Oakley

Guelph Grad; B.Comm, Major Agriculture. Beef background. Opinions are my own.

[FMC/GAC @FMC_GAC]

Learn how your financial info can be organized for timely analysis and interpretation and how to use basic financial tools to calculate your financial position, options and explore what-if scenarios.
https://t.co/OZDQaOKEQq
#canadianfarmers #dairyfarmers #dairyfarmersofcanada

[Alberta Canola @AlbertaCanola]

Congratulations to @FMC_GAC on their 30th anniversary of providing leadership and support of farm management excellence for Canadian Farmers.

Learn more about their history: https://t.co/iuEt3ZdESu

[Heather Oakley @FerrierHeather]

When looking at financial ratios, look at year over year trends- start with what you have and build to looking at 5 years trends. Lindsey Nichol @BMO #agex2022

[Heather Oakley @FerrierHeather]

Lenders will look at your liquidity (ability to pay down long term liabilities/debts), security (assets, collateral) and past performance (profits, on time with payments, reliability) -Lindsey Nichol @BMO #AgEx2022

[Heather Oakley @FerrierHeather]

Prepare to discuss the “4 Ms” with your lender- management, money, markets and materials(labour, equipment,etc). Lindsey Nichol @BMO #AgEx2022

[Kelleen Tait @KCTait]

“It’s never to young to include your family in the business” not just working in it but understanding the financials, culture, and how it feels. - Greg @TECCanada

[Heather Oakley @FerrierHeather]

What to bring with you to a bank meeting: your plan/goals/vision, forecasts and assumptions, operational info/crop plan/risk mgmt strategy, financial info/personal net worth/tax returns/financial statements- Lindsey Nichol @BMO #agex2022

[Heather Oakley @FerrierHeather]

Lindsay Nichol @BMO sharing how to work with your baker to get what you need for your farm business. #agex2022

[Backswath Management @Backswath]

Backswath is out in force at this week's Agricultural Excellence Conference in Canmore, Alberta -- hosted by @FMC_GAC. Our CEO Josée Lemoine is flanked by Farm Management Consultant Brendon Fornwald (left) and Agribusiness Practice Lead Bruce Kirk.
#CdnAg #AgEx2022

[FMC/GAC @FMC_GAC]

"You don't get something for nothing. So if something has a high return, guess what? It also has high risk." - Michael Langemeier, 'Optimizing Your Growth Potential,' #AgEx2022 #agrisk #farmgrowth @AFSC_AB @PurdueAg @PurdueAgBiz

[Heather Oakley @FerrierHeather]

If you don’t have good financial info, how will you benchmark yourself? How will you plan? How will you build the correct biz structure? How would you know your biz performance? @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Heather Oakley @FerrierHeather]

You need relevant, real-time, info to make a good decision. @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Heather Oakley @FerrierHeather]

If you’re farming for the life style, you won’t have a good business. If you’re running your farm as a business, you’ll have a good lifestyle. @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Heather Oakley @FerrierHeather]

Prepare an annual biz plan and monitor your performance throughout the year. Risk Mgmnt should be part of your Biz plan. @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Heather Oakley @FerrierHeather]

You need to decide how much risk you are comfortable with and make your risk management plan based on your comfort level @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Heather Oakley @FerrierHeather]

Ag Risk Management Process- Projected Income Statements, Agristability Reference Margins, Assumptions based on various types of loss scenarios + calculate how different BRM tools would pay out to offset losses @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Heather Oakley @FerrierHeather]

“When selecting a financial consultant or financial advisor, be sure to choose one who has the heart of a teacher” Dave Ramsey @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Heather Oakley @FerrierHeather]

Accrued $ statements and biz risk mgmnt programs are complicated- someone needs to take ownership of this. @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022

[Kelleen Tait @KCTait]

“Knowing is different than assuming” the interplay between financial literacy and stress on the farm is huge. Knowing where you stand allows for quicker responses with less stress @Stuart_Person @FMC_GAC #agex2022 @MNP_Ag

[Heather Oakley @FerrierHeather]

Figure out if worst case scenario happens, what position will you be in. BRM strategies are complex and require analysis. @Stuart_Person @MNP_Ag @FMC_GAC #AgEx2022